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Good morning. Memorial Day travel is expected to jump 60% this year, per AAA. Going anywhere fun? Reply and let us know.

MARKETS Nasdaq 13,389.43 -0.09% S&P 4,152.10 -0.87% Dow 34,269.16 -1.36% Bitcoin $56,680.12 +1.82% 10-Year 1.619% +1.5 bps Roblox $77.65 +21.33% *Stock data as of market close, cryptocurrency data as of 5:00pm ET. Here's what these numbers mean. Markets: In a head-spinning day on Wall Street, the Nasdaq climbed out of a major hole to close almost flat on the day, but the Dow had its worst trading day since February. Roblox surged after posting its first earnings beat as a public company Monday. World: As of last night, at least 35 Palestinians and five Israelis have been killed by rocket fire following weeks of escalating tensions in Jerusalem between Palestinian protestors and Israeli police. It's one of the most violent episodes in the region in years, and some experts worry the next step is all-out war.

CRYPTOCURRENCY Feeling Bullish? Francis Scialabba A new cryptocurrency exchange just arrived on the scene like a transfer student in a rom-com. Meet Bullish Global, which will open later this year with $10 billion of crypto assets preloaded and ready to trade, including 164,000 bitcoins. It got its initial capital from Block.one, a blockchain software company backed by billionaire investor Peter Thiel. Bullish brings a new spin to the world of decentralized finance, or DeFi, a buzzword we refuse to let a single Morning Brew reader pretend to understand for one more moment. The gist of DeFi: When you borrow money, trade stocks, or Apple Pay-purchase a coffee, a middleman—a bank or a brokerage—makes the transaction happen. Decentralized finance cuts out that third party by running everything on blockchains, meaning all transactions are made directly.  In other words, it's the difference between uploading a video straight to YouTube and selling it to a TV network to air on cable.  Bullish will run on Block.one's own blockchain to cut out the market makers, which traditionally execute a transaction and profit on the difference between the price you paid and how much they actually made the trade for, aka the "spread." DeFi's a hot space right now. The market ballooned from about $15 billion at the start of the year to $65 billion currently, per JPMorgan. The opportunity to cash in on the DeFi boom is one reason Bullish could break away from the herd. The other reason's a bit simpler… Crypto is the new Snack Pack pudding Trading on big-time crypto exchanges surged from less than $100 billion in April 2020 to $1.7 trillion last month, per data from The Block Crypto.  Which means it's drawing greater interest away from traditional pockets of finance: "All the fun that used to be had 30 years ago in the commodity markets and is no longer fun—that fun is now in crypto," GSR Markets CEO Trey Griggs told Bloomberg. We even read a report that a Goldman Sachs managing director is quitting his day job after hitting the jackpot trading dogecoin.

ENERGY The Gas Shortages Are Here

Yesterday, gas stations in the Southeast faced shortages and long lines (up to five hours) of worried drivers following a hack that caused the country's largest fuel pipeline to shut down.  The pipeline's operator, Colonial, has so far restarted only minor sections of the system and won't restore it fully before the weekend. Even when the pipeline is operational again, it will take nearly 15 days for gasoline to get from a Houston refining hub up to New York Harbor, where fuel-guzzling hubs, such as airports, are desperately waiting. Zoom out: Gas prices are at their highest level since 2014, per AAA.

SOCIAL MEDIA Tech Company, Creator Company...What's the Difference? To support its short-form video product, Shorts, YouTube is setting up a $100 million fund to lure creators away from other platforms, such as TikTok. OK, mostly from TikTok.  Shorts? In March, YouTube followed up Instagram’s Reels and Snapchat’s Spotlight with its own social-video platform to try and replicate TikTok's success. As of late April, Shorts was collecting 6.5 billion daily views.   YouTube will offer monthly payments to creators with the most engagement while it works on a longer-term monetization plan for people supplying popular videos.  The company estimates thousands of creators will get paid monthly in the US and India, the two countries where Shorts is live. It's an arms race for content Since launching last November, Snapchat's Spotlight has handed out $1 million per day to top creators. And TikTok recently expanded its fund for US creators to $1 billion over three years. Bottom line: Social platforms are dangling huge checks as they fight for your glazed-over eyeballs.

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GRAB BAG Key Performance Indicators

Paul Weaver/SOPA Images/LightRocket via Getty Images Stat: In March, there were more open jobs in the US than in any month since record-keeping began in 2000, jumping 597,000 to 8.1 million total. It's sure to spark even more debate around the extra unemployment benefits the Biden administration extended through the summer. Quote: "It's got to be somewhere in the $80,000 to $90,000 range, if not higher." That was NYC mayoral candidate Ray McGuire's best guess at the median sales price for a home or apartment in Brooklyn, when asked by the NYT editorial board. McGuire, a former Citi exec, was off by a factor of 10—it's more like $900,000. FWIW, fellow mayoral candidate Shaun Donovan, who was the former Secretary of Housing and Urban Development, guessed $100,000.  Read: Your least favorite gross viral food videos are all connected to one guy. (Eater)

EXPLAINER Reader Q&A: Why Is Inflategate Tanking My Portfolio? Francis Scialabba Reader Q from Sarai in Alabama: Why is inflation considered bad for stocks? Brew's A: Prices on everything from cereal to ride-hailing services are rising right now, and some investors are getting antsy about inflation, or the rate at which the prices of goods and services rise.  At its last reading in April, the consumer price index (CPI), an indicator of the cost for a "basket" of typical consumer goods and services, was up 2.6% over the preceding 12 months.  The Federal Reserve has a goal of 2% average inflation—so it's okay if things run a little higher in the short-term. And Fed Chair Jerome Powell and Treasury Secretary Janet Yellen think the recent bump in consumer prices is temporary. Investors aren't so sure. "Rising commodity prices, labor constraints, supply chain disruptions, and more fiscal stimulus potentially in the pipeline are a cocktail for faster price growth in the economy," Barron's writes.  If inflation keeps creeping up, some investors worry, the Fed may relax some of its pandemic-era stimulus measures, which have kept borrowing costs low and generally been very good for businesses. That could include raising interest rates or reducing its $120 billion/month bond-buying program.  Looking ahead…at 8:30am ET, the latest CPI reading drops. Check it out for yourself.  + For more market basics, here's what it means to own a stock.

WHAT ELSE IS BREWING A federal judge dismissed the NRA’s petition to declare bankruptcy and reorganize in Texas to escape an investigation by NY’s attorney general. Uber and Lyft are teaming up with the White House to offer free rides to Covid-19 vaccine sites. L Brands will spin off Victoria's Secret into a separate company. EBay is allowing NFT sales on its platform. The Washington Post hired Sally Buzbee, the executive editor and SVP of the Associated Press, as its new executive editor. Medina Spirit is cleared to run in the Preakness despite failing a drug test post-Kentucky Derby.

BREW'S BETS Your backyard misses you. Get back to entertaining with a stylish outdoor sofa from Outer—their patented OuterShell® built-in cover keeps your sofa dry and clean for all your upcoming BBQs and hang fests. Comfy, chic goodness found here.* Burglars will HATE you. SimpliSafe is the home security system over 3 million people trust to protect their home. 2021's “Best overall home security system” by US News and World Report. 24/7 home monitoring by security experts. No contracts. 60-day money-back guarantee. Get it here.* Funny videos: This TikTok trend shows remix culture at its finest. This TikTok parodies commercials in 2021. And this TikTok tries to explain why grocery prices are going up.  Mindless fun: Just scroll, and sometimes click. Less mindless fun: Charting restaurant prices throughout history. *This is sponsored advertising content

FROM THE CREW Where the Ads Are the Story Ian McKinnon In Marketing Brew, our 3x/week newsletter about marketing, advertising, and periodically, pizza chain mascots, you get an inside look at the way brands communicate with the world. From ad tech to career advice to, yes, pizza mascots, Marketing Brew is the must-have publication whether you’re an agency lifer or just dabbling in PR for your friend’s hard seltzer. We don’t need subliminal messaging to tell you this: Subscribe to Marketing Brew here.

GAMES How Well Do You Know Your Local Newspaper? We'll give you a hyphenated newspaper name; you have to figure out which US city it's from. Good luck going 5/5.  Star-Ledger Journal-Constitution Review-Journal Union-Tribune World-Herald

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Columnists Mask Hysteria Kurt Schlichter Dealing With Trump Byron York Team Biden's Rigid Control of the Press Tim Graham Easy to Vote, Hard to Cheat: An Election Integrity Approach all Americans can Support Hayden Dublois Birth Dearth About Values, Not Economics Star Parker ‘Handmaid’s Tale’ Actress: I’m ‘Really Proud’ of Abortion Plot Katie Yoder They Failed To Coerce Americans out of Their Cars Terry Jeffrey New Tax Increase Would Act as a Double Death Tax Daniel Savickas Earmarks Are Not the Problem, Spending Is the Problem Bob Barr ADVERTISEMENT Biden Sets Everything on Fire Ben Shapiro Puerto Ricans Deserve More Than Empty, Big Government Promises Chris Salcedo End of the Cheney-Rove Grip on GOP John and Andy Schlafly Congresswoman Stefanik Represents the Future of the Republican Party Nick Langworthy INVESTING COVID Is Not A Disruptor, It's An Accelerator A Strategy Of Subversion Pt. 3: Demoralization Biased “Expertise” Is Worse Than Worthless

Tipsheet Liz Cheney Is Going Down in Flames...And Seems Perfectly Okay About It Matt Vespa New Biden DOJ Hire and Unhinged Russian Collusion Nut Has One Conservative Editor a Little Worried Matt Vespa As Domestic and Foreign Crises Rage, Biden Called an Early Lid Katie Pavlich Reporters are Allowing Biden's Crew to Edit Their Quotes Matt Vespa Of Course, Our Liberal Media Decided to Side with the Hamas Terrorists Matt Vespa DeVos: Teachers' Unions 'Play Politics with Kids' Lives' Spencer Brown Nikki Haley Torches Ilhan Omar's Take on Israel Reagan McCarthy As Hamas Rages, Trump Slams Biden and 'Crazed, Anti-American' Ilhan Omar Katie Pavlich How One Group Is Arming Parents with the Tools They Need to Fight Indoctrination in the Classroom Leah Barkoukis Hamas Is Now Heavily Attacking Tel Aviv Katie Pavlich ADVERTISEMENT Political Cartoons Bearing Arms Why Americans Don't Care What The U.K. Thinks About Guns | Tom Knighton A Federal Judge Denied NRA's Bid For Bankruptcy. What Happens Next? | Cam Edwards Where Does Virginia's GOP Gubernatorial Nominee Stand On The Second Amendment? | Cam Edwards Defending The Second Amendment Is Hardly Extremism | Tom Knighton Seven Years After No-Knock Shooting, Texas Man Still Awaiting Trial | Tom Knighton

 

May 12

FEATURED BIOGRAPHY Katharine Hepburn READ MORE   FEATURED EVENT 1926 First flight over the North Pole READ MORE

SEE ALL BIOS ON THIS DAY

ALSO BORN ON THIS DAY

1907 Katharine Hepburn American actress 1937 George Carlin American comedian 1820 Florence Nightingale British nurse, statistician, and social reformer 1975 Jonah Lomu New Zealand rugby union football player 1928 Burt Bacharach American songwriter and pianist 1968 Tony Hawk American skateboarder

MORE EVENTS ON THIS DAY

2008: A massive earthquake struck Sichuan province in China, causing great destruction and killing some 90,000 people. [ Test your knowledge of natural disasters.]

1972: The British rock group the Rolling Stones released Exile on Main Street , a double album that is considered one of their defining works. [Take our quiz about rock music and rock and roll.]

1846: The ill-fated Donner party left Independence, Missouri, for California; months later the group became trapped in the Sierra Nevada and some members reportedly resorted to cannibalism when the food ran out. [Learn about the history of cannibalism.]

1949: The Soviet Union lifted its blockade of Berlin. [ Watch an overview of the Soviet blockade of Berlin.]

1937: King George VI of the United Kingdom was crowned following the abdication of Edward VIII. [ Test your knowledge of the kings of England.]

1925: American baseball player, manager, and coach Yogi Berra was born in St. Louis, Missouri. [How much do you know about baseball?]

SEE ALL EVENTS ON THIS DAY

Breaking News: Biden In Panic After Trump Exposes Truth - Dems In Utter Fear

 

{Read More}

Ted Cruz Sounds The Alarm On New Democrat Bill That Would Change America Forever

New Data Analysis Shows Trump Gained Most With Women, People of Color in 2020 Election

Mike Lindell Draws HUGE Crowd To First Free-Speech “Frank” Event…Over 250K Watch Online…Eclipses Biden Audiences

Rand Paul Rips Into Dr. Fauci About Funding the Wuhan Virology Institute Lab – Arrogant Fauci Hits Back! (VIDEO)

JUST IN: Governor DeSantis Declares State of Emergency Over Gas Shortage in Florida #BidenGasLines

 May 12th, 2021

Trump: Palestinian Rocket Attacks on Israel Provoked by Joe Biden’s ‘Weakness’ By Breitbart. State Department spokesman Ned Price told reporters on Tuesday he witnessed photos of Palestinian children killed amid a... Read More ›

Grab Your FREE Tactical Flashlight (normally $29.95) Known as the brightest compact flashlight in the world, the 'Torch' flashlight beam can be seen over 5 nautical miles away so you can light up anything you want, effortlessly and safely blind an attacker, or signal for help when you need to! Read More ›

NRA In Peril After Judge Rejects Bankruptcy Filing The NRA was dealt a serious blow on Tuesday after a Texas judge tossed the gun rights organization's bid to declare bankruptcy, saying it was filed in "bad faith" in an effort to dodge litigation in... Read More ›

JUST IN: Gov. DeSantis Declares State of Emergency Over Gas Shortage in Florida Governor Ron DeSantis Tuesday evening declared a state of emergency over Florida’s gas shortage after “hackers” caused the Colonial Pipeline... Read More ›

Report: Zuckerberg's grant program demanded control of elections President Joe Biden talks on the phone with Israeli Prime Minister Benjamin Netanyahu Wednesday, Feb. 17, 2021, in the Oval Office of the White House. (Official White House photo by Adam Schultz)The... Read More ›

Rand Paul clashes with Fauci over funding of Wuhan lab U.S. Sen. Rand Paul, R-Ky., confronts Dr. Anthony Fauci in a Senate hearing on the coronavirus pandemic response (Video screenshot)Amid growing evidence that the COVID-19 pandemic came from a lab leak... Read More ›

Emergency first aid kit free today... While supplies last!

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Arizona Senate Assures Feds Election Recount Is Secure

Read This Alert >>

Trump Allies Launch Important Election Security Group Here's What We Know >>

TREANDING HEADLINES TODAY

VIDEO: Combative Cheney Going Down in Blaze of Glory

Rand Paul Gets Fauci to Admit He Has No Clue ‘What Went on in China’

SPECIAL: Americans Urged To Search Their Name On New Site That Exposes Public Information

Judge Dismisses NRA Bankruptcy Case in Blow to Gun Group

NBC Drops Golden Globes after Celebs Protest Lack of Diversity

May 12, 2021

Latest News

Russian-Speaking Ransomware Syndicate Extorts D.C. Police Dept for Money or Will Release ‘All the Data’ The United States Washington, D.C. police department has been the victim of a “Russian-speaking ransomware syndicate tha [...] Read More

Hot Today It’s Time To Crush Big Tech Censorship Before They Crush Us Read More Biden’s Biological Ruling: HHS Redefines Sex as Non-Biological Read More Fauci Says COVID Deaths Undercounted, Seasonal Mask-Wearing ‘Quite Possible’ Read More

‘Bombshell’: ‘Phantom Votes’ Emerge in 2020 Election Lawsuit Gas prices reach national average of $2.99, highest in 6 years End of the Cheney-Rove grip on GOP CDC greatly exaggerated risk of outdoor virus transmission

	FOX Daily update ⋅ May 12, 2021
	NEWS
	FOX Bet No-Brainer Offer: Bet $10, Win $100 on Lakers to Score 1+ Points Mile High Sports The Los Angeles Lakers are not playing their best basketball right now, but FOX Bet is making it impossible to lose. New users who sign up with FOX Bet ... Flag as irrelevant
	Fox News Pitches Advertisers a Softer Side With Election Over Bloomberg Fox News executives presented advertisers with what they said would be lighter fare after a tumultuous year of pandemic and presidential politics. Flag as irrelevant
	What's Fueling Fox Nation Subscriber Growth, Per Mobile Data Variety Fox News has strengthened its streaming strategy with a simple tactic: doubling down on politics. Fox Nation, the company's two-and-a-half-year-old ... Flag as irrelevant
	'Prodigal Son's Tom Payne, Bellamy Young & More React To Fox Series Cancellation: “We Did It In ... Deadline Prodigal Son, produced by Berlanti Productions in association with Warner Bros. Television and Fox Entertainment, follows Malcolm Bright (Payne), son ... Fox Tells Prodigal Son to Hit the Road After Two Seasons at the Network - Vulture Full Coverage Flag as irrelevant
	Fox News Unveils Plans to Expand Beyond Politics, Hard News at Upfront Variety Fox News hopes to sell commercial inventory in a range of new venues the company hopes will appeal to core viewers of the conservative news outlet ... Flag as irrelevant
	Fighter jets heard during Fox News live report as death toll in Israel climbs Fox News Fox News foreign correspondent Trey Yingst reported another fatality in Israel as explosions launched from fighter jets were heard in the distance ... White House says Israeli actions work 'against' solution to crisis - Fox News Full Coverage Flag as irrelevant
	Lara Trump Is Now the Trumpiest Thing on Fox News Slate Magazine But, counterintuitively, Donald Trump's election loss seemed initially to increase the value of Lara Trump's television persona, insofar as Fox News was ... Flag as irrelevant
	Homan on Fox News video of migrant crossings: This is Biden's 'open borders' agenda in action Fox News Retired Acting ICE Director Tom Homan sounds off on the Biden administration's immigration agenda after viewing Fox News video of border crossings. Flag as irrelevant
	Fox News Host Has Uncomfortable Moment As Guest Presses On Election Misinformation HuffPost Fox News Host Has Uncomfortable Moment As Guest Presses On Election Misinformation. “Oh, come on, Randi, come on,” Martha MacCallum told ... Flag as irrelevant
	Dr. Marye Anne Fox, Former NC State University Chancellor, Dead at 73 Diverse: Issues in Higher Education Fox is the only woman to have led NC State University, having been appointed chancellor in 1998. In 2004, Fox left NC State to be chancellor of ... Marye Anne Fox, pioneering chancellor at UC San Diego, dies at 73 - Los Angeles Times Full Coverage Flag as irrelevant
	WEB
	ICYMI: Rubio on Fox and Friends - Press Releases - US Senator for Florida, Marco Rubio Senator Marco Rubio Washington, D.C. — U.S. Senator Marco Rubio (R-FL) joined Fox & Friends to discuss the success of Operation Warp Speed, the Colonial Pipeline ... Flag as irrelevant
	Fox Grabs Comedy 'Pivoting' | Broadcasting+Cable Nexttv Fox has picked up single-camera comedy Pivoting for next season. The show follows three women after the death of their childhood best friend. Flag as irrelevant
	Copper Fox Files Schaft Creek Technical Report on SEDAR Newsfile Corp. Calgary, Alberta--(Newsfile Corp. - May 11, 2021) - Copper Fox Metals Inc. (TSXV: CUU) (OTC Pink: CPFXF) ("Copper Fox" or... Flag as irrelevant

Today's Top Headline

The Pfizer-BioNTech COVID-19 Vaccine For Adolescents May Be Available Soon

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Trending

Amanda Chase, Who Pushed Trump to Declare Martial Law, Loses GOP Nomination for Virginia Governor

In The World’s Most-Vaccinated Nation, Covid Cases Have Doubled

After Jails And Prisons Failed To Protect Them, Inmates Fought For COVID Vaccinations And Protections