Wednesday, July 28, 2021

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TOGETHER WITH

The Motley Fool

Good morning. The one-of-a-kind Wu-Tang Clan album previously owned by “pharma bro” Martin Shkreli has been sold by the US government to an anonymous buyer as part of Shkreli’s $7.4 million forfeiture judgment. 

Before you ask, yes, it was us. To be fair, we thought it was an NFT.

MARKETS


Nasdaq

14,660.58

S&P

4,401.46

Dow

35,058.52

Bitcoin

$38,320.29

10-Year

1.247%

UPS

$195.19

*Stock data as of market close, cryptocurrency data as of 5:00pm ET. Here's what these numbers mean.

  • Markets: Big Tech dragged stocks lower during the trading day before crushing earnings estimates after the bell rang. UPS stock took a dive after the company reported lower shipping volume than a year ago, when much of the world was at home getting everything delivered.
  • Covid: In a U-turn from its previous guidance two months ago, the CDC advised that vaccinated people living in Covid hotspots should mask up in indoor settings; the same goes for everyone in K–12 schools. Most major metro areas fall under the indoor mask advisory. 

WORK

What Happens When the Benefits Expire

unemployment

Francis Scialabba

In March, the US government provided an additional $300/week to unemployed workers through September to blunt the impact of the economic downturn. Many states chose to end those benefits this summer, arguing they were a major contributor to the widespread labor shortage.

Did cutting those benefits boost hiring? Economists are scrambling to figure it out, and yesterday we got a preliminary answer that’s just as nuanced as the question: Extra unemployment insurance (UI) didn’t impact overall job growth, but it did cause a reshuffling of the type of people who were working. 

That comes from a report from the payroll processor Gusto, which compared hiring trends in the 20 states that cut the extra unemployment (UI) payments in June with those in states that kept them around for longer.

The takeaways

  • In states that ended extra UI early, hiring for adult workers 25 or older increased the week governors said they were cutting benefits, but it returned to typical levels once the benefits actually expired.
  • At the same time, the hiring of teenagers 15–19 jumped in states that didn’t cut the extra benefits.
  • Overall, employment growth in states that ended enhanced UI early and states that are keeping it until September has been roughly equal. 

What does it mean? Extra UI payments played a role in keeping some adult workers from coming back to work. The spike in teen hiring in states with extra UI shows that when employers couldn’t find adults to hire, they brought on younger workers with less experience—and who may not qualify for unemployment.

The takeaway of the takeaways 

Because overall employment growth didn’t change based on whether a state had cut off the extra benefits, “Ending unemployment insurance is not the silver bullet” to a speedier economic recovery, Gusto Economist Luke Pardue said. He suggested that alleviating childcare burdens and getting more people vaccinated were the keys to unlocking greater job growth.

        

TECH

Breaking: Big Tech Is Big

Apple, Microsoft, and Google approached analysts’ expectations the way Joey Chestnut approaches a plate of three hot dogs. Here’s a rundown of the earnings demolition in 130 words.

Apple, the world’s most valuable public company, said profits nearly doubled last quarter, iPhone sales jumped an impressive 50%, and revenue for every major product line grew at least 12% annually. 

Microsoft had its most profitable quarter ever thanks to greater demand for its cloud-computing services and workplace software. CEO Satya Nadella said the words “enterprise metaverse” on the earnings call and not even he knew what it meant. 

Alphabet, Google’s parent company, said ad revenue increased 69% [redacted joke]. The real highlight was YouTube—with $7 billion in quarterly revenue it’s oh so close to eclipsing Netflix’s sales numbers ($7.3 billion).

        

SPORTS

Even GOATs Are Human

TOKYO, JAPAN - JULY 27: Simone Biles of Team United States looks on duri...

Fred Lee/Getty Images

Simone Biles, US Olympic gymnastics team member and the greatest gymnast of all time, pulled out of the team finals in Tokyo yesterday, saying she wasn't in the right state of mind and feared she'd "do something dumb and get hurt." In a post-competition press conference, she told reporters that she was inspired to prioritize her mental health by Naomi Osaka’s withdrawal from the French Open this year.

What happened: After a rocky vault routine, the 24-year-old, four-time Olympic gold medalist left the floor, and teammate Jordan Chiles subbed in on the uneven bars. Team USA ultimately took silver.

  • On Monday, Biles posted on Instagram that sometimes it feels like she has the “weight of the world” on her shoulders.

Zoom out: Biles's decision is part of a larger trend of athletes, especially in this year’s Olympics, opening up about the emotional struggles that come with intense competition and scrutiny. This year’s Games mark the first time the Olympics introduced guidelines for athletes and coaches on how to screen for and address mental health concerns. 

Looking ahead...Biles said she wasn’t sure whether she’d compete in the individual competition that begins Thursday.

        

SPONSORED BY THE MOTLEY FOOL

Stocks That Could Be Hotter Than Your Washboard Abs

The Motley Fool

Maybe you’ve been spending the better part of the summer working to get cheese-grater abs (like the guy up there). 

Well here’s some news for you: you could also be investing in stocks potentially hotter—and way more attainable—than abs of steel with The Motley Fool

You can think of The Motley Fool as the trainer that can help you to get your investment portfolio in shape. They just released three “Double Down” Picks for 2021, which gives a chance for investors who missed the boat on some potentially great stocks to get in again…and a chance for investors who did buy to add to their gains (pun intended).

Their previous ‘Double Down’ picks include:

  • Netflix, up 28,805%
  • Amazon, up 1,994%
  • Apple, up 2,596%

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[Returns as of 7/19/2021]

GRAB BAG

Key Performance Indicators

Stat: Just 25% of applicants passed the Charter Financial Analyst Level I Exam administered in May, the lowest since testing began in 1963 and down from the 44% pass rate for the test administered in February. The CFA Institute said that the “stop-start” nature of candidates’ studies due to the pandemic could be to blame.   

Quote: “Abhorrent and insulting.” 

More than 2,000 Activision Blizzard employees signed an open letter Monday bashing the company’s response to a recent lawsuit, which alleged that female employees were routinely discriminated against. Employees are staging a walkout today to demand changes in the ways women and other marginalized groups are treated at the company.

Read: Who will pay to protect tech giants from rising seas? (NPR)

        

SOCIAL MEDIA

Tell Your Dad Being On Instagram Is a Real Job

Makeup influencer takes selfie on a beach

Giphy

You haven’t lived until you’ve bought a Bluetooth keyboard from a TikTok influencer’s recommendation. 

And if there’s any time to be hawking trendy electronics from your social account, it’s right now, because influencer marketing spending is expected to grow more than 30% this year to top $3 billion, per eMarketer. 

What happened: Marketers reduced influencer ad spend early in the pandemic, but with the economy roaring back and travel influencers able to do their yoga-pose-on-a-mountain thing once again, the sector is poised to grow fast—especially thanks to new trends like social commerce and short video.

Big picture: Influencer marketing is still a relatively small line item for most companies. It will only make up a sliver of the $59 billion expected to be spent on social media advertising in 2021.

        

WHAT ELSE IS BREWING

  • Home prices grew at their fastest pace on record in May. 
  • Instagram rolled out new safety features for teenage users.
  • Oklahoma and Texas, currently of the Big 12 conference, informed the SEC they want in beginning July 1, 2025.
  • Walmart said it will pay college tuition and textbook costs for employees at select schools.

Olympics links

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GAMES

The Puzzle Section

Word Search: Of course this week's puzzle is Olympics-themed. Go for gold here.

Style and Substance

Every month, the WSJ stylebook editors compile a list of errors published in the newspaper. Can you spot the grammatical mistakes in the following sentences? 

  1. Many workers who furnished their home offices later in the pandemic say the key to avoiding buyer’s remorse is going slow. 
  2. Mr. Boyer and his wife Elaine set up trusts for their five grandchildren with gifts of $25,000 each, an amount they plan to give annually for at least a decade.
  3. The group has sought in recent months to present themselves as a responsible state actor to regional powers and the West.
  4. When the last season ended and preparations for the next one started, teams were staring down a reality that none of them prepared for.

SHARE THE BREW

Giveaway Alert

Macbook pro meme

When you share the Brew with your family, friends, and coworkers today, you’ll be entered into a raffle to win one of three MacBook Pro laptops (yes, the ones with the new M1 chip).

The details: Each time you refer someone to the Brew, you’ll receive one “ticket” to the raffle. Which means the more people you get to sign up, the better chance you have of winning a laptop.

The giveaway runs through tomorrow, but why wait until then? 

Share to win.

*US winners only. Not affiliated with Apple. For more rules, see terms and conditions here.

ANSWER

  1. Because it’s an adverb “slow” should be “slowly”
  2. You need commas around Elaine (“Mr. Boyer and his wife, Elaine,”) or else one might conclude Mr. Boyer has multiple wives
  3. The word “group” is a singular noun in the US, so it should read “to present itself”
  4. None of them had prepared for 
Encyclopaedia Britannica | On This Day
July 28
John F. Kennedy and Jacqueline Kennedy

FEATURED BIOGRAPHY


Born On This Day

Jacqueline Kennedy Onassis

American first lady

READ MORE
World War I: German infantrymen

FEATURED EVENT


1914

Beginning of World War I

READ MORE

MORE EVENTS ON THIS DAY

IRA graffiti

Miguel Indurain

Tangshan earthquake of 1976

Eva Marie Saint and Marlon Brando in On the Waterfront

White Zombie

Fourteenth Amendment

ALSO BORN ON THIS DAY







SEE ALL BIOS ON THIS DAY

 

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‘He Fled The State’: Texas GOP Speaker Issues Arrest Warrant For Fleeing Texas Democrat

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Poll: More Americans Want ‘Black Lives Matter Riots’ Investigated Than January 6 Riot

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Viral Video Of Hometown Fans Exploding As Alaskan Teenager Wins Gold In Stunning Upset

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WALSH: Simone Biles Quit On Her Team And Her Country. She Should Not Be Celebrated For It.

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Iranian Defector Dedicates Olympic Judo Medal To Israel, Thanks Country In Hebrew In Sharp Rebuke To Anti-Semitic Competitors


The Biden administration’s Department of Justice dropped criminal cases against five Chinese...

[DEVELOPING] States Taking Action Where Feds Are Failing
 
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Read it Here >>
 

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Time to bring in detectives! >>

1 big thing: The new mask logic


Illustration: Annelise Capossela/Axios

 

We're about to have to mask up again, in a lot more places. The Biden administration is essentially asking vaccinated Americans to help save the unvaccinated from themselves.

America's "pandemic of the unvaccinated" has gotten bad enough that vaccine mandates are starting to catch on, and masks are coming back — increasingly for the vaccinated, Axios Caitlin Owens writes.

  • Vaccinated people's risk of serious illness is still extremely low. The problem is that there are simply too many unvaccinated Americans. That's taking a toll on the whole country, and vaccinated people will be asked to shoulder some of that burden.
  • "[T]he honor system isn’t working," tweeted emergency physician Leana Wen.

Driving the news: The CDC announced yesterday that vaccinated Americans living in areas with high COVID transmission — about 63% of U.S. counties — should once again wear masks indoors.

  • At the Capitol, the Office of the Attending Physician advised both House members and senators: "For the Congress, representing a collection of individuals traveling weekly from various risk areas, ... all individuals should wear a well-fitted, medical-grade filtration mask (for example an ear loop surgical mask or a KN95 mask) when they are in an interior space and other individuals are present."
  • At the White House, staff will now be required to wear masks indoors, even if they're vaccinated.

Between the lines: New evidence suggests that some "breakthrough" cases — vaccinated people contracting COVID — might be more contagious than initially thought, according to the CDC.

  • That's the main point of bringing back masks for vaccinated people: Reduce the risk that a breakthrough infection will infect an unvaccinated person, who still risks serious illness or death.

Tuesday's mask guidance was all about reducing transmissibility, even though breakthrough infections are rare, a Biden official told Axios.

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2. Understanding the unvaccinated
Data: Axios/Ipsos. Chart: Sara Wise/Axios

The most hardcore COVID shot opponents — who say they'll never get one — tend to be older, white and more Republican, Axios managing editor Margaret Talev writes from our Axios/Ipsos Coronavirus Index.

We examined data from the five most recent waves of our national survey, from May through last week, comprising 5,232 U.S. adults.

  • Seven in 10 respondents said they'd taken the vaccine. The group we wanted to understand was the remaining 30%. (That mirrors the CDC tracker, which shows 69.1% of U.S. adults have at least one shot.)
  • About half of the unvaccinated haven't ruled it out.
  • The rest — a little more than half of all unvaccinated respondents — said they're not at all likely to get vaccinated.

Roughly half of the people in the most persuadable group are Black or Hispanic. The most resistant group is overwhelmingly white.

  • The dug-in opponents also identify more solidly as Republican, and are disproportionately concentrated in the South.

Between the lines: Two additional themes unite those most resistant to being vaccinated.

  • They're most likely to say they don't consume traditional mainstream news. And they're most likely to distrust institutions and authority figures, including the CDC, President Biden and state governments.

What we're watching: Parents with children at home were disproportionately likely to resist taking the vaccine themselves — a potential complication to efforts to increase child vaccination rates.

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3. National parks "drowning in tourists"
Data: National Park Service. Chart: Connor Rothschild/Axios

National parks across the U.S. are overflowing with a post-pandemic crush of tourists, leading to congestion, traffic jams and increased damage to the parks, Axios' Alayna Treene reports.

  • Why it matters: Some are seeing such a record number that they're being forced to limit, and even close, access to certain areas to avoid the danger of eroding the land. The result, ultimately, could change the way Americans interact with the parks.

Members of Congress are hoping to draw more attention to the issue — and look 10 years ahead — by hosting a public hearing today.

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A message from Google

Google protects against cyber attacks with products that are secure by default
 

 

As our nation faces alarming cyberattacks, we’re keeping billions of people safe online with one of the world’s most advanced security infrastructures, including Gmail’s anti-phishing protections, which block more than 100 million phishing attempts every day.

Learn more.

 
 
4. Female Olympians push back against double standards
Pauline Schaefer-Betz of Team Germany


Pauline Schaefer-Betz of Germany competes on the balance beam. Photo: Laurence Griffiths/Getty Images

 

Female Olympians in Tokyo are rejecting uniforms that have long defined their sports, highlighting a double standard in how women dress in competition vs. men, Axios' Ivana Saric and Ina Fried write.

  • During their qualifying round, Germany's women's gymnastics team wore full-length unitards, eschewing the conventional leg-baring leotards worn by most female gymnasts.
  • Norway's women's beach handball team was fined for wearing shorts instead of the required bikini bottoms during a match.
  • The International Handball Federation permits male beach handball players to wear shorts as long as four inches above their knees, but requires women to wear bikini bottoms "with a close fit and cut on an upward angle toward the top of the leg."
  • Keep reading.

⚡ For the second day in a row, the biggest story in Tokyo is Simone Biles, who won't compete in the women’s gymnastics all-around finals after pulling out of the team finals yesterday for mental health reasons.

  • Biles has drawn widespread praise for her decision to prioritize her well-being, including from Michael Phelps and Michelle Obama.

🥇 Axios' Olympics dashboard ... Events to watch today ... Live medal tracker.

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5. "OK guys, apparently the tip of the spear has entered the Capitol"
The four officers — from left, Aquilino Gonell, Michael Fanone, Harry Dunn and Daniel Hodges — after their emotional testimony yesterday. Photo: Chip Somodevilla/Getty Images

Rep. Bennie Thompson (D-Miss.), chair of the House committee investigating the Capitol riot, set the scene for yesterday's emotional opening hearing by saying:

[W]hile our institutions endured, and while Joe Biden is the legitimately elected president of the United States, a peaceful transfer of power didn’t happen this year. It did not happen. Let that sink in. Think about it.

Before the tearful testimony by four officers who survived the siege, Thompson cued up a video of scenes from Jan. 6, much of it from officers' bodycams — plus audio of "rioters' internal communications." The chair warned of "graphic images and strong language."

  • Even after all we've seen, it was still stunning to watch the crunch of a protester trying to break an officer's riot shield, and a masked officer — desperately trying to hold back the mob — saying: "You're gonna kill me, man. Hey, you're gonna kill me."
  • As the insurrectionists battered their way into the House chamber, members were instructed: "Take off your pins."

Watch the video. ... Read, see clips of the officers' testimony.

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6. Why Mark Zuckerberg is going meta
Mark Zuckerberg shaking hands with himself


Photo illustration: Aïda Amer/Axios. Photo: Michaela Handrek-Rehle/Bloomberg via Getty Images

 

Facebook's next chapter, Mark Zuckerberg says, is to be prime builder of "the metaverse" — an open, broadly distributed, 3D dimension online where, he says, we will all conduct much of our work and personal lives, Axios managing editor Scott Rosenberg writes from the Bay Area.

  • Between the lines: Zuckerberg thinks Facebook missed the boat by not becoming the owner of its own smartphone ecosystem, the way Apple and Google did. He doesn't want to make that mistake again.

The vision, as Zuckerberg described in an interview with Casey Newton, is of virtually "teleporting" via a headset or AR glasses:

  • "You can think about the metaverse as an embodied internet, where instead of just viewing content — you are in it."
  • "And you feel present with other people as if you were in other places, having different experiences that you couldn’t necessarily do on a 2D app or webpage, like dancing ... or different types of fitness."

Keep reading.

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7. 🛒 Walmart to pay for worker schooling

Walmart, the nation's largest private employer, announced it'll pay 100% of employees' college tuition and books at a group of schools, as part of a $1 billion, five-year investment in career-driven training, per USA Today.

  • Why it matters: It's part of the escalating efforts by employers to stand out by increasing wages and benefits amid a shortage of workers, particularly in retail and restaurants, Reuters notes.
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8. 1 food thing: Rise of detox dining


Illustration: Sarah Grillo/Axios

 

Cafes and fine-dining establishments alike are offering to take away your phone so you can unplug, enjoy the meal and actually talk to each other, Axios' Erica Pandey reports.

  • The digital detox is likely to become even more popular as people emerge from months of digital overload.

The James NoMad hotel in Manhattan experimented with a Digital Detox package that gave guests 10% off the room rate for every night they went without phones, MarketWatch reports.

  • Guests gave their phones to the front desk when they checked in and were assigned device-free rooms without TVs or alarm clocks.

Some places are trying lighter versions: Fergie's Pub, a Philadelphia bar, has done away with TVs.

  • Several coffee shops stopped offering WiFi, calling it an effort to discourage device use.

Flashback: Everything old is new again. In 1999 — 22 years ago — the New York Times ran an article about excessive cell phone use driving restaurants to ask phone users to step outside to gab.

  • That, of course, was when people actually used phones to talk.

Share this story.

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A message from Google

Google’s AI-driven security protects billions of people
 

 

We keep more people safe online than anyone else in the world by blocking malware, phishing attempts, spam messages, and potential cyberattacks.

We’re partnering with public and private sectors to develop and implement security technologies to make us all safer.

Learn more.

Dem Florida Agriculture Commissioner Suspends Weapons Permits of 22 Jan. 6 Protesters

Report: More Than 50,000 Illegal Aliens Caught and Released by Biden Administration

Here’s the Best GOP Governor Candidate You’ve Never Heard Of

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WALSH: Simone Biles Quit On Her Team And Her Country. She Should Not Be Celebrated For It.

Image

‘He Fled The State’: Texas GOP Speaker Issues Arrest Warrant For Fleeing Texas Democrat

Image

Viral Video Of Hometown Fans Exploding As Alaskan Teenager Wins Gold In Stunning Upset

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SHOCK: Simone Biles Out Of Gymnastics Team Final In Tokyo

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CDC ‘Revises’ Mask Guidance: Some Vaccinated Individuals Should Return To Masking Indoors, Everyone Should Mask In K-12 Schools

Dem Donor Guilty of Killing Meth-Addicts in Gay-Sex Ring

Trump’s Candidate Loses in Texas Race Between Republicans

SPECIAL: only ½ glass of this soda shown to tighten tummy

Mich. Dem. Spent Hundreds at Strip Club for ‘Constituent Meeting’

Anti-Vax Restaurant Owner Wears Backlash as ‘Badge of Honor’
 

Joe Biden Is About to Wreck the U.S. Economy With $10 Trillion in Spending

Inbox

 

July 28, 2021

Report: 50,000 Immigrants Released Into US Without Court Date - Few Report to ICE
Roughly 50,000 illegal migrants who have entered the U.S. have been released by Border Patrol agents without being given a court date so far this year, according to a report. ... Read More ›
3 Fatal Crisis Mistakes & How To Avoid Them
It's hard to believe that even some innocent mistakes, like eating a certain type of meat, or hiding your stockpile in the basement, could ever cost you your life. This is not something taken out of some books…... Read More ›
Liz Cheney Leading Pelosi’s Jan. 6 Committee Tells All You Need To Know About...
By The Federalist. Seven months later, Democrats have wasted no opportunity to exploit the January crisis at the U.S. Capitol, gaslighting the public at every turn to brand the riot as the... Read More ›
There’s No ‘I’ In Team, But There Is In Simone Biles
Teamwork makes the dream work — especially when one of your teammates is a six-time Olympic medalist. When that teammate walks away, you lose your dream to Russia. That’s exactly what happened... Read More ›
Biden Unveils Plan that Allows Immigrants to Be Granted Asylum While Bypassing Courts
The Biden administration released a 21-point plan Tuesday to process asylum claims more quickly, allowing asylum-seekers to bypass immigration courts but also potentially deporting those who do not... Read More ›
Texas House Speaker Signs Arrest Warrant for Democratic Lawmaker
Texas House Speaker Dade Phelan has signed an arrest warrant for one of the runaway Texas Democrats holed up in Washington, D.C., to avoid debating an elections integrity bill back home.The civil... Read More ›
Harvard University is in process of patenting it....
Once patented, prices could go much higher, so check it out now. Doctors are raving about it being the next big breakthrough for weight loss...... Read More ›

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