BREW WITH HEADLINES

TOGETHER WITH

Good morning. Today is the official midpoint of summer in the Northern Hemisphere, which reminds us of the classic play we read in high school, A Midsummer Night's Dream. That was the one with the green light at the end, right?  Anyway, read on for the SparkNotes of yesterday's business news...

MARKETS Nasdaq 14,835.76 -0.40% S&P 4,436.52 +0.17% Dow 35,208.51 +0.41% Bitcoin $42,591.27 +3.93% 10-Year 1.303% +7.9 bps GS $397.89 +3.54% *Stock data as of market close, cryptocurrency data as of 5:00pm ET. Here's what these numbers mean. Markets: The Dow closed at an all-time high following a better-than-expected jobs report. Goldman Sachs shares touched a record, which may help it pay for those $110k starting salaries. Covid: Half of Americans are now fully vaccinated, per the White House, which also said that the 7-day average of new vaccinations is up 44% over the past two weeks.

COVID Learning to Live With Covid Nurphoto/Getty Images Countries that used to treat Covid-19 like the plague are starting to think of it more like new seasons of American Idol—just a fact of life. Countries like Singapore. With 67% of Singapore's nearly 5.7 million people fully vaccinated, officials said yesterday they’ll continue with their plan to ease Covid-19 curbs starting next week. In-person dining will resume, border controls will be loosened, and some employees can head back to the office. The reasoning is that perpetual reopening and closing of businesses will give the economy chronic whiplash. Why it matters: Singapore is the most significant example yet of a country pivoting from a “Covid Zero” approach to a strategy that accepts Covid as “endemic,” meaning it’s always present but remains at a manageable level.  “Covid Zero” vs. “Living with Covid” Before its pivot, Singapore was part of a group of Asia-Pacific countries that played Whac-A-Mole to snuff out any trace of the coronavirus in an approach known as “Zero Covid.” And that’s still happening today: After recording more than 300 locally transmitted cases this week, China introduced new curbs on transportation in some cities and began mass testing residents in Wuhan, where the virus originated. The state of Victoria, Australia, instituted its sixth lockdown on Thursday after detecting eight new cases. Australia is just 17% vaccinated. Compare that to the more lax approach employed by countries like the US and the UK. The UK scrapped nearly all its pandemic curbs on July 19 in a strategy it called “Keep life moving.” After a Delta-fueled wave peaked in late July, cases have declined considerably...without new mitigation measures. Bottom line: As the story of Singapore shows, the only way to go from “Zero Covid” to “Living with Covid” is to mass-vaccinate your population, which largely prevents serious illness.

JOBS Jobs Report Almost Hits A Milli US employers added 943,000 jobs in July, marking the best monthly performance since August 2020, and the unemployment rate ticked down to 5.4% from 5.9% in June.  Some experts were just about ready to hang this report on their refrigerator. “I have yet to find a blemish in this jobs report. I’ve never before seen such a wonderful set of economic data,” Harvard economics professor Jason Furman tweeted.  Wonderful indeed, especially for the leisure and hospitality industry, which accounted for 40% of the job gains. Zoom out: While the US economy is steadily clawing back the jobs it lost during the pandemic, the country remains 5.7 million jobs short of where it was pre-Covid. And it's becoming clear that jobs in some industries may never come back... The motion picture and sound recording industries had 30.1% fewer jobs in July than in February 2020. Employment in performing arts and spectator sports is 22.3% below pre-pandemic levels. Looking ahead...the big question is whether the most recent wave of the coronavirus, which started to ramp up after July's jobs data was collected, has slowed down the labor market’s recovery. We’ll find out next month.

ENVIRONMENT Wildfires Scorch California, Greece, and Turkey Josh Edelson/Getty Images The Dixie Fire in California became the third-largest fire in state history yesterday. The fire, which started on July 14, grew 110 square miles overnight from Thursday to Friday morning and has already consumed an area 3.5 times the size of Lake Tahoe.  The fire ripped through the historic downtown of Greenville, CA, on Wednesday and destroyed about 75% of the buildings there, including schools and the vast majority of businesses. No injuries or deaths have yet been reported. Southern Europe is also burning. 6,600+ miles away, firefighters in Greece battled 154 active wildfires. The coast guard had to borrow fishing and tourist boats to evacuate hundreds of people by sea off the coast of Evia, Greece’s second-largest island.  Turkey has also suffered from its worst wildfires in decades for the last 10 days. Photos and videos coming out of Southern Europe right now show the devastation. Zoom out: California and other Western states are experiencing a historic drought and heat wave this summer that scientists say are exacerbated by climate change. Last year was California’s worst fire season on record, and this year is on pace to top it.

SPONSORED BY THE MOTLEY FOOL We Call It the ‘Double Down Glow’ We're referring to the joyous, youthful, delightful glow one gets when they put their money into potentially market-beating stocks (see above photo) picked exclusively by none other than Tom Gardner—the cofounder of The Motley Fool.  Tom only releases his recs once in a blue moon. "Double Down" recommendations are a chance for investors who missed the boat on potentially great stock picks to hop aboard the ship...and a chance for those who did buy to perhaps add to their gains.  And here’s a glowing stat: The stocks picked by Motley Fool’s Stock Advisor service have seen an average return of 586%. And if that’s not making your investment portfolio shine, consider a couple of their previous "Double Down" picks: Netflix, up 28,605% Apple, up 2,546% Unlock your inner "double down glow" this summer with the Motley Fool.  Sign up for Stock Advisor today. [Returns as of July 30, 2021]

GRAB BAG Key Performance Indicators

Wedding Crashers, obv Stat: After a blissful year of avoiding the “Cha-Cha Slide,” we regret to inform you that there will be more weddings in the US in 2022 than in any year since 1984, according to market research firm The Wedding Report. It estimates that 2.5 million weddings will take place next year, compared to an average of 2.1 million weddings/year pre-pandemic and 1.2 million weddings in 2020. Quote: “Let’s gooooooooooo!!!!” Millions of student borrowers in the US, probably, after the Biden administration extended its freeze on student loan payments through January 2022. It was set to expire next month. Read: The surprising benefits of talking to strangers. (The Atlantic)

PERSONAL FINANCE Money Matters: Navigating Small Business Taxes In this Summer 2021 segment, the Brew’s personal finance writer Ryan Lasker is nose-diving into our inbox to address your personal finance questions. Submit your money woes here. I am looking to start a freelance graphic design business but don’t know where to start, especially when it comes to taxes. How do I know what items can be written off, and how do I keep track of them?—Haley Before you do anything (like taking on clients), you’ll need to form a legal business, which matters in part because your structure determines how you’re taxed. Freelancers often open LLCs, which can protect your personal assets from business debt.  Next, test-drive accounting software (I like QuickBooks Self-Employed and FreshBooks.) Pick one that creates functional invoices, makes inputting expenses easy, and is in your budget.  Now you’re open for business! Every expense you incur—from software to coffees with clients—goes in the software. Every dollar you earn, too. Keep receipts for everything. As you correctly surmised, expenses ≠ write-offs. Simply put, write-offs (aka deductions) are ordinary and necessary costs to your business. Photoshop? Yep. A Manet for your home office? No.  Truth is, it’s not that simple. There are special rules for deducting startup costs. You might need to make estimated tax payments quarterly. And we haven’t even talked about tax credits.  Bottom line: If taxes are the 4x100 relay, you’ll run a great first leg by keeping really good track of your income and expenses. Let a tax pro take it to the finish line for at least the first couple of years. PS: Starting August 17, Ryan will be writing a twice-weekly personal finance newsletter to make you smarter about your money. Become one of the first subscribers.

WHAT ELSE IS BREWING United Airlines became the first major domestic airline to require vaccinations for all of its US employees. Amazon to its US workers: Y’all need to mask up at work. The SEC approved Nasdaq’s proposal that would require companies listed on the exchange to hit certain diversity minimums for their boards. A sealed copy of Super Marios Bros. sold for $2 million, topping the previous record for a video game sale set last month. Olympics links Team USA men's basketball defeated France for its fourth straight gold medal. Way to take care of business, boys. About 60% of the betting action for the Olympics has been on women’s events. American Allyson Felix won her 10th Olympic medal to become the most-decorated woman in the history of Olympic track.

FROM THE CREW The Internet Is too Vast to Roam Solo The Great Plains of the internet reach far and wide. Roaming them solo would be hard, but also just boring! Say hey to Sidekick, our spunky newsletter sliding into your inbox with the internet’s best recs for smarter living. Entertainment. Productivity hacks. Recipes. Sidekick will help up your quality of life, one rec at a time. Read it here.

BREW'S BETS Dog food so good, you'll want some. Sundays is a human-grade, nutrient-packed, air-dried dog food. It's gentle on your pup's tummy and tasty in your pup's mouth. Get 35% off your first order here.* Outdoor snugs without the bugs. Outer's lightweight, ultra-soft throw blankets keep pesky bugs at bay with Insect Shield technology, so you can do what you’re supposed to do outdoors: relax. It’s the first product of its kind and Brew readers get early access right here.* Interview of the week: Comedian Alfredo Rivera narrates the scene of a passenger getting duct-taped to his seat on a plane. Weekend conversation starters:  Can you guess who made this commercial before the ending?  Do you know the mushroom man? Which famous actor hasn’t been on Miami Vice? Is Christopher Meloni a zaddy? *This is sponsored advertising content

GAMES Brew Crossword: Pop Playlist

This week's Brew Crossword will make you want to bring out the disco ball from storage. Play it here.    August 7, 2021 Republicans In Wisconsin County Plan Resolution Backing Complete Forensic Audit The Republican Party of Waukesha County, the biggest red county in Wisconsin, plans a resolution this week backing a complete Forensic audit and in support of the efforts of Janel Brandtjen, modeled... Read More › 3 Naive Mistakes Put Your Family At Risk 95% of Americans are unknowingly putting their family at risk, everyday. This video explains why and how to urgently correct them…... Read More › OFFICER KILLED – SEVERAL INJURED – Shooting Outside Pentagon The Pentagon is on lockdown after multiple gunshots were fired near a platform by the facility’s Metro station. Two people were seen on video receiving CPR outside of the metro station. The Pentagon is on lockdown. Live feed — Pentagon on lockdown after m... Read More › WATCH: MORE VOTER FRAUD ALLEGATIONS in Several Georgia Counties Several Georgia counties are now accused of vote fraud in the 2020 election. Scott Wheeler at OAN reported: Atlanta businessman LeVell told OAN Gwinnett, DeKalb, Fulton, and Clayton were counties that also need to be investigated. LeVell told Sco... Read More › “Greatest Cover-Up of All Time”: CVD Came From Wuhan Lab For over a year, the boot-licking media and corrupt public health officials have shilled for the Chinese, saying that the Covid-19 virus had nothing to do with the Wuhan lab and instead spread to humans through bats a local wet market. Now, the over 70% o... Read More › New York AG Concludes Gov. Cuomo Sexually Harassed Nearly A Dozen Women New York Attorney General Letitia James announced on Tuesday that Democrat Gov. Andrew Cuomo sexually harassed nearly a dozen women in what investigators have labeled a “pattern” of... Read More › BREAKING: Stop NSA spying thugs with this weird trick A leaked document reveals what we've suspected all along: Big Government has become Big Brother, and YOU are in the crosshairs. Every single email and cell phone call you make can be recorded...... Read More › August 07 FEATURED BIOGRAPHY Born On This Day Emil Nolde German artist READ MORE FEATURED EVENT 1942 Japanese airfield on Guadalcanal seized by Allies READ MORE MORE EVENTS ON THIS DAY 2015: American golfer Louise Suggs, a pioneer of women's golf who cofounded (1950) the Ladies Professional Golf Association and won 61 career LPGA tournaments, died at age 91. [Sort fact from fiction in our quiz about golf.] 2007: American baseball player Barry Bonds hit his 756th career home run, breaking the record set by Hank Aaron. [How much do you know about baseball?] 1978: U.S. Pres. Jimmy Carter declared a federal health emergency in Love Canal, a neighbourhood in Niagara Falls, New York, following the leakage of toxic chemicals buried under the community; it was the worst environmental disaster involving chemical wastes in U.S. history. [Test your knowledge of historical disasters.] 1974: French-born Philippe Petit walked on a high wire between the newly built twin towers of the World Trade Center in New York City, about 1,350 feet (411 metres) above the ground. He was arrested, but the charges were later dismissed. [Sort fact from fiction in our quiz about history makers.] 1948: At the Olympics in London, track-and-field athlete Fanny Blankers-Koen, who was pregnant with her third child, helped the Dutch team win the 4 × 100 relay, becoming the first woman to capture four gold medals at a single Games; she earlier had won the 100 metres, the 200 metres, and the 80-metre hurdles. [Sort fact from fiction in our quiz about the Olympics.] 1932: Abebe Bikila, an Ethiopian runner who was the first athlete to win two Olympic marathons, was born in Mont. [How much do you know about Olympic history?] SEE ALL EVENTS ON THIS DAY ALSO BORN ON THIS DAY 1975 Charlize Theron South African-born actress 1960 David Duchovny American actor 1932 Abebe Bikila Ethiopian athlete 1987 Sidney Crosby Canadian ice hockey player 1560 Elizabeth Báthory Hungarian countess 1876 Mata Hari Dutch dancer and spy SEE ALL BIOS ON THIS DAY Columnists Biden's Tyrannical Attack on Private Property Rights Katie Pavlich I Don't Want to Hear Anything from LTC Bratwurst or the CDC Kurt Schlichter Joe Biden Is Destroying America Matt Vespa Yamiche Alcindor Believes Working at PBS Makes Her a Federal Government Employee Brad Slager Fake Science, Fear Porn, and the Fallout Kevin McCullough They’re Provoking Us, You Know Chris Stigall Jalen Johnson Returns to His Roots in Bid for City Commissioner Seat Gabriella Hoffman The Media's 'Spectacular' Stand Against Prisons Tim Graham Biden Voters Are Already Showing Signs of Buyers’ Remorse Nick Stehle Tipsheet Here's the Pork Buffet Traitor GOP Senators Signed Off On With This Infrastructure Deal Matt Vespa Poll: New Yorkers Say Gov. Cuomo Should Resign, Face Criminal Charges Landon Mion Biden Approval Rating Continues to Go Down in the Polls Rebecca Downs Ambushed? Here's the Latest Development in the Ashli Babbitt Story Matt Vespa How Convenient: CNN's Chris Cuomo to Take 'Long-Planned Vacation' Landon Mion Jen Psaki Cites Her Kindergartner's Willingness to Wear Mask When Asked About Effects on Children Rebecca Downs Wait...That's Why Politico Staffers Are All Huffy And Trying to Unionize? Matt Vespa Democrats' Hypocrisy Is Now Impossible To Ignore Josh Hammer Cuomo the Insider, Trump the Outsider and Lessons in Handling a Political Base Fred Lucas Why Are Red State Democratic Senators Voting for David Chipman? John R. Lott, Jr. A Tonkin Gulf Incident in the Gulf of Oman? Pat Buchanan The Manhattan Project's 'Martians' Didn't Look Like America Michael Barone Biden's Unprecedented Attack on the Constitution David Harsanyi Is Biden Resetting Obama’s Unconditional Surrender to Castro? Humberto Fontova No Good Answers in Britain Kathryn Lopez No, the Opioid Lawsuit Is Nothing Like the Tobacco Master Settlement Agreement Lindsey Stroud Rep. Tlaib: Cancel Utility Debt Chris Talgo White House to Require Press Corps, Other Visitors to Confirm Vaccination Status Landon Mion RNC Opens First Black American Community Center: GOP 'Has Empowering Message and Policies for All' Rebecca Downs Fox News Contributor Says CNN 'Has a Real Ethical Problem' Regarding Employees Close to Gov. Cuomo Landon Mion Political Cartoons Bearing Arms A Pincer Movement on Guns | Ranjit Singh Armed Citizen In Green Bay Fires When Intruder Tries To Grab Firearm | Tom Knighton Hackers Hit Illinois Police Database Of Gun Owners | Cam Edwards Why Michigan Report On Racial Disparities On Gun Arrests Matters | Tom Knighton Is Mexico Playing Favorites In Its Lawsuit Against Gun Makers? | Cam Edwards Megyn Kelly dropped the hammer on Andrew Cuomo over this sexual harassment report Jen Psaki picked one fight with Ron DeSantis. That decision immediately blew up in her face All hell broke loose when this top Democrat announced a vaccine mandate program Newt Gingrich taught Alexandria Ocasio-Cortez one lesson she will never forget One top Democrat just saw a photo surface that exposed a humiliating truth