|  | Nasdaq | 21,713.14 | |
| | S&P | 6,466.58 | |
| | Dow | 44,922.27 | |
|  | 10-Year | 4.238% | |
| | Bitcoin | $122,898.81 | |
| | Cava | $70.45 | |
| | Data is provided by |  |
*Stock data as of market close, cryptocurrency data as of 5:00pm ET. Here's what these numbers mean. | - Markets: Stocks jumped again to notch another record high yesterday, continuing the momentum from Tuesday when investors became convinced that there will be a September interest rate cut. Meanwhile, Cava plummeted after its sales growth underwhelmed Wall Street, with many now wondering if the "bowl slop" era is coming to an end.
| Markets Sponsored by Miso Robotics Get $5.22/share by midnight: With partnerships in place with NVIDIA and Uber AI, Miso is scaling its fully commercial fry-cooking robot across a $4b/year revenue opportunity. Don't miss out. |
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FOOD & BEV Pour one out for the alcohol industry—only 54% of Americans say they imbibe adult beverages, marking the lowest number in the 90 years of Gallup polling. The annual Consumption Habits survey revealed that health concerns—possibly stemming from new data showing an increased risk of seven types of cancer from even limited drinking—are killing people's buzzes: - For the first time in the history of the survey, more than half (53%) of respondents said moderate drinking (1 or 2 drinks per day) is unhealthy.
- And those who still drink are doing less of it. Forty percent said it's been more than a week since their last drink, the highest percentage since 2000.
It's every demographic. Rates of consumption have fallen within every category you can imagine in the last two years, including age, income level, gender, and even political affiliation. Only 46% of Republicans reported drinking this year, a drop of 19 points from two years ago. Democrats dipped three points from 64% to 61% over that period. Joint pain? While some observers have connected falling alcohol sales to the rise of recreational marijuana, Gallup director of social research Lydia Saad said rolling fatties doesn't appear to be causing the seismic shift. If not weed, then what? No one has any money. That's essentially what Barclays beverage analyst Laurence Whyatt told the Financial Times, though he sees the economic outlook improving long term. In the meantime, nicotine is the preferred vice over beer: - The share prices of British American Tobacco, Altria Group, and Philip Morris are up this year, the Wall Street Journal noted.
- Meanwhile, the stocks of Molson Coors and Constellation are down. Anheuser-Busch is up nearly 23% this year, but its beer sales have fallen for nine straight quarters.
Zoom out: With 66% of 18-to-34-year-olds believing that drinking in moderation is bad for your health, we may be witnessing the end of America's obsession with alcohol.—DL | | |
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Presented By Miso Robotics So says the world's richest man. And it's already happening. Just look at the $1t fast-food industry. Miso Robotics is already delivering an AI-powered fry-cooking robot that can cook perfectly 24/7. With the restaurant industry grappling with 144% employee turnover rates and $20/hour minimum wages, Miso's robots have already fried 4m baskets of food for major brands like White Castle. That traction convinced NVIDIA and Uber AI to partner with Miso to refine its AI and robots. Now, after selling out initial units of its first fully commercial robot in one week, Miso's scaling US-based manufacturing across a $4b/year revenue opportunity. And you can join at this pivotal stage. Invest for $5.22/share by midnight. |
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WORLD  European leaders express Ukraine optimism after call with Trump. German Chancellor Friedrich Merz said "there is hope for peace in Ukraine" after he, Ukrainian President Volodymyr Zelensky, and other European leaders spoke virtually with President Trump ahead of his meeting with Vladimir Putin in Alaska tomorrow. Trump characterized the call as "very good," adding, "I would rate it a 10." He reportedly agreed that any peace plan must start with a ceasefire and would not be negotiated without Ukraine's involvement. Trump has recently voiced his frustrations with Putin's effort to prolong the war and threatened "severe consequences" for not agreeing to a ceasefire, though some allies are concerned he could soften his stance after meeting in person with the Russian leader this week.
 The New York AG is picking up the fraud lawsuit against Zelle. NY Attorney General Letitia James announced she is suing Zelle for allegedly allowing scammers to steal from users. The CFPB filed a similar suit during the Biden administration, but it was dropped this year once Trump took office. James argued the payments platform "failed to adopt basic safeguards" to prevent more than $1 billion in funds from being stolen from 2017 to 2023. Zelle called the lawsuit "a political stunt to generate press." Trump's Justice Department recently opened an investigation into James, who has become one of the president's most high-profile opponents in law enforcement.
 Air Canada is canceling flights as attendants go on strike. The Canadian flagship airline plans to start canceling flights today and suspend operations completely on Saturday after the union representing its flight attendants voted almost unanimously to go on strike. The union has asked for increased wages and an end to all unpaid work, saying the airline is "not interested" in resolving the dispute. CNN reported that Air Canada offered a 38% compensation increase over four years, among other benefits, but couldn't reach an agreement after eight months of negotiations. Air Canada operates about 430 flights each day between Canada and the US.—AE
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RETAIL The corporation that started out as an online bookstore is making another big play for your stomach: Amazon rolled out same-day delivery to more areas of the US for meat, produce, and other perishables yesterday, meaning more customers can now get fruits and veggies in the same order as last-minute socks and a fly-swatter. According to Amazon: - Its new service is now available in 1,000+ cities in the US, including Raleigh, North Carolina, Tampa, Florida, and Milwaukee, Wisconsin. The goal is to reach 2,300+ regions by year's end.
- The expansion doesn't replace its existing grocery businesses, Amazon Fresh and Whole Foods.
Competitors wince. Shares of Instacart, which IPO'd in 2023, dropped more than 11% yesterday. Supermarket chains felt a softer squeeze: Kroger fell ~4%, Walmart dipped almost 3%, and Ahold Delhaize—owner of regional chains Stop & Shop, Food Lion, Giant, and Hannaford—shed almost 1%. Zoom out: After years of experimenting with grocery, the latest move will "almost certainly expand Amazon's market share in food," GlobalData managing director Neil Saunders told CNN. Amazon currently accounts for more than 20% of US digital grocery sales, while Walmart leads with over 30%, according to eMarketer.—ML | | |
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Together With Public.com Multi-asset investing. Public is the investing platform for those who take it seriously. Build a multi-asset portfolio of stocks, bonds, options, crypto, and more. Access industry-leading yields, including 4.1%* APY with Public's high-yield cash account. The experience is clean and intuitive, with AI woven into every touchpoint. Invest like a pro. |
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JOB MARKET Saturday might be for the boys, but it's only because their weekdays are looking pretty bleak. New data shows that young men who recently graduated from college are having a rough time finding a job, with the unemployment rate for men aged 23 to 30 hovering around 6%—higher than the 3.5% rate for young women and the 4.2% rate for the entire US last month. Overall, the job market for new grads isn't great…except in a few key areas. Healthcare, hospitality, and education—all dominated by women—were the few fields that showed job growth during the last six months. Meanwhile, male-dominated industries like business and tech have had mass layoffs and hiring freezes: - Young men with a college degree are now slightly more likely to be unemployed than those without one, reversing a decades-long trend.
- Even though young women might be locking down work in more stable industries, those fields typically pay less. The median entry-level salary for a nurse in 2023 was $65,000, for example, while the same for a computer scientist was $80,000, per NY Fed data.
More bad news…the sparse entry-level jobs that many men hunt for in consulting and coding are the same ones beginning to be replaced by AI.—MM | | |
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STAT If you received a colonoscopy in Poland between 2021 and 2022, there's a chance your doctor missed something serious because they were so used to AI doing the work for them. A recent study of experienced gastroenterologists at four endoscopy centers in Poland found that they were about six percentage points worse at identifying pre-cancerous growths in the colon after their ability to use AI assistance was taken away: - Three months before AI was brought in, the detection rate was 28%.
- Three months after the AI help was removed, the detection rate dropped to 22%.
AI did help improve detection while it was available, but without it, the doctors basically turned into Dr. Spaceman from 30 Rock. One of the study's co-authors likened it to suddenly not being able to use Google Maps when traveling.—AE |
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NEWS - Ikea hired its first non-Swedish CEO, Juvencio Maeztu, a Spanish national who started as a store manager in 2001.
- Apple is plotting a big AI expansion with new robots, speakers, security cameras, and a lifelike version of Siri as part of "an effort to restore Apple's mojo," Bloomberg reported yesterday.
- The next Fed Chair nominee will reportedly be one of 11 candidates, including some private sector executives.
- President Trump announced that he will host the 48th annual Kennedy Center Honors himself. Honorees include George Strait and Sylvester Stallone.
- Remember Quibi? A group of current and former Hollywood execs is launching the short-form video startup MicroCo, which sounds an awful lot like Quibi, the app that shut down in 2020 less than a year after debuting.
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RECS  Read: A beautiful book about nature pushing its way through the ugliest parts of our cities.**
Learn: An interactive visualization showing 3 million years of technological history. Lift off: Follow the Apollo missions in real time with this online tool. Watch: The first trailer for Marty Supreme, which stars Timothée Chalamet as a ping-pong player (and Kevin "Mr. Wonderful" O'Leary is also in it for some reason). See your style: Your driving style, that is. We made this quiz with AT&T Connected Car™ that reveals what kind of driver you are. Answer a few quick questions to find out where you land.* *A message from our sponsor. **This is a product recommendation from our writers. When you buy through this link, Morning Brew may earn a commission. |
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PLAY Brew Mini: Today's puzzle is doing its best impression of the stock market. See why here. Three Headlines and a Lie Three of these headlines are real and one is faker than a hard out at the beach. Can you spot the odd one out? - Now you can travel for less by buying someone else's vacation
- Labubu burglars make off with thousands of dollars' worth of merchandise from L.A.-area store
- New draft of global plastic pollution treaty wouldn't limit plastic production
- The hottest place to meet single Philadelphians? A 7am birdwatching group
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ANSWER We made up the one about the birdwatching group. Word of the Day Today's Word of the Day is: endoscopy, meaning "a medical procedure that uses a long tube with a camera to look inside the body." Thanks to Ollie from Kansas City, MO, for the suggestion. Submit another Word of the Day here. |
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✢ A Note From Miso Robotics This is a paid advertisement for Miso Robotics' Regulation A offering. Please read the offering circular at invest.misorobotics.com. Under Regulation A+, a company has the ability to change its share price by up to 20%, without requalifying the offering with the SEC. ✳︎ A Note From Public.com All investing involves the risk of loss, including loss of principal. Past performance does not guarantee future results. This ad is not a recommendation or offer to buy/sell securities or engage in any investment strategy. Brokerage services for treasuries in a Treasury Account and US-listed securities, options, and bonds in a self-directed brokerage account are offered by Open to the Public Investing, member FINRA & SIPC. Public Advisors and Public Investing are affiliates. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Alpha is an experimental tool offered by Public Holdings; please independently verify the accuracy of any output. Cryptocurrency trading services are offered by Bakkt Crypto Solutions (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative and involves a high degree of risk. Cryptocurrency holdings are not protected by the FDIC or SIPC. For more details, see public.com/#disclosures-main. *As of 7/17/25. Rate variable and subject to change. |
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