|  | Nasdaq | 21,544.27 | |
| | S&P | 6,465.94 | |
| | Dow | 45,418.07 | |
|  | 10-Year | 4.258% | |
| | Bitcoin | $111,622.72 | |
| | Nvidia | $181.77 | |
| | Data is provided by |  |
*Stock data as of market close, cryptocurrency data as of 7:00pm ET. Here's what these numbers mean. | - Markets: All three major indexes closed in the green yesterday, despite the drama swirling around the Federal Reserve following President Trump's unprecedented move to fire Fed Governor Lisa Cook (more on that below). Investors are looking to the to the future, specifically, to Nvidia's earnings report, which will be released after the closing bell today. Yahoo Finance characterized the expectations for its results as "sky-high."
| Markets Sponsored by Raisin Earn 4%+ APY when you save with Raisin. With up to a $1,000 bonus,² your first-year return could equal an account yielding 5%³ when funds stay put for a year. |
|
|---|
Just like many employees who think they are getting unfairly fired, Federal Reserve Governor Lisa Cook has lawyered up. A day after President Trump made the unprecedented move of announcing that he's removing Cook from the Fed's Board of Governors "effective immediately," her attorney Abbe Lowell said yesterday that she will fight the "illegal action" in court. So, is it illegal? The judge(s) will have to decide, since the law allows the president to remove a Fed governor only "for cause," which typically applies to abdication of duty or malfeasance: - Trump cited allegations recently submitted to the Justice Department that Cook committed mortgage fraud.
- Legal experts say it's unclear whether the alleged misconduct—which was unrelated to Cook's role as Fed governor and occurred before she got the job in 2022—would be enough to justify firing her for cause, especially since she hasn't been convicted of anything.
Cook is likely to seek a preliminary injunction halting her removal, which, if granted, would allow her to remain in her position while the lawsuit proceeds. Bigger than Cook v. Trump The case is likely headed to the Supreme Court, which could issue a landmark ruling on the scope of presidential power when it comes to removing Fed governors before the end of their 14-year terms. This would have sweeping implications for the Fed's independence from White House influence, which many economists view as key to the central bank's ability to make wonky (and politically unpopular) interest rate decisions. Stocks held steady yesterday, but Wall Street sent yields for long-term government bonds spiking as investors took the news of Trump's attempt to fire Cook as yet another sign that the central bank's independence is eroding. Zoom out: Trump has repeatedly threatened to sack Fed Chair Jerome Powell, accusing him of being too slow to lower borrowing costs. If he is able to replace Cook on the Board of Governors with a more rate-cut-friendly economist, Trump would have enough votes on the seven-member board to override Powell's wishes.—SK | | |
|
|
Presented By Raisin When rates fall, your earnings usually follow. But with Raisin, you can still capture 5%+ on cash. Open one account to access 75+ banks and credit unions paying 4.30%¹ APY or higher. And through Sept. 30, new customers earn a cash bonus² with code EASY. Here's the bonus cash that's up for grabs: - $75 for $10k deposit
- $250 for $25k deposit
- $500 for $50k deposit
- $1,000 for $100k deposit
Held for 12 months, that bonus could bring your first-year earnings to the equivalent of what you could earn with an account offering 5.05%–5.30% APY.³ Prefer certainty? Lock in today's rate with a CD. Your APY won't budge (no matter how interest rates change). |
|
WORLD  Starship's 10th test flight succeeds, in big boost to SpaceX, NASA. The largest and most powerful rocket ever built went up to space and back, launching at 7:30pm ET yesterday from Starbase in Texas. The Starship spacecraft and the Super Heavy booster both made simulated landings before exploding (the former in the Indian Ocean, the latter in the Gulf of Mexico). An expert source told the New York Times that the company "appeared to achieve all of their test objectives" and is "back on track" after three Starship tests failed earlier this year. The mission gives both SpaceX and NASA good news and momentum as they work together toward the Artemis III mission, which intends to put two astronauts on the moon and is currently scheduled for late 2027.—HVL
 US government may pursue ownership stakes in leading defense contractors. On Squawk Box, Commerce Secretary Howard Lutnick said the Trump administration was considering options to take stakes in defense companies following its $9 billion deal for 10% of Intel and that Lockheed Martin is "basically an arm of the US government." Lutnick said he would leave the economics of such deals to the secretary of defense, but also added that the president is thinking of changing how munitions are financed. Department of Defense appropriations require the annual approval of Congress. Lockheed told CNBC in response to an inquiry, "We are continuing our strong working relationship with President Trump."—HVL
 Norway divests from Caterpillar over Palestine demolitions. The world's largest sovereign wealth fund is selling off its ~$2.1 billion stake in US equipment-maker Caterpillar, it announced this week, citing Israel's documented use of its bulldozers to destroy Palestinian homes in the West Bank and Gaza. The fund's independent ethics council said, "Caterpillar's products are being used to commit extensive and systematic violations of international humanitarian law" with the help of the US government, which buys the machinery and sells it to Israel. The White House, Israel, and Caterpillar didn't immediately comment. Amid mounting public and political pressure, Norway's wealth fund has divested from more than 20 Israeli companies this year in an ongoing ethics review, but Caterpillar is the first major US company to get the boot.—ML
|
|
|
WORK For a while, there's just been the vibe that robots are going to take your job floating around—but now there's some proof. A new Stanford study, which hasn't been peer-reviewed yet, found that AI does seem to be impacting entry-level workers, a fear shared by critics of the tech and CEOs of AI companies themselves. Stanford researchers looked at payroll data from ADP (the largest payroll provider in the US) and found that employment for workers ages 22 to 25 in jobs that are most susceptible to generative AI, like software development and customer support, has dropped about 16% since 2022: - The study took into account factors that could skew the numbers, such as tech industry volatility and interest rate changes.
- The findings align with other reports indicating that young men are having an increasingly difficult time securing work in male-dominated fields, like consulting and tech.
Big picture: Researchers warned that this could be the canary in the coal mine, and that as the tech gets smarter, it will come for more advanced roles and industries. But if fewer workers can snag positions at the bottom of the ladder, they won't be able to get to the middle or top of the ladder and replace higher-skilled workers when they retire.—MM | | |
|
|
MEDIA Soon, Spotify users will be able to slide into someone's DMs to recommend "Slide" by the Goo Goo Dolls. The music streaming app that still hasn't perfected its shuffle algorithm is rolling out in-app messaging to select markets this week to Free and Premium customers aged 16 or older on mobile devices. The aptly named Messages isn't intended to replace the usual platforms for recommending your favorite Benson Boone song to friends and loved ones—Spotify wants Messages to complement those avenues while incentivizing you to stay on the app more at a time when it seems pretty important for the company: - Spotify is targeting ad revenue to account for 20% of its overall revenue, but it was only at 11% as of June and decreased by 0.7% for Q2 year over year.
- Spotify recently announced an increase in subscription prices for Premium users in many markets outside of the US.
Having its 696 million users more engaged can't hurt when it comes to negotiating ad rates, and the new feature, which Spotify says users want, may make paying a higher monthly fee seem worth it. Bottom line: It's unclear if Messages will allow you to DM birthday wishes to Dua Lipa or any other artists, although Spotify says anyone can opt out of Messages or block other users.—DL | | |
|
|
STAT If it feels like you're seeing gambling ads every 10 seconds during sports, you're wrong but you're not far off. A recent study from the University of Bristol shows it was actually every 13 seconds during this year's Stanley Cup Finals. The most frequent messaging was found on visual displays like rinkside boards, with commercials contributing much less to the frequency. Researchers analyzed this year's six Cup Finals matches and seven NBA Finals games and found that viewers were subjected to 6,282 instances of gambling-related marketing across the 13 games, with 94% occurring during the NHL games. Researchers believe the big difference is due to the NBA Finals streaming on YouTube, which has stricter limits on gambling ads.—DL |
|
|
NEWS - Taylor Swift and Travis Kelce announced their engagement in a joint Instagram post yesterday. Later, in a TV interview, Travis's father, Ed, suggested they've been engaged for almost two weeks.
- ExxonMobil and Russia's biggest state energy company held talks about the former resuming business in the country after the 2022 exodus of US trade partners.
- OpenAI was sued by the family of a teenager who died by suicide, saying ChatGPT was to blame for the death.
- Social Security's chief data officer said DOGE uploaded a file with the private information of 300 million Americans to an unsecured cloud in June.
- Powerball is offering its seventh-biggest prize ever tonight—$815 million—after no one won the grand prize on Monday night.
- Cracker Barrel announced it would revert to its old logo after its update sparked an uproar.
- Apple will hold an event on Sept. 9 to reveal the iPhone 17 lineup.
|
|
|
RECS  Hydrate: A lip product that isn't too heavy but actually moisturizes.*
Cat's meow: A Michelin-star chef is making cat food…and people like to eat it, too. Give up forever: How "Iris" by the Goo Goo Dolls became the song of the summer. Carry that weight: An exploration of whether or not weighted vests are beneficial. Pay no interest 'til '27: A 0% intro APR card could give you the breathing room you need. FinanceBuzz's credit card experts found top options to help you save $$$.* *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. |
|
|
PLAY Word Search: What will it be, a hot dog or a hamburger? Actually, in today's Word Search, you don't have to pick. Play it here. Evil sidekicks trivia Every famous villain has a sidekick whispering mischievous things in their ear. Here's a list of sidekicks; name the villain they're paired with. - Mr. Smee
- LeFou
- Mini-Me
- Iago the parrot
- Harley Quinn
|
|
|
ANSWER - Captain Hook
- Gaston
- Dr. Evil
- Jafar
- The Joker
Word of the Day Today's Word of the Day is: wonky, meaning "specialized or arcane." Thanks to Lisa Larson of Tomball, TX, and dozens of other smart cookies for the suggestion. Submit another Word of the Day here. |
|
|
✢ A Note From Raisin ¹ APY means Annual Percentage Yield. APY is accurate as of August 21, 2025. Interest rate and APY may change after initial deposit depending on the terms of the specific product selected. Minimum opening deposit is $1.00. National average comparison is based on current FDIC U.S. national average for banks and NCUA U.S. national average for credit unions. ² New customers only. Earn a cash bonus when you deposit and maintain funds with partner banks on the Raisin platform. Customers will receive $75 for depositing between $10,000 and $24,499, $250 for depositing between $25,000 and $49,999, $500 for depositing between $50,000 and $99,999, and $1,000 for depositing $100,000 or more. To qualify for the bonus, your first deposit must be initiated between August 1, 2025, and September 30, 2025, by 11:59 PM ET, and the promo code EASY must be entered at the time of sign-up. Only funds deposited within 14 days of the initial deposit date and maintained with partner banks on the Raisin platform for 90 days will be eligible for this bonus. Bonus cash will be deposited by Raisin into the customer's linked external bank account within 30 days of meeting all qualifying terms. This offer is available to new customers only and may not be combined with any other bonus offers. Raisin reserves the right to modify or terminate this offer at any time. ³ 5%+ equivalent APY based on illustrative earnings for a $100,000 qualifying deposit into Sallie Mae 14 Month Certificate of Deposit offered through the Raisin platform with a 4.30% APY, accurate as of August 21, 2025, plus maximum $1000 bonus earned by meeting terms of EASY bonus. Interest rate and APY may change after initial deposit depending on the terms of the specific product selected. Minimum opening deposit is $1.00. |
|
|---|
|
ADVERTISE // CAREERS // SHOP // FAQ
Update your email preferences or unsubscribe .
View our privacy policy .
Copyright © 2025 Morning Brew Inc. All rights reserved.
22 W 19th St, 4th Floor, New York, NY 10011 |
|
No comments:
Post a Comment