|  | Nasdaq | 23,102.48 | |
| | S&P | 6,941.81 | |
|  | Dow | 50,188.14 | |
| | 10-Year | 4.147% | |
| | Bitcoin | $68,750.82 | |
| | LPL Financial | $360.58 | |
| | Data is provided by |  |
*Stock data as of market close, cryptocurrency data as of 6:00pm ET. Here's what these numbers mean. | - Stocks were mixed yesterday, with the Dow clinching a new record as other indexes fell amid wariness of holiday retail sales data and pressure on financial stocks from the threat of new AI software. LPL Financial had it the worst, sinking after the tech platform Altruist announced the launch of an AI-powered tax planning tool.
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GOVERNMENT The Trump administration is disavowing an Obama-era scientific finding that serves as the propulsive force for federal climate regulations, the Wall Street Journal reported this week. The Environmental Protection Agency (EPA) plans to nix the "endangerment finding," which determined that greenhouse gases threaten public health and allowed the EPA to curb pollution through regulation. Embracing this finding in 2009 gave the EPA the legal authority to set emissions standards for exhaust-belching cars and trucks, as well as power plants. The Trump administration will officially announce the change this week, billing it as "the largest act of deregulation" in US history, valued at $1 trillion and projected to reduce vehicle costs by an average of $2,400. While officials say the ruling's rollback will apply only to transportation, it could also pave the way for the deregulation of power plants and fuel production facilities. Tailpipe bonanza? Industry observers note that the car industry never asked for the change, so it's unclear if it'll lean into the combustion engine free for all: - Analysts say DC taking its hands off the wheel on regulating car pollution could prompt some states—like California, which is the biggest car market in the US—to go full throttle on imposing their own emissions standards. Automakers would still have to comply with state regulations—and with stringent requirements abroad.
- Some legal experts noted that carmakers could also be apprehensive about investing in tech advantaged by laxer US standards given the potential for a rule reversal by a future presidential administration.
While the energy trade group American Petroleum Institute advocates against regulating vehicle exhaust, some automakers like Ford have previously supported strong and predictable emissions standards. Uncle Sam will probably need to lawyer up…as attorneys general in several Democratic states previously said that the EPA revoking the finding may violate federal law and Supreme Court precedent. Environmental groups are all but certain to sue the government, setting the stage for years of court battles.—SK | | |
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Presented By AT&T Connected Car Presidents Day weekend is calling—and it wants you to hit the road. Loud playlists, super-salty snacks, and the wide, open road…you get the picture. The only thing that could ruin your road trip is if your carefully curated playlist got trapped in No Wi-Fi Land. With AT&T Connected Car™, you don't have to worry about that. It turns your car into a rolling Wi-Fi hotspot to keep the good vibes going. Movies? Check. Games? Check. Browsing? Check and check. Your passengers have it all, thanks to AT&T Connected Car. Let freedom (and your favorite tunes) ring. |
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WORLD  FBI released footage from Nancy Guthrie's door camera. More than a week after Nancy Guthrie—the 84-year-old mother of Today co-host Savannah Guthrie—disppeared, authorities released the first surveillance images and videos connected to the case. They show a masked and armed individual appearing to tamper with the Nest camera on Nancy Guthrie's front door on the day of her disappearance. The FBI said it has not identified any suspects or persons of interest, calling the masked individual a "potential subject." The second deadline for an unverified ransom demanding $6 million in Bitcoin for Nancy Guthrie's return passed yesterday. Late Tuesday night, police detained a person for questioning in the case and searched a location in Rio Rico, AZ, about an hour outside of Tucson. The person detained was later released and told reporters that he did not know who Nancy Guthrie was.
 American Airlines flight attendants push to oust CEO. The union representing the airline's 28,000 flight attendants issued a vote of no confidence against CEO, Robert Isom, as the carrier continues to lag behind rivals like Delta and United. Workers were also frustrated after the airline struggled to recover from recent winter storms and crews were reportedly left stranded in some locations. And it's not just flight attendants calling leadership into question: Last week, the pilots' union asked to meet with American's board to discuss the company's "underperforming path." American earned $111 million last year, compared with $5 billion for Delta and $3.3 billion for United.
 Paramount sweetened its hostile Warner Bros. Discovery offer. If you were thinking that sweetening a hostile takeover bid sounds like an oxymoron, you'd be correct, but that is what happened yesterday when Paramount Skydance upped its offer to steal WBD away from Netflix's proposed acquisition. While Paramount did not increase its per-share offer, the company did say it would cover the $2.8 billion termination fee that WBD would owe if its Netflix deal falls through, as well as agree to a "ticking fee" paid to shareholders if there are regulatory delays in a Paramount-WBD merger. WBD confirmed it received the unsolicited offer and said its board would review it, but observers do not expect it will sway them from the Netflix deal.—AE
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ENTERTAINMENT Spotify Wrapped is more than just a way to let people know that you listened to 11,629 minutes of Geese last year. It's also a big reason for the outstanding earnings report that Spotify released yesterday, revealing record user growth over the final three months of 2025. The Swedish company's stock popped 15% after it reported earnings per share and revenue that exceeded analyst expectations along with a massive jump in user numbers during Q4: - Between October and December, Spotify added a record 38 million new listeners.
- Monthly active users rose 11% to 751 million over the prior year.
- Paid subscribers climbed 10% to 290 million year over year.
- Wrapped also had its best showing: More than 300 million users engaged with the feature that told everyone their listening age was 89.
More than Wrapped: Spotify has unveiled a slew of features recently. One gives users the ability to exclude suggested songs. Another, prompted playlist, is part of the company's AI push, allowing listeners to create AI-generated playlists via text prompts. Looking ahead…Spotify projects it will add 8 million new users in the current quarter, since it expects some churn due to the increase in a premium subscription from $11.99 to $12.99 that started this month.—DL | | |
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AUTO The Italian automaker unveiled the inside of its first all-electric vehicle this week, the Ferrari Luce, and it's no coincidence that it resembles an Apple store Transformer—former Apple design chief Jony Ive's creative firm dreamed up the car's interior. First impressions are positive: One of the starkest differences between the Luce's aesthetic and Apple's is the plethora of physical controls meant to keep drivers' eyes on the road. "Everything feels satisfyingly clicky or twisty," Wired reviewers wrote. Other than that, the Luce may be giving Apple order envy since the tech company canned its decade-long car project two years ago: - The typical Ive/Apple trifecta of rounded edges, glass, and brushed aluminum are everywhere. "You don't touch anything but aluminum, glass, or leather" was a common refrain by Ferrari employees at a press event, Wired reported.
- The glass in question is from the same company that supplies it for iPhones.
- The behind-the-wheel display uses Samsung's OLED screens, which Apple products also rely on.
Next…Ferrari will reveal the exterior of the Luce (formerly Elettrica) in May, after pre-orders open in March. Humming along: Ferrari's stock surged this week after it beat revenue expectations and projected better-than-estimated earnings for the rest of the year, citing solid demand.—ML | | |
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STAT The phrases "Dollar Tree" and "$525 Wagyu beef" had never before appeared in the same sentence until Bloomberg reported on the discount store's increasingly wealthy clientele yesterday. According to the outlet's analysis: - Nearly half of new Dollar Tree locations in the last six years opened in wealthy areas.
- Last quarter, 60% of new customers made at least $100,000 per year.
While affluent patrons visit less often than lower-income ones, they spend $1 more on average per visit, which would equate to $1 billion in additional annual sales if the company were able to get them to shop there just once more per year. The analysis adds to the mountain of evidence that the US economy is geared toward higher-income consumers.—AE |
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NEWS - Nine people were killed by a shooter at a school and residence in British Columbia yesterday, making it one of Canada's deadliest mass shootings. The shooter was also found dead, authorities said.
- Commerce Secretary Howard Lutnick admitted to visiting Jeffrey Epstein's private island with his family while on vacation in 2012.
- President Trump threatened to block a bridge connecting Detroit to Canada from opening until Canada "treats the United States with the Fairness and Respect that we deserve."
- Ford reported an $8 billion loss for last year as it dealt with charges from its EV business and a surprisingly large tariff bill.
- US holiday retail sales unexpectedly cooled in December, with eight out of 13 retail categories decreasing.
- Tony Wu, the co-founder of Elon Musk's xAI, resigned from his role this week, becoming the latest senior executive to leave the artificial intelligence startup.
- Super Bowl LX was watched by an average of 124.9 million viewers in the US, the second-most of all time behind only last year's 127.7 million.
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RECS  Welcome: A tin fish doormat. Need we say more?**
Live: The best and worst states for retirement. Learn: An interactive tool showing how half the world's languages came from the same one. Eat: The best new products at Trader Joe's this winter. Full bars ahead: Hit the road for the long weekend with AT&T Connected Car™. They'll keep your car connected so your passengers can stream, game, and browse.* *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 Word Search: Who's the famous rag doll with red-yarn hair? She factors into today's Word Search. Play it here. Hockey trivia The men's ice hockey tournament begins today at the Olympics. We'll give you the last names of five players on a country's roster, and you have to name the country they play for. - MacKinnon, McDavid, Makar, Toews, Marchand
- Forsberg, Holmberg, Johansson, Zibanejad, Andersson
- Hughes, Eichel, Tkachuk, McAvoy, Hellebuyck
- Kakko, Kapanen, Lehkonen, Rantanen, Heiskanen
- Hischier, Niederreiter, Meier, Siegenthaler, Kurashev
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SHARE THE BREW  Share the Brew, watch your referral count climb, and unlock brag-worthy swag. Your friends get smarter. You get rewarded. Win-win. Your referral count: 0 Click to Share Or copy & paste your referral link to others:
morningbrew.com/r/?kid=eaab23a8 |
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ANSWER - Canada
- Sweden
- United States
- Finland
- Switzerland
Source Word of the Day Today's Word of the Day is: oxymoron, meaning "a figure of speech in which seemingly contradictory terms appear side by side." Thanks to Patrick from Toronto and many others for the suggestion. Submit another Word of the Day here. |
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| ✳︎ A Note From Frontieras This is a paid advertisement for Frontieras' Regulation A offering. Please read the offering circular at https://invest.frontieras.com. Reservation of the ticker symbol is not a guarantee that we will be listed on the Nasdaq. Listing on the Nasdaq is subject to approvals. 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 AT&T Connected Car Requires eligible car and wireless service plan. Additional restrictions apply. |
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