|  | Nasdaq | 22,374.18 | |
| | S&P | 6,699.38 | |
| | Dow | 46,946.41 | |
|  | 10-Year | 4.220% | |
| | Bitcoin | $74,405.72 | |
| | Meta | $627.45 | |
| | Data is provided by |  |
*Stock data as of market close, cryptocurrency data as of 6:00pm ET. Here's what these numbers mean. | - Markets: Traders remained focused on the Middle East yesterday, with stocks rising as oil prices pulled back some.
- Stock spotlight: Meta got a boost from a Reuters report that it plans to lay off 20% of its staff to balance out its AI spending even though the company called it "speculative."
| Markets Sponsored by Miso Robotics Take a bite: Miso Robotics' Flippy Fry Station robot has already fried up millions of orders for fast-food restaurants—a $1t market. Learn more and invest here. |
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SAFETY BUBBLE POPPED Since the war in Iran began, drone attack videos have coexisted with photos of influencers sipping on gold-flaked cocktails when it comes to Dubai's image. Yesterday, an Iranian drone struck the Dubai International Airport, causing a fire. There were no injuries, but flights were paused for hours at what is, in peacetime, the world's busiest airport for international travel. Iranian attacks have killed four people in the UAE as Iran has retaliated against the campaign being waged by the US and Israel with strikes throughout the region. Shrapnel damaged several luxury landmarks in Dubai—shaking its reputation as an amenities-rich playground for the world's wealthy that's shielded from nearby regional conflicts. Flight not flights Dubai's location between Europe and Asia made its main airport a natural global hub connecting 291 cities and serving 95 million passengers last year—among them 19.6 million tourists flocking to Dubai's clubs, beaches, and shopping malls. Now, the UAE's flagship carrier, Emirates, famous for in-flight bougieness, has cut US-bound Airbus A380 flights by 51% in March, according to a Simple Flying analysis. Passengers flying to Dubai in recent days posted videos of eerily empty planes—to complement photos of the city's usually bustling beaches and markets looking like ghost towns. Besides tourists, Dubai's economy rests on millionaires and white-collar expats continuing to live and spend there: - Some worry about permanent capital flight, with lawyers and asset managers telling the Wall Street Journal that clients have inquired about transferring money out of Dubai amid the conflict.
- Dubai is particularly vulnerable to population loss as almost nine in 10 residents don't have citizenship status and many lack a sense of rootedness in the city, urbanist Richard Florida argued in the New York Times.
- Dubai has over 80,000 millionaires who are able to pack their bags in the case of a calamity.
Keep calm and carry on…appears to be the message from UAE authorities, who have banned posting photos of damage from Iranian attacks. The country's president visited a Dubai luxury mall in the conflict's early days to project business-as-usual vibes.—SK | | |
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Presented By Miso Robotics That's what NVIDIA CEO Jensen Huang said about robotics, aka "physical AI." In fact, financial thought leader Ark Invest says it could be a $24 trillion global opportunity. So when Jensen Huang's NVIDIA handpicked Miso Robotics to collaborate on cutting-edge robotics AI, the industry noticed. Miso's AI-powered Flippy Fry Station robots have logged 200k+ hours in live kitchens for the $1t fast-food industry. Today, White Castle, Jersey Mike's, Häagen-Dazs, Cinnabon, Auntie Anne's, and more all use Miso's tech. Now, with strategic investment from industry powerhouse Ecolab, Miso is boosting manufacturing capacity to target 100k+ US fast-food locations in desperate need. That's a $4b/year revenue opportunity for the taking. Claim your piece as an early-stage Miso investor and unlock up to 7% bonus stock today. |
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WORLD  Allies wary of US' call for coalition to reopen Strait of Hormuz. President Trump called on US allies, including NATO, to help reopen the crucial waterway for transporting oil, which Iran has effectively closed amid the war. Trump claimed yesterday that "numerous countries have told me they're on the way." Yet many close allies have not jumped to send ships: Germany said yesterday it would not, Japan and Australia also appeared unlikely to participate, and the UK and France said they were still considering the issue. Meanwhile, Trump, who also sought to get China involved over the weekend, said yesterday he had asked to push back his planned trade meeting with Xi Jinping by about a month because of the war.
 The weather outside your window has likely been extreme. More than half of the US population experienced extreme weather conditions yesterday, with AccuWeather estimating 200+ million people were at risk. Storms blanketed the Midwest in snow before heading east, where they brought strong winds and tornado risks to the coast. Thousands of flights were cancelled. Meanwhile, on the West Coast and Southwest, temperatures are expected to reach triple digits this week. And rains caused floods in Hawaii.
 Nvidia expects $1 trillion in chip sales through 2027. CEO Jensen Huang made the prediction at the company's annual developer conference yesterday that the Blackwell and Vera Rubin chips would generate those sales, saying demand is booming. He showed off new chips, including the Groq 3 language-processing unit, which is designed to help support the industry shift from developing AI models to running them. The company also announced a chip for data centers in space.—AR
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ONE CATTLE AFTER ANOTHER About 3,800 employees at the JBS-owned factory in Greeley, CO—one of the largest slaughterhouses in the US—yesterday initiated the first walkout from a meat-processing plant in four decades. The union claims wages are behind the pace of inflation and the company has created an unsafe working environment, which JBS refutes. The strike comes with the cost of beef soaring and JBS reporting $566 million in losses through the first nine months of 2025. The US cattle population is at a 75-year low, and that scarcity has led cattle ranchers to increase their prices, putting a strain on the bottom line for the meatpacking industry. Where's the beef? The last time there was a strike at a US slaughterhouse was at a Hormel plant in Minnesota in 1985, according to the Greeley workers' union leader, Kim Cordova. That work stoppage lasted a year. Going south: High prices are also affecting consumers—the average cost for a pound of 100% ground beef in February was $6.74, about a penny shy of an all-time high set in January, per the Bureau of Labor Statistics. To help offset the cost of cheesesteaks and burgers, President Trump signed an executive order last month to quadruple beef imports from Argentina. US cattle ranchers argued the move will damage livelihoods while doing little to bring down beef prices.—DL | | |
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A WILD AI MODEL APPEARED Ten years ago you were catching Rattatas with the homies, and now all that work is going to help sidewalk droids deliver hoagies. The internet is reeling this week after learning that Niantic Spatial, part of the team from Pokémon Go, recently struck a deal to train food delivery robots using data the game collected from users. One of the world's largest visual data sets. Niantic Spatial, an AI company spun off from Pokémon Go developer Niantic, built a model that can reportedly geolocate down to the centimeter using 30+ billion images captured by Pokémon Go users. Now: - A Sam Altman-backed company called Coco Robotics will use this tool to teach its 1,000-bot fleet to better navigate Los Angeles, Chicago, and a few other cities where it operates.
- Coco expects Niantic Spatial's model—which identifies locations by sight—to help in urban areas where tall buildings can interfere with GPS signals.
Players may not have realized…a 2020 Pokémon Go feature called "Field Research" incentivized image collection by rewarding them for scanning real-world landmarks. Many users may feel duped by the robotics partnership: Niantic only announced its plan to build a navigation model using Pokémon Go data in 2024. Looking ahead…Niantic Spatial ultimately wants to build a live map of the entire world, a company executive told MIT Technology Review.—ML | | |
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STAT The year was 2010: A peplum top was standard going-out attire, Justin Bieber had just released "Baby," and billionaires were signing onto the Giving Pledge—an effort backed by Warren Buffett and Bill Gates that asked the ultrawealthy to commit more than half their money to nonprofits. But much like the Blackberry as the go-to tech for busy business people, the pledge has significantly dipped in popularity since then. The New York Times reports: - In the pledge's first five years from 2010–2015, 113 people signed. Over the next five years, 72 signed one. And the next five garnered just 43 new signatories—with only four new sign-ons in 2024. Last year, 14 people signed.
- In the past two years, Coinbase's Brian Armstrong unsigned, and Oracle's Larry Ellison said he was amending his (nonbinding) pledge to enable giving to more for-profits.
But despite growing backlash from the billionaires it's aimed at amid a very different political climate (and critics from the left, who assert signers aren't giving away enough money), backers say the pledge helped establish a new norm of giving among the wealthiest.—AR |
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NEWS - A federal judge temporarily blocked an order from Health Secretary Robert F. Kennedy Jr. slimming down the number of recommended childhood vaccines.
- Cuba suffered an island-wide blackout as its energy crisis caused by a US blockade continues.
- Bank of America has settled a lawsuit brought by victims of the late sex offender Jeffrey Epstein that accused the bank of facilitating his crimes.
- Susie Wiles, the White House chief of staff, has been diagnosed with breast cancer and plans to continue working while receiving treatment.
- US airline CEOs urged Congress to pay TSA staff during the DHS shutdown.
- Peloton is releasing bikes and treadmills for gyms, after demand slowed down as Covid restrictions were lifted.
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PLAY Brew Mini: Holly finished today's Mini in one minute flat. Can you beat that? Give it a try here. St. Patrick's Day trivia Guinness's logo contains an instrument, which faces right instead of left to be distinct from the Irish coat of arms. What is it? |
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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 The harp Word of the Day Today's Word of the Day is: incentivized, meaning "provided with a reason to do something." Thanks to Sheila from Seattle for giving us the perk of a suggestion. Submit another Word of the Day here. |
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