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Wednesday, August 21, 2019

Fwd: ☕️ Secret stuff





AUTOBLOGZ


Facebook launches a long-awaited privacy tool...
August 21, 2019 Read in Browser

SPONSORED BY

Fidelity

Good morning. The 25th James Bond movie finally has a title, No Time To Die. To celebrate, we'll give you four cocktails. You have to decide whether they're traditionally shaken or stirred. 

  1. Manhattan
  2. Cosmopolitan
  3. Daiquiri
  4. Martini

Answer at the bottom.

 


MARKETS

S&P

2,900.78

-0.78%

NASDAQ

7,948.56

-0.68%

DJIA

25,965.70

-0.65%

10-YR

1.546%

-6.4 bps

GOLD

1,517.60

+0.40%

OIL

56.18

-0.05%

*As of market close

  • U.S. markets: As you'll read, President Trump stole most of this section's thunder. But the Dow snapped a three-day winning streak.

 


ECONOMY

Trump's Looking for Answers

please turn your images on

Francis Scialabba

After a tumultuous couple of weeks, the Trump administration is considering adding some magic powder to juice the U.S. economy. 

Big picture: The economy's been gangbusters before and after Donald Trump's inauguration in January 2017. Unemployment is hanging at a 50-year low and consumers continue to spend as freely as ever. However, equal parts trade war, economies faltering in Europe, and yield curve inversion have conspired to create a cocktail of recession anxieties. 

Earlier in the week, Trump took out frustrations on his favorite punching bag: the Fed. But yesterday he confirmed he's thinking about "various tax reductions" of his own while arguing the economy is fine without resorting to those moves. 

Option No.1: Payroll tax cut 

Trump said he's considering a temporary cut to the payroll tax. 

  • What that is: U.S. worker income up to $132,900 annually is docked 6.2% to fund Social Security and 1.45% to fund Medicare. 
  • Pros: A cut could potentially add billions to Americans' take-home income.  
  • Cons: It would probably add to the deficit and drain Social Security. 

Option No. 2: Capital gains tax cut 

Trump also floated a capital gains tax reduction, indexing the tax to inflation. 

  • What that is: A tax levied on profitable investment sales. 
  • Pro: A cut would benefit wealthy investors. 
  • Con: Without first getting congressional approval, it would likely be challenged in court the moment Trump signed it. 

What went unmentioned...

...were concerns about the U.S.-China trade conflict, which is causing major economic worries. Last month, the Fed released a report concluding the trade war may be limiting business spending. Hugging it out with President Xi would probably provide the boost Trump's looking for.

Bottom line: A faltering economy could seriously impair Trump's campaign for reelection. The state of the economy can make or break an incumbent; just ask Jimmy Carter in 1980.

        

 


EUROPE

Italian Prime Minister: "I Quit and That Guy's a Jerk"

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CC-BY-4.0: © European Union 2019 – Source: EP

Italy's prime minister Giuseppe Conte announced his resignation yesterday after blaming his own interior minister of sabotaging the country's institutions. It's how Ned Stark would have done it. 

That interior minister is Matteo Salvini, the surging star and leader of the far-right League party. Last summer, his party linked up with the populist Five Star Movement to form a government, but around two weeks ago Salvini said, "hey fellas...this isn't going to work out" and called for snap elections. 

What's not working out in Italy:

  • Economic growth is what economists like to call "nonexistent."   
  • With a Mt. Everest of public debt that's more than 130% of GDP (second in Europe only to Greece), Italy's debt burden breaks EU rules. The country has to figure out its budget by this fall.  

There's the rub: Salvini's clashed with Brussels over the EU's fiscal requirements. "I don't want Italy to be a slave to anyone, and I don't want Italy to be given a long chain like a little dog," he said.

Looking ahead...expect either snap elections or the formation of a new coalition that freezes Salvini out.

        

 


TECH

Surf the Web Without Zuck Peeking

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Giphy

Yesterday, Facebook users in Ireland, Spain, and South Korea got first dibs on a new privacy tool that disconnects their activity on other websites from Facebook's data collection. 

FB tracks me when I'm not on the site? Welcome back to our collective privacy awakening of 2k18. Facebook has embedded business tools on other sites—like those facilitated logins—that scrape your internet activity even when you're not on its platforms. 

The new tool, called "Off-Facebook Activity," shows users which apps/sites send their browsing data to FB. Users can then dissociate their personally identifying information from Facebook's activity-tracking data, and reconnect later if they're missing the companionship of a toothpaste ad. 

  • Zuck announced the tool in May 2018, but it was delayed as Facebook figured out how to redesign its information processing systems. After all, it's hard to build privacy tools when your business is grounded on knowing everything users do.

Reality check: Facebook's acting like it's doing everyone a big privacy favor...but remember it's reacting to various regulatory inquiries and a user base that's decided privacy is en vogue.

        

 


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Bottom line: Having a financial plan for a happy retirement is one of the first steps to making it happen.

Learn more.**

 


MEDIA

American Documentary Drops Today

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Netflix

18 years ago today, Nickelback released "How You Remind Me." We suggest you mark the event with a documentary that will remind you about how globalization has affected the Midwest.

American Factory, created by filmmakers Steve Bognar and Julia Reichert, is available on Netflix today. 

  • Gone Hollywood: The doc is the first title released from Higher Ground, Barack and Michelle Obama's production company. 

Some backstory...

The beginning: In 2008, GM shuttered a plant that assembled trucks outside of Dayton, OH, leaving around 2,700 employees without work.

The middle: In 2014, a lifeline. A Chinese billionaire invested in the plant and hired over 1,000 Americans to work alongside Chinese employees at Fuyao Glass America, an automotive glass maker. Bognar and Reichert decided to chronicle the shift in a feature-length film, spotlighting the cultural differences between Chinese and American employees on issues like working conditions and time off.

The end: Reviewers say the resulting film is an even-handed exploration of global commerce at a time when it's as relevant as ever.  

You can watch it tonight. Socializing is for nerds.

        

 


INTERNET

We'll Miss You, FogCam

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FogCam

This month, the oldest operating internet webcam will shut down, the site's administrators said Saturday. FogCam started as a student project at San Francisco State University (go Gators) and, barring a few location changes and maintenance updates, has faithfully broadcast campus images since 1994. 

FogCam was inspired by the first internet webcam, a coffee pot livestream created by scientists at the University of Cambridge. 

By today's standards, FogCam's pretty simplistic. But in 1994, when the internet was pay-per-minute, it was cutting edge. FogCam's basically a lock for the Smithsonian Guggenheim Museum of Internet History.

Zoom out: Early webcams gave internet users their first taste of streaming. In the decades since, they've sped up, streamlined, and democratized video communications.

FogCam co-founder Jeff Schwartz said Adam Curry used it as a model for his website (something called "MTV"). And another early webcam of a fish tank—created by Netscape's founding engineer Lou Montulli—served as a testbed for internet improvements that laid the foundation for e-commerce, GIFs, and uploaded photos.

        

 


WHAT ELSE IS BREWING
  • Apple (+0.00%) said its Apple Card is now available to all U.S. customers.
  • Walmart (-1.55%) is suing Tesla (-0.43%) over alleged solar panel-sparked fires at about seven Walmart locations.
  • Huawei is facing a "live-or-die moment," founder Ren Zhengfei wrote in a company memo. 
  • St. Louis is getting an MLS expansion team to start play in 2022. It'll be the first female-majority-owned team in league history. 
  • U.S. banking regulators approved changes to the Volcker Rule in a win for Wall Street.
  • Marvel's Kevin Feige won't be producing any more Spider-Man films as Disney and Sony Pictures couldn't agree to financial terms, reports Deadline.

 


BREAKROOM

Brew's Bets 

  • After a long day, the last thing you want to do is grocery shop. EveryPlate's got you covered. They deliver a delicious and wallet-friendly dinner right to your doorstep. Snag 3 weeks of meals for only $3.33 each with free shipping on your first delivery. Get your meals now.*
  • The $12 trillion opportunity. That's the difference between 4G and 5G technology—and Wealthpress's expert research knows what's coming next. Take their advice for which stocks are ready to explode: don't miss out.* 

  • Believe it or not, there are other great morning newsletters. Quartz Daily Brief is a fantastic read, keeping you informed about scientific breakthroughs, market-moving announcements, and key global developments. Sign up here.
  • Always interesting: The most popular Patreon creators

*This is a sponsored post

Don't Be a Square

How many squares are there on a chessboard? Don't say 64...


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BREAKROOM ANSWERS

Don't Be a Square
There's 1 8x8 square, 4 7x7 squares, 9 6x6 squares, 16 5x5 squares, 25 4x4 squares, 36 3x3 squares, 49 2x2 squares, and 64 1x1 squares.

Total = 204

Shaken or Stirred 

  1. Manhattan: Stirred
  2. Cosmopolitan: Shaken
  3. Daiquiri: Shaken
  4. Martini: Stirred



---------- Forwarded message ---------
From: Morning Brew <crew@morningbrew.com>
Date: Wed, Aug 21, 2019 at 6:26 AM
Subject: ☕️ Secret stuff
** A Note from Fidelity

Investing involves risk, including risk of loss. 

This is a Fidelity Investments sponsored post. Articles provided for this newsletter are for informational purposes only and their accuracy and completeness are not guaranteed by Fidelity Investments. Morning Brew is neither employed by nor affiliated with Fidelity Investments and their opinions do not necessarily reflect those of Fidelity Investments. By providing this third party publication, link to a third party web site for online publication or article, Fidelity Investments is not implying an affiliation, sponsorship, endorsement, approval, investigation, verification or monitoring by Fidelity Investments of any information contained in the publication. Fidelity Investments is not responsible for the information contained on any third party website or your information is not a solicitation on our part with respect to the purchase or sale of any securities, investments, strategies or products that may be mentioned. In addition, the information and data used in the publication or article are as of the date of the article when it was written and are subject to change without notice. 

*The only additional expenses clients pay associated with the mutual funds held in a Fidelity Personalized Planning & Advice account will be for certain expenses of the Fidelity Government Cash Reserves Fund, however some of those fund expenses may be offset by a fee credit.

Fidelity® Personalized Planning & Advice provides non-discretionary financial planning and discretionary investment management for a fee. Advisory services offered by Fidelity Personal and Workplace Advisors LLC (FPWA), a registered investment adviser. Discretionary portfolio management services provided by Strategic Advisers LLC (Strategic Advisers), a registered investment adviser. Brokerage services provided by Fidelity Brokerage Services LLC (FBS), and custodial and related services provided by National Financial Services LLC (NFS), each a member NYSE and SIPC. FPWA, Strategic Advisers, FBS and NFS are Fidelity Investments companies. 

Fidelity Brokerage Services, Member NYSE, SIPC. ©2019 FMR LLC. All rights reserved.

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