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          Oil soars past $100 as Houthis attack tankers...
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                    July 24, 2026
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                    <a rel="noopener noreferrer" style="color:#000;text-decoration:none" target="_blank">
                     View Online
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                     Sign Up
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                     Shop
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                     Presented By
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                     <img alt="Sponsor Logo: Anthropic, the team behind Claude" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D260%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-07-23%252Fimage-0f1effb6aea3c8734a98393c705aaf89b17d1a70-260x60-png%252FLogo.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODQ4ODgzMTguNzUzNjAzN30:1wnCzG:ye2Yd_y9wXUaPVaasMEAQCQLT0YVQBVw1zBegNyi_GQ" style="display:inline;max-width:130px;vertical-align:middle;width:100%" width="130"/>
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                     <strong style="color:#000;font-weight:bold">
                      Happy Friday.
                     </strong>
                     Taco Bell is
                     <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                      offering
                     </a>
                     $1 lettuce-free Enchiritos today to win back customers after health officials linked the infamous diarrhea parasite to lettuce sold at some of its locations.
                    </p>
                    <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                     A mix between an enchilada and a burrito, the beef- and bean-filled Enchirito is smothered in sauce and melted cheese. A combination that has never given anyone diarrhea.
                    </p>
                    <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                     <em>
                      —Sam Klebanov, Matty Merritt, Molly Liebergall, Dave Lozo, Adam Epstein, Holly Van Leuven
                     </em>
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                     <strong style="color:#000;font-weight:bold">
                      In today’s newsletter,
                     </strong>
                     we’ll get into:
                    </p>
                    <ul style="color:#333;margin-top:0;padding-left:30px">
                     <li style="color:#333;line-height:22px;margin-bottom:10px">
                      Oil topping $100 as the Middle East conflict escalates
                     </li>
                     <li style="color:#333;line-height:22px;margin-bottom:10px">
                      Trump Media selling faster access to the president’s posts
                     </li>
                     <li style="color:#333;line-height:22px;margin-bottom:10px">
                      Amazon adding video games to Prime Video
                     </li>
                    </ul>
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Markets
                        </p>
                       </td>
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                       <td class="pad5m">
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                         <tbody>
                          <tr>
                           <td class="pads10 pads6m" style="text-align:center;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0px;mso-padding-alt:0 20px 0 20px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
                             <tbody>
                              <tr>
                               <td class="markets-arrow-cell" style="text-align:center;width:12%;line-height:1em" valign="middle">
                                <img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252Fe4a85d043f857cc8adaca9d546c099f6d7db37ba-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODQ4ODgzMTguNzUzNzE4OX0:1wnCzG:4NVPZJK9_FllpxhQ42ERUJhndNTR5y7AIBccJ__1n9c" style="width:22%" width="20"/>
                               </td>
                               <td class="markets-ticker-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 Nasdaq
                                </p>
                               </td>
                               <td class="markets-value-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 25,137.69
                                </p>
                               </td>
                               <td class="markets-bubble-cell" style="width:20%;padding-top:8px;padding-bottom:8px" valign="middle">
                                <table border="0" cellpadding="0" cellspacing="0" class="markets-bubble" role="presentation" style="border-collapse:collapse;width:70%;margin:0 auto">
                                 <tbody>
                                  <tr>
                                   <td style="background-color:rgba(255, 3, 3, 0.3);border-radius:8px;padding:10px 8px" valign="middle">
                                    <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:center;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                     -2.15%
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
                          </tr>
                          <tr>
                           <td class="pads10 pads6m" style="text-align:center;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0px;mso-padding-alt:0 20px 0 20px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
                             <tbody>
                              <tr>
                               <td class="markets-arrow-cell" style="text-align:center;width:12%;line-height:1em" valign="middle">
                                <img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252Fe4a85d043f857cc8adaca9d546c099f6d7db37ba-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODQ4ODgzMTguNzUzODU1N30:1wnCzG:yiGLd-bAYYN--BbLltUWLCm62Hyevk4onvd9dRzCqiY" style="width:22%" width="20"/>
                               </td>
                               <td class="markets-ticker-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 S&amp;P
                                </p>
                               </td>
                               <td class="markets-value-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 7,408.3
                                </p>
                               </td>
                               <td class="markets-bubble-cell" style="width:20%;padding-top:8px;padding-bottom:8px" valign="middle">
                                <table border="0" cellpadding="0" cellspacing="0" class="markets-bubble" role="presentation" style="border-collapse:collapse;width:70%;margin:0 auto">
                                 <tbody>
                                  <tr>
                                   <td style="background-color:rgba(255, 3, 3, 0.3);border-radius:8px;padding:10px 8px" valign="middle">
                                    <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:center;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                     -1.21%
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
                          </tr>
                          <tr>
                           <td class="pads10 pads6m" style="text-align:center;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0px;mso-padding-alt:0 20px 0 20px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
                             <tbody>
                              <tr>
                               <td class="markets-arrow-cell" style="text-align:center;width:12%;line-height:1em" valign="middle">
                                <img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252Fe4a85d043f857cc8adaca9d546c099f6d7db37ba-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODQ4ODgzMTguNzUzOTY2OH0:1wnCzG:gG_gt5XFICxNyGsJRSoMqJjGiUmCs-kejeYiUI73KHQ" style="width:22%" width="20"/>
                               </td>
                               <td class="markets-ticker-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 Dow
                                </p>
                               </td>
                               <td class="markets-value-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 51,711.65
                                </p>
                               </td>
                               <td class="markets-bubble-cell" style="width:20%;padding-top:8px;padding-bottom:8px" valign="middle">
                                <table border="0" cellpadding="0" cellspacing="0" class="markets-bubble" role="presentation" style="border-collapse:collapse;width:70%;margin:0 auto">
                                 <tbody>
                                  <tr>
                                   <td style="background-color:rgba(255, 3, 3, 0.3);border-radius:8px;padding:10px 8px" valign="middle">
                                    <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:center;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                     -0.97%
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
                          </tr>
                          <tr>
                           <td class="pads10 pads6m" style="text-align:center;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0px;mso-padding-alt:0 20px 0 20px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
                             <tbody>
                              <tr>
                               <td class="markets-arrow-cell" style="text-align:center;width:12%;line-height:1em" valign="middle">
                                <img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F6097ec1c26b17401a61bfbfe4440c75ebfea1886-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODQ4ODgzMTguNzU0MDgzNH0:1wnCzG:t62tY8sjzHbac21xYhVGoBlhnYoE-96PuibZmQZLoRk" style="width:22%" width="20"/>
                               </td>
                               <td class="markets-ticker-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 10-Year
                                </p>
                               </td>
                               <td class="markets-value-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 4.703%
                                </p>
                               </td>
                               <td class="markets-bubble-cell" style="width:20%;padding-top:8px;padding-bottom:8px" valign="middle">
                                <table border="0" cellpadding="0" cellspacing="0" class="markets-bubble" role="presentation" style="border-collapse:collapse;width:70%;margin:0 auto">
                                 <tbody>
                                  <tr>
                                   <td style="background-color:rgba(40, 211, 26, 0.3);border-radius:8px;padding:10px 8px" valign="middle">
                                    <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:center;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                     +5.0 bps
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
                          </tr>
                          <tr>
                           <td class="pads10 pads6m" style="text-align:center;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0px;mso-padding-alt:0 20px 0 20px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
                             <tbody>
                              <tr>
                               <td class="markets-arrow-cell" style="text-align:center;width:12%;line-height:1em" valign="middle">
                                <img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252Fe4a85d043f857cc8adaca9d546c099f6d7db37ba-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODQ4ODgzMTguNzU0MTg4fQ:1wnCzG:N74ztcjwTzbSTZnbxx0_eH-lJDRrvfXyC2TyjB6etTo" style="width:22%" width="20"/>
                               </td>
                               <td class="markets-ticker-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 Bitcoin
                                </p>
                               </td>
                               <td class="markets-value-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 $65,080
                                </p>
                               </td>
                               <td class="markets-bubble-cell" style="width:20%;padding-top:8px;padding-bottom:8px" valign="middle">
                                <table border="0" cellpadding="0" cellspacing="0" class="markets-bubble" role="presentation" style="border-collapse:collapse;width:70%;margin:0 auto">
                                 <tbody>
                                  <tr>
                                   <td style="background-color:rgba(255, 3, 3, 0.3);border-radius:8px;padding:10px 8px" valign="middle">
                                    <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:center;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                     -1.23%
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
                          </tr>
                          <tr>
                           <td class="pads10 pads6m" style="text-align:center;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0px;mso-padding-alt:0 20px 0 20px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
                             <tbody>
                              <tr>
                               <td class="markets-arrow-cell" style="text-align:center;width:12%;line-height:1em" valign="middle">
                                <img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252Fe4a85d043f857cc8adaca9d546c099f6d7db37ba-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODQ4ODgzMTguNzU0MjkxfQ:1wnCzG:H7cupXl7aD14TSHeRG1TP_V3-LB-yJa-b-TSJXS6jJM" style="width:22%" width="20"/>
                               </td>
                               <td class="markets-ticker-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 Tesla
                                </p>
                               </td>
                               <td class="markets-value-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 $319.69
                                </p>
                               </td>
                               <td class="markets-bubble-cell" style="width:20%;padding-top:8px;padding-bottom:8px" valign="middle">
                                <table border="0" cellpadding="0" cellspacing="0" class="markets-bubble" role="presentation" style="border-collapse:collapse;width:70%;margin:0 auto">
                                 <tbody>
                                  <tr>
                                   <td style="background-color:rgba(255, 3, 3, 0.3);border-radius:8px;padding:10px 8px" valign="middle">
                                    <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:center;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                     -14.52%
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
                          </tr>
                          <tr>
                           <td style="padding:3px 15px 10px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;font-size:13px">
                             <tbody>
                              <tr>
                               <td style="color:#333;padding-right:4px">
                                Data is provided by
                               </td>
                               <td style="margin:0;padding-right:5px">
                                <a rel="noopener noreferrer" style="display:block" target="_blank">
                                 <img height="16px" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F61a0dac0b53d6766459afdca784ae8fe604f17ed-720x102.png%253Fh%253D32%2526q%253D100%2526auto%253Dformat/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODQ4ODgzMTguNzU0NDAxN30:1wnCzG:XNZ1lZkfE6PT5VNEWVuZL4bfqqPyOo_V812TPthyHM0" style="vertical-align:middle;height:16px;display:inline"/>
                                </a>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                            <p style="color:#333;text-align:left;margin:0;padding:0;font-size:13px;line-height:22px">
                             *Stock data as of market close, cryptocurrency data as of
                             <!-- -->
                             <!-- -->
                             5:00pm
                             <!-- -->
                             <!-- -->
                             ET.
                             <!-- -->
                             <a class="link" rel="noopener noreferrer" style="color:#333;border-bottom:1px solid #1c7ff2;text-decoration:none" target="_blank">
                              Here's what these numbers mean.
                             </a>
                            </p>
                           </td>
                          </tr>
                         </tbody>
                        </table>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:0 15px;mso-padding-alt:0 15px 15px 15px">
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <strong style="color:#000;font-weight:bold">
                           Markets:
                          </strong>
                          Investors were straight up not having a good time yesterday as stocks
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           plummeted
                          </a>
                          amid increased hostilities in the Middle East (more on that below). Tesla also tanked, but for a different reason—investors were spooked by the amount it’s spending on AI.
                         </li>
                        </ul>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:0 20px;mso-padding-alt:0 20px 15px 20px">
                       </td>
                      </tr>
                     </tbody>
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                 <tbody>
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         LET’S GET THIS STRAIT
                        </p>
                        <a style="color:#000;text-decoration:none" target="blank">
                         <p style="font-size:24px;font-weight:700;line-height:26px;margin:8px 0 0 0;padding:0 15px">
                          Oil soars past $100 as Houthis attack tankers
                         </p>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Ships docked along a pier in the Gulf of Oman" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-07-23%252Fimage-70032052cad20bcd2dfe4ad39e0a61844e10af44-7514x5009-jpg%252FGettyImages-2285448144.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODQ4ODgzMTguNzU0NTIzOH0:1wnCzG:ftypGHVm7NChPDEVXc_wFOnnLeeAt65SFQHnkri2ulE" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </a>
                        <p style="margin:0;padding:0;line-height:22px">
                         <span style="margin-top:5px;margin-bottom:0;padding-left:10px;display:inline-block;line-height:16px">
                          <small style="color:#333">
                           <em>
                            AFP/Getty Images
                           </em>
                          </small>
                         </span>
                        </p>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Yesterday, the Iran-backed Houthi militia, which controls part of Yemen, said it attacked two Saudi oil tankers headed for the Bab el-Mandeb Strait—a critical sea artery that Saudi Arabia uses to ship almost two-thirds of the oil that would typically go through the blockaded Hormuz. The escalation pushed oil prices above
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          $100 per barrel
                         </a>
                         for the first time since May, extending gains from $72 earlier this month.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Now investors are contending with the prospect of a prolonged closure of another key Middle Eastern waterway. Saudi oil could still reach global markets via the Red Sea’s northern exit, aka the Suez Canal, but that would involve longer delivery times for Asian customers and higher costs for vessel operators.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         President Trump said yesterday that he
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          will inflict
                         </a>
                         “major military punishment” on the Houthis and Iran for any future attacks.
                        </p>
                        <h2 style="font-size:19px;color:#000;font-weight:700;margin-top:0;margin-bottom:15px;margin-right:0;margin-left:0">
                         It’s already being felt stateside
                        </h2>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Soaring oil prices are again hitting American wallets and corporate coffers:
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          US gas prices climbed past $4 per gallon this week from $3.94 a month ago and $2.94 in February, when the conflict began.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          This week, American Airlines revised down its yearly earnings estimate for the second time in three months, citing an additional $1.6 billion in expected fuel costs for the rest of the year.
                         </li>
                        </ul>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Pricier oil has also pushed up bond yields in recent days, amid increased odds of the Federal Reserve keeping interest rates elevated or hiking them further to fight inflation.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Meanwhile…
                         </strong>
                         the US emergency oil reserve recently dropped to its lowest level since 1983, as the government pumps millions of barrels into the market in a bid to stabilize prices.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Looking ahead:
                         </strong>
                         If the conflict continues to choke off oil shipments from Iran and other Gulf states, it could push oil prices even higher, analysts say. As could any potential Iranian or Houthi attacks on energy production infrastructure in the region.
                         <em>
                          —SK
                         </em>
                        </p>
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Sponsored By Anthropic, the team behind Claude
                        </p>
                        <a style="color:#000;text-decoration:none" target="blank">
                         <p style="font-size:24px;font-weight:700;line-height:26px;margin:8px 0 0 0;padding:0 15px">
                          <strong style="font-weight:bold">
                           The floor is open for questions
                          </strong>
                         </p>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Sponsor: Anthropic, the team behind Claude" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-07-23%252Fimage-e992389a19f9941de978909f81617bf30fc2e190-1000x750-png%252Fkt3_hope_withtext_1000x750.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODQ4ODgzMTguNzU0OTc3N30:1wnCzG:1aaAl61sHIo1vU9lTfFROHR148AtYw-raVAsA1obb6g" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
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                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         How can AI be used responsibly? What impact will AI have on the next generation’s labor market? Who will govern AI, and when will they start?
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         We know you have important, thoughtful questions about AI. So we teamed up with Anthropic to help make them heard.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Morning Brew readers are formally invited to
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          share the AI questions
                         </a>
                         that are top of mind. From there, we’re going to gather the main themes you asked about and bring them to Anthropic’s leadership.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Don’t feel the need to be shy with your submissions. Anthropic believes
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          there’s hope in hard questions
                         </a>
                         , so the harder, the better.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         We’ll share the answers we get on our Instagram, so stay tuned. In the meantime,
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          submit your questions
                         </a>
                         .
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         World
                        </p>
                        <p style="padding-top:0;font-size:24px;font-weight:700;line-height:26px;color:#333;margin:8px 0 0 0;padding:0 15px">
                         Tour de headlines
                        </p>
                        <img alt="shipping containers and tariffs" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-07-23%252Fimage-1d793cbedf011b6ca648cffa538431d7fd96b37c-1500x1000-png%252Ftariffs.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODQ4ODgzMTguNzU1MDkwN30:1wnCzG:M1YCXi6fqmjf1ugT6ZmXoyfstcGKLjBwplBCg4IXdqw" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
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                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          🌎 New double-digit tariffs go into effect on 60 US trading partners.
                         </strong>
                         Just after midnight today, the US
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          enacted new tariffs
                         </a>
                         ranging from 10% to 12.5% on 99% of US imports, invoking Section 301 of the Trade Act of 1974. The government applied the levies on the basis that the affected countries have inadequately enforced bans on products made with forced labor from entering their economies. The new tariffs replace a stopgap 10% worldwide tariff that Trump issued using Section 122 of the same law after the Supreme Court struck down many of his “Liberation Day” tariffs in February. The 10% stopgap tariff expired just as these new tariffs, which are considered more legally durable, went into effect.—
                         <em>
                          HVL
                         </em>
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          💉FDA advisory panel narrowly recommends loosening restrictions on peptides.
                         </strong>
                         The FDA’s Pharmacy Compounding Advisory Committee voted yesterday
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          to allow four peptides
                         </a>
                         —BPC-157, KPV, TB-500, and MOTS-c—to be produced by compounding pharmacies, meaning that doctors would be able to prescribe them. Across multiple votes, the peptides were recommended by a tally of 8–6, with one abstention. At the all-day hearings, the biggest objection voiced by the FDA’s career scientists was that there is no standard chemical formula for the peptides, making evaluation of them nearly impossible. Three more peptides will be voted on today. The FDA does not need to act on the advisory panel’s recommendations, but generally does.—
                         <em>
                          HVL
                         </em>
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         📺
                         <strong style="color:#000;font-weight:bold">
                          Peacock turned a profit for the first time.
                         </strong>
                         A hot new earnings win has entered the villa. Peacock, NBCUniversal’s streaming service, reported an EBITDA of $189 million in Q2, far ahead of analysts’ expectations and the
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          first time
                         </a>
                         it’s made a quarterly profit since launching in 2020. The historic quarter was driven by the NBA playoffs, the World Cup, and everyone in your office talking about Corbin’s behavior at Casa Amor on
                         <em>
                          Love Island USA
                         </em>
                         . Peacock added 2 million subscribers in the quarter, bringing its total to 48 million—still well behind rivals like Netflix and HBO Max.
                         <em>
                          —AE
                         </em>
                        </p>
                       </td>
                      </tr>
                     </tbody>
                    </table>
                   </td>
                  </tr>
                 </tbody>
                </table>
               </td>
              </tr>
             </tbody>
            </table>
           </div>
           <div class="c6" style="margin-bottom:7px">
            <table cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse" width="100%">
             <tbody>
              <tr>
               <td>
                <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
                 <tbody>
                  <tr>
                   <td style="display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;box-shadow:none;margin-bottom:0px;font-size:16px">
                    <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
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                       <td>
                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         FAST PASS
                        </p>
                        <a style="color:#000;text-decoration:none" target="blank">
                         <p style="font-size:24px;font-weight:700;line-height:26px;margin:8px 0 0 0;padding:0 15px">
                          Truth Social is selling faster access to Trump’s posts
                         </p>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Closeup of Trump speaking into a microphone at a podium" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-07-23%252Fimage-b890488dd7c07717a01820e33ba01428df9004cb-7680x5120-jpg%252FGettyImages-2286590340.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODQ4ODgzMTguNzU1MjAzMn0:1wnCzG:wR7weFgi9Pf8XSHwmtkalWrR2_Dng3xeuTIu2ie2SL4" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </a>
                        <p style="margin:0;padding:0;line-height:22px">
                         <span style="margin-top:5px;margin-bottom:0;padding-left:10px;display:inline-block;line-height:16px">
                          <small style="color:#333">
                           <em>
                            AFP/Getty Images
                           </em>
                          </small>
                         </span>
                        </p>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Truth Social is selling posts at a premium, and Wall Street is buying. Trump Media &amp; Technology Group (TMTG), the parent company of Truth Social,
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          announced
                         </a>
                         last week that it was rolling out a paid “Truth API” feed with real-time posts from 10 of the biggest political accounts on the platform, including President Trump. The feed gives traders early access to the president’s market-moving posts, giving them a leg up on markets.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Five high-frequency trading firms—investors that depend on making lightning-fast moves—have already signed onto the service, which launches Aug. 1:
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          It costs
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           $100,000
                          </a>
                          a month, or $60,000 if a firm makes a three-year commitment, according to Reuters.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Investors already
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           rely
                          </a>
                          heavily on Trump’s posts for trades.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Last month, in the first minute after two of his posts about Iran, more than 2 million shares related to energy and industrial markets were traded.
                         </li>
                        </ul>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Not so fast:
                         </strong>
                         Lawmakers on both sides of the aisle are
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          questioning
                         </a>
                         the move, with one asking the SEC to
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          investigate
                         </a>
                         . Critics warn that giving Wall Street access to these highly influential posts even nanoseconds before the public provides wealthy firms with a huge edge and creates a clear risk for market integrity. President Trump controls about 41% of TMTG’s outstanding stock through a revocable trust.—
                         <em>
                          MM
                         </em>
                        </p>
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Sponsored By Intuit Inc.
                        </p>
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                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Life-ing.
                         </strong>
                         Some of the most awkward, awesome, + tense life moments often include money as a stressor. From first paycheck to first tax prep and organizing budgets, Intuit has your back. Intuit is a global financial platform helping 100m customers thrive with tools like TurboTax, QuickBooks, + more.
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          Get started
                         </a>
                         .
                        </p>
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                   <td style="display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;box-shadow:none;margin-bottom:0px;font-size:16px">
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                       <td>
                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         READY STREAMER ONE
                        </p>
                        <a style="color:#000;text-decoration:none" target="blank">
                         <p style="font-size:24px;font-weight:700;line-height:26px;margin:8px 0 0 0;padding:0 15px">
                          Prime Video just became a gaming platform
                         </p>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Screenshot of Amazon Luna platform in a television shape" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-07-23%252Fimage-8fb57e556d06789dfb054f13a88733fa30036125-1480x1000-jpg%252FMBD-AmazonGaming-0726.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODQ4ODgzMTguNzU1ODE1M30:1wnCzG:AuhRYnhnTNHZP2M7n__0sOIfrFSrbiGDa_dld_U2jHM" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </a>
                        <p style="margin:0;padding:0;line-height:22px">
                         <span style="margin-top:5px;margin-bottom:0;padding-left:10px;display:inline-block;line-height:16px">
                          <small style="color:#333">
                           <em>
                            Amazon
                           </em>
                          </small>
                         </span>
                        </p>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Amazon wants your idle hands. The company
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          fused
                         </a>
                         its cloud gaming platform, Luna, with its streaming TV service yesterday, enabling Prime subscribers in the US and UK to play
                         <em>
                          Hogwarts Legacy
                         </em>
                         ,
                         <em>
                          EA Sports FC 26
                         </em>
                         , and other video games for free, straight through the Prime Video app on Fire TVs.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          You might have already had access to these titles.
                         </strong>
                         Luna’s standard library comes free with Prime, but “nobody” knew this, Amazon Games GM Jeff Gattis recently
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          told
                         </a>
                         Polygon. By adding a Games tab to the Prime Video app…
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Amazon solves Luna’s discoverability issue.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Prime Video gets one step closer to becoming an everything-but-the-kitchen-sink entertainment app. Rivals Netflix and Peacock have also been
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           adding
                          </a>
                          games in pursuit of that goal.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Amazon opens a new marketing avenue. One of its games,
                          <em>
                           Courtroom Chaos
                          </em>
                          , stars Arnold Schwarzenegger, who is also in an upcoming Amazon MGM holiday movie.
                         </li>
                        </ul>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          “We’re not trying to compete with PlayStation or Xbox or Steam,”
                         </strong>
                         Gattis said. Instead, Amazon is eyeing the hundreds of millions of casual phone gamers who don’t own consoles. This comes after the company spent years
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          failing
                         </a>
                         to break into gaming by developing its own titles.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Meanwhile…
                         </strong>
                         more changes are on the way. Jeff Bezos is
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          urging
                         </a>
                         an AI overhaul of Prime Video, Reuters reported yesterday.
                         <em>
                          —ML
                         </em>
                        </p>
                        <div style="padding-top:12px">
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                 <tbody>
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                   <td style="display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;box-shadow:none;margin-bottom:0px;font-size:16px">
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                       <td>
                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         reader poll
                        </p>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <div style="margin-bottom:15px;line-height:22px">
                         <div style="margin-bottom:5px">
                          <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                           Did you know that you had access to Amazon’s Luna cloud gaming service through your Prime subscription?
                          </p>
                         </div>
                         <a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
                          Yes, and I’ve played games on Luna.
                          <br/>
                         </a>
                         <a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
                          Yes, but I’ve never used Luna.
                          <br/>
                         </a>
                         <a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
                          No, I had no idea.
                          <br/>
                         </a>
                        </div>
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                   <td style="display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;box-shadow:none;margin-bottom:0px;font-size:16px">
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                       <td>
                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Dave’s sports desk
                        </p>
                        <p style="padding-top:0;font-size:24px;font-weight:700;line-height:26px;color:#333;margin:8px 0 0 0;padding:0 15px">
                         The Mets are bad, even by Mets standards
                        </p>
                        <img alt="Stylized illustration of Mr. Met, the Mets mascot, holding out his fists, which are gripping wads of burning cash." class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-07-23%252Fimage-08f2da8d73dfadc10121a3fb3a58ec9aed398265-3000x2000-png%252FMBD_20260723_METSWASTE_NI_01.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODQ4ODgzMTguNzU2MzE3MX0:1wnCzG:y5awPIqPjpE80vlD0_ARCLAIc067kR3-M6kSMnArI9U" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        <p style="margin:0;padding:0;line-height:22px">
                         <span style="margin-top:5px;margin-bottom:0;padding-left:10px;display:inline-block;line-height:16px">
                          <small style="color:#333">
                           <em>
                            Nick Iluzada
                           </em>
                          </small>
                         </span>
                        </p>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <em>
                          On Fridays, the Brew’s Dave Lozo looks at a sports business story that says a lot more than just the final score of a game.
                         </em>
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         It’s easy to make jokes about the Mets being terrible, but the Wall Street Journal was able to quantify just
                         <em>
                          how
                         </em>
                         terrible.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Entering Wednesday’s games, the team with the MLB’s most expensive payroll of $355 million was on pace to win only 68 games. That’s an average of $5.2 million per victory, the
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          highest price
                         </a>
                         any team has paid per win since at least 2000, even when adjusted for inflation.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          This shouldn’t be surprising:
                         </strong>
                         The team that spent the second-most money per win ($4.8 million) during that time period was…also the Mets, in 2023.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Big swings, big misses:
                         </strong>
                         Hedge fund billionaire Steve Cohen bought the franchise in 2020 for $2.4 billion. He hasn’t been shy about spending on the roster, but those
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          signings
                         </a>
                         haven’t translated into success.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Next up:
                         </strong>
                         The Mets are likely to become more cost-effective when they become sellers at the Aug. 3 trade deadline.
                         <em>
                          —DL
                         </em>
                        </p>
                       </td>
                      </tr>
                     </tbody>
                    </table>
                   </td>
                  </tr>
                 </tbody>
                </table>
               </td>
              </tr>
             </tbody>
            </table>
           </div>
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                 <tbody>
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                    <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
                     <tbody>
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                       <td>
                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Quiz
                        </p>
                        <a style="color:#000;text-decoration:none" target="blank">
                         <p style="padding-top:0;font-size:24px;font-weight:700;line-height:26px;margin:8px 0 0 0;padding:0 15px">
                          Friday news quiz
                         </p>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Friday news quiz banner" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2025-09-11%252Fimage-7c7a69cfb99fa964a9a37bcb3ccd83ca02c2c054-2700x660-png%252FIMG_9053.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODQ4ODgzMTguNzU2NDI5N30:1wnCzG:E0TpGpNsikIGjd0bwx9iYqADhNNyqlxWBKv23D7ucKk" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </a>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         The feeling of getting a 5/5 on the Brew’s Weekly News Quiz has been compared to your most-used app getting a redesign that you actually like.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         It’s that satisfying.
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          Ace the quiz
                         </a>
                         .
                        </p>
                       </td>
                      </tr>
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                    </table>
                   </td>
                  </tr>
                 </tbody>
                </table>
               </td>
              </tr>
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                    <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         News
                        </p>
                        <p style="padding-top:0;font-size:24px;font-weight:700;line-height:26px;color:#333;margin:8px 0 0 0;padding:0 15px">
                         What else is brewing
                        </p>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           House Democrats
                          </a>
                          were joined by four Republicans in voting to end the Iran war in a largely symbolic vote.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           President Trump
                          </a>
                          said that the US’ new nuclear deal with Saudi Arabia hinges on the Arab kingdom normalizing diplomatic relations with Israel.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           Vance Boelter
                          </a>
                          , the man who pleaded guilty to killing Minnesota Democratic lawmaker Melissa Hortman and her husband, Mark, was sentenced to life in prison.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           Google
                          </a>
                          disclosed yesterday that it owns $94.1 billion in SpaceX shares, or about 6% of the now-public company.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           Instagram
                          </a>
                          banned videos shot on Meta glasses showing the harassment of strangers in public, in a huge blow to guys whose profile photos are selfies taken with sunglasses on in their cars.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           <em>
                            The Dink
                           </em>
                          </a>
                          , the first mainstream American movie about pickleball, is out today on Apple TV.
                         </li>
                        </ul>
                       </td>
                      </tr>
                     </tbody>
                    </table>
                   </td>
                  </tr>
                 </tbody>
                </table>
               </td>
              </tr>
             </tbody>
            </table>
           </div>
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            <table cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse" width="100%">
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               <td>
                <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
                 <tbody>
                  <tr>
                   <td style="display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;box-shadow:none;margin-bottom:0px;font-size:16px">
                    <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
                     <tbody>
                      <tr>
                       <td>
                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         recs
                        </p>
                        <img alt="To-Do List" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2025-11-24%252Fimage-ff42f96869558a4ad4ab4f10936a3830dbf1d044-1350x330-png%252FMB_newsletter_banner_new.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODQ4ODgzMTguNzU2NjAxNn0:1wnCzG:79-wNtTvu7svBwwyPe7C-zyNrRKCPavjHiAZcPBnDMU" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          The nine best
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           river cruises
                          </a>
                          for every type of traveler.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Tips on how to
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           bike to work
                          </a>
                          safely and stylishly.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          What to expect from
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           Comic-Con
                          </a>
                          this weekend.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          A simple, comfortable
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           cotton tee
                          </a>
                          for any setting.**
                         </li>
                        </ul>
                        <div>
                         <ul style="color:#333;margin-top:0;padding-left:30px">
                          <li style="color:#333;line-height:22px;margin-bottom:10px">
                           For founders, investors, and startup obsessives:
                           <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                            Founder Brew
                           </a>
                           covers the decisions and lessons that define builders.
                          </li>
                         </ul>
                        </div>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <sup style="font-size:smaller;vertical-align:super">
                          <em>
                           **This is a product recommendation from our writers. When you buy through this link, Morning Brew may earn a commission.
                          </em>
                         </sup>
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                        </p>
                       </td>
                      </tr>
                     </tbody>
                    </table>
                   </td>
                  </tr>
                 </tbody>
                </table>
               </td>
              </tr>
             </tbody>
            </table>
           </div>
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                 <tbody>
                  <tr>
                   <td style="display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;box-shadow:none;margin-bottom:0px;font-size:16px">
                    <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
                     <tbody>
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                       <td>
                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Play
                        </p>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Games available from Morning Brew" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2025-09-11%252Fimage-3524949da8d220051120175f97246671d52e0b38-2700x660-png%252FIMG_9052.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODQ4ODgzMTguNzU2NzM2OH0:1wnCzG:0NBieMNUL3O-9LjQEZLdYDbJy0YTrUmT0UihjQJHi_U" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </a>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Jigsaw:
                         </strong>
                         This week’s news picture puzzle takes you inside a new movie costume exhibit.
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          Play Jigsaw here
                         </a>
                         .
                        </p>
                        <h2 style="font-size:19px;color:#000;font-weight:700;margin-top:0;margin-bottom:15px;margin-right:0;margin-left:0">
                         Friday puzzle
                        </h2>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Break up the word “temporary” into nine separate letters and place them on the dashes to spell a seven-letter word, a five-letter word, and a three-letter word. You can use each letter only once.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         TEMPORARY
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         _ N _ M _ R _
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         _ O _ O _
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         _ I _
                        </p>
                       </td>
                      </tr>
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                </table>
               </td>
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                    <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Share the Brew
                        </p>
                        <div style="color:#333;padding:15px">
                         <a>
                          <img alt="Referrals Get Rewarded" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F186d427b237afa331a96448ae17d5a27b6d8ca2a-1350x330.png%253Fw%253D1340%2526q%253D100%2526auto%253Dformat/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODQ4ODgzMTguNzU2ODcxN30:1wnCzG:9nxeYxp8LT66H_-u2pchiJi9Ap9PAfc0I9JXqBXhTsQ" style="width:100%;max-width:670px;display:block;margin-bottom:15px;" width="670"/>
                         </a>
                         <p style="margin-bottom:15px;line-height:22px;">
                          Share the Brew, watch your referral count climb, and unlock brag-worthy swag.
                         </p>
                         <p style="margin-bottom:15px;line-height:22px;">
                          Your friends get smarter. You get rewarded. Win-win.
                         </p>
                         <p style="margin-bottom:15px;line-height:22px;">
                          <b>
                           Your referral count:
                          </b>
                          0
                         </p>
                         <a class="stb-btn" style="margin-top:inherit !important;margin-bottom:inherit !important;margin-right:inherit !important;margin-left:inherit !important;width:100%;max-width:150px;font-family:Helvetica, Arial, sans-serif;font-size:16px;color:#ffffff;font-weight:900;text-decoration:none;text-align:center;background-color:#1c7ff2;padding-top:15px;padding-bottom:15px;padding-right:15px;padding-left:15px;border-radius:4px;display:block;">
                          Click to Share
                         </a>
                         <p style="margin-top:15px;margin-bottom:15px;line-height:22px;">
                          Or copy &amp; paste your referral link to others:
                          <br/>
                          <a class="link" style="border-bottom-width:2px;border-bottom-style:solid;border-bottom-color:#1c7ff2;text-decoration:none;color:#252525;" target="_blank">
                           morningbrew.com/r/?kid=979c4554
                          </a>
                         </p>
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Answer
                        </p>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Anymore, motor, rip
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         (
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          Source
                         </a>
                         )
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <span style="text-decoration:underline">
                          Word of the Day
                         </span>
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Today’s Word of the Day is: coffers, meaning “the available funds or financial reserves of a government or business.” Thanks to Oliver from Ann Arbor, MI, for the suggestion. Submit another Word of the Day
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          here
                         </a>
                         .
                        </p>
                       </td>
                      </tr>
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                  </tr>
                 </tbody>
                </table>
               </td>
              </tr>
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            </table>
           </div>
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              <td style="text-align:center;padding:10px 0;font-size:21px">
               <a rel="noopener noreferrer" style="width:32px;height:32px;display:inline-block;line-height:32px;vertical-align:super" target="_blank">
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               </a>
               <span style="font-size:34px">
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