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          The Fed left interest rates unchanged (for now)...
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                    July 30, 2026
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                     View Online
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                     Presented By
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                     <img alt="Sponsor Logo: Cytonics" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D364%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-06-04%252Fimage-cbc57fb3dd6b2c45d8f221093e9ed3e10dc525d7-8000x4500-png%252F1615559404-CytonicsNewLogo_F.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU0MDMxMzcuODczMDU3MX0:1wpMun:_wpetT8TZCDh4z-rfvy9TyvDyCaHxFUywbat131CmwE" style="display:inline;max-width:182px;vertical-align:middle;width:100%" width="182"/>
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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">
                      Get ready for a thrill.
                     </strong>
                     A Six Flags theme park in New Jersey unveiled plans to build a new roller coaster it says will break six world records. The park says that when the coaster, named Bakunawa after a serpent from Philippine legend, opens next year, it will be the world’s: 1) fastest spinning coaster (zooming 100 miles per hour) 2) fastest inversion 3) first upside down launch 4) longest stall inversion 5) tallest spinning coaster and 6) first floorless spinning coaster. We don’t know if there’s a world record for getting sickest on an amusement park ride, but we bet we could break that one, too, if we get the chance to visit.
                    </p>
                    <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                     —
                     <em>
                      Sam Klebanov, Abby Rubenstein, Dave Lozo, Holly Van Leuven
                     </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">
                      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">
                      The Fed’s rate decision
                     </li>
                     <li style="color:#333;line-height:22px;margin-bottom:10px">
                      Big Tech earnings
                     </li>
                     <li style="color:#333;line-height:22px;margin-bottom:10px">
                      The “worst aquarium ever”
                     </li>
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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>
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                       <td class="pad5m">
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                           <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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU0MDMxMzcuODczMTU5Mn0:1wpMun:sF279L0955UL6SLaByXsN02nBkmA014_EuoSIB27j1Y" 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">
                                 24,442.94
                                </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">
                                     -1.74%
                                    </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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU0MDMxMzcuODczMjU0NX0:1wpMun:hEfD0DHrAvSPXUVfaL2AE-7C6QyiRPhjwj8DzHOlqSI" 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">
                                 7,316.15
                                </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">
                                     -1.52%
                                    </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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU0MDMxMzcuODczMzQ4Mn0:1wpMun:YOT4W4kiStJ2_deElw3rXCp2-1z8FaoSOhCV3bh6EnU" 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">
                                 51,594.14
                                </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">
                                     -2.19%
                                    </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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU0MDMxMzcuODczNDQwN30:1wpMun:awSjSLf4fSdji4suaK5TPn-T_edz_p8xHmuCp7Fl2aA" 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">
                                 4.622%
                                </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">
                                     +2.0 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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU0MDMxMzcuODczNTMyOH0:1wpMun:jkyC7NHqDM6kxJ-V_sPMondjv509Y9xUY-ZGAWMTcqE" 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">
                                 $63,334.88
                                </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">
                                     -0.87%
                                    </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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU0MDMxMzcuODczNjI1NX0:1wpMun:t1Wuct3AcNVZj2xZvG2OUg06vyipLMPu7l1t9b8Tim8" 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">
                                 Hims &amp; Hers
                                </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
                                </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">
                                     -14.73%
                                    </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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU0MDMxMzcuODczNzIyM30:1wpMun:pf1udnBiqLFQ72F-OOvU8T4izP-QVy8kCGMt504FfGU" 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
                             <!-- -->
                             <!-- -->
                             5:30pm
                             <!-- -->
                             <!-- -->
                             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 did not have a happy hump day. As bond yields rose yesterday following the Fed’s decision to keep interest rates steady despite inflation (more on that below), stocks
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           plunged
                          </a>
                          , giving the Dow its worst day since April 2025.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <strong style="color:#000;font-weight:bold">
                           Stock spotlight:
                          </strong>
                          Hims &amp; Hers fell after the FTC
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           sued
                          </a>
                          the company, claiming it shared users’ health information with advertising platforms, including Meta and Snap. The company denied the allegations.
                         </li>
                        </ul>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:0 20px;mso-padding-alt:0 20px 15px 20px">
                        <div>
                         <div style="background-color:#e8e8e8;border:none;border-radius:0;margin-top:0;margin-bottom:15px;padding:15px;line-height:22px">
                          <p style="margin-top:0;margin-bottom:0;line-height:22px">
                           <strong style="color:#1c7ff2;font-size:16px;text-transform:none">
                            Markets Sponsored by Cytonics
                           </strong>
                          </p>
                          <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                           Time to invest closes soon: Backed by 7,500+ people, Stanford, and Scripps Research, Cytonics is developing what could be the first and only cure for osteoarthritis.
                           <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                            Invest before the round closes
                           </a>
                           .
                          </p>
                         </div>
                        </div>
                       </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">
                     <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">
                         STEADY, AS SHE GOES
                        </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">
                          Fed keeps rates steady…and everyone in the dark
                         </p>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Kevin Warsh speaking at the podium during a press conference" 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%252F2026-07-29%252Fimage-e1bcdb9fd23e3f653d2306e6fc3f8e11245ea422-6516x4346-jpg%252FGettyImages-2288186791.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU0MDMxMzcuODczODMyfQ:1wpMun:uQUXq8eO9Cb4IqR_YQuDuBYfITRjF98koSMWv7UHbWc" 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>
                            Win McNamee/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">
                         The Fed keeps acting like a teacher who refuses to answer any questions about what’s going to be on the test. While announcing yesterday that interest rates are
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          staying unchanged
                         </a>
                         , Fed Chair Kevin Warsh continued with his tight-lipped approach to communicating future rate expectations.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          But…
                         </strong>
                         if one were to guess from the few clues out there, it looks like rate hikes could be on the horizon:
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Yesterday’s decision to keep rates stable wasn’t unanimous. Three regional Fed presidents—out of 12 total members on the committee that sets borrowing costs—voted to hike rates.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Investors largely expect the Fed to hike rates at its next meeting in September, with some analysts saying surging oil prices reaccelerating inflation will necessitate the move.
                         </li>
                        </ul>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         For now, though, the Fed held its benchmark rate steady in a range of 3.5% to 3.75%.
                        </p>
                        <h2 style="font-size:19px;color:#000;font-weight:700;margin-top:0;margin-bottom:15px;margin-right:0;margin-left:0">
                         Vague king
                        </h2>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Still, anyone looking to predict the future isn’t getting big hints from Warsh. The central bank released a concise statement that was almost identical to the one it issued after Warsh’s first rate meeting as Fed chair last month, containing little about its plans other than to “deliver price stability.” The statement noted that the economy is growing “at a solid pace,” despite uncertainty from the Iran war. It also acknowledged that inflation remains above the Fed’s 2% target rate, which it attributes to supply disruptions.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Unlike Warsh’s predecessors, who would often give markets a subtle heads-up regarding impending rate changes, he prefers big-picture statements about monetary policy and having investors guide Fed decisions. He thinks central bankers keeping mum forces government bond traders to interpret the economic situation themselves, which the Fed can use to inform rate moves.
                        </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 picture:
                         </strong>
                         The lack of hand-holding from the Fed has led to increased volatility in bond markets and a breakdown in investor consensus about future rates. With less certainty than usual, investors priced in a 30% chance of a rate hike ahead of yesterday’s meeting, according to the FedWatch tool.
                         <em>
                          —SK
                         </em>
                        </p>
                        <div style="padding-top:12px">
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           </div>
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            <table cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse" width="100%">
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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">
                         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">
                           Do you think the Fed will raise rates next time?
                          </p>
                         </div>
                         <a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
                          Yes, they have to tackle inflation.
                          <br/>
                         </a>
                         <a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
                          No, Warsh doesn’t want to raise rates.
                          <br/>
                         </a>
                         <a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
                          Maybe, let’s see what the data looks like in September.
                          <br/>
                         </a>
                         <a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
                          I don’t know and neither does anyone else.
                          <br/>
                         </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">
                         Sponsored By Cytonics
                        </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">
                           A next-gen drug targeting a $560b disease
                          </strong>
                         </p>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Sponsor: Cytonics" 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%252F2026-07-29%252Fimage-52fa442d1a5898ea061ca1a133c02b44adc4683c-1000x750-png%252F16_Cytonics_Partnerships_1536x1024_061826.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU0MDMxMzcuODc0NDEyNX0:1wpMun:ZqVOVsL1O-I5U3NQjiwZpj8mJxIBc_hHwHrzCv1Tnq8" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </a>
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                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Osteoarthritis (OA) is one of the world’s most common diseases, with over $560 billion spent managing its symptoms each year. But
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          that may soon change for its 500+ million patients
                         </a>
                         .*
                        </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">
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          Cytonics may have discovered what could be OA’s first cure.
                         </a>
                         Now they're pushing toward FDA approval on a 200%-more-potent version of their new drug, engineered for global scale after successfully completing Phase 1 clinical trials.**
                        </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">
                         Potential medical breakthroughs like this are rare. Opportunities to invest before the next major milestone are even rarer. While nothing’s guaranteed, an uncured $560 billion disease is exactly where Big Pharma’s known to look for acquisitions.
                        </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">
                         The investment window closes soon.
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          Become an early-stage shareholder in Cytonics before the window closes
                         </a>
                         .
                        </p>
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              </tr>
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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="Meta sign against blue sky with clouds" 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%252F2026-07-01%252Fimage-02f879362d876a08078f1e4aaecfdf317c0ad991-5500x3666-jpg%252FMBD-MetaCloudComputing-0626.jpeg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU0MDMxMzcuODc0NTQ3N30:1wpMun:-TIzIX-s31MVytnoQE5pnUls-MpgtdkndW8H0ceinCc" 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>
                            Adobe Stock
                           </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">
                         📉
                         <strong style="color:#000;font-weight:bold">
                          Meta is spending almost all of its free cash flow on AI-related spending.
                         </strong>
                         Meta reported earnings after the market closed yesterday and revealed that its free cash flow was
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          down 91%
                         </a>
                         in Q2 2026 compared to a year prior. The company is still making money, it’s just also spending a lot of it. Meta’s capital expenditures for its AI systems, like servers and data centers, increased 83%, to $31.08 billion. Some of Meta’s investment is already delivering returns, though, as it reported AI improvements led ad revenue to grow by 27%. Meta’s stock fell by nearly 10% in after-hours trading following the report.—
                         <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">
                          📈 Microsoft held capex plans steady and announced an Azure milestone.
                         </strong>
                         The company that gave the world Clippy
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          beat Wall Street’s expectations
                         </a>
                         for its fourth-quarter earnings. For the first time, Microsoft’s Azure cloud computing platform topped $100 billion in revenue in the fiscal 2026 year, up 41%. The service is larger than Google Cloud but still smaller than Amazon Web Services. The company also left its capital expenditures plan unchanged, news that investors welcomed in the face of burgeoning AI spending elsewhere. Microsoft stock rose by nearly 9% in after-hours trading.—
                         <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">
                          🤐 Fauci takes the Fifth.
                         </strong>
                         Dr. Anthony Fauci, the infectious disease expert who led the US response to the Covid-19 pandemic, repeatedly
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          refused
                         </a>
                         to answer questions during a tense Senate hearing yesterday, invoking his Fifth Amendment rights more than 100 times (which, as you may recall from any cop show, is the right to avoid self-incrimination). Sen. Rand Paul, who led the hearing and aggressively questioned Fauci about the origins of the pandemic, said there would “be repercussions” for his refusal to answer questions. Fauci, for his part, criticized Paul’s “obsession with calling for my prosecution,” and said the senator had only sought his testimony in hopes of getting him to say something that would land him in hot water.
                         <em>
                          —AR
                         </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">
                          <br/>
                         </strong>
                        </p>
                       </td>
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                  </tr>
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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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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Special delivery
                        </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">
                          DoorDash is making its own drones
                         </p>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Illustration of a drone flying with a bag of food with a hamburger on it" 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%252F2026-07-29%252Fimage-615c25b2e647658f154fd41a48d6b38522fc33cc-3000x2000-png%252FMBD_20260729_DOORDASHDRONE_NI_02.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU0MDMxMzcuODc0Njc5fQ:1wpMun:eHwHduc71jvAb6eQqjLZ6SF6eXV_BQvbn6lgJBgI8VE" 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>
                            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">
                         Look, up in the sky! It’s not a bird or a plane…it’s a drone carrying your burrito. The company that lets you order takeout with just a few clicks because calling a restaurant is too much effort is now refining even more sophisticated tech for its new
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          drone delivery
                         </a>
                         business, DoorDash Air.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         The US’ largest delivery company
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          said
                         </a>
                         yesterday that it received a certification from the Federal Aviation Administration to operate a commercial drone delivery service. However, DoorDash doesn’t expect to launch these deliveries until the fall.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          If you want futuristic food delivery before then,
                         </strong>
                         you’ll need to be in one of the locales where DoorDash currently partners with Alphabet’s Wing or Flytrex—partnerships the company said it will keep even as it becomes a competitor.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         DoorDash plans to pull off an act of coordination even more complicated than getting your whole family to agree on which restaurant to order from. It aims to use its software edge and build “the full stack” to facilitate drone deliveries, including ground infrastructure and handoff systems.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Why drones?
                         </strong>
                         Like DoorDash’s delivery robot Dot, the drones are intended to cut costs per delivery, as well as speed them up, especially three- to five-mile trips, which the company said typically take 25% longer than shorter trips, in part because finding human delivery people takes time
                         <em>
                          .—AR
                         </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 State Street Investment Management
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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">
                          Invest like you’re going places.
                         </strong>
                         Because you are
                         <strong style="color:#000;font-weight:bold">
                          .
                         </strong>
                         With ETFs like MDY, you can tap into a powerful combination of resilience, quality, market opportunity, and
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          outperformance potential
                         </a>
                         . Discover how MDY—the original mid-cap ETF—delivers cost-efficient, liquid exposure to 400 US-based mid-sized companies in a
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          single trade
                         </a>
                         .
                        </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">
                         Invest in where you’re going with the growth potential of
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          mid-caps
                         </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">
                         TERMINAL DIAGNOSIS
                        </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">
                          Trump unveils $22.5b plan to remake Dulles Airport
                         </p>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Trump sitting at desk in the Oval Office surrounded by White House staff with model of new Dulles airport" 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%252F2026-07-29%252Fimage-5b36d8256d4b31d61a94b2e0f638adc7038b42fa-5509x3673-jpg%252FGettyImages-2287527667.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU0MDMxMzcuODc1Mzc1fQ:1wpMun:uMezfJpbtkp3wuLWT8C4WTEJnC-0djViEGIQkTH_J7c" 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>
                            Ken Cedeno/Getty Images
                           </em>
                          </small>
                         </span>
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                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Dulles Airport, perhaps most famous for having people movers that have been dubbed “mobile torture chambers,” will receive a $22.5 billion
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          makeover
                         </a>
                         , President Trump announced yesterday. The plans would maintain the classic exterior design, but gut the antiquated interior, bringing the airport’s infrastructure into the 21st century.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         President Trump, who was personally involved in the new designs, unveiled the plans in the Oval Office alongside United CEO Scott Kirby—whose airline handles roughly 70% of traffic at Dulles:
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Congress hasn’t appropriated the funds for the extreme makeover, and Trump said the airlines would cover some of the costs. Transportation Secretary Sean Duffy said bonds will be issued and United is “going to partake in part of the payment.”
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Travel platform View From The Wing expressed
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           concerns
                          </a>
                          , saying the high price tag would make it unlikely for United to be able to offer low-cost fares.
                         </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">
                          What improvements are coming to the airport featured in
                          <em>
                           Die Hard 2
                          </em>
                          ?
                         </strong>
                         Its existing concourses will be streamlined and expanded (and, in some cases, bulldozed and replaced). And its current underground rail system will be extended to bring passengers all the way to their terminals, removing the need for the dreaded “people movers” that have bridged that gap since the airport opened in 1962.
                        </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>
                         Trump said the ambitious project could hopefully be completed in two years—though the airlines originally expected it to take 60 years.
                         <em>
                          —DL
                         </em>
                        </p>
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                <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>
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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">
                         Molly explains the internet
                        </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">
                         A whale of a t-shirt
                        </p>
                        <img a="" alt="New Bedford Whaling Museum sweatshirt that says " aquarium="" class="img-responsive" ever.="" rating="" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-07-29%252Fimage-bedb7a1d5cb87024cdbcdcacfd1938b98e0de041-1500x999-jpg%252FMBD-NewBedfordWhalingMuseum-0726.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU0MDMxMzcuODc1ODAzN30:1wpMun:YC81oVWPmIA-dvlDGl9Qg-qtl2qoJdUs_ibmuZLh7Ns" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670" with="" worst=""/>
                        <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>
                            New Bedford Whaling Museum
                           </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>
                          The online world can be a beautiful yet confusing series of tubes. On Thursdays, the Brew’s Molly Liebergall untangles them for you. But…Molly is on vacation IRL, so Abby will disentangle the web this week.
                         </em>
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         When life hands you lemons, make lemonade—and when life hands you bad reviews, make t-shirts. That lesser-known adage has served the New Bedford Whaling Museum well. The Massachusetts historical center has had trouble keeping the merch it made featuring a
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          negative review
                         </a>
                         of the venue on its shelves ever since the internet got wind of it. The one-star Google review, left by a disappointed visitor in 2020, called the museum the “worst aquarium ever.”
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          To be clear,
                         </strong>
                         at the time,
                         <strong style="color:#000;font-weight:bold">
                         </strong>
                         the museum dedicated to the region’s once-prominent whaling industry had no aquarium—but it did have lots of giant whale skeletons. It has since installed a small tank, though no whales swim in it.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         That hasn’t stopped online shoppers from scooping up the now viral t-shirts and hoodies bearing the review on the back and a whale skeleton on the front:
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          The internet’s quest to make the tops the hottest look since whalebone corsets began in November with a TikTok video showcasing them that got 96,000 views.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Last week, an Instagram
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           post
                          </a>
                          announcing a restock was picked up by news outlets, which led to a 250% increase in sales compared to the week prior, the museum told the Associated Press.
                          <em>
                           —AR
                          </em>
                         </li>
                        </ul>
                       </td>
                      </tr>
                     </tbody>
                    </table>
                   </td>
                  </tr>
                 </tbody>
                </table>
               </td>
              </tr>
             </tbody>
            </table>
           </div>
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                 <tbody>
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                   <td style="display:block;background-color:#ffffff;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">
                         Sponsored By Parloa
                        </p>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Sponsor: Parloa " 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%252F2026-07-28%252Fimage-cb7147f1f0a04a68d23e2558fe227a358f91427d-1000x750-jpg%252FMorning_Brew_1.2_1000x750.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU0MDMxMzcuODc1OTE1M30:1wpMun:GKgOQtFnVQerW0KLhWqqJvq52hr0TVKYI3btgdZWkns" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </a>
                       </td>
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                       <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">
                          The automation frustrations.
                         </strong>
                         Parloa’s
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          <em>
                           Consumer Patience Index 2026
                          </em>
                         </a>
                         surveyed 1,001 US consumers on what breaks their trust with automated customer service and what would win it back. Considering 44% of consumers cancelled a subscription after a single bad service experience, it’s worth
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          seeing the insights that matter
                         </a>
                         .
                        </p>
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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">
                    <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">
                           US Central Command
                          </a>
                          announced that it had launched a “heavy wave” of strikes on Iran during the early hours of Thursday local time, in retaliation for the attacks Iran initiated on Wednesday against US forces and allies in the region.
                         </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">
                           Telegram founder and CEO Pavel Durov
                          </a>
                          was charged with aiding terrorism by Russia.
                         </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">
                           Ferrari
                          </a>
                          has reportedly already hit its 2026 sales target for the Luce—its first-ever all-electric vehicle, which was designed by former Apple designer Jony Ive and debuted to much internet
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           mockery
                          </a>
                          .
                         </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">
                           Jared Leto
                          </a>
                          was accused of sexual misconduct by 10 women in a new BBC documentary. The actor has denied the allegations.
                         </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">
                           eBay
                          </a>
                          and three former executives agreed to pay $56 million to settle a lawsuit lodged by a Massachusetts couple who claimed the company’s employees harassed them, including by sending them cockroaches and a bloody pig mask.
                         </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">
                           BTS
                          </a>
                          won’t submit its new album for the Grammys, with its members saying they hope “music can be heard and loved for what it is, rather than being divided by region or language.” That appears to be a reference to a new Asian Pop Music category, which specifies the use of Asian languages.
                         </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">
                           Glen Hansard
                          </a>
                          , the Irish singer-songwriter who won an Oscar for the song “Falling Slowly” in the movie
                          <em>
                           Once
                          </em>
                          , died in a motorcycle crash on Wednesday. He was 56.
                         </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%">
             <tbody>
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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>
                      <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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU0MDMxMzcuODc2MDI5fQ:1wpMun:RPSyVMPzLPe9nvMJwqGSk1xddinFnvjcXRaNk1KI958" 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">
                          What
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           psychologists recommend
                          </a>
                          for getting out of a negative spiral.
                         </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">
                           This game
                          </a>
                          lets you flex your lawn-mowing skills digitally.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Forget what’s trending for babies; see which names show up in
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           the most song titles
                          </a>
                          .
                         </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">
                           This weird ball
                          </a>
                          wears out your dog faster than other toys.**
                         </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>
                       </td>
                      </tr>
                     </tbody>
                    </table>
                   </td>
                  </tr>
                 </tbody>
                </table>
               </td>
              </tr>
             </tbody>
            </table>
           </div>
           <div class="c6" style="margin-bottom:7px">
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             <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">
                     <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">
                         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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU0MDMxMzcuODc2MTM4fQ:1wpMun:r9S9MnXk6ue77UqpXtTLeabKrXpN3MLWboq67SoYRB8" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </a>
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                      <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">
                          Brew Mini:
                         </strong>
                         Today’s puzzle is both a little larger and a little tougher than your average Mini.
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          Play it 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">
                         Three Headlines and a Lie
                        </h2>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Three of these headlines are real and one is faker than a light lunch. Can you spot the odd one out?
                        </p>
                        <ol>
                         <li>
                          Screamers welcome: Chicago
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           scream club
                          </a>
                          lets people ‘give in and let go’
                         </li>
                         <li>
                          Runners are
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           splurging
                          </a>
                          on $350 shorts and $140 moth-hole tees to look good
                         </li>
                         <li>
                          Couple includes $5k restaurant-style
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           soda machine
                          </a>
                          during ‘dream’ home build, but didn’t expect it to stir up ‘controversy’
                         </li>
                         <li>
                          Backpack or purse? Neither—you should be
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           carrying
                          </a>
                          your things loose
                         </li>
                        </ol>
                       </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>
                      <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">
                         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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU0MDMxMzcuODc2MjM4OH0:1wpMun:Pwg5OEqLdvS4NARUJrIJzn8usmOOHM7i0eSHCUlvGyE" 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>
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