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October 06, 2022
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Good morning.
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The first edition of the Brew’s crypto newsletter, Incrypto, hits inboxes later today. If you want to be there when it all began, like seeing The Beatles in Hamburg or Bruce at The Stone Pony, you’ll want to sign up ASAP.
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—
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Neal Freyman, Matty Merritt
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</table>
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<!-- MARKETS -->
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<div class="c6" style="margin-bottom:7px">
<!-- <![endif]-->
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;" width="100%">
<tr>
<th class="card" style="text-align:left;font-weight:400;font-family:Helvetica, Arial, sans-serif;font-size:16px;color:#333;display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;border-collapse:collapse;box-shadow:none;margin-bottom:0px">
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<h3 style="font-family:Helvetica, Arial, sans-serif;font-size:16px;color:#1c7ff2;font-weight:700;margin-top:0;margin-bottom:0">
MARKETS
</h3>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;" width="100%">
<tr>
<td class="pad5m">
</td>
</tr>
<!-- Nasdaq -->
<tr>
<td class="pads10 pads6m lastline" style="border-bottom:1px solid #e6e6e6;padding-bottom:0;text-align: center; border-top: 1px solid #e6e6e6; mso-padding-alt: 0 20px 0 20px;">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;" width="100%">
<tr>
<td align="center" class="markets-arrow-cell" style="width:12%;text-align: center; line-height: 1em;" valign="middle">
<img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252F5z8%252F1k5%252F4%252Fm%252F6081a6aedba0d.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1ogNp6:dKqKZyd9dtQxB2L4VQ6XdCYilA4zIWQkAOqM-SYlOCo" style="width:22%" width="20"/>
</td>
<td class="markets-ticker-cell" style="width:34%" valign="middle">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px; white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">
Nasdaq
</p>
</td>
<td class="markets-value-cell" style="width:34%" valign="middle">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">
11,148.64
</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="width:70%;border-collapse:collapse; margin: 0 auto;">
<tr>
<td style="padding-left: 8px; padding-right: 8px; padding-top: 10px; padding-bottom: 10px; border-radius: 8px; background-color: #FFB3B3; background-color: rgba(255, 3, 3, 0.3);" valign="middle">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: center;">
-0.25%
</p>
</td>
</tr>
</table>
</td>
</tr>
</table>
</td>
</tr>
<!-- END Nasdaq -->
<!-- S&P -->
<tr>
<td class="pads10 pads6m lastline" style="border-bottom:1px solid #e6e6e6;padding-bottom:0;text-align: center; border-top: 1px solid #e6e6e6; mso-padding-alt: 0 20px 0 20px;">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;" width="100%">
<tr>
<td align="center" class="markets-arrow-cell" style="width:12%;text-align: center; line-height: 1em;" valign="middle">
<img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252F5z8%252F1k5%252F4%252Fm%252F6081a6aedba0d.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1ogNp6:dKqKZyd9dtQxB2L4VQ6XdCYilA4zIWQkAOqM-SYlOCo" style="width:22%" width="20"/>
</td>
<td class="markets-ticker-cell" style="width:34%" valign="middle">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px; white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">
S&P
</p>
</td>
<td class="markets-value-cell" style="width:34%" valign="middle">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">
3,783.28
</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="width:70%;border-collapse:collapse; margin: 0 auto;">
<tr>
<td style="padding-left: 8px; padding-right: 8px; padding-top: 10px; padding-bottom: 10px; border-radius: 8px; background-color: #FFB3B3; background-color: rgba(255, 3, 3, 0.3);" valign="middle">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: center;">
-0.20%
</p>
</td>
</tr>
</table>
</td>
</tr>
</table>
</td>
</tr>
<!-- END S&P -->
<!-- Dow -->
<tr>
<td class="pads10 pads6m lastline" style="border-bottom:1px solid #e6e6e6;padding-bottom:0;text-align: center; border-top: 1px solid #e6e6e6; mso-padding-alt: 0 20px 0 20px;">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;" width="100%">
<tr>
<td align="center" class="markets-arrow-cell" style="width:12%;text-align: center; line-height: 1em;" valign="middle">
<img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252F5z8%252F1k5%252F4%252Fm%252F6081a6aedba0d.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1ogNp6:dKqKZyd9dtQxB2L4VQ6XdCYilA4zIWQkAOqM-SYlOCo" style="width:22%" width="20"/>
</td>
<td class="markets-ticker-cell" style="width:34%" valign="middle">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px; white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">
Dow
</p>
</td>
<td class="markets-value-cell" style="width:34%" valign="middle">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">
30,273.87
</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="width:70%;border-collapse:collapse; margin: 0 auto;">
<tr>
<td style="padding-left: 8px; padding-right: 8px; padding-top: 10px; padding-bottom: 10px; border-radius: 8px; background-color: #FFB3B3; background-color: rgba(255, 3, 3, 0.3);" valign="middle">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: center;">
-0.14%
</p>
</td>
</tr>
</table>
</td>
</tr>
</table>
</td>
</tr>
<!-- END Dow -->
<!-- 10-Year -->
<tr>
<td class="pads10 pads6m lastline" style="border-bottom:1px solid #e6e6e6;padding-bottom:0;text-align: center; border-top: 1px solid #e6e6e6; mso-padding-alt: 0 20px 0 20px;">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;" width="100%">
<tr>
<td align="center" class="markets-arrow-cell" style="width:12%;text-align: center; line-height: 1em;" valign="middle">
<img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252F5z8%252F1k5%252F4%252Fm%252F6081a6aeef46b.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1ogNp6:dKqKZyd9dtQxB2L4VQ6XdCYilA4zIWQkAOqM-SYlOCo" style="width:22%" width="20"/>
</td>
<td class="markets-ticker-cell" style="width:34%" valign="middle">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px; white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">
10-Year
</p>
</td>
<td class="markets-value-cell" style="width:34%" valign="middle">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">
3.753%
</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="width:70%;border-collapse:collapse; margin: 0 auto;">
<tr>
<td style="padding-left: 8px; padding-right: 8px; padding-top: 10px; padding-bottom: 10px; border-radius: 8px; background-color: #BEF2BA; background-color: rgba(40, 211, 26, 0.3);" valign="middle">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: center;">
+11.6 bps
</p>
</td>
</tr>
</table>
</td>
</tr>
</table>
</td>
</tr>
<!-- END 10-Year -->
<!-- Bitcoin -->
<tr>
<td class="pads10 pads6m lastline" style="border-bottom:1px solid #e6e6e6;padding-bottom:0;text-align: center; border-top: 1px solid #e6e6e6; mso-padding-alt: 0 20px 0 20px;">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;" width="100%">
<tr>
<td align="center" class="markets-arrow-cell" style="width:12%;text-align: center; line-height: 1em;" valign="middle">
<img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252F5z8%252F1k5%252F4%252Fm%252F6081a6aedba0d.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1ogNp6:dKqKZyd9dtQxB2L4VQ6XdCYilA4zIWQkAOqM-SYlOCo" style="width:22%" width="20"/>
</td>
<td class="markets-ticker-cell" style="width:34%" valign="middle">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px; white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">
Bitcoin
</p>
</td>
<td class="markets-value-cell" style="width:34%" valign="middle">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">
$20,156.89
</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="width:70%;border-collapse:collapse; margin: 0 auto;">
<tr>
<td style="padding-left: 8px; padding-right: 8px; padding-top: 10px; padding-bottom: 10px; border-radius: 8px; background-color: #FFB3B3; background-color: rgba(255, 3, 3, 0.3);" valign="middle">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: center;">
-0.05%
</p>
</td>
</tr>
</table>
</td>
</tr>
</table>
</td>
</tr>
<!-- END Bitcoin -->
<!-- Oil -->
<tr>
<td class="pads10 pads6m lastline" style="border-bottom:1px solid #e6e6e6;padding-bottom:0;text-align: center; border-top: 1px solid #e6e6e6; mso-padding-alt: 0 20px 0 20px;">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;" width="100%">
<tr>
<td align="center" class="markets-arrow-cell" style="width:12%;text-align: center; line-height: 1em;" valign="middle">
<img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252F5z8%252F1k5%252F4%252Fm%252F6081a6aeef46b.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1ogNp6:dKqKZyd9dtQxB2L4VQ6XdCYilA4zIWQkAOqM-SYlOCo" style="width:22%" width="20"/>
</td>
<td class="markets-ticker-cell" style="width:34%" valign="middle">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px; white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">
Oil
</p>
</td>
<td class="markets-value-cell" style="width:34%" valign="middle">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">
$87.76
</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="width:70%;border-collapse:collapse; margin: 0 auto;">
<tr>
<td style="padding-left: 8px; padding-right: 8px; padding-top: 10px; padding-bottom: 10px; border-radius: 8px; background-color: #BEF2BA; background-color: rgba(40, 211, 26, 0.3);" valign="middle">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: center;">
+1.40%
</p>
</td>
</tr>
</table>
</td>
</tr>
</table>
</td>
</tr>
<!-- END Oil -->
<!-- START REGULAR TEXT -->
<tr>
<td style="padding: 3px 15px 10px 15px">
<p style="line-height:22px;margin-top:0;margin-bottom:15px;padding: 0; margin: 0; text-align: left; font-size: 13px;">
*Stock data as of market close, cryptocurrency data as of 3:00am ET.
<a class="link-sm" rel="noopener" style="border-bottom:1px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
Here's what these numbers mean.
</a>
</p>
</td>
</tr>
<!-- END REGULAR TEXT -->
<tr>
<td style="padding: 0px 15px 0px 5px; mso-padding-alt: 0px 15px 15px 5px;">
<ul style="margin-top:0;padding-left:30px">
<li style="line-height:22px;margin-bottom:10px">
<span>
<strong style="color:#000">
Markets:
</strong>
</span>
<span>
Wall Street’s two-day surge
</span>
<span>
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
came to an end
</a>
</span>
<span>
yesterday, as all three major indexes closed slightly lower. Stocks had been riding a wave of giddiness after the number of job openings in the US plunged in August, showing that the Fed’s efforts to cool the labor market were starting to pay off. Oil prices rose to a three-week high on a blockbuster day for energy news. More on that in 3…2…1…
</span>
</li>
</ul>
</td>
</tr>
<tr>
<td style="padding: 0px 15px 0px 5px; mso-padding-alt: 0px 15px 15px 5px;">
</td>
</tr>
</table>
</th>
</tr>
</table>
<!--[if !mso ]><! -- -->
</div>
</div>
<!-- <![endif]-->
<!-- END MARKETS -->
<!-- ARTICLE --->
<!--[if !mso ]><! -- -->
<div class="c6" style="margin-bottom:7px">
<!-- <![endif]-->
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse;" width="100%">
<tr>
<th class="card" style="text-align:left;font-weight:400;font-family:Helvetica, Arial, sans-serif;font-size:16px;color:#333;display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;border-collapse:collapse;box-shadow:none;margin-bottom:0px;">
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse;" width="100%">
<tr>
<td style="padding: 15px;">
<h3 style="font-family:Helvetica, Arial, sans-serif;font-size:16px;color:#1c7ff2;font-weight:700;margin-top:0;margin-bottom:0">
ENERGY
</h3>
<h1 style="font-family:Helvetica, Arial, sans-serif;font-size:24px;color:#333;font-weight:700;margin-bottom:0;line-height:26px;margin-top:8px">
<a style="color:#000000!important;text-decoration:none;border-bottom:none!important;" target="_blank">
<font color="#000000">
Oil cut boosts Russia, bruises the US
</font>
</a>
</h1>
</td>
</tr>
</table>
<a style="text-decoration:none;border:none;" target="_blank">
<img alt="An OPEC oil drum spilling into the shape of the US" class="story-header-image" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252Ffb6f41706a7b263f32c5c31a2e3edaa0fdef767b-1500x1000.jpg%253Fw%253D670%2526q%253D70%2526auto%253Dformat/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiJ9:1ogNp6:O-43WtV6NeN-5Ldbd7XDwZHbA3PpLsVPeeBYOSFxo6g" style="display: block; width: 100%; max-width: 670px;" width="670"/>
</a>
<span class="source" style="display:inline-block;padding-left:10px;margin-top:5px;margin-bottom:0px;line-height:14px">
<small>
<em>
Francis Scialabba
</em>
</small>
</span>
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<td style="padding:15px">
<div>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
Yesterday a group of countries got together and said, “You know what? Oil prices are too low right now, and we want them to go higher.”
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
And because they are a cartel and collectively produce more than half of the world’s oil, they hatched a plan to
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
do just that
</a>
—with far-reaching consequences for inflation and the Russia–Ukraine war.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
<strong style="color:#000">
What happened:
</strong>
The group of oil-producing countries, known as OPEC+, agreed to slash production by 2 million barrels per day, which is its biggest cut since the world shut down in April 2020. The idea is that less oil sloshing around the world will prop up prices, which many of these countries rely on for revenue.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
<strong style="color:#000">
And where do prices stand now?
</strong>
The international benchmark Brent crude is hovering around $93, but it’s had a dizzying year. Its price shot up above $120 a barrel during the early part of the war in Ukraine, but recently plunged to about $81 as fears of a global recession grew. OPEC+ is tapping into these economic anxieties to justify the production cut.
</p>
<h2 style="font-family:Helvetica, Arial, sans-serif;font-size:19px;font-weight:700;color:#000;margin-top:0;margin-bottom:15px;margin-right:0;margin-left:0">
The White House bashed it as “shortsighted”
</h2>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
Because a production cut
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
may result
</a>
in higher gas prices in the US, the Biden administration is both mad and
<em>
</em>
disappointed. American officials had been working the phones this week to get OPEC+ to back off this cut. But it didn’t appear to work—and it only worsens already rocky relations between the US and Saudi Arabia, the group’s most powerful member.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
A second reason why OPEC+ didn’t make any new international friends yesterday: This cut is a huge assist to Russia (also a member of OPEC+). The West has been trying to prevent Russia from making money from its oil exports, which it uses to fund its invasion of Ukraine. Higher oil prices would give Vladimir Putin a flusher piggy bank to spend on his military, and also presents a
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
fresh obstacle
</a>
for an EU plan to cap the price of Russian oil.—
<em>
NF
</em>
</p>
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<h3 style="font-family:Helvetica, Arial, sans-serif;font-size:16px;color:#1c7ff2;font-weight:700;margin-top:0;margin-bottom:0">
TOGETHER WITH THE ASCENT
</h3>
<h1 style="font-family:Helvetica, Arial, sans-serif;font-size:24px;color:#333;font-weight:700;margin-bottom:0;line-height:26px;margin-top:8px">
<a style="color:#000000!important;text-decoration:none;border-bottom:none!important;" target="_blank">
<font color="#000000">
Zero interest for the long haul
</font>
</a>
</h1>
</td>
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<a class="" style="text-decoration:none;border:none;" target="_blank">
<img alt="The Ascent" class="story-header-image" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia2.morningbrew.com%252Fuploads%252Fplacement%252Fimages%252F6203%252F1663878385-GettyImages-1157442393_mb.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYTIubW9ybiJ9:1ogNp6:-Ce8uVbj6q8e9moNTVaotb8z1yClVNvtJ-G4uW-VQiQ" style="display: block; width: 100%; max-width: 670px;" width="670"/>
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<p style="line-height:22px;margin-top:0;margin-bottom:15px">
That’s what you get with
<a class="link" rel="noopener" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
this credit card
</a>
, which offers one of the longest intro 0% interest periods
<em>
ever
</em>
: up to 21 months.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
Along with no interest for a
<em>
looooong
</em>
time, the perks on
<a class="link" rel="noopener" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
this card
</a>
include:
</p>
<ul style="margin-top:0;padding-left:30px">
<li aria-level="1" style="line-height:22px;margin-bottom:10px">
<span>
no annual fee
</span>
</li>
<li aria-level="1" style="line-height:22px;margin-bottom:10px">
<span>
special offers on shopping, dining, and experiences
</span>
</li>
<li aria-level="1" style="line-height:22px;margin-bottom:10px">
<span>
cell phone protection—the underrated perk you didn’t know you needed until now
</span>
</li>
</ul>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
We’re not the only ones who love this card. It won two awards from the experts at The Ascent this year:
<strong style="color:#000">
Best 0% Intro APR Credit Card
</strong>
and
<strong style="color:#000">
Best Balance Transfer Credit Card
</strong>
.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
<a class="link" rel="noopener" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
Apply for this card here
</a>
.
</p>
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<h3 style="font-family:Helvetica, Arial, sans-serif;font-size:16px;color:#1c7ff2;font-weight:700;margin-top:0;margin-bottom:0">
WORLD
</h3>
<h1 style="font-family:Helvetica, Arial, sans-serif;font-size:24px;color:#333;font-weight:700;margin-bottom:0;line-height:26px;margin-top:8px">
<a style="color:#000000!important;text-decoration:none;border-bottom:none!important;" target="_blank">
<font color="#000000">
Tour de headlines
</font>
</a>
</h1>
</td>
</tr>
</table>
<img alt="Alec Baldwin" class="story-header-image" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F95eef3c44da330f2d187db19c3bca511a61e6f6a-1500x1000.jpg%253Fw%253D670%2526q%253D70%2526auto%253Dformat/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiJ9:1ogNp6:O-43WtV6NeN-5Ldbd7XDwZHbA3PpLsVPeeBYOSFxo6g" style="display: block; width: 100%; max-width: 670px;" width="670"/>
<span class="source" style="display:inline-block;padding-left:10px;margin-top:5px;margin-bottom:0px;line-height:14px">
<small>
<em>
MEGA/Getty Images
</em>
</small>
</span>
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<td style="padding:15px">
<div>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
<img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Femojipedia-us.s3.dualstack.us-west-1.amazonaws.com%252Fthumbs%252F120%252Fapple%252F237%252Fmovie-camera_1f3a5.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZlbW9qaXBlZGlhLSJ9:1ogNp6:lynxTsQFPNISH7YucudGeidrqk1SfFWXS-E_N6k_YN4" style="max-width:18px" width="18"/>
<strong style="color:#000">
Alec Baldwin,
<em>
Rust
</em>
producers reach a settlement.
</strong>
The actor and the family of Halyna Hutchins, the cinematographer who was killed when Baldwin fired a prop gun on set last year,
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
have agreed to a settlement
</a>
. Hutchins’s husband, Matthew, said “All of us believe Halyna’s death was a terrible accident.” In unexpected news, the film will restart production in January with Matthew in an executive producer role.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
<img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Femojipedia-us.s3.dualstack.us-west-1.amazonaws.com%252Fthumbs%252F120%252Fapple%252F237%252Fcloud-with-rain_1f327.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZlbW9qaXBlZGlhLSJ9:1ogNp6:lynxTsQFPNISH7YucudGeidrqk1SfFWXS-E_N6k_YN4" style="max-width:18px" width="18"/>
<strong style="color:#000">
Biden traveled to Florida to survey Hurricane Ian damage.
</strong>
The president met with FL GOP Gov. Ron DeSantis, a potential 2024 rival, and the two said they were putting aside politics to help Floridians
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
recover
</a>
from Hurricane Ian. More than one week after Ian made landfall as the fifth-strongest hurricane to hit the US, many residents are still without power and struggling to get food and water. At least 75 people were killed in Florida as a result of the hurricane.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
<img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Femojipedia-us.s3.dualstack.us-west-1.amazonaws.com%252Fthumbs%252F120%252Fapple%252F237%252Frocket_1f680.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZlbW9qaXBlZGlhLSJ9:1ogNp6:lynxTsQFPNISH7YucudGeidrqk1SfFWXS-E_N6k_YN4" style="max-width:18px" width="18"/>
<strong style="color:#000">
History was made on yesterday’s SpaceX launch.
</strong>
NASA astronaut Nicole Mann became the first Native American woman to go to space, joining
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
three others
</a>
on a trip to the International Space Station aboard a SpaceX Crew Dragon vehicle. It was SpaceX’s sixth crewed mission to the ISS for NASA since 2020.
</p>
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TECH
</h3>
<h1 style="font-family:Helvetica, Arial, sans-serif;font-size:24px;color:#333;font-weight:700;margin-bottom:0;line-height:26px;margin-top:8px">
<a style="color:#000000!important;text-decoration:none;border-bottom:none!important;" target="_blank">
<font color="#000000">
Musk has great Xpectations for Twitter
</font>
</a>
</h1>
</td>
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<img alt="Chemical X image from the Powerpuff Girls" style="display: block; width: 100%; max-width: 670px;" width="670" height=377 src="https://images.morningbrew.com/gif/2022-10-05/image-72c1a8ec5dba85063997e86e1aa3bb57ad3b205c-1280x720-gif/Elon-Musk-X-01.gif">
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<span class="source" style="display:inline-block;padding-left:10px;margin-top:5px;margin-bottom:0px;line-height:14px">
<small>
<em>
The Powerpuff Girls/Warner Bros.
</em>
</small>
</span>
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<p style="line-height:22px;margin-top:0;margin-bottom:15px">
With Elon Musk and Twitter just
<em>
maybe
</em>
close to ending their legal battle, we can turn our attention to Musk’s plans for Twitter once he owns it—specifically, how he aims to hit his wildly ambitious goals of quintupling revenues to $26.4 billion and reaching 104 million *paying* users by 2028. (Twitter has just 217 million
<em>
free
</em>
users currently.)
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
Musk
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
hinted
</a>
at his vision on Tuesday, tweeting that his purchase of Twitter would accelerate the creation of an “everything app” called X.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
<strong style="color:#000">
An “everything app” isn’t a new concept.
</strong>
Better known as a “superapp,” these apps integrate pretty much everything you need into your life, including social media, payments, gaming, and the most necessary, food delivery. WeChat in China is commonly cited as the world’s foremost superapp, with an estimated 900+ million daily active users, but others, like Singapore-based Grab, have also reached superapp status.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
Musk has signaled his intentions of building a WeChat clone before, telling Twitter’s staff this summer that if they can recreate WeChat with Twitter, “we’ll be a great success.”
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
<strong style="color:#000">
Bottom line:
</strong>
Building a superapp in 2022 might be
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
downright impossible
</a>
, Bloomberg argues, given that Americans use mobile payments far less than Chinese people and that WeChat’s success is directly tied to the moment in time (2011) that it launched. But that probably won’t stop Musk from trying.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
<strong style="color:#000">
One last thing:
</strong>
The Twitter deal hasn’t closed just yet, and the judge presiding over the trial is still prepping for a potential Oct. 17 start date.—
<em>
NF
</em>
</p>
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ENTERTAINMENT
</h3>
<h1 style="font-family:Helvetica, Arial, sans-serif;font-size:24px;color:#333;font-weight:700;margin-bottom:0;line-height:26px;margin-top:8px">
<a style="color:#000000!important;text-decoration:none;border-bottom:none!important;" target="_blank">
<font color="#000000">
Approaching its 100th birthday, the Hollywood sign gets a bath
</font>
</a>
</h1>
</td>
</tr>
</table>
<img alt="L from Hollywood sign being painted." class="story-header-image" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F5fc83e4182e6bf323641cbe9d2a1a913d9bebf8b-1500x1000.jpg%253Fw%253D670%2526q%253D70%2526auto%253Dformat/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiJ9:1ogNp6:O-43WtV6NeN-5Ldbd7XDwZHbA3PpLsVPeeBYOSFxo6g" style="display: block; width: 100%; max-width: 670px;" width="670"/>
<span class="source" style="display:inline-block;padding-left:10px;margin-top:5px;margin-bottom:0px;line-height:14px">
<small>
<em>
David Livingston/Getty Images
</em>
</small>
</span>
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<tr>
<td style="padding:15px">
<div>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
Workers kicked off the Hollywood sign’s
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
makeover
</a>
this week ahead of its 100th birthday in 2023, using 250 gallons of paint and primer to cover up all the dirt and shattered Midwestern dreams.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
This American landmark has a pretty fascinating history.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
The original sign, which read “Hollywoodland,” was erected in 1923 by Los Angeles Times publisher Harry Chandler to promote his real estate development. By 1944 the sign became property of the city after the development went bust, but the only real upkeep the city did on the sign was to remove the “land” part.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
Some of LA’s more prominent residents weren’t happy about their beloved sign turning into an eyesore, so they pushed the city to build a new one. And In 1978, the biggest push came from Hugh Hefner, who hosted a fundraiser at the Playboy Mansion to raise the quarter of a million dollars needed to replace the old, decrepit sign with the more Insta-worthy one you see today.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
Here’s what the sign looked like in 1924, before the city was flooded with green juice.
<em>
—MM
</em>
</p>
<img alt='1924 photo of car approaching "Hollywoodland" sign"' class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F96c5be4bd834afe4fddeb416cc7b3a8043e30bf6-1500x1000.jpg%253Fw%253D670%2526q%253D70%2526auto%253Dformat/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiJ9:1ogNp6:O-43WtV6NeN-5Ldbd7XDwZHbA3PpLsVPeeBYOSFxo6g" style="display:block;width:100% !important"/>
<span class="source" style="display:inline-block;padding-left:10px;margin-top:5px;margin-bottom:0px;line-height:14px">
<small>
<em>
Underwood Archives/Getty Images
</em>
</small>
</span>
</div>
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TOGETHER WITH MONDAY.COM
</h3>
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<img alt="Monday.com" class="story-header-image" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia2.morningbrew.com%252Fuploads%252Fplacement%252Fimages%252F8188%252F1664977473-Partners_Elevate_General_1200x628__1_.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYTIubW9ybiJ9:1ogNp6:-Ce8uVbj6q8e9moNTVaotb8z1yClVNvtJ-G4uW-VQiQ" style="display: block; width: 100%; max-width: 670px;" width="670"/>
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<p style="line-height:22px;margin-top:0;margin-bottom:15px">
<strong style="color:#000">
Work smarter, go further.
</strong>
On Nov. 3,
<a class="link" rel="noopener" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
monday.com’s The Elevate Show ’22
</a>
will share exclusive, actionable + free insights to help you achieve more with your business’s time, tech, and resources. Rethink efficiency with product master classes and expert talks,
<em>
and
</em>
go green: Each registration plants one tree, so
<a class="link" rel="noopener" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
register now
</a>
.
</p>
<!-- SOCIAL LINKS -->
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<h3 style="font-family:Helvetica, Arial, sans-serif;font-size:16px;color:#1c7ff2;font-weight:700;margin-top:0;margin-bottom:0">
GRAB BAG
</h3>
<h1 style="font-family:Helvetica, Arial, sans-serif;font-size:24px;color:#333;font-weight:700;margin-bottom:0;line-height:26px;margin-top:8px">
<a style="color:#000000!important;text-decoration:none;border-bottom:none!important;" target="_blank">
<font color="#000000">
Key performance indicators
</font>
</a>
</h1>
</td>
</tr>
</table>
<img alt="A meme of Usain Bolt and other runners depicting them as fast food restaurants" class="story-header-image" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F470968cab570fe643ddbe39eb0a6b3fbaabd65e1-1500x1000.png%253Fw%253D670%2526q%253D70%2526auto%253Dformat/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiJ9:1ogNp6:O-43WtV6NeN-5Ldbd7XDwZHbA3PpLsVPeeBYOSFxo6g" style="display: block; width: 100%; max-width: 670px;" width="670"/>
<span class="source" style="display:inline-block;padding-left:10px;margin-top:5px;margin-bottom:0px;line-height:14px">
<small>
<em>
Dianna “Mick” McDougall; Photo: Cameron Spencer/Getty Images
</em>
</small>
</span>
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<tr>
<td style="padding:15px">
<div>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
<strong style="color:#000">
Stat:
</strong>
For the third year in a row, Chick-fil-A was the restaurant with the
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
fastest
</a>
drive-thru line when considering the number of cars in line, according to Intouch Insight's Annual Drive-Thru Study. The fast food restaurant clucked in an average wait time of 107.41 seconds (about 1 minute and 47 seconds) topping No. 2 McDonald’s and No. 3 Taco Bell. Across US restaurants, the average wait time spent in a drive-thru lane was 6 minutes and 13 seconds, and 9 minutes if some TikToker was harassing the worker for content.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
<strong style="color:#000">
Quote:
</strong>
“This person’s on a mission.”
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
Officials in Stockton, CA, have
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
linked seven shootings
</a>
, six of them fatal, to a potential serial killer. Police have no workable leads, but have released security camera footage of an unidentified person they believe is the attacker, who has been ambushing victims late at night in the Stockton area since April 2021.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
<strong style="color:#000">
Read:
</strong>
How Bella Hadid’s spray-on dress was made. (
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
The Cut
</a>
)
</p>
</div>
</td>
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<h3 style="font-family:Helvetica, Arial, sans-serif;font-size:16px;color:#1c7ff2;font-weight:700;margin-top:0;margin-bottom:0">
WHAT ELSE IS BREWING
</h3>
</td>
</tr>
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<tr>
<td style="padding-right:15px;padding-bottom:15px;padding-left:15px;padding-top:0px">
<ul style="margin-top:0;padding-left:30px">
<li style="line-height:22px;margin-bottom:10px">
<span>
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
North Korea
</a>
</span>
<span>
fired two ballistic missiles in response to the US redeploying an aircraft carrier in the area…in response to North Korea’s missile launch over Japan.
</span>
</li>
<li style="line-height:22px;margin-bottom:10px">
<span>
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
Ford
</a>
</span>
<span>
again jacked up the starting price for its electric F-150 Lightning.
</span>
</li>
<li style="line-height:22px;margin-bottom:10px">
<span>
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
US intelligence agencies
</a>
</span>
<span>
believe that the Ukrainian government authorized the fatal August car bombing of Daria Dugina, the daughter of a nationalist Russian philosopher.
</span>
</li>
<li style="line-height:22px;margin-bottom:10px">
<span>
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
A pumpkin
</a>
</span>
<span>
weighing in at 2,554 pounds set the record for the heaviest pumpkin ever recorded in the US.
</span>
</li>
</ul>
</td>
</tr>
</table>
</th>
</tr>
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<h3 style="font-family:Helvetica, Arial, sans-serif;font-size:16px;color:#1c7ff2;font-weight:700;margin-top:0;margin-bottom:0">
BREW'S BETS
</h3>
</td>
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<div>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
<strong style="color:#000">
Words against strangers:
</strong>
The
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
word game
</a>
that allows you to beat someone you’ve never met.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
<strong style="color:#000">
Looking for a remote-friendly job?
</strong>
This thread has
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
19 websites
</a>
to help you find one.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
<strong style="color:#000">
Morning beverage matchup:
</strong>
The
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
coffee vs. tea smackdown
</a>
.
</p>
</div>
</td>
</tr>
</table>
</th>
</tr>
</table>
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<td style="padding: 15px;">
<h3 style="font-family:Helvetica, Arial, sans-serif;font-size:16px;color:#1c7ff2;font-weight:700;margin-top:0;margin-bottom:0">
GAMES
</h3>
<h1 style="font-family:Helvetica, Arial, sans-serif;font-size:24px;color:#333;font-weight:700;margin-bottom:0;line-height:26px;margin-top:8px">
<a style="color:#000000!important;text-decoration:none;border-bottom:none!important;" target="_blank">
<font color="#000000">
The puzzle section
</font>
</a>
</h1>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse;" width="100%">
<tr>
<td style="padding-right:15px;padding-bottom:15px;padding-left:15px;padding-top:0px">
<div>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
<strong style="color:#000">
Brew Mini:
</strong>
Today’s puzzle observes the rule of threes.
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
Play it here
</a>
.
</p>
<h2 style="font-family:Helvetica, Arial, sans-serif;font-size:19px;font-weight:700;color:#000;margin-top:0;margin-bottom:15px;margin-right:0;margin-left:0">
Three headlines and a lie
</h2>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
First, a correction: In yesterday’s trivia, we incorrectly wrote that cable No. 5 was a Mini USB when it was actually a Micro USB. Sorry we’re not
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
IT Brew
</a>
.
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
Now, onto today’s quiz. Three of these headlines are real, and one is faker than people’s excitement when someone suggests a group
<em>
Power Rangers
</em>
Halloween costume. Can you spot the odd one out?
</p>
<ol>
<li style="line-height:22px;margin-bottom:10px">
<span>
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
Climate for kids
</a>
</span>
<span>
: Cartoon uses animals to address ins and outs of climate change
</span>
</li>
<li style="line-height:22px;margin-bottom:10px">
<span>
English soccer player
</span>
<span>
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
sidelined
</a>
</span>
<span>
after getting injured playing Xbox
</span>
</li>
<li style="line-height:22px;margin-bottom:10px">
<span>
Living plant
</span>
<span>
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
controls
</a>
</span>
<span>
a machete through an industrial robot arm
</span>
</li>
<li style="line-height:22px;margin-bottom:10px">
<span>
No one’s talking about Gucci’s cheeseburger fashion week
</span>
<span>
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
stunt
</a>
</span>
</li>
</ol>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">
<em>
If you love Three Headlines and a Lie,
<a class="link" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333" target="_blank">
play along
</a>
on
</em>
The Refresh
<em>
from Insider and dive deeper into these weird headlines.
</em>
</p>
</div>
</td>
</tr>
</table>
</th>
</tr>
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