Good morning. Today is the strange liminal space between a weekend and a holiday when everything shuts down, so we put together a breezy newsletter with (probably too many) July Fourth references and an interview with the chairman of Major League Eating. We'll be off tomorrow but back in your inbox on Wednesday. Happy Fourth of July!!! —Neal Freyman, Matty Merritt | | | |  | Nasdaq | 13,787.92 | | | | | S&P | 4,450.38 | | | | | Dow | 34,407.60 | | |  | 10-Year | 3.844% | | | | | Bitcoin | $30,622.63 | | | | | Nvidia | $423.02 | | | | *Stock data as of market close, cryptocurrency data as of 11:00pm ET. Here's what these numbers mean. | - Markets: Investors are coming out of the halftime locker room like a basketball team that's built a 20-point lead. Thanks to an AI-fueled rally that turned into an everything rally, the Nasdaq posted its best H1 since 1983, and the S&P 500 had its best first-half performance since 2019. Don't expect fireworks for the next few days (well, at least on Wall Street): The US stock market will close early today and shut down tomorrow for Independence Day.
| | | | Jeffrey Greenberg/Universal Images Group via Getty Images As smoky skies blanket the East Coast and the West enters another wildfire season, many US cities are beginning to acknowledge that pounding the air with pyrotechnics in the middle of the summer is maybe not the best idea. Expanding a trend that began in earnest last year, a number of cities—particularly in the West—are scrapping their July Fourth fireworks displays in favor of drone shows. - Salt Lake City will hold its first drone show for Independence Day to be "conscientious of both our air quality and the potential for wildfires," Mayor Erin Mendenhall said.
- Boulder, CO, is doing the same, citing "increased fire danger fueled by climate change."
- In California, Lake Tahoe and La Jolla are also opting for drone shows.
Community leaders hope their residents will embrace the change like baseball fans have the pitch clock. Not only are drones safer and better for the environment than fireworks, but they're also quiet, which is great news for dog owners. Plus, they can tell a story in a way fireworks cannot. As more events around the world, from the Super Bowl to New Year's celebrations, adopt drone shows, the market for them has grown from virtually nothing a decade ago to ~$1 billion in 2021, per Allied Market Research data cited by the NYT. But the pryos aren't going down without a fight In fact, fireworks have never been more popular. Americans increased their spending on fireworks by about $100 million this year compared to last summer, according to the American Pyrotechnics Association. If spending reaches $2.3 billion this season, as expected, that would represent a 3x increase from just 11 years ago. Compared to synchronized drones, fireworks are cheaper—a small drone show could cost $20,000, while a fireworks display can land under $7,000, per Flying Magazine. Plus, even the coolest drone shows don't stir the soul quite like the experience of watching explosives detonate hundreds of feet above you and illuminate the night sky. Bottom line: As drone choreography goes mainstream and fireworks sales soar even higher, both types of shows will probably coexist on the July Fourth itinerary.—NF | | Everyone's experienced membership regret. That feeling when you see money leave your account knowing it could have been better spent?  Horrible. What if there was a membership that could pay for itself aaand actually improve your life? A Facet membership does just that. You can gain access to unbiased, personalized, and actually affordable financial advice for everything your money touches, from starting a biz to buying real estate. The best part? The ROI on Facet memberships is so promising, it could even pay for itself. In fact, most members say that the financial value they receive from their memberships PAYS for the annual flat fee*. Sooo…what are you waiting for? | | Photo Illustration: Dianna "Mick" McDougall, Photo: Getty Images/Frederic J. Brown  Musk limits the amount of Twitter posts you can read. Deploying the unusual business move of restricting how much people can use your product, Twitter owner Elon Musk slapped daily limits on the number of posts users can see each day: 1,000 posts for unverified users and 10,000 for paying verified users. Musk said the (temporary) rate limits are necessary to curb "extreme levels" of data scraping by organizations training their AI systems on Twitter conversations. Meanwhile, preparations for the Musk vs. Zuckerberg cage match appear to be progressing.
 United tries to make amends for mass disruptions. As its operations mostly returned to normal this weekend, United Airlines said it's sending 30,000 frequent flyer miles to its customers most affected by last week's travel chaos, when nearly 20% of United's flights were canceled. And in a grievance that will sound familiar to people living in the NYC area, United CEO Scott Kirby blamed problems at Newark Liberty International Airport, a major United hub, for the widespread disruptions. Kirby said the airline will have to change or reduce its operations at Newark to minimize the risk of this happening again.
🪧 SoCal hotel workers go on strike. Thousands of unionized hotel workers in the Los Angeles area channeled the July Fourth rebel spirit and walked off the job yesterday to demand an immediate $5/hour raise to keep pace with skyrocketing housing prices. The strike could hurt LA's tourism economy on a busy holiday weekend that also includes the Anime Expo. Los Angeles has been a hotbed for labor organizing recently: Hollywood writers have been on strike for about two months, and dockworkers at the ports of Los Angeles and Long Beach picketed before agreeing to a new labor deal. | | Steven Ferdman/WireImage "The Nathan's Famous Fourth of July Hot Dog Eating Contest is the crucible through which greatness is forged," George Shea likes to say. It's not bluster: Shea is the co-founder and chairman of Major League Eating, the organization that holds about 70 eating competitions throughout the year, including the July Fourth hot dog eating contest in Coney Island. Shea's performance as emcee of that contest has turned him into an American legend. Every Fourth of July at Nathan's Famous, Shea goes viral for his intros that whip a crowd of 35,000 people (and millions more watching at home) into a frenzy to cheer on the most prolific competitive eaters of our time. Before the dogs hit the stage and the grandstands fill up with viewers hungry for drama, Morning Brew caught up with Shea to discuss what it's like to witness greatness up close. Here is a snippet from our interview. MB: What is it like to watch Joey Chestnut eat up close? GS: What I feel from Joey is this intense anxiety, focus, and fury. A whole-body tension. It's like a spring wound way too tight. And it unwinds through the contest. It's encased fury, but not anger so much as tension and energy. But the real takeaway for me is the dynamic between Joey and the crowd, the energy that comes back to the stage from the crowd is incredible. And so when I think of Joey eating, I'm sort of outside of that loop. But I'm right near that loop. And that loop is incredible. Read the whole thing here. This interview has been edited and condensed for clarity. | | TOGETHER WITH CISCO SECURE | | Stronger than ever  : Tumultuous times call for planning, security, and resiliency. Fortunately, you get all 3 with Cisco. Their Security Outcomes Report talks all things cybersecurity resilience and building the right strategy, and it offers insights from more than 4,700 industry pros. Get the report. | | Ryan Pierse/Getty Images Wimbledon begins today: Novak Djokovic is the clear favorite in the men's draw, but look out for Taylor Fritz (No. 9 in the world) and Frances Tiafoe (No. 10). It's the first time since 2012 that two American men are ranked in the Top 10 entering Wimbledon. July Fourth is tomorrow. If you haven't bought supplies for your cookout yet, you'll find that sirloin steak and processed cheese for your burger are more expensive than last July Fourth, but chicken and eggs are cheaper, according to Wells Fargo's Chief Agricultural Economist Michael Swanson. Plus, filling up your gas tank will cost you about $1.30 less per gallon than a year ago, per AAA. Jobs report incoming: The June jobs report highlights a relatively slow week for economic data. Once again, like in every month before it since January 2021, the report is expected to show that companies are still on the hiring grind, adding an estimated 225,000 new jobs last month. Everything else: - Taylor Swift's re-recorded album Speak Now (Taylor's Version) will be released on Friday. She'll be performing in Kansas City that night, if you're keeping tabs.
- The annual Running of the Bulls in Pamplona, Spain, starts on Friday.
- The Tour de France grinds on in the southwest part of the country. You can check out the superhuman athleticism on Peacock.
| | Buc-ee's Beaver on Twitter Stat: What better way to celebrate America's birthday than by visiting the world's largest gas station? Opened last week, the Buc-ee's location near Sevierville, TN, spans 74,000 square feet, has 120 fuel pumps, and employs 350 people to staff it 24/7, per The Drive. Ball's in your court, Wawa. Quote: "We want to calm things down." The grandmother of the 17-year-old who was fatally shot by a French police officer called on the rioters to stop their violent attacks following nearly a week of protests. The riots appear to be abating somewhat, but on Sunday, a Paris-area mayor's wife and child were injured when a burning car hit their home in the middle of the night. The killing of the teenager, known as Nahel, at a traffic stop unleashed long-simmering frustrations over police mistreatment of French immigrants, particularly those of North African descent. Read: Why the champions of affirmative action had to leave Asian Americans behind. (New Yorker) | | - Tesla delivered a record number of vehicles in the second quarter, topping estimates. Those price cuts definitely helped.
- Two people were killed and 28 injured in a shooting at a block party in Baltimore on Sunday.
- Goldman Sachs is looking to end its partnership with Apple and have American Express take over, the WSJ reports.
- A growing number of Australian students are "hot-bedding"—sharing a bed with a stranger—because rental costs are too high.
- Do the style choices on And Just Like That… mark the end of "quiet luxury"?
| |  How to act like a boss: Here's a practical guide to having "executive presence."
Eclectic cookout playlist: These songs were the most upvoted from various artist subreddits. Which supermarket bagel is best? A blind taste test. Spoil it: Watching movies the whole way through is overrated—this website will give you the ending. New to you: Did you know we have a newsletter written specifically for professionals in the IT industry? Subscribe to IT Brew. Wood if you could: Now you can. The Tenuto 2 is the first and only FDA-registered male vibrator clinically proven to combat ED. Experience extended performance and boost intimacy for both partners.* *This is sponsored advertising content. | | Turntable: Have a little more time on your hands today? Brew a pot of coffee and dive into Turntable, which asks you to find the 43 words hidden in the letter jumble. Play it here. American colonial trivia Kinda have to today. Can you name the two US states with a coastline on the Atlantic Ocean (not just the Gulf of Mexico) that weren't among the original 13 American colonies? | |  Go behind the scenes of Healthcare Brew's Q2 State of the Industry Report in a free virtual event on July 13. Secure your spot today.
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| | | Florida and Maine (which was a part of Massachusetts until 1820) | | | ✢ A Note From Facet Facet Wealth, Inc. ("Facet") is an SEC Registered Investment Advisor headquartered in Baltimore, Maryland. This is not an offer to sell securities or the solicitation of an offer to purchase securities. This is not investment, financial, legal, or tax advice. Based on a study conducted by Facet in April 2023. A statistically valid sample of members following Facet's current planning process demonstrated that more than half of these members, defined here as a majority, achieved value greater than their planning fee. This value was shown to reoccur on an annual basis. Assumptions included average expenses and fees, using retirement tax savings, portfolio expenses and tax loss harvesting as value drivers using Facet's investment services, and discounting value to align with the acceptance of Facet recommendations. Facet assesses clients an annual flat fee for service based on the complexity of planning needs. There is no separate or additional fee for investment management. This is not a guarantee or prediction of actual results for any member and results may vary by member. Some value like tax loss harvesting may vary year to year. | | | Written by Neal Freyman and Matty Merritt Was this email forwarded to you? Sign up here. Take The Brew to work Get smarter in just 5 minutes Business education without the BS Interested in podcasts? | ADVERTISE // CAREERS // SHOP 10% OFF // FAQ
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