Good morning. This being the unofficial second-to-last Friday of summer, it's looking increasingly doubtful we'll be able to pull off Barbeyoppenielor. That's the term we made up for going 5/5 on the ultimate summer 2023 bucket list: Seeing Taylor Swift and Beyoncé in concert, watching Barbie and Oppenheimer, and catching an Inter Miami game ft. Lionel Messi. But if you just chilled by a lake that's cool, too. —Molly Liebergall, Cassandra Cassidy, Matty Merritt, Abby Rubenstein, Neal Freyman | | | |  | Nasdaq | 13,463.97 | | | | | S&P | 4,376.31 | | | | | Dow | 34,099.42 | | |  | 10-Year | 4.241% | | | | | Bitcoin | $26,108.77 | | | | | Nvidia | $471.63 | | | | *Stock data as of market close, cryptocurrency data as of 3:00am ET. Here's what these numbers mean. | - Markets: A rally spurred by Nvidia's blockbuster earnings fizzled as the day wore on, and the Dow sagged to its worst day since March. Nvidia itself surged 4.5% to break its intraday record but ultimately gave up most of those gains. It's still up nearly 230% for the year.
- Economy: Today, investors will be watching Jerome Powell's big speech in Jackson Hole like it's the Zapruder film for clues on the Fed's next moves in its fight against inflation.
| | | | Fulton County Sheriff's Office Former President Donald Trump (listed as 6'3", 215 lbs. on the booking record) had his picture taken at Atlanta's Fulton County Jail last night, where he turned himself in for allegedly conspiring with 18 others to reverse the 2020 election results in Georgia. After glaring into the camera for his close-up and making bail, he left. But not before leaving his visual imprint on history. Trump's mug shot immediately took the throne in the hall of famous arrest photos, spreading across the internet within seconds of being released. Trump himself shared it on X/Twitter in his first post on the platform since being banned for almost two years. Get ready for mug shot merch Unlike the criminal cases against the ex-president, the mug shot has the potential to unite people across the political spectrum under a shared goal: making money. This is Etsy vendors' Super Bowl: Online sellers prepped designs in advance to quickly cash in on peoples' desires to absolutely pwn their political enemies through T-shirts. For months before the real mug shot was taken, people with rudimentary Canva skills had been selling loads of fake mug shot merchandise to MAGA supporters and haters alike. Plus, Trump's presidential campaign will almost certainly use his mug shot as marketing collateral. In April, the Trump campaign marketed its own "NOT GUILTY" shirts and mugs featuring a fake mug shot, which helped to raise more than $10 million since his first visit to criminal court. Why is this Trump's first real mug shot? This is the fourth set of criminal charges against Trump in five months, making him the only past commander-in-chief to face any indictments. And rather than hurt his reelection odds, it's helped fuel his dominance in Republican primary polls. - Trump avoided a mug shot in New York, Miami, and Washington, DC, when he surrendered on charges of covering up hush-money payments, mishandling classified documents, and attempting to overturn the 2020 election, respectively.
- Mug shots identify detainees, which for Trump authorities deemed unnecessary since his face is so well-known. But the Fulton County sheriff said he intended to treat him like any other arrestee.
Say cheese: Cameras are largely permitted in Georgia courtrooms, unlike in federal and New York state courtrooms, so this could be the first of many images (and even broadcasts) shared from Trump's legal proceedings.—ML | | Excitement for this card is at an all-time high—but with a few clicks, you might be able to sign up and get in on the benefits. This top-rated cash-back card offers up to 5% cash back and 0% interest on purchases + balance transfers until almost 2025. On top of that, there's no annual fee. If you ask us, all these perks add up to a pretty sweet deal. Secure your spot and sign up for this card. | | Omar Marques/Getty Images  A private equity firm ate Subway. More precisely, the families that founded the sandwich chain agreed to sell it to PE firm Roark Capital after seeking a buyer. The terms of the deal weren't made public, but the Wall Street Journal previously reported that Roark offered ~$9.6 billion. Subway, which has been losing market share to other sandwich chains, will be in good foodie company at Roark as it also owns Dunkin', Jimmy John's, Baskin-Robbins, Auntie Anne's, Carvel, Cinnabon…and lots of other eateries.
 Maui sues Hawaiian Electric over devastating wildfires. Maui County filed a lawsuit claiming the utility caused the fires that killed at least 115 people and destroyed the historic town of Lahaina. The suit claims Hawaiian Electric negligently left power flowing amid high winds and dry conditions and failed to properly maintain the grid, leading to the fires. It's the latest of several lawsuits over the company's alleged role in the tragedy, and its liabilities could be nearly $4 billion if it is found to be responsible, according to investment research firm Capstone.
 Shein and Forever 21 join fast-fashion forces. Shein, the uber-popular online purveyor of $5 pants, has teamed up with mall staple Forever 21 to expand the reach of both brands. Shein will acquire about a third of Forever 21's operator, Sparc Group, which will, in turn, become a minority shareholder in Shein. Once the deal goes through, the companies hope to sell Forever 21 clothes via Shein and will test out selling Shein clothes at Forever 21 stores and accepting returns there. While shoppers love their bargain prices, critics of both companies say they achieve them through questionable labor practices.
| | Red Huber/Getty Images SpaceX will take a break from its Mars planning to deal with some more pressing Earth problems. The Department of Justice sued SpaceX Wednesday, accusing the rocket-maker of discriminating against asylum seekers and refugees during the hiring process. The lawsuit claims that from at least 2018 through 2022, SpaceX actively discouraged asylum seekers and refugees from applying for roles by falsely claiming that the company could only hire US citizens and permanent residents because it makes sensitive tech covered by US export laws. - The complaint highlighted a tweet from CEO Elon Musk that said "US law requires at least a green card to be hired at SpaceX, as rockets are considered advanced weapons technology," as well as video interviews where he made similar statements.
- The DOJ alleges that despite many well-qualified asylum seeker and refugee candidates applying for jobs, the company rejected them for lacking US citizenship or a green card and that SpaceX's hiring platform even had its own rejection codes for these specific candidates.
Big picture: Companies that work with NASA or the Pentagon typically adopt conservative hiring practices, because any violation of export rules could put their contracts with the government at risk, immigration attorney Jonathan Grode told CNN. But the DOJ claims SpaceX crossed the line.—MM | | | Hike the savings trail. When you answer the call of the wild, you gotta bring the right gear along. Luckily for you, Gerber is holding a huuuge sale on their outdoor goods (all backed by a lifetime guarantee), including their pocket knives, multitools, outdoor gear—you name it. Equip yourself. | | Francis Scialabba Potential plot for Ocean's 14: A gang of thieves boosts floss and hand towels instead of jewels and priceless artifacts. Yesterday, Dollar Tree joined a growing number of retailers blaming "shrink," or loss due to theft or damage, for its unexpected drop in quarterly profits. Dick's, Target, Home Depot, and Walmart all said shoplifting or organized crime hacked away at profits last quarter. In response, Dollar Tree said it would put more items behind locks to deter scofflaws. That may foil thieves, but it isn't popular with people who just want to buy their deodorant in peace—locked cases can cause sales to drop as much as 25%, according to anti-theft tech company Indyme. But…retailers' claims that organized crime is on the rise are based on estimates rather than hard numbers, per CNBC, and some critics say you can rely on companies to accurately report shrink as much as you can rely on the soap dispenser in a dive bar's basement bathroom. In January, the CFO of Walgreens backtracked by revealing the company had overstated the role of shrink the previous quarter, fueling more skepticism.—CC | | Illustration: Cameron Abbas, Photo: Getty Images Stat: Michael Jordan crying meme, but make it happy tears. According to an analysis by Bloomberg, MJ is the richest basketball player ever, with a net worth of ~$3.5 billion. Unsurprisingly, the shoe deal with Nike so big Matt Damon and Ben Affleck just made a movie about it played a major part in getting him there, as did Jordan's recent sale of his majority stake in the Charlotte Hornets and endorsements throughout his career. Quote: "He was a man of difficult fate, and he made serious mistakes in life." That's what Russian President Vladimir Putin said publicly yesterday about Yevgeny Prigozhin, the mercenary boss who turned his troops on Moscow and is presumed dead after a private plane crash near Moscow on Wednesday. Putin offered his "sincere condolences to the families of all the victims" of the crash—but that may provide cold comfort since he's also widely suspected of being behind it. US officials say preliminary intelligence suggests Prigozhin was assassinated, likely with a bomb or some other form of sabotage that caused an explosion on the plane. Read: Why the moon may become our cosmic junkyard. (Vox) | | | The feeling of getting a 5/5 on the Brew's Weekly News Quiz has been compared to a simple turkey sandwich. It's that satisfying. Ace the quiz. | | - CNN is trying streaming again. This time, the news will stream on parent company Warner Bros. Discovery's newly renamed platform, Max, rather than a standalone app like the short-lived CNN+.
- T-Mobile is laying off 5,000 people, or about 7% of its workforce, as the wireless carrier contends with fierce competition.
- China banned fish from Japan in response to treated wastewater from the Fukushima nuclear plant getting released into the ocean.
- Barbie is now the highest-grossing domestic film release of the year. He's still just Ken.
| |  Look: At these stunning summer night photo contest winners.
Reevaluate: Caesar's last words may have been spicier than what you learned in high school. Watch: This video explains how airplane legroom got so tight. Listen: Get hyped for all the albums coming out this fall. Level up: Our latest course, Building High-Performance Teams, will teach you how to have the most successful team in the office. It kicks off on August 28—reserve your seat now. Support from anywhere: The future of therapy is here. Get professional support online with BetterHelp. Brew readers: Sign up to save $60 in your first month.* *A message from our sponsor. | | Jigsaw: Today's Jigsaw is titled "Fun at the Great American Dog Show." How can you not give it a shot? Solve the puzzle here. Friday puzzle You can go from "A" to "seatbelt" by adding a letter and rearranging them into different words. Which words belong on the dashed lines? A AS SEA EAST TASTE _ _ _ _ _ _ _ _ _ _ _ _ _ SEATBELT | | LATTES or LATEST then BATTLES or TABLETS (source) Word of the Day Today's Word of the Day is: scofflaw, meaning "a person who flouts the law." Thanks to Terry Rhodes of Chapel Hill, NC, (go Heels!) for the suggestion. Submit another Word of the Day here. | | |
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