☕️ USPS SOS

And the 2020 NBA MVP is... August 17, 2020 [View Online]( | [Sign Up]( [Daily Brew]( TOGETHER WITH [eToro]( Good morning. Every now and again, it's good to remind ourselves what a bizarre world we are living in. For example, film and TV data company Comscore reported weekend box office numbers for the first time in five months. If you're wondering, The Spongebob Movie: Sponge On The Run grossed $900,000 across 300 Canadian locations. MARKETS YTD PERFORMANCE NASDAQ 13,019.09 + 45.10% S&P 3,372.85 + 4.40% DJIA 27,931.02 - 2.13% GOLD 1,953.70 + 28.53% 10-YR 0.707% - 121.30 bps OIL 42.23 - 31.01% *As of market close - Debt: Blue-chip companies are expected to sell around $30 billion in bonds this week due to the super-low interest rate environment, [Bloomberg writes](. That would push volume for 2020 past the $1.3 trillion record set in 2017. - Markets: Will this be the week the S&P finally closes at an all-time high? Potentially, but the August to October period [isn't typically great]( for equities, per BofA Global Research. HEALTHCARE [And the 2020 NBA MVP Is...]( [Pic from the NBA bubble] Kevin C. Cox/Getty Images ...Yale? This weekend, the FDA [granted emergency use authorization]( to a saliva-based COVID-19 test, called SalivaDirect, developed by the Yale School of Public Health. Why this one's a BFD: - Spitting in a tube is much less invasive than swabbing the cavernous depths of your sinuses. - Tests are expected to cost - Labs can source tools from multiple vendors, decreasing risks of supply chain clogs. The NBA ran point This spring, Yale partnered with the NBA to see how the SalivaDirect test compared to alternatives. The league and its players' union [threw in]( over $500,000 to help fund the project. NBA players aren't exactly average human specimens, but the league's bubble in Orlando is as controlled an environment as researchers can hope for. - For the last two months, players have been taking three COVID-19 tests: a nose swab, mouth swab, and SalivaDirect. - "There is almost nobody in the world being tested so often and in so many ways as NBA players," the [WSJ writes](. The results? SalivaDirect was just as effective as the other tests. But with the NBA bubble *knocks on wood* still COVID-free, the researchers need to see how SalivaDirect performs rooting out asymptomatic carriers elsewhere. We aren't acing this test The number of new U.S. cases has been [declining](...but so has testing. Labs have acknowledged crushing demand is causing delays. For results to be meaningful, patients need them within three days. But almost 40% take longer than that, according to a [CNBC and Dynata survey]( of 9,400 Americans. - Harvard prof. Ashish Jha told CNBC that after 48 hours, contract tracing windows have closed. "Beyond 72 hours, the test is close to useless." Some public health experts think a national testing strategy could reduce delays, as states with excess capacity could help those running behind. Bill Gates [suggested]( a government reimbursement system for healthcare companies that crunch results within 24 hours. Big picture: As schools, offices, and events prepare to resume, fast, easy-to-use, and cheap COVID-19 testing is needed. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=FDA%20Authorizes%20Saliva-Based%20COVID-19%20Test:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20 2020 [USPS SOS]( [USPS protest] Michael A. McCoy/Getty Images Yesterday, Democratic leaders said they'll [schedule]( an emergency House Oversight Committee hearing next Monday to discuss recent changes to the U.S. Postal Service and implications for the upcoming election. They asked recently installed Postmaster General Louis DeJoy and USPS board chair, Michael Duncan, to testify. The announcement punctuated a weekend during which mail delivery was the No. 1 topic of conversation. - [Photos]( [went]( [viral]( of mailboxes being removed across the U.S. An agency spokesperson said it’s part of routine operations, but they'll [pause]( anyway until after the election. - Protestors gathered outside DeJoy’s condo in D.C. to criticize his recent [cost-cutting initiatives](. Zoom out: The pandemic and DeJoy’s changes have exacerbated mail delays across the country. Last month, the Postal Service [told]( 46 states that it can't guarantee all mail-in ballots would arrive in time to be counted. - If primaries are any indication, four postal districts serving battleground states [failed]( to meet service goals for first-class mail between April and June. Looking ahead...Congress is on recess until September, but they're booking flights back to D.C. earlier than anticipated. Last night, House Speaker Nancy Pelosi [called]( on the House to return later this week to take action and "save the Postal Service." �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=House%20Dems%20Call%20Emergency%20Hearing%20for%20USPS:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20 IMAGES [Weekend Pics]( [Protestors in Minsk, Belarus] SERGEI GAPON/AFP via Getty Images Huge protests [continued]( in Minsk, Belarus, over last week's alleged rigged election and violent police crackdowns on demonstrators in the days that followed. This weekend, Russia pledged national security assistance to President Aleksandr Lukashenko and the EU moved toward [putting sanctions]( on his regime. David Mcnew/Getty Images It’s been a [brutally hot]( two weeks in California, where at least 11 major fires are burning and the pandemic + heat wave combo is straining the power grid. The state imposed rolling blackouts for the first time since 2001. MIGUEL MEDINA/AFP via Getty Images The cruise ship MSC Grandiosa [departed]( the port of Genoa, Italy, yesterday in what the company says is the first Mediterranean cruise since Italy's lockdown in March.  �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Photos%20From%20the%20Weekend:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20 SPONSORED BY ETORO [A Beautiful Morning to Run with the Crypto Bulls](#) [eToro]( Perhaps you’re perusing this newsletter at the breakfast table, sipping coffee. We bet you didn’t think you’d be running with the crypto bulls this morning—wind in your hair, adrenaline in your veins, and [a diversified portfolio of the world’s most popular cryptocurrencies]( in your digital pocket. But it’s an [eToro]( morning. [eToro]( lets you trade the best crypto on Planet Earth, with out-of-this-world tools and resources. Once you [set up an account](, you can practice with a virtual portfolio. That way, you’ll get a feel for the platform without risking any actual dough. When you’re ready to hit the ground running, eToro lets you copy the moves of other traders. Read: Use the moves of eToro’s top-performing traders to your advantage. This morning, after you [sign up for an eToro account]( and purchase $500 of crypto, they’ll give you a $50 bonus.* [Run towards this offer](. 2020 [Run-DNC]( [A sign advertises the convention at Wisconsin Center, home to the 2020 Democratic National Convention in Milwaukee] Bryan R. Smith/AFP via Getty Images The Democratic National Convention begins today and, in true pandemic form, it'll be smaller, later, and a lot more virtual than initially planned. The DNC had been scheduled to take Milwaukee by storm in July, but now, according to the party, it'll feature "both live and curated content originating from Milwaukee and other satellite cities, locations, and landmarks across the country" from 9–11pm ET each night. The event will culminate on Thursday when Joe Biden accepts the nomination for president. - Tonight's speakers include Michelle Obama, Sen. Bernie Sanders, and former Ohio Governor John Kasich (a Republican). - You can see the full lineup [here](. Big picture: With the election less than three months away, it'll start to play a [bigger role]( in investors' decisions. Elections always create more uncertainty for the markets, but President Trump's attacks on mail-in voting and the possibility of a drawn-out result could lead to more volatility than usual. In the latest NBC News/WSJ poll out yesterday, Biden leads Trump by [nine points]( nationally. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=DNC%20Kicks%20Off%20Virtually:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20 CALENDAR [The Week Ahead]( If you're the type of person who likes retail earnings, this week is your Super Bowl. Monday: NBA playoffs begin Tuesday: Housing starts; earnings (Walmart, Home Depot, Kohl’s) Wednesday: Fed minutes; OPEC+ meeting planned; earnings (Nvidia, Target, TJX, Lowe’s, L Brands) Thursday: Jobless claims; Alibaba earnings Friday: Regal movie theaters will open; existing home sales �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=The%20Week%20Ahead:%20August%2017:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20 WHAT ELSE IS BREWING - [The SEC]( brought the fewest number of insider trading cases in decades last year, NPR reports. - [Knorr](, a German food company owned by Unilever, will rename a popular sauce which carries a name with racist connotations. - [Berkshire Hathaway]( cut its stakes in U.S. banks last quarter and added an investment in mining company Barrick Gold Corp. - [Robert Trump](, the younger brother of President Trump, died Saturday at 71. BREW'S BETS Bodyguards snooze and rottweilers fall for treats; trust [SimpliSafe](, the security system that provides better protection for your home in just 30 minutes. Customize with smart locks, video doorbells, and more—all monitored 24/7 by professionals. [Protect your home today](.* Robot mows down competition. [Graze]( is the fully autonomous commercial lawn mower disrupting a $53 billion market. These grass-munchin’ bots increase customers’ profitability, which is why Graze has raked in $19 million in pre-orders. Bring that green to your wallet, too: [Invest in Graze today](.* TikTok tips: the [Tupperware hack]( you’ve been waiting for. Evening activity: Learn a new card game. [This website]( has the rules for every card game you can think of, from President to Spades. *This is sponsored advertising content FROM THE CREW [Start Talking](#) On Mondays, we present some of the most pressing business topics of the day, give you a few balanced resources, and encourage you to read and discuss with friends, family, and coworkers. Today’s topic: Kamala Harris (pronounced comma-la), Joe Biden’s pick to fill his old gig as VP. A former California attorney general and sitting U.S. senator, Harris has an impressive resume that reminds us why we wouldn’t have cut it in law school. Let’s get to know her and see where she stands on business issues. - 55 things you should know about Kamala Harris ([Politico]() - Her controversial record on criminal justice, explained ([Vox]() - Harris’s stances on the [economy and taxes]( and [workplace issues]( - She has a complicated relationship with [Wall Street]( but a less complicated one with [fossil fuel companies]( - Or...maybe it's not that complicated with Wall Street, either. The WSJ wrote "[Wall Street Sighs in Relief](" following her VP selection. BREW CROSSWORD We’ve got an absolute humdinger coming your way from Brew reader Chris King. [Try solving it here](. - Remember, we are now accepting submissions for the Brew Crossword. Email a PDF of your 15x15 crossword to our fancy new email address: crosswords@morningbrew.com - We’ll send you Brew swag if we select your crossword to run in the Brew. SHARE THE BREW You only need 5 more referrals to receive Morning Brew stickers. In the wise words of a certain Jedi master: “Sticker or no sticker, there is no point in having a laptop if it doesn’t have a Brew sticker on it.” Or something like that. [Share your unique link]( to start racking up referrals. [Click here to get free swag.]( Hit the button below to learn more and access your rewards hub. [Click to Share]( Or copy & paste your referral link to others: [morningbrew.com/daily/r/?kid=a905682a]( ** A Note From eToro eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. *$50 bonus is limited to the first 1,000 participants.             Written by [Neal Freyman]( and [Alex Hickey]( Was this email forwarded to you? Sign up [here](. 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