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CA's governor gets inspired by Texas... December 13, 2021 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( TOGETHER WITH [Manscaped]( Good morning. Sending positive vibes to all the college students taking final exams this week. If it's any comfort, we also don't prepare for the newsletter until the day before, and it turns out just fine. —Neal Freyman MARKETS: YEAR-TO-DATE Nasdaq 15,630.60 +21.28% S&P 4,712.02 +25.45% Dow 35,970.99 +17.53% 10-Year 1.499% +58.0 bps Bitcoin $48,831.10 +68.37% Oil $72.85 +50.15% *Stock data as of market close, cryptocurrency data as of 10:00pm ET. [Here's what these numbers mean.]( - Markets: The S&P begins the week after closing at an all-time high last Friday. The index has closed at a record more times this year (67) than in any other year since 1995. It needs 10 more to tie the mark. - More S&P fun facts: Microsoft, Alphabet, Apple, Nvidia, and Tesla alone account for over a third of the S&P’s gains this year. POLICY [California Takes Inspo From Texas]( [SAN LEANDRO, CALIFORNIA - SEPTEMBER 08: California Gov. Gavin Newsom sp...](Justin Sullivan/Getty Images When Texas passed an abortion law that leaves enforcement authority in the hands of private individuals, experts predicted this unusual structure could become a model for other legislation. They were right. California Gov. Gavin Newsom said this weekend that he’s crafting a law that [bans assault-style weapons]( using an enforcement approach similar to that of Texas’s abortion bill. It would allow private citizens to sue anyone who manufactures, distributes, or sells those weapons for up to $10,000 (Texas’s law empowers individuals to sue abortion clinics.) - Some context: California had previously banned assault weapons for 32 years, but that was [overturned]( this summer by a federal judge. Newsom ripped the judge following the ruling and began looking for alternative ways to enforce an assault weapons ban. Enter: Texas Newsom, a Democrat, is no fan of Texas’s law that bans most abortions—he’s even pledged to make California an abortion “sanctuary” should Roe v. Wade get upended by the Supreme Court. So far, Texas’s law is holding up in court despite a barrage of legal challenges, and last week the Supreme Court allowed it to remain in effect. Newsom thought, “Hey, if they can do it to advance their policy goals, so can I.” - Gun rights advocates saw this coming. One nonprofit even filed a brief with the Supreme Court opposing Texas’s abortion law because of the potential consequences for the second amendment. Big picture: Republicans in California say Newsom’s announcement is just “grandstanding” in order to pad his presidential resume, should he decide to run. But it’s still a sign that other states aiming to ramp up gun control may take their cue from Texas. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=California%20Takes%20Inspo%20From%20Texas%3A%20https%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fstories%2F2021%2F12%2F12%2Fca-governor-newsom-unveils-plan-for-assault-weapons-ban-with-texas-s-abortion-bill-as-inspiration%3Futm_campaign%3Dmb%26utm_medium%3Dnewsletter%26utm_source%3Dmorning_brew%26mid%3D{{md5%28profile.email%29}}%26uid%3DzARWwifVAHAEdT1ypp39crta%0A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%20%E2%80%94%20Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley%2C%20daily.%0Ahttps%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fr%2F%3Fkid%3D4904f90a%26utm_source%3Demail_share%0A WEATHER [Deadly Tornadoes Rip Through the Midwest]( [homes and businesses are destroyed after a tornado ripped through town the previous evening](Scott Olson/Getty Images A series of tornadoes [flattened communities]( in Kentucky and other Midwestern states on Friday night. Kentucky Governor Andy Beshear said more than 80 people were killed in his state, but expected the death toll to rise to over 100. It is the deadliest tornado event in the state’s history, Beshear said. Twisters are rare for December, but atypical hot and humid weather contributed to a [remarkably powerful]( storm cluster. - A single tornado traveled 250 miles, which, if initial reports are confirmed, would break the record for the longest tornado track. - Debris were hurled up to 30,000 feet in the air, or as high as commercial jets fly. Factories where workers were busy prepping products ahead of the holiday season became the sites of numerous fatalities. - The large Mayfield Consumer Products candle factory in Mayfield, KY, was destroyed by a tornado. Eight people have been confirmed dead and another eight are missing. - Six people were killed when an Amazon distribution center in Illinois collapsed. Here are [ways to help]( the tornado victims, and here is [drone footage]( showing the damage in Mayfield. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=Deadly%20Tornadoes%20Rip%20Through%20the%20Midwest%3A%20https%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fstories%2F2021%2F12%2F12%2Fdevastating-tornadoes-level-parts-of-the-midwest%3Futm_campaign%3Dmb%26utm_medium%3Dnewsletter%26utm_source%3Dmorning_brew%26mid%3D{{md5%28profile.email%29}}%26uid%3DzARWwifVAHAEdT1ypp39crta%0A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%20%E2%80%94%20Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley%2C%20daily.%0Ahttps%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fr%2F%3Fkid%3D4904f90a%26utm_source%3Demail_share%0A COVID [Omicron Speed Round]( Boosters work: New data from Israel showed that a [third shot]( of Pfizer-BioNTech’s vaccine effectively prevents serious illness from the Omicron variant, but two doses doesn’t do the trick. A Pfizer study from last week revealed similar results. NY masks up: All public indoor places that do not require proof of vaccination will need to [mandate mask-wearing]( starting today, per an order from Gov. Kathy Hochul. The move is intended to tamp down the state’s worst Covid surge in more than six months. Return to office on hold: Companies including Meta, Ford, Alphabet, and Lyft have all recently [pushed back]( their return-to-office dates or expanded remote work options for employees. Jefferies, the investment bank, canceled its holiday party and in-person client meetings after a spike in cases at the firm. The UK raises alert level: Prime Minister Boris Johnson said a “[tidal wave](” of Omicron cases would hit the country and that he’ll open up booster shots to all adults before the end of the year. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=Omicron%20Speed%20Round%3A%20https%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fstories%2F2021%2F12%2F12%2Fomicron-speed-round%3Futm_campaign%3Dmb%26utm_medium%3Dnewsletter%26utm_source%3Dmorning_brew%26mid%3D{{md5%28profile.email%29}}%26uid%3DzARWwifVAHAEdT1ypp39crta%0A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%20%E2%80%94%20Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley%2C%20daily.%0Ahttps%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fr%2F%3Fkid%3D4904f90a%26utm_source%3Demail_share%0A TOGETHER WITH MANSCAPED [Trim That Mistletoe So Your Jingle Bells Rock](#) [Manscaped]( When you’re trimming your tree this holiday season, make sure [MANSCAPED]( is in your bag of toys. And if you don’t have any MANSCAPED products to spread holiday cheer across your nether regions this year, we bring good tidings: [Their Holiday Sale is on](, which means 20% off and free shipping sitewide. MANSCAPED has been pulling double shifts in the workshop crafting products that’ll have your jingle bells ring-ting-tingling with good-looking cleanliness, like: - The Lawn Mower® 4.0 SkinSafe™ electric ball hair trimmer - The Weed Whacker® nose and ear hair trimmer - The Crop Reviver® travel-size ball refreshing spray And there’s ho ho ho so much more where that came from—anti-chafe boxers, water-resistant travel bags, moisturizing body wash, and more. Pull your sleigh up to [the MANSCAPED Holiday Sale here]( before it ends. GRAB BAG [Key Performance Indicators]( [Jars of Spam](Hormel Stat: Canned meat is the food trend you've been sleeping on. Spam sales hit a [record high]( for the seventh year in a row, the CEO of parent Hormel said. Quote: “I want to try something new, to go beyond politics to all the things I’m interested in; I’m ready for a new adventure.” Fox News Sunday host Chris Wallace announced he’s [leaving the network]( after 18 years in a surprise announcement. Early next year he’ll begin hosting a weekly show for CNN+, CNN’s new streaming service. Read: What if people don’t want a “career”? ([Galaxy Brain]() �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=Key%20Performance%20Indicators%3A%20https%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fstories%2F2021%2F12%2F12%2Fkey-performance-indicators-december-13%3Futm_campaign%3Dmb%26utm_medium%3Dnewsletter%26utm_source%3Dmorning_brew%26mid%3D{{md5%28profile.email%29}}%26uid%3DzARWwifVAHAEdT1ypp39crta%0A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%20%E2%80%94%20Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley%2C%20daily.%0Ahttps%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fr%2F%3Fkid%3D4904f90a%26utm_source%3Demail_share%0A CALENDAR [The Week Ahead]( [Jerome Powell sitting at a desk looking concerned ](Alex Wong/Getty Images All eyes on Powell: The final Fed meeting of the year should be [action-packed](, as Jerome Powell and his central bank pals try to tame the highest inflation rate in 39 years. What investors want to know: 1) Whether the Fed will unwind its stimulus measures more quickly than planned and 2) How many rate hikes they should expect for next year. Earnings: The electric automaker Rivian will report earnings for the first time as a public company on Wednesday. FedEx also drops its quarterly numbers this week. Everything else: - Spider-Man: No Way Home hits theaters on Friday. - Closing arguments for the Elizabeth Holmes trial begin on Thursday. - Tiger Woods will play alongside his son at the PNC Championship on Saturday, the first time he’s competed since a brutal car crash 10 months ago. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=The%20Week%20Ahead%3A%20https%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fstories%2F2021%2F12%2F12%2Fthe-week-ahead-december-13%3Futm_campaign%3Dmb%26utm_medium%3Dnewsletter%26utm_source%3Dmorning_brew%26mid%3D{{md5%28profile.email%29}}%26uid%3DzARWwifVAHAEdT1ypp39crta%0A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%20%E2%80%94%20Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley%2C%20daily.%0Ahttps%3A%2F%2Fwww.morningbrew.com%2Fdaily%2Fr%2F%3Fkid%3D4904f90a%26utm_source%3Demail_share%0A WHAT ELSE IS BREWING - [Blue Origin’s]( launch on Saturday, carrying Michael Strahan and five others, was the thirteenth human space mission this year. That’s the most such missions in any year in history (second place is 1985, with 11 launches). - [West Side Story]( brought in an estimated $10.5 million at the domestic box office, a disappointing result. - [Alibaba]( fired an employee who accused her former boss of sexual assault earlier this year, according to a Chinese state-backed newspaper. - [Exchange-traded fund inflows]( hit $1 trillion for the first time this year. In 2020, ETFs brought in $735.7 billion. - [Max Verstappen]( won his first ever F1 championship in a highly controversial finish at the Abu Dhabi Grand Prix. TOGETHER WITH BOMBAS [Bombas]( The gift of cozy toesies. Pick out merry and bright socks fit for the whole fam from the Bombas holiday collection. They come in festive gift boxes—AKA, no wrapping required. You can save up to 15% on packs and feel jolly knowing each item you buy = one equal item donated. [Shop here](. BREW'S BETS Business education without the BS. [MB/A,]( our virtual 8-week program, is designed to accelerate the careers of top professionals by giving you skills you can apply directly at work. We have a few more spots left in our 2022 winter cohort, and, if you apply before Sunday (December 19th) you’ll save $100. [Fill out the application today](. We have confirmation: Students [do not read syllabi](. Dive back into the week: - Shallow dive: [Wowwww]( - Medium dive: Peloton [claps back]( - Deep dive: [Tips on being successful]( by Sam Altman - Cannonball: [The Rescue]( on Disney+ - Bonus dive: The Retail Brew event on 2022 planning is tomorrow. [Register here](. GAMES [The Puzzle Section](#) Turntable: Here’s a [fresh serving]( of your new favorite Monday morning tradition. Name That Movie Can you name the movies that contain the following quotes? - “I’ll be back.” - “That rug really tied the room together.” - “Honey, where's my super suit?” - “Here’s looking at you, kid.” - “Tina, you fat lard, come get some DINNER!” - “I ate his liver with some fava beans and a nice Chianti.” - “I fart in your general direction!” SHARE THE BREW We think you should [share the Brew.]( Not only is it a smart thing to do for your friends, it’s also the smartest way to get showered in free Brew swag. Your referral count: 0 [Click to Share]( Or copy & paste your referral link to others: [morningbrew.com/daily/r/?kid=4904f90a]( ANSWER - The Terminator - The Big Lebowski - The Incredibles - Casablanca - Napoleon Dynamite - Silence of the Lambs - Monty Python and the Holy Grail HOW WAS TODAY'S NEWSLETTER? [GREAT]( [GOOD]( [BAD]( � � � � � Written by [Neal Freyman]( Was this email forwarded to you? Sign up [here](. WANT MORE BREW? 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