☕️ Gridlock

Where the war in Ukraine is headed... March 21, 2022 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( TOGETHER WITH [SimpliSafe]( Good morning. When not watching basketball, I spent the weekend in a deep daylight saving time rabbit hole. My conclusion: We totally underrate morning sunlight. If permanent DST were enacted… - Parts of Montana, North Dakota, and Michigan won’t see sunrise before 9:30am on some winter days. - The latest sunrise of the year in Seattle would be 8:57am. In Indianapolis it would be 9:06am. - Where you’re located in a time zone is crucial. Both St. Louis, MO, and Williston, ND, are in Central time. But in St. Louis the latest sunrise would be 8:20am, and in Williston the latest would be 9:46am. —Neal Freyman, proponent of keeping things the way they are. MARKETS: YEAR-TO-DATE Nasdaq 13,893.84 -11.19% S&P 4,463.12 -6.36% Dow 34,754.93 -4.36% 10-Year 2.153% +63.9 bps Bitcoin $41,337.83 -10.73% Oil $104.86 +39.42% *Stock data as of market close, cryptocurrency data as of 6:00pm ET. [Here's what these numbers mean.]( - Markets: Last Monday, the chart above showed the S&P’s year-to-date performance at -11.8%. That drop has been cut nearly in half following the stock market’s best week in more than a year. In fact, the index is [up 5.6%]( since Russia invaded Ukraine, highlighting investors’ confidence in the US economy. - Ukraine: Ukrainian President Volodymyr Zelensky likened Russia’s invasion of his country to the Holocaust in an [appeal]( to Israeli lawmakers for military aid yesterday. So far in the conflict, Israel has tried to play the role of mediator—it has not sanctioned Russia or its oligarchs, but has been active in helping Ukrainian humanitarian efforts. Markets Sponsored by The Motley FoolAny HENRYs (High Earners, Not Rich Yet) in the house? If you’re ready to potentially take it from “not yet” to “on my way,” Motley Fool Stock Advisor is here with five FREE stock picks to help you try and [grow your nest egg](. UKRAINE [The war is headed toward gridlock]( [A view of a tank after a shelling](Leon Klein/Anadolu Agency via Getty Images The viral images of Russian tanks stuck in mud is a fitting metaphor for how the country’s invasion in Ukraine is going: More than three weeks in, this conflict is likely headed for a [stalemate](, according to new analysis from the Institute for the Study of War (ISW). Here’s how the respected research group came to this conclusion. 1. Russia’s initial campaign has failed. It attempted to take Kyiv, Kharkiv, and other major Ukrainian cities in the first few days of the war, but it hasn’t been able to capture those areas due to its own miscues and fierce Ukrainian resistance. 2. It’s getting bogged down in Mariupol. Russia has [devastated]( the southeastern Ukrainian city with a suffocating siege and constant shelling. But by devoting so many resources to Mariupol, Russia’s other initiatives are lacking sufficient combat power, the ISW wrote. And even if Russia does take Mariupol (which residents say “is [no city anymore](”), it may not significantly change the balance of the war. 3. Russia’s current strategy isn’t working. Its military is stretched thin, engaging in small-scale, local fighting that isn’t producing results. It could take the time to pause its invasion, regroup with more resources, and launch a concentrated attack with the appropriate amount of combat power, but it doesn’t appear to be changing tack, per the ISW. So what does stalemate mean? Nothing good. It “will likely be very violent and bloody,” the researchers concluded, referencing the mass casualties of World War I trench warfare. In military-speak, a stalemate is not a ceasefire, but a situation in which both sides launch offensives that don’t move the needle. In this war, it could mean more civilian deaths, as stymied Russian forces launch long-range missiles on populated areas in order to break the Ukrainians’ will. In all, the conflict could drag on for weeks or months, the ISW concluded. Sustained Western military support for Ukraine will be a key factor shaping the ultimate outcome of the war. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=The%20war%20is%20headed%20toward%20gridlock%3A%20utm_campaign%3Dmb%26utm_medium%3Dnewsletter%26utm_source%3Dmorning_brew%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%3Da905682a%26utm_source%3Demail_share%0A WORLD [Tour de headlines]( [Chart showing Covid cases in the US](Our World in Data Covid cases could rise in the US. Dr. Fauci pointed to an uptick in cases in Europe, driven by an Omicron subvariant, as a [precursor]( of what will likely happen here. The good news? Fauci doesn’t think the jump will amount to a “surge.” Meanwhile, hospitalizations and deaths are still falling across the country. Saudi Aramco more than doubled its profits. The Saudi oil giant brought in [$110 billion]( in net profit in 2021 thanks in part to a surge in energy prices. That windfall will be deployed in the kingdom’s efforts to diversify its economy away from oil. The Saudi sovereign wealth fund, already a major player in global markets, plans to invest another $10 billion in listed stocks this year, per the WSJ. The Batman is dominating the box office. The long, dark superhero flick held onto the [No. 1 spot]( for the third week running, and surpassed $300 million in North American ticket sales (becoming only the second movie of the pandemic era to hit that number). The Lost City, starring Sandra Bullock and Channing Tatum, could dethrone The Batman next weekend through sheer good lookingness. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=Tour%20de%20headlines%3A%20utm_campaign%3Dmb%26utm_medium%3Dnewsletter%26utm_source%3Dmorning_brew%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%3Da905682a%26utm_source%3Demail_share%0A ENTERTAINMENT [How are things going at Disney?]( [Mad Men GIF](Mad Men/AMC via Giphy Disney CEO Bob Chapek is facing [major blowback]( from employees over his handling of a Florida bill that bans the discussion of gender issues in some classrooms. At first, Chapek said that Disney, which is one of Florida’s largest employers, wouldn’t take an official stance on the bill, arguing that corporate statements on political issues are not effective. But when that non-stance was blasted internally and on social media, Chapek reversed course by publicly opposing the bill and apologizing. “You needed me to be a stronger ally in the fight for equal rights and I let you down. I am sorry,” he wrote to employees. - That apology hasn’t satisfied Disney’s rank and file. Employees have been staging 15-minute walkouts since last Tuesday, and a full-day walkout is planned for tomorrow. For help with crisis management, Chapek could theoretically turn to former CEO Bob Iger, who handed him the reins in February 2020. Problem is, their relationship has deteriorated to the point where they’re [not on speaking terms](, per CNBC. Chapek was reportedly miffed that a retired Iger volunteered to help Chapek steer the company through the Covid pandemic, undermining Chapek’s authority. Big picture: The internal turmoil threatens to overshadow Disney’s strong business performance under Chapek. The company crushed expectations for earnings, revenue, and Disney+ subscribers last quarter. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=How%20are%20things%20going%20at%20Disney%3F%3A%20utm_campaign%3Dmb%26utm_medium%3Dnewsletter%26utm_source%3Dmorning_brew%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%3Da905682a%26utm_source%3Demail_share%0A TOGETHER WITH SIMPLISAFE [Don’t fight fire with fire](#) [SimpliSafe]( Instead, protect your home and the people in it with [SimpliSafe](. Their systems can help you prevent fires and other disasters with advanced home security for under $1/day. And right now, get your SimpliSafe system for 30% off + a free HD security camera. With 24/7 professional monitoring ready to dispatch emergency services to your door just like *that*, SimpliSafe offers comprehensive home protection in any emergency. Let SimpliSafe be your first line of defense against intruders, water damage, medical emergencies, and other home havoc-wreakers. As their name suggests, SimpliSafe is simply [easy to set up](. Installing your new system takes only 30 minutes and doesn’t require any drilling, tools, or hard-wiring (making SimpliSafe ideal for homeowners and renters alike). Take 30% off your [perfect system today](. CALENDAR [The week ahead]( [Judge Ketanji Brown Jackson](Mandel Ngan/AFP via Getty Images SCOTUS hearings: Senate confirmation hearings for Ketanji Brown Jackson, President Biden’s pick for Supreme Court Justice, begin today and will last through Thursday. Jackson would become the first Black woman to serve on the Supreme Court if confirmed. [Here’s what to expect]( from the hearings. Biden Eurotrip: President Biden is heading to Brussels for a special NATO meeting with 30 other leaders. They plan to discuss the war in Ukraine and highlight the [unity]( they’ve displayed so far throughout the conflict. The Academy Awards are on Sunday. And it’ll look a bit different from the show you didn’t watch last year (it was the lowest-rated ever). After three years of going hostless, the Oscars will have three emcees: Regina Hall, Amy Schumer, and Wanda Sykes. Eight categories have been stripped out of the live broadcast. Everything else: - The March Madness tournaments roll on. If you’re not on board the Saint Peter’s bandwagon already, there’s still plenty of room. - Atlanta and Bridgerton return for new seasons. - The cherry blossoms in Washington, DC, will be in peak bloom this week. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=The%20week%20ahead%3A%20utm_campaign%3Dmb%26utm_medium%3Dnewsletter%26utm_source%3Dmorning_brew%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%3Da905682a%26utm_source%3Demail_share%0A GRAB BAG [Key performance indicators]( [Passengers are seen at Moscow's Domodedovo airport](AFP via Getty Images Stat: Tens of thousands of Russian young professionals have [left the country]( following its invasion of Ukraine, preferring to work remotely elsewhere. For example, about 3,000–4,000 Russians were registered as workers in nearby Armenia before the war; in the two weeks following the war’s outbreak, at least that many arrived almost every day, per the NYT. Quote: “Individuals may not request or require that others wear masks.” An interesting nugget from MIT’s [new policy]( on face coverings in indoor spaces. Read: The man behind ethereum is worried about crypto’s future. ([Time Magazine]() �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew%21&body=Key%20performance%20indicators%3A%20utm_campaign%3Dmb%26utm_medium%3Dnewsletter%26utm_source%3Dmorning_brew%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%3Da905682a%26utm_source%3Demail_share%0A WHAT ELSE IS BREWING - [More than 10 million Ukrainians]( have been displaced as a result of the war, the UN said yesterday. - [Ivermectin](, an antiparasitic that has been championed by celebs including Joe Rogan as a treatment against Covid, does not reduce hospital admissions, researchers found in the largest study to date. - [Afghanistan’s]( former finance minister is now an Uber driver in DC. - [Maury]( is ending its run after 30 years on daytime TV. BREW'S BETS Dive back into the week: - Shallow dive: [Depths of Wikipedia]( - Medium dive: What is [ApeCoin]( and who is behind it? - Deep dive: The man who [took on Putin]( - Cannonball: The many lives of a [fast-food phenom]( Fun with sounds: Here’s a [reaction soundboard]( and an [instant rap airhorn]( to annoy all your colleagues with. Defeat imposter syndrome: The Brew’s Nora Ali and Alex Lieberman are talking mental health and imposter syndrome on Twitter Spaces tomorrow at 9am. Start your morning off with good conversation. [Get reminded here](. Don’t miss out on the psychedelic movement. Ei.Ventures is on a mission to change the way mental illness is addressed. Plant-based treatments / psychedelic medicine is an estimated $35 billion industry that you can invest in—but only until tomorrow, 3/22. [Join the movement here](.* Yearning for your youth? We don’t have a time machine (yet), but Sakara’s best-selling super powder can help your metabolism act younger—for real. This women-founded wellness brand’s metabolism booster helps eliminate bloat, rev your digestion, and even curb sugar cravings. [Use code MARCH22BREW for 20% off](.* *This is sponsored advertising content. GAMES [The puzzle section](#) Turntable: Mondays are for clearing out work emails and playing the Brew’s word game, Turntable. [Try it here](. Name the college town March Madness is a wonderful opportunity to learn about the college towns that dot the US. We’ll give you a college in the tournament, and you have to name the city where it’s located. - Kansas - Gonzaga - North Carolina - Saint Peter’s - Arkansas 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=a905682a]( ANSWER - Lawrence, KS - Spokane, WA - Chapel Hill, NC - Jersey City, NJ - Fayetteville, AR � � � � � Written by [Neal Freyman]( Was this email forwarded to you? Sign up [here](. WANT MORE BREW? 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