Why Biden waited to bring down the Chinese balloon...
February 06, 2023 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( TOGETHER WITH [Huel]( Good morning. One small formatting update before we get into the news: In an effort to better organize our recommendations in the âBrewâs Betsâ section, weâre going to borrow a page from our Sunday newsletter and call that section the âTo-do Listâ every day of the week. The content isnât changing a lickâour aim is just to add more consistency and clarity for you. Thanks for the memories, Brewâs Bets... âNeal Freyman MARKETS: YEAR-TO-DATE Nasdaq 12,006.96 +15.60% S&P 4,136.48 +8.17% Dow 33,926.01 +2.38% 10-Year 3.524% -35.6 bps Bitcoin $22,892.02 +38.45% Tesla $189.98 +75.74% *Stock data as of market close, cryptocurrency data as of 5:00am ET. [Here's what these numbers mean.]( - Markets: In the five weeks of trading so far in 2023, the Nasdaq has gained in all five and the S&P in four. The still-booming labor market and falling inflation appear to be outweighing poor corporate earnings in investorsâ minds. Â GEOPOLITICS [Spy balloon gets popped](
[Chinese spy balloon floating in the air]( Peter Zay/Anadolu Agency via Getty Images Nearly a decade into its combat service in the US military, the F-22 Raptor fighter jet finally completed its first air-to-air strike. It took out a balloon. As excited onlookers watched from Myrtle Beach, the jet climbed to 58,000 feet and [downed]( a suspected Chinese surveillance balloon over the Atlantic Ocean on Saturday. The balloonâs debris was scattered across seven miles of the seaâbut the geopolitical fallout from its doomed voyage is much wider. Hereâs what you need to know about balloongate. Why wait to shoot it down? The US knew that the balloon had entered its air defense zone on Jan. 28, well before it floated across North America. President Biden wanted to shoot the balloon down last Wednesday, when it was hovering above Montana, but military leaders recommended waiting until no Americans were in harmâs way when its remnants came crashing down. Biden was attacked by Republicans, who wanted him to destroy the balloon much earlier and called it a âprojection of weaknessâ to allow a Chinese surveillance tool to enjoy unfettered access to our amber waves of grain. But the Pentagon actually thinks the balloon played into the Americansâ handsâthey were able to study the balloon as it floated, and an analysis of the debris will teach them even more about Chinese espionage tactics. What is Chinaâs response? The foreign ministry called the balloon pop a âclear overreactionâ and suggested it could retaliate. China never admitted the balloon was intended for spyingâclaiming instead it was a meteorology research airship that got blown off its course. The US isnât buying that. Were there other Chinese spy balloons? Yes, and pretty recently, too. Chinese surveillance balloons entered US airspace at least three times during the Trump administration and once previously while Biden was president, a senior defense official said. And thereâs also one currently floating above Latin America, the Pentagon revealed on Saturday. What happens next? The balloon drama will only deepen the distrust between rivals US and Chinaâit already led Secretary of State Antony Blinken to call off his planned meeting with Chinese President Xi Jinping. But Chinaâs relatively muted response to the balloon downing suggests it may let the hot air blow over...just like the US did. Â Â Â TOGETHER WITH HUEL [One less thing on the to-do list](
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[A collapsed building in Turkey]Volkan Kasik/Anadolu Agency via Getty Images Major quake hits Turkey. A 7.8 magnitude earthquake and several aftershocks [struck southeastern Turkey]( early today, causing buildings to collapse and sending tremors across other areas of Turkey, Syria, Lebanon, and Israel. The preliminary death toll was at least 234 people, but that number is expected to rise. Compounding the damage: Many of the residential buildings in the region near the epicenter are of low-quality construction, making them susceptible to shaking, per the United States Geological Survey. Close call at Austinâs airport. A FedEx cargo plane and a Southwest 737 came [within 1,000 feet of one another]( in a scary moment at Austin-Bergstrom International Airport on Saturday morning. Investigators are looking into the incident, which may have been caused by an air traffic controller double-booking a runway (the Southwest plane was taking off right as the FedEx one was landing). This is the second near-collision in as many monthsâauthorities are investigating a close call on a JFK runway that occurred in January. Kyrie Irving is headed to Dallas. The Brooklyn Nets are [shipping]( star Kyrie Irving to the Mark Cuban-owned Dallas Mavericks days after Irving requested a trade. Irvingâs four-season ride with the Nets was a bumpy oneâhe missed 35 home games under NYCâs Covid vaccination policy, and earlier this season was suspended for posting a link to an antisemitic movie on Twitter. Expect a flurry of other moves ahead of the NBA trade deadline on Thursday. MUSIC [Beyoncé anointed Grammy](
[Beyonce on stage at the Grammys]( Christopher Polk/Variety via Getty Images Beyoncé cemented her reign on the musical throne last night, becoming the [most-decorated artist]( in Grammy Awards history. Her four wins, including best dance/electronic album for Renaissance, vaulted her past classical conductor Georg Solti for the most Grammy awards ever. She ended the night with 32 total. While Beyoncé was the biggest story of the Grammys, she wasnât the only story from the award show, which returned to the Crypto.com Arena in Los Angeles after several pandemic-altered broadcasts. - Harry Styles won album of the year. His groovy Harryâs House topped entries from Beyoncé, Adele, and Bad Bunny.
- A new EGOT was crowned: Viola Davis became the [18th person]( to win an Emmy, Grammy, Oscar, and Tony after she received a Grammy for the audiobook to her memoir, Finding Me.
- The best performance: Certainly the Questlove-produced [celebration]( of the 50th anniversary of hip-hop.
- Didnât see this one coming: Dr. Dre won the Dr. Dre Global Impact Award. Looking aheadâ¦the first tickets for Beyoncéâs Renaissance Tour, her first solo tour in seven years, [go on sale today](. Ticketmaster has changed its process to avoid being attacked by the BeyHive like it was the Swifties.    TOGETHER WITH DIVERSYFUND
[DiversyFund]( Diversify à la real estate. These days, having a diversified investment portfolio is as important as ever. And [DiversyFund Premier Offerings]( can help you get there with single-asset multifamily offerings designed for accredited investors who want to build long-term wealth. You can invest based on location, tax benefits, and more. [Start here](. CALENDAR The week ahead
[State Farm Stadium in Arizona is decked out in Super Bowl regalia ]Christian Petersen/Getty Images Itâs Super Bowl week. Here are a few storylines to get you prepped for Sundayâs game between the Eagles and the Chiefs: Read about the woman who [rescued]( Patrick Mahomesâs season. Two starting Black quarterbacks will [face off]( in the Super Bowl for the first time everâand so will [two brothers](. Hereâs a preview of [Rihanna]( and the other musical acts. Finally, browse the [Super Bowl betting guide](. State of the Union address: President Biden will deliver his State of the Union address Tuesday night with a potential reelection campaign looming on the horizon. In something we can definitely relate to, heâll probably be editing the speech up until deadline to tweak his China section in light of the balloon drama. Earnings: This weekâs busy earnings slate is [highlighted]( by Disney, PepsiCo, Uber, and Chipotle. Investors are setting the bar low given the disappointing Q4 reports companies have posted thus far. Everything else⦠- Google could make some [big AI announcements]( at an event on Wednesday.
- LeBron James is just 36 points away from passing Kareem Abdul-Jabbar as the NBAâs all-time leading scorer. He should break the record this week.
- Itâs National Pizza Day on Thursday (and, frankly, every other day of the year). GRAB BAG Key performance indicators
[Mount Washington Summit]Mount Washington Observatory Stat: Yes, we all know it was really cold in the Northeast on Friday night. But how cold? So cold that New Hampshireâs Mount Washington found itself in the next layer of the atmosphere. Freezing temps caused the atmosphere to [compress](, and the dividing line between the troposphere (which weâre in right now) and the stratosphere sank in altitude to below the summit of the mountain. Quote: âItâs really an amazing day, an awe-inspiring day and actually a bit of a frightening moment.â Speaking of Mount Washington, there were actually people up there as the wind chill plunged to a record low of minus 108 degrees Fahrenheit. A team of scientists live on the mountain in order to take weather measurements, and one of themâFrancis Tarasiewiczâ[described]( to WMUR the thrilling-but-terrifying experience of braving the historic cold this weekend. Tarasiewicz said it was so cold that frostbite would set in after less than a minute. Read: I hired five people to sit behind me and make me productive for a month. ([Simon Berens]() NEWS What else is brewing - [Tesla]( hiked prices on its Model Y by $1,000 after the Biden administration raised the cap on prices for certain EVs eligible for tax credits.
- [Elon Musk]( said that while the last three months âwere extremely tough,â Twitter is trending to break even âif we keep at it.â
- [Ukraine]( is warning of a Russian offensive later this month, around the one-year anniversary of its initial invasion.
- [An Italian mafia fugitive]( was arrested in a town in France where he had opened his own pizza parlor.
- [A Colombian judge]( used ChatGPT in a court decisionâthe first known instance in which the chatbot has been included in a legal ruling, per Vice. RECS
[Monday to-do list image] Life hack: Use this [one-page calendar](. Listening binge: A podcast on the mysterious [Havana Syndrome](. Wellness tip: That caffeine kick you feel from coffee is really just [borrowed energy]( youâll have to pay back later. Work smarter: A (fake) [calendar plug-in]( that shows the cost of your meeting. Plus, [thoughts on being laid off](. Interview evolution: The problems with automated interviews are real; [hereâs what HR professionals need to know](. Your potential âbuy lowâ moment: Want top stock picks? [The Motley Fool]( is offering new members a [$79 intro offer](. Their picks have averaged a 420% return since its inception [as of 2/3/23].* *This is sponsored advertising content. GAMES The puzzle section Turntable: There are 38 words just begging you to find them in todayâs Turntable. [Play it here](. Peak trivia New Hampshire might have Mount Washington, but not all states can boast such great heights. There are five US states where the highest point of elevation does not exceed 1,000 feet. Can you name them? AROUND THE BREW [Become a data expert](
[Become a data expert]( Game of Thrones/HBO The NYTâs Upshot uses data and charts to analyze politics, policy, and the everyday life in between. Donât miss our free virtual event this Wednesday at 12pm ET, when weâll discuss all things data with Upshot editor Kevin Quealy. [Register now](. IT Brew shares the three big cybersecurity trends that will shape 2023. [Check them out](. [Money Scoop]( is a 3x/week newsletter that makes you smarter about your money. Youâll learn how to better invest, budget, spend, manage your taxes, and more. SHARE THE BREW [Share Morning Brew]( with your friends, acquire free Brew swag, and then acquire more friends as a result of your fresh Brew swag. Weâre saying weâll give you free stuff and more friends if you share a link. One link. Your referral count: 0 [Click to Share]( Or copy & paste your referral link to others:
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