☕ Unsolved mystery

The disappearance of MH370, 10 years later... March 04, 2024 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( PRESENTED BY [Masterworks]( Good morning. As we head back to the workweek, this is your reminder that 10 minutes is equivalent to about 1% of your waking day. Could be interesting small talk material for the first of your three unnecessary meetings today. —Neal Freyman, Dave Lozo MARKETS: YEAR-TO-DATE Nasdaq 16,274.94 +8.42% S&P 5,137.08 +8.31% Dow 39,087.38 +3.64% 10-Year 4.180% +23.4 bps Bitcoin $62,867.40 +48.75% Super Micro $905.48 +217.21% *Stock data as of market close, cryptocurrency data as of 12:00am ET. [Here's what these numbers mean.]( - Markets: Just another record-high Monday. The S&P 500 closed Friday at its highest level ever, having posted gains in 16 out of the last 18 weeks for the first time since 1971. And the index is getting a flashy new stock today: the server-maker Super Micro. Super Micro is the [AI all-star]( you’ve never heard of, jumping over 20x in the past two years and more than 200% in 2024 alone.  AVIATION [10 years after MH370, the search goes on]( [Visitors are writing messages at the Day of Remembrance for MH370 in Petaling Jaya, Malaysia, on March 3, 2024. Today marks the 10th anniversary of the disappearance of Flight MH370]( Supian Ahmad/NurPhoto via Getty Images Ten years ago this week, Malaysia Airlines Flight 370 disappeared on its way from Kuala Lumpur to Beijing in modern aviation’s greatest mystery. A [proposed search]( offers hope for the families of the passengers that the plane will eventually be located. The backstory: The vanishing of the aircraft, a Boeing 777, sparked the largest search operation in history. But in all those attempts over the past decade, the plane has not been found, and authorities still do not agree on what led to its disappearance—though [countless theories]( have been put forth. - Some of the more outlandish conspiracies, like hijackers landing the plane on a remote island, were eliminated when several pieces of debris from the aircraft were found on the East African coast. - Search efforts have focused on the vast expanse of the southern Indian Ocean, where the plane is believed to have crashed into the water. The new search plan Facing calls from passengers’ families for a renewed search effort, Malaysia’s government said this weekend it may conduct [another search]( for MH370 with help from a Texas-based tech company, Ocean Infinity. The firm’s prior search for the plane in 2018, which would have netted it a $70 million reward, came up empty, but it’s proposing another “no find, no fee” contract with the Malaysian government for a second expedition to the depths of the Indian Ocean. - In its next attempt to find MH370, Ocean Infinity would deploy swarms of autonomous underwater vehicles (AUVs) operated remotely from England. - But the company’s CEO told The Daily Beast that he couldn’t “[definitively]( say when the search would happen, and it’s unclear whether Ocean Infinity is even looking in the right spot. Big picture: Families of the passengers say finding the plane wouldn’t just mean closure for them—it’s also imperative to prevent a plane from going missing in the future. In the past 10 years, efforts by regulators to avoid another MH370 have been “[painfully slow]( Bloomberg noted. Dive deeper into the mystery: This [YouTube video]( is a great explainer on what might’ve happened to MH370, as is [this Atlantic article](   PRESENTED BY MASTERWORKS [This market pummeled stock darlings with 18.2%]( [Masterworks]( What’s one market that has bobbed and weaved around stocks for decades but has only been available to billionaires? [The market for Jean-Michel Basquiat’s art](. Yup, it’s true. Basquiat’s market appreciated at an annualized rate of 18.2% from 1984 to 2023, outpacing the S&P and some of the world’s strongest stocks. And now, for the first time, everyday investors are [getting in on the action](. Thanks to Masterworks, the award-winning platform for investing in blue-chip art. So far, each of its 21 exits have delivered a profit, realizing returns like 13.9%, 14.6%, 17.8%, and more. Join over 40k Morning Brew readers investing outside the stock market and [skip the waitlist to join](. WORLD [Tour de headlines](#) [A worker uses a snowblower in front of a downtown business north of Lake Tahoe during a powerful multiple day winter storm in the Sierra Nevada mountains]Mario Tama/Getty Images Extreme blizzard slams the Sierra Nevada mountains. You know a snowstorm is severe when it [shuts down ski resorts](. A debilitating blizzard dumped an estimated 5 to 12 feet in California by late Sunday, with the most accumulation occurring at elevations of about 5,000 feet. It closed down a 70-mile stretch of Interstate 80, and also left ~15,000 people in California and another 1,000 in Nevada without power. [Video]( from Donner Pass in the Sierra Nevada showed traffic at a standstill with some drivers [parking]( their trucks on the side of the road. Another storm is expected to bring 1 to 2 feet of snow to the area between Monday and Wednesday, according to the National Weather Service. Kamala Harris calls for “an immediate cease-fire.” During a speech in Selma, Alabama, the vice president delivered the Biden administration’s [most forceful call yet]( for a cease-fire between Israel and Hamas due to the “immense scale of suffering” of Palestinian civilians in Gaza. Negotiators are scrambling ahead of the start of Ramadan on Sunday to complete a deal that would include the freeing of the hostages held by Hamas in exchange for a six-week cease-fire and the release of Palestinian prisoners held in Israel. Israel reportedly [boycotted]( weekend negotiations in Cairo, saying Hamas didn’t agree to send a complete list of the hostages who are still alive. 🪱 Dune: Part 2 delivers the biggest opening weekend of 2024. With an [$81.5 million haul]( domestically and $178 million worldwide, the sequel is well on its way to exceeding the financial success of the 2021 original, released in both theaters and on HBO Max. Much like for the first movie, enthusiasm for Dune: Part 2 was fueled by moviegoers wanting to see the film in IMAX, which accounted for $18.5 million, or 23%, of ticket sales. The desire to watch the movie in director Denis Villeneuve’s preferred 70mm format was so strong that some attended [3:15am showings]( in NYC. The second installment in the beloved space saga gave a much-needed boost to a slumping box office, posting the best opening weekend in the US since Taylor Swift’s concert film last October. NATURAL RESOURCES [“Dream” helium finding in Minnesota]( [House being carried away by balloons in Up]( Up/Pixar Scientists are rejoicing over an unprecedented discovery that’s a total gas. A high concentration of [helium]( was found more than 2,000 feet beneath the surface of Minnesota’s Iron Range, easing concerns that the US has either depleted its helium reserves or sold them off to private equity. Why is helium so important? It’s not just for balloons and making funny voices. For example, MRI machines need thousands of gallons of liquid helium to cool the magnets that generate the images that diagnose cancer, heart conditions, and ligament tears. When exactly the planet will run out of helium is up for debate—one scientist said in 2019 it would take 10 years; others estimated there were at least 100 years of helium left. “12.4% is just a dream.” While that’s a comment usually reserved for an IPA snob to say about alcohol content, that was Pulsar Helium CEO Thomas Abraham-James’s ebullient reaction to the helium concentration levels in the discovery, which is roughly 30x the industry standard for commercial helium, CBS noted. What’s next? A third party will conduct a feasibility study to determine the size of the deposit and whether there’s enough helium to open a plant.—DL   TOGETHER WITH IMA® (INSTITUTE OF MANAGEMENT ACCOUNTANTS) [IMA® (Institute of Management Accountants)]( See into your future. Thinking about getting your CMA certification? [Download IMA’s 2023 Global Salary Survey]( to see how a CMA could impact your salary, job satisfaction, and career progression. Need a nudge? Globally, CMAs earn 21% more than their non-certified counterparts (and up to 43% more in some markets). [Take the first step](. CALENDAR [The week ahead](#) [Preside Biden at the State of the Union]Photo by Win McNamee/Getty Images Joe Biden to sell America on Joe Biden in the SOTU: With the president [trailing]( likely GOP candidate Donald Trump in most polls, Biden will attempt to win over voters in his annual address to the nation on Tuesday night. Biden is expected to [discuss]( taxes on the wealthy and corporations, preserving democracy, and a “unity agenda” that focuses on topics like fentanyl and ending cancer. The 81-year-old will also aim to deliver a focused, energetic speech that assuages concerns about his age. In a world first, abortion rights will be solidified in France: Lawmakers are expected to vote today in favor of adding an amendment to the country’s constitution that would guarantee abortion rights. If the amendment is passed, France will become the [first country in the world]( to include the right to an abortion in its constitution, per the BBC. The Academy Awards are on Sunday: Oppenheimer is the heavy favorite to win best picture and other top awards, including best director (Christopher Nolan), best lead actor (Cillian Murphy), and best supporting actor (Robert Downey Jr.). As for the show itself, Ryan Gosling will perform “I Am Ken,” one of two tunes from Barbie nominated for best original song. Jimmy Kimmel will host for the fourth time, which will tie him with Jack Lemmon and Whoopi Goldberg for the fourth-most times hosting. Everything else… - Fifteen US states and one territory head to the polls on Super Tuesday. With Donald Trump romping through Republican primary season, the usually important day [carries less meaning]( in the presidential election than usual. - Fed Chair Jerome Powell will [testify]( on Capitol Hill this week, and his message isn’t expected to change: The Fed isn’t rushing to cut interest rates. - Also in econland, the monthly jobs report will drop Friday, with little change expected to the super-low 3.7% unemployment rate. - International Women’s Day is Friday. GRAB BAG [Key performance indicators](#) [Rolex watches]Leon Neal/Getty Images Stat: No luxury brand rules over its category like Rolex does watches, and its dominance is only growing over time. The Swiss company sold 1.24 million watches and generated a record $11.5 billion in sales in 2023, up 11% from 2022 and more than the combined sales of the next three biggest brands. The watchmaker’s [30% market share]( was described as “unprecedented” in a report from Morgan Stanley and LuxeConsult. To put that into perspective, leading luxury bag-maker Louis Vuitton had a 19% share of its market last year. Quote: “We are probably past the era of peak ski seasons.” That’s the conclusion of environmental scientist Daniel Scott after conducting a study on the devastating effects of climate change on the ski industry. The study estimates that US ski areas [lost $5 billion]( between 2000 and 2019 due to warmer temperatures shortening the ski season by an average of five to seven days per year. The study says those losses could rise to $1 billion per year by the 2050s, depending on how much carbon emissions are reduced, with ski season trimmed by an estimated 14 to 33 days. Read: How removing parking spaces helped a New Jersey town go seven years without a traffic death. ([Associated Press]( NEWS [What else is brewing](#) - [The Supreme Court]( could rule as soon as today on whether former President Trump can remain on the ballot in the upcoming election. - [Oregon lawmakers]( took steps to roll back its drug decriminalization law. - [The lawyers]( who worked to void Elon Musk’s $56 billion compensation package in Delaware want their $6 billion in legal fees to be paid in Tesla stock. That’s nearly $300,000 per hour. - [Saudi Arabia]( Russia, and other oil producers in OPEC+ will extend their crude supply cuts until the end of Q2 to bolster the price of oil. - [Iris Apfel]( the self-described “geriatric starlet” and beloved interior designer and fashion model, died at 102. - [Iowa’s Caitlin Clark]( became the all-time leading scorer in NCAA Division I—men or women—when she passed Pete Maravich on Sunday. It was a big weekend for basketball greats: [LeBron James]( became the first player in NBA history to reach 40,000 career points. This beautiful [graphic]( shows how he scored them all. RECS [Monday to-do list image] Dogged reporting: A [map]( of the most common domesticated animal in every US county. Watch: The [wild story]( behind the creation of the blue LED. Zoom out: Is this the [most impressive zoom out]( you’ve seen from a smartphone? Glove your job: A Phillies’ minor league team is looking for a bullpen catcher…[on Indeed](. E-comm leaders: Tap into [profitable growth]( with these three investments. [Learn more from VTEX]( *A message from our sponsor. GAMES [The puzzle section](#) Turntable: Getting all 34 words in today’s Turntable will have you feeling lighter than helium. [Give it a shot here](. Geography trivia With which country does France share its longest border? 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. We’re saying we’ll 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: [morningbrew.com/daily/r/?kid=4904f90a]( ANSWER This is a tricky one: Brazil. French Guiana in South America is a part of France, and its border with Brazil is longer than “European” France’s border with Belgium. Word of the Day Today’s Word of the Day is: ebullient, which means “having or showing liveliness and enthusiasm.” Thanks to Dalton from Jasper, MO, for the uplifting suggestion. [Submit another Word of the Day here](. ✢ A Note From Masterworks Past performance is not indicative of future returns. Investing involves risk. See important disclosures at [www.masterworks.com/cd](. Written by [Neal Freyman]( and Dave Lozo Was this email forwarded to you? Sign up [here](. 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