Morning Brew ☕️
@MorningBrew
Everything you need to know about the world of business and the business of the world. ☕️
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Foie Gras is on the ballot in DC and the people are divided
why datacenter demand is RAMing our wallets (and also tech stocks):
Today’s first time voters never knew a world with Lehman brothers in it 💔🕊️
Today’s first time voter was:
- Born in 2008
- 8 years old when Trump was first elected
- In middle school when Covid hit
> It was a guy vibecoding at home
You can’t stop this train
🇺🇸 According to JPMorgan, the S&P 500 will rise no matter which party wins the midterm elections... Bullish
>Builds a suite of education apps
>Puts Chromebooks in classrooms across the country
>Turns off Google search for schools that don't adopt your AI
Cold world.
Crazy Election Day news dump
Musk's donations, a breakdown—
• America PAC: $216 million
• Senate Leadership fund: $168 million
• Other GOP Groups: $44 million
• Congressional Leadership Fund: $30 million
• State Groups: $16 million
In Texas alone, Musk has spent ~$224 million
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$474 million
That's much money Elon Musk has contributed to this year's midterm campaigns
It's the most anyone has ever donated in a single election cycle
$474 million
That's much money Elon Musk has contributed to this year's midterm campaigns
It's the most anyone has ever donated in a single election cycle
Elliott Investment Management:
"So many factors have lined up to cause this great boom that it might take disruption in only one or two of them to shift this momentum into reverse, leading to a cascading, self-reinforcing unwind of this bull market and an abrupt change from FOMO to FOGO (fear of getting obliterated)."
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Welcome to Election Day 2026!
What to know:
>Republicans currently control both chambers of Congress—House (218-214) / Senate (53-47)
>The House looks likely to flip, while the Senate, with 35 seats up for grabs, is far less certain
What else to watch:
>40+ data-center-related initiatives are on ballots across the county
>California's Prop 40, which could impose a one-time tax on state billionaires equal to 5% of their wealth
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Anthropic’s financials for the first nine months of 2026:
Revenue: $33.24 billion
Net loss: $104 billion
Palantir Q3 earnings—
Revenue:
• $2.3 billion / +96% YoY
Net Income
• $1.1 billion / +137% YoY
US Commercial Rev:
• $984 million / +148% YoY
US Government Rev:
• $953 million / +96% YoY
It's the first time Palantir's commercial sales outpaced government contracts
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Marvell and Lumentum's historic $115 billion deal
> Largest M&A deal of 2026 (equity basis)
> Second-biggest tech transaction on record
> Biggest merger between two public companies in history
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This is my quant
Muse's month-long run atop the Apple App Store has come to a tender and juicy end
NYC's World Cup Summer, by the numbers:
• Total Economic Impact: $2 billion
• Direct visitor spending: $1.2 billion
• Operational spending: $162 million
• Jobs supported: 12,100
During Tim Cook's tenure as CEO, Apple's market cap increased an average of about $32 million per hour, every hour...
For 15 years
(Per Bank of America analyst Wamsi Mohan)
The week ahead...
Monday:
• Season 18 of 'Always Sunny' premieres
Tuesday:
• Reddit joins the S&P 500
• Meta heads to federal court in CA for another social media addiction trial
• Home Depot reports earnings
Wednesday:
• New 50% tariffs go into effect on some Canadian products if trade deal with the US isn't reached
• Minutes from the Fed's July meeting released
• Earnings: Lowe's, TJX, and Target
Thursday:
• Earnings: Walmart and Alibaba
Friday:
• BJ's Wholesale Club reports earnings
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