Good morning. With tax season officially underway, the stock market acting like one of those Euphoria teens, and inflation hitting your wallet, there's no better time to check out our personal finance newsletter, Money Scoop. Seriously—there is no better time because they're also running an enticing giveaway that starts today. Subscribe to Money Scoop here. Then, enjoy this jam-packed newsletter. —Neal Freyman, Max Knoblauch, Matty Merritt | | | |  | Nasdaq | 13,855.13 | | | | | S&P | 4,410.13 | | | | | Dow | 34,364.50 | | | | | 10-Year | 1.771% | | | | | Bitcoin | $36,428.68 | | | | | Kohl's | $63.71 | | | | *Stock data as of market close, cryptocurrency data as of 6:00pm ET. Here's what these numbers mean. | - Markets: The major equity indexes took some inspo from the NFL this weekend and staged a thrilling comeback to close solidly in positive territory. At one point, the Nasdaq was down nearly 5% and the S&P entered correction territory. Kohl's shares soared as the retailer finds itself the target of several different takeover offers.
- Ukraine: Tensions between NATO and Russia continued to escalate yesterday over the Russian military buildup at the Ukraine border. The Pentagon said it's put 8,500 US troops on high alert ahead of possible deployment to Europe, and other NATO members including Denmark and Spain have sent ships and fighter jets to Eastern Europe.
| | DreamWorks Money. Highly anticipated research published yesterday in the Proceedings of the National Academy of Sciences showed that direct payments to low-income families appear to significantly affect the brain development of newborns. How the experiment worked: Researchers recruited hundreds of low-income mothers of newborns and separated them into two groups: - One group of mothers received $20 a month, and the other received $333. Do some quick back-of-the-napkin math, and you'll find the difference in income was $3,756 annually.
- Over the study period (which is ongoing until the kids reach at least four years old), the researchers measured the infants' brain waves by strapping them into a baby-friendly, brain-scanning cap.
What they found one year in: Babies whose mothers received $333/month showed a greater prevalence of higher-frequency brain activity than the $20/month cohort. That brain activity is often, but not always, associated with better cognitive skills down the line. The researchers say this is a game changer: "This is the first study to show that money, in and of itself, has a causal impact on brain development," study co-author and Columbia University neuroscientist Dr. Kimberly G. Noble told the NYT. Coming to a C-SPAN broadcast near you This study is not the kind that will be buried in the back of a dusty academic journal—it could have an immediate effect on policy debates on Capitol Hill. It's all about the child tax credit. Under an expanded child tax credit program, the Biden administration had been sending up to $300 per child to US households. In December, the program had reduced monthly child poverty by nearly 30%, according to an analysis by the Columbia University's Center on Poverty and Social Policy. But that credit expired at the end of 2021. Biden and progressive Democrats wanted to extend the program through the Build Back Better Act, but…we all know what happened to that bill. Zoom out: While debates around the child tax credit have mostly focused on incentives for parents, this research highlights the effect of cash transfers for children, throwing a new variable into the conversation.—NF | | Illustration: Dianna "Mick" McDougall; Sources: Getty Images, Google Google's ongoing corporate mission to dominate the National Geography Bee finally has some states fed up. Texas, Indiana, Washington state, and Washington, DC, sued Google on Monday, alleging in separate lawsuits that—from at least 2014 to 2019—the company deceived users about when it was tracking their location. The lawsuits allege that although users were able to "turn off" their location history, Google continued tracking their movements through other means and employed several tactics to pressure consumers into granting the company more access. "In reality, consumers who use Google products cannot prevent Google from collecting, storing, and profiting from their location," DC's complaint reads. - How does it profit? Google employs its users' location data to build out more robust profiles it can use to lure advertisers. The information also allows advertisers to see how effective their campaigns are at driving foot traffic.
The lawsuits came out of a three-year investigation following reporting by the Associated Press that showed Google stores user location data despite privacy settings. The cases seek to stop Google from collecting location data from users who've attempted to opt out, and impose a fine on the company. Google, in response, said that the lawsuits are "based on inaccurate claims and outdated assertions about our settings."—MK | | Matt Anderson/Getty Images The current Supreme Court is giving your uncle a run for his money when it comes to discussing controversial topics. In addition to hearing cases on abortion, gun regulations, and vaccine mandates, the court added affirmative action to its docket yesterday. SCOTUS will hear two cases that could shake up the admissions process at public and private colleges and universities across the US. Students for Fair Admissions, a group led by anti-affirmative action crusader Edward Blum, who's no stranger to the high court, sued Harvard University and the University of North Carolina for discriminating against Asian American applicants. In the Harvard case, the group argues that the school gave "massive preferences" to Black and Hispanic students. - Harvard has denied the claims and lower courts have sided with Harvard in previous cases.
- Harvard's current freshman class makeup is 52% white, 24% Asian, 11% Black, and 10% Hispanic. The school said that if it got rid of its current race-conscious admissions, "African-American and Hispanic representation would decline by nearly half."
Zoom out: Historically, conservative justices have voted against race-conscious admission programs but were usually outnumbered—now, they have a sizable majority at 6–3. Arguments will likely begin in the fall.—MM | | | With 24/7 professional monitoring service and rapid emergency dispatch, SimpliSafe helps keep the burglars (and intruders and fires and water damage and leaks and more) away from your home for less than $1/day. And when you order today (like, right now), you'll save 30% on your custom SimpliSafe system. SimpliSafe is the best in home security. And not to name-drop, but US News & World Report, PCMag, and Popular Science all agree. A comprehensive and customizable home security system, SimpliSafe is as build-your-own as your dream car. You'll get expert help picking out the sensors and cameras that your home needs for complete, seamless security. Did we mention monitoring costs less than a buck a day? That's a pretty sweet deal for 24/7 professional monitoring, emergency dispatch, and live alerts. Order today for 30% off your SimpliSafe system, plus a free HD Indoor Security Camera. | | Tesla Stat: Tesla's plant in Fremont, CA, is the most productive auto factory in North America, according to a Bloomberg analysis. Cranking out 8,550 cars a week, Elon's manufacturing facility beat out more than 70 others from legacy carmakers such as Toyota, BMW, and Ford. Quote: "What a stupid son of a b****." President Biden will have to wash his mouth out with soap after tearing into Fox News White House correspondent Peter Doocy yesterday. Doocy had asked Biden whether inflation would be a political liability for the midterms, which apparently the president did not appreciate. Biden later called Doocy to apologize. Read: Bill McCamley was NM's labor secretary, but working at a local movie theater taught him the truth about what's ailing the workforce. (The Experiment) | | ABC Shark Tank, basketball, and generic drugs: a great sick day plan and also the three things Mark Cuban is now known for. The billionaire owner of the Dallas Mavericks has launched an online pharmacy for generic drugs that looks to cut out middlemen and combat pharmaceutical industry price gouging by offering steep discounts. The Mark Cuban Cost Plus Drug Company set up CostPlusDrugs.com last week with 100 generic drugs to treat conditions like diabetes and asthma. Cost Plus will not accept health insurance but claims its prices will still be lower than what people would typically pay at a pharmacy. "All drugs are priced at cost plus 15%!" Cuban tweeted Thursday. - One example: A month's supply of Imatinib, a drug used to treat leukemia, retails for around $9,600, and $120 per month with a voucher. Cost Plus's price: $47 a month.
The company is building an $11 million drug manufacturing plant in the Dallas area that it hopes to complete by April. Cuban tweeted that the plant will allow the company to expand into injectables. Zoom out: A September Gallup poll found that 18 million Americans were not able to afford at least one prescribed medication in the previous three months.—MK | | - Sarah Palin's trial against the NYT has been delayed by 10 days because she tested positive for Covid-19. "She is, of course, unvaccinated," US District Judge Jed Rakoff remarked.
- Meta introduced an AI supercomputer it says will be the world's fastest by the time it's complete in the middle of this year.
- A Merrill Lynch financial advisor was arrested and fired from his job after unleashing a racially tinged rant against an employee at a smoothie store.
- Neil Young posted a letter to his management and record label requesting that his music be removed from Spotify over the platform's hosting of Covid-19 misinformation. "They can have [Joe] Rogan or Young. Not both."
| | Invest in some much-kneeded market disruption. Monogram is taking on the $19.6B joint-replacement industry using AI, 3D printing, and a navigated robot arm. Kneed we say more? Feb. 18 is your last day to invest in this groundbreaking tech.* Ever wonder whether your daily face serum actually works? Been there…and science suggests that it doesn't. With Droplette's NASA-backed skincare device you can infuse serums 20x deeper than the traditional stuff. Get ready to see an immediate difference. Take 20% off here.* Two bookmarkable websites: 1) The History of Mathematics Project and 2) a clock that tells you what time it is via literature. Oddly satisfying: Want to know how damaged sewer pipes are cleaned? This TikTok account has the answer. *This is sponsored advertising content | | Brew Mini: Tuesday mornings are for donuts and mini crosswords. Play the latest puzzle here. Wanna get away? Today is National Plan for Vacation Day, so to help spark getaway ideas, here are a few vacation-related trivia prompts: - The country with the longest coastline
- The country with the most vineyard surface area
- The US state with the most ski resorts
- The most popular international destination from Los Angeles International Airport
- The most reviewed place on Google Maps
| | - Canada
- Spain
- New York
- Mexico City
- Masjid al-Haram, aka the Great Mosque of Mecca
| | | Written by Neal Freyman, Matty Merritt, and Max Knoblauch Was this email forwarded to you? Sign up here. WANT MORE BREW? Industry news, with a sense of humor → - Emerging Tech Brew: AI, crypto, space, autonomous vehicles, and more
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