Good morning. Coming to an Apple commercial near you: An iPhone that apparently got sucked out of the Alaska Airlines plane when the door panel blew out was found on the side of the road…still intact and working even after plummeting 16,000 feet to the ground.
Talk about a best-case scenario.
—Cassandra Cassidy, Sam Klebanov, Molly Liebergall, Adam Epstein, Neal Freyman
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Nasdaq
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14,843.77
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S&P
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4,763.54
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Dow
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37,683.01
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10-Year
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4.002%
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Bitcoin
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$47,150.00
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Boeing
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$229.00
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*Stock data as of market close, cryptocurrency data as of 10:00am ET.
Here's what these numbers mean.
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Markets: Stocks surged yesterday, shaking off the rust from last week to post the first big rally of 2024. The Nasdaq jumped 2.2% as tech stocks found their groove, just in time for the start of CES today. The rebound did not extend to Boeing, which plummeted 8% following the grounding of its 737 Max 9 planes due to the Alaska Airlines incident.
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Mike Ehrmann/Getty Images
Tiger Woods announced yesterday on X that he’s ending his historic 27-year partnership with Nike. The news marks the end of one of golf’s most iconic images: Woods in a red Nike polo on the Sunday of a PGA Tour event.
A deal for the ages: Nike signed Woods in 1996, the year he turned pro as a 20-year-old, in a $40 million contract that at the time was the largest golf endorsement deal. The signature Nike swoosh stayed with him throughout his illustrious career: Woods earned $500 million over the nearly three decades of the relationship, per estimates.
But all good things come to an end…the sports world had speculated that Woods would hang up his Nike hat for good when the deal expired at the end of 2023. Since Nike shut down its golf equipment division in 2016, Woods has been using other brands’ clubs and balls and was most recently spotted on the course not in Nikes but in FootJoy shoes, which he’s said offer more stability as he recovers from an injury sustained during a car accident in 2021.
What’s next for the Big Cat?
Woods will likely play at the Genesis Invitational next month, his first official PGA Tour event in almost a year as he recovers from injury. But as far as brand deals go…no one knows for sure. Sports reporters think he’ll either start a brand within the golf company TaylorMade or create an entirely new brand.
Some in the golf world thought Woods might take a page from tennis star Roger Federer’s book and sign a deal with On Running, the Swiss shoe brand. Federer separated from Nike in 2018 to join Uniqlo and invested in On Running—which gave him a $300 million payday when the company went public three years later. But the company’s chief executive shut down those rumors yesterday.
Not the only departure from Nike…Jason Day left Nike just last week for the Malbon brand. While Nike has plenty of other big-name golfers donning the swoosh logo, its long-term future in the sport is uncertain.—CC
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A tropical getaway? Buying a home? Or maybe more gym time (a total classic)? Whatever you’ve got on your docket for the new year, there’s one thing you need to place front and center: money.
Facet is here to help you crush your new year finance goals. Their next-level memberships offer valuable financial advice, services, and a partner to help you maximize your financial outcomes.
Best part? Facet’s offering a limited-time (expires Jan. 31) *$450 kick-start offer. You’ll get $200 straight to your Facet brokerage account if you invest + maintain $5k within your first 90 days, plus the $250 enrollment fee waived.
Make money a priority in 2024.
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Handout/Getty Images
The fallout from Alaska Airlines Flight 1282 continued. Three days after a panel blew out midair on the Boeing 737 Max 9 aircraft, hundreds of flights were still grounded as the FAA directed US airlines with Max 9s—Alaska and United—to inspect their fleets. During those inspections, both airlines said they found loose bolts on plug doors. Meanwhile, federal officials revealed that the plane involved in the incident was restricted from flying long flights over water due to a known pressurization problem, though that may have been unrelated to the door plug incident. The cockpit voice recorder, which could have helped investigators determine how the panel came off, was overwritten because it was not retrieved within two hours. Here’s what else flyers should know about the Boeing 737 Max 9 as the story develops.
The Peregrine moon lander suffered a propulsion system failure. The malfunction means the spacecraft—built by the private company Astrobotic Technology and financed by NASA—will likely not make it to the moon as intended. After a successful launch on Monday, Astrobotic posted on X that an anomaly led to a “critical loss of propellant,” forcing the company to change its mission objective. Peregrine was supposed to be the first American spacecraft to land on the lunar surface in more than 50 years. The mishap raises questions ahead of NASA’s crewed Artemis mission in November about the space agency’s approach to funding startups to send experiments to the moon rather than launch its own spacecraft.
Go Blue: There are a lot of happy people in the Brew office today, because Michigan took down Washington 34–13 for the school’s first college football championship since 1997. The game marks the end of an era for the sport, because next season will look very different. The College Football Playoff is expanding to 12 teams, and realignment will further obliterate conferences’ regional flair. Among the changes: Michigan and Washington will be Big Ten rivals, the University of California is joining the Atlantic Coast Conference, and the Pac-12 will have two teams.
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AFP Contributor/Getty Images
The world’s smallest Stradivarius is playing for Russian billionaire Dmitry Rybolovlev, who says Sotheby’s bamboozled him into overpaying $1+ billion for art treasures.
The Monaco-based fertilizer mogul is taking the storied auctioneers to a Manhattan court this week for allegedly conspiring to defraud him. Rybolovlev claims Sotheby’s abetted his longtime art advisor, Yves Bouvier, in deceitfully inflating the prices of a Modigliani sculpture, as well as paintings by Leonardo da Vinci, René Magritte, and Gustav Klimt.
The trial will give humble museum-goers a rare glimpse under the hood of the notoriously shady and unregulated private art market.
The fine strokes
Rybolovlev spent $2 billion snatching up Louvre-quality masterpieces between 2002 and 2014 via purchases arranged by Bouvier, with 12 of them brokered by Sotheby’s. But then Rybolovlev allegedly learned that…
- The 38 artworks he bought actually belonged to Bouvier, who pretended to negotiate the prices with nonexistent sellers.
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In some instances, the oligarch might have been overcharged: He paid $127.5 million for a 500-year-old da Vinci a day after Bouvier obtained it for $83 million (perhaps this wasn’t such a rotten deal, since Rybolovlev later sold it for $450.3 million).
A fierce legal battle ensued between the two art connoisseurs, spanning multiple jurisdictions in Europe and Asia. They recently settled their differences out of court, and Bouvier stressed that investigators found no criminal wrongdoing.
Sotheby’s is taking off its white gloves…one of its lawyers said there’s “zero evidence” that the auction house knew Bouvier was lying to Rybolovlev.—SK
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TOGETHER WITH INFINITY FUEL
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Diary of a Wimpy Kid/20th Century Studios
Bills Mafia could get even louder and prouder this year now that the city with the eponymous spicy wing is on its way to the NFL playoffs and to the top of young professionals’ house-hunting lists.
Buffalo, New York, will be the hottest housing market in the US in 2024 thanks to affordable home prices and strong employment rates, Zillow projected. So, if watching Bills fans welcome the team home yesterday from their AFC East title win doesn’t give you the urge to move there, you’re heartless this might:
- According to Zillow, the average cost of a home in Buffalo is ~$248k, well below the national average of ~$347k. The typical Buffalonian pays about $1.8k monthly for their mortgage, or $1.3k in rent.
- Buffalo also has the highest rate of new jobs per new home out of the 50 biggest cities in the US, according to Zillow, which uses this metric to determine expected housing demand.
Get ready for Silicon Billy. In October, the Biden administration named Buffalo a “tech hub” for semiconductor manufacturing, which means the city could get billions of dollars in government funding via the CHIPS Act.
Other hot housing markets include…Cincinnati, Columbus (we tried to tell you Ohio is in), and Indianapolis. Zillow predicts a great real estate year for the South, Midwest, and Great Lakes region. Sorry to everyone else.—ML
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Camille Tokerud/Getty Images
Stat: A lot of the people who felt the urge to adopt a dog during the pandemic are now saying er, actually, nevermind—and it’s throwing shelters into crisis. Bloomberg reported that the number of stray dogs in US shelters has increased by 22% since 2021, per data from the Shelter Animals Count database. And it’s not just older dogs losing their homes—shelter workers say they’re seeing more puppies, too. Worst of all, canine deaths in shelters are up 27% from last year and 78% from 2021 as they deal with overcrowding. Experts attribute the crisis to return-to-office mandates, the rising costs of petcare, and the end of pandemic-era eviction restrictions that are allowing landlords to enforce pet policies.
Quote: “Thank you Bob.”
It’s not every day that you come across a chunk of a Boeing 737 Max 9 in your backyard, but then again, not everyone is Bob. The teacher from Portland, Oregon, alerted the National Transportation Safety Board (NTSB) on Sunday that he found the door plug that fell off Alaska Airlines Flight 1282 last week, which should help the agency investigate how exactly a piece of a plane can just blow away midflight. The NTSB was quick to thank Bob in its press conference announcing the discovery of the door plug.
Read: This US shale magnate is trying to sell oil and gas jobs to Generation Z. (Financial Times)
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Apple announced that its highly anticipated Vision Pro headset will launch in February.
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Johnson & Johnson will pay $700 million to settle claims that it failed to warn consumers about the health risks of its talc-based baby powder.
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Astronomers discovered that Neptune is actually light blue, not dark blue as previously thought.
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China said it detained an individual who it claims is a spy for the UK’s intelligence service, MI6.
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Pope Francis called for a global ban on the “despicable” practice of gestational surrogacy.
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Go far: What to know about travel prices, requirements, and safety in 2024.
Go watch: Film critic David Ehrlich’s annual video countdown of the top 25 films of the year that was.
Go deep: Why left-handed quarterbacks like Washington’s Michael Penix Jr. are still so rare.
Go fish: Nutritionists explain why salmon is so good for you.
Search goes smart: AI has entered the search technology landscape. Join Elastic’s Jan. 31 webinar to explore emerging methodologies and best practices for optimizing AI-powered search apps. RSVP today.* *A message from our sponsor.
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Brew Mini: Honey, we shrunk the crossword. Play the Mini here.
Nutritional facts
In this game, we give you a list of ingredients for a pantry staple, and you have to name the product.
This one’s a mouthful:
Tomatoes (Tomato Puree, Water), Water, Enriched Wheat Flour (Wheat Flour, Malted Barley Flour, Niacin, Reduced Iron, Thiamine Mononitrate [Vitamin B1], Riboflavin [Vitamin B2], Folic Acid), Beef, Crackermeal (Enriched Wheat Flour [Bleached Wheat Flour, Niacin, Reduced Iron, Thiamine Mononitrate, Riboflavin, Folic Acid], May Contain Guar Gum), LESS THAN 2% OF: High Fructose Corn Syrup, Salt, Textured Vegetable Protein (Soy Flour, Soy Protein Concentrate, Caramel Color), Modified Corn Starch, Soybean Oil, Bleached Wheat Flour, Carrots, Dehydrated Onion, Caramel Color, Flavorings, Enzyme Modified Cheese (Cheddar Cheese [Pasteurized Milk, Cultures, Salt, Enzymes], Cream, Water, Salt, Sodium Phosphate, Xanthan Gum, Carotenal [Color]). CONTAINS: MILK, SOY, WHEAT
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Answer: Chef Boyardee Beef Ravioli. Yum.
Word of the Day
Today’s Word of the Day is: eponymous, meaning “relating to the person or thing for which something is named.” Thanks to Nathan from Buffalo, NY—regrettably not the eponymous Nathan of Nathan’s Famous Hot Dogs—for the suggestion. Submit another Word of the Day here.
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✢ A Note From Facet
Facet Wealth, Inc. (“Facet”) is an SEC Registered Investment Advisor headquartered in Baltimore, Maryland. This is not an offer to sell securities or the solicitation of an offer to purchase securities. This is not investment, financial, legal, or tax advice.
*Enrollment fee waived for new annual members. Please visit https://facet.com/legal-documents/kick-starter-promotion/ for additional terms and conditions. Offer expires January 31, 2024.
✳︎ A Note From Infinity Fuel
This is a paid advertisement for Infinity Fuel Cell and Hydrogen, Inc.’s Reg CF offering. Please read the offering circular at invest.infinityfuel.com.
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