Another company guts its DEI projects...
[Advertisement] July 01, 2024 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( PRESENTED BY [AT&T In-car Wi-Fi]( Good morning. Today is not only the first day of the second half of the year but also a sacred day for baseball fans: Bobby Bonilla Day. Every July 1, retired All-Star third baseman Bobby Bonilla receives a $1.19 million check from his former team, the New York Mets, even though he hasnât played an MLB game in over 20 years. The reason is that back in 2000, the Mets owed Bonilla $5.9 million, but instead of taking that cash up front, Bonilla worked out a contract that spreads out $30 million in guaranteed payments to him through annual installments from 2011â2035. And so, July 1 has become an annual celebration of Bonillaâs savvy financial planning and an opportunity to make fun of the Metsâ front office. âDave Lozo, Neal Freyman MARKETS: YEAR-TO-DATE Nasdaq $17,732.60 +20.09% S&P 500 $5,460.48 +15.13% Dow $39,118.86 +3.72% 10-Year 4.343% +39.7 bps Bitcoin $61,862.91 +46.37% Oil $81.46 +15.74% Data is provided by *Stock data as of market close. [Here's what these numbers mean.]( - Markets: As the stock market returns for H2, the calendar is giving âorientation weekâ vibes. Itâs a light slate, with the Fourth of July shutting things down early on Wednesday and all day Thursday, though Friday brings the monthly jobs report. Â DEI [Tractor Supply guts DEI projects after boycott calls](
[Tractor supply store]( Images Tractor Supply, one of the countryâs largest retailers of farming equipment, animal feed, and clothing, announced last week that it would [abandon]( its inclusion initiatives after facing weeks of right-wing backlash on social media. The companyâs hard 180 includes eradicating all jobs focused on diversity, equity, and inclusion, as well as ending Pride festival sponsorships. The move comes after it received a [perfect score]( on the Human Rights Campaign Foundationâs 2022 Best Places to Work Corporate Equality Index. The boycott was led by conservative commentator Robby Starbuck, who vented on X about the companyâs DEI programs at the start of Pride Month. Starbuckâs grand plan to get Tractor Supply to retreat from its inclusionary policies gained steady momentum throughout June, prompting the company to make an unusually public U-turn. - Tractor Supply says its predominantly rural and male customers tend to support conservative political candidates, which factored into its decision to scrap inclusion efforts.
- Amid boycott calls, the companyâs stock price is down more than 5% this month. LGBTQ advocates blasted the decision. The president of the nonprofit GLAAD called it an âembarrassing capitulation to the petty whims of anti-LGBTQ extremists.â Tractor Supply isnât alone in walking back DEI efforts Facing political and legal threats, some companies have been retreating from their diversity policies after putting a major focus on them following the 2020 murder of George Floyd. In April, the Wall Street Journal [reported]( that dozens of companies, including Kohlâs and GameStop, were quietly removing language from or tweaking their DEI programs. Bud Light and Target came under right-wing fire for their promotions with the LBGTQ+ community last year, resulting in sales declines for both. Though it didnât explicitly concern companies, the Supreme Courtâs decision in 2023 to end affirmative action in colleges has also emboldened conservative activists to attack diversity initiatives at businesses. Looking aheadâ¦Starbuck said, âWe definitely proved a modelâ for going after companies with a conservative customer base, and that he intends to target others.âDL PRESENTED BY AT&T IN-CAR WI-FI [Get the tailgate goinâ boom](
[AT&T In-car Wi-Fi]( The 4th is hereâletâs assess your plans. Youâve probably got your grill game on lock and scoped out a perfect spot to park your ride and watch some fireworks. But what about that extra liâl something-something to keep you entertained while you wait? You need AT&T In-car Wi-F. You can [stream, browse, and share all of your fave music]( TV shows, and movies from up to 10 Wi-Fiâcapable devices. Talk about a boominâ soiree. It works in proximity outside of your vehicle, too, so you and your revelers can [catch the best views while still bumpinâ tunes](. Plus, youâll never worry about lost connection, since AT&T In-car Wi-Fi covers more roads than any other carrier.* [Go big](. WORLD [Tour de headlines](#)
[French President Emmanuel Macron looks on as he visits Chanel's Metiers d'Art workshops at le 19M]Christian Hartmann/Pool/AFP via Getty Images Far-right party wins Round 1 of French elections. The nationalist National Rally party [cruised to victory]( in the first round of snap parliamentary elections in France, polling agencies projected, bringing it one step closer to mainstream power after being on the political fringe for decades. French President Emmanuel Macronâs alliance of centrists came in third, highlighting votersâ dissatisfaction with the current French leadership. People seemed amped to cast a ballot: Turnout came in over 65%, compared to 47.5% in the first round of the 2022 election. The second and final round of voting will take place with a runoff next Sunday. Biden camp in damage control after debate flop. The president spoke at fundraisers in New York and New Jersey this weekend, attempting to [reassure]( wealthy backers that his concerning debate performance was not indicative of his overall mental fitness. Other top Democrats, including Rep. Nancy Pelosi, went on the Sunday talk shows to rally behind Biden and push back on calls from inside the party for him to step down. In a CBS poll released on Sunday, 27% of registered voters believe Biden has the mental and cognitive health to serve, down from 35% early in June. Beryl expected to slam the Caribbean as Category 4 hurricane. Barbados and the Windward Islands are bracing for a [âlife-threateningâ impact]( this morning from Beryl, the first hurricane of the season and a monster one at that. Berylâs 42-hour intensification from a tropical depression to Cat 4 hurricane broke records, and itâs the earliest Cat 4 to form in the Atlantic Ocean in history. Beryl is not expected to be a threat to the US, but itâs a preview of what forecasters think will be one of the [worst hurricane seasons]( in the last few decades due to record-high ocean temperatures. TOGETHER WITH JACKED UP FITNESS
[Jacked Up Fitness]( Get jacked up at home. Ditch that pricey gym membership for the Jacked Up Power Rack All-In-One Trainer and app from [Jacked Up Fitness]( subscription required. Say goodbye to gym commutes, too: It fits perfectly in your living space or garage. Save 15% and get free shipping + a lifetime warranty through July 7 with [code BREW15](. MARKETS [Market H1 recap: Stocks went up and to the right](
[Stonks meme]( Meme Fresh At halftime, stocks are in the locker room feeling thrilled about their play so far. Letâs go full Inside the NBA and break down the major themes from H1. AI was the MVP: The S&P 500 gained a sublime 15% in H1, but Nvidia alone was responsible for more than a third of that gain. The maker of AI chips surged ~150% since Jan. 1 to become the most valuable company in the US at one point. No rate cuts, no problem: Going into 2024, investors were expecting the Fed to cut interest rates six times. There hasnât been a single rate cut yet, but that hasnât stopped the S&P from notching 31 all-time closing highs, good for the second-best tally of records this century. Stocks have overcome the Fedâs dillydallying thanks to strong earnings, a sturdy economy, and AI fever. Dogs of the Dow: The 139-year-old index has never looked more its age, with components Nike, Intel, and Boeing all down more than 30% in 2024. The Dow has gained less than 4% this year. Commodities soar, a currency plummets. Cocoa boomed nearly 85% over shortage concerns. Gold hit a record high last month. The Japanese yen has slumped to a 38-year low against the US dollar. Bitcoin got a boost from new ETFs, but itâs [getting boring](. Whatâs next? Of course, no one knows, but except for the Atlanta Falcons, a strong H1 has historically [foreshadowed]( a strong H2.âNF For in-depth stock market news every day, [subscribe to Brew Markets](. STAT [Prime number](#)
[Chart of volume of Chipotle burrito bowls]Wells Fargo Is Chitpole getty chintzy with its burrito bowls? According to a scientific investigation, yes. Analysts at Wells Fargo [purchased]( 75 identical bowls from eight locations in NYC and reported that sizes âvaried widely.â The median weight of the bowls was ~21.5 ounces, with the heaviest bowl weighing 27 ounces and the lightest one 14 ouncesâabout half the size. Wells Fargo also reported little variation between in-store and online orders. None of the food went to waste: The bowls were brought back to the office and given to employees for lunch, with the best workers getting the heaviest bowls, presumably. âWhile throughput is improving, order consistency remains an opportunity,â Wells Fargo said. CALENDAR [The week ahead](#)
[Rishi Sunak]Daniel Leal/Getty Images UK votes on the Fourth of July: Hot dogs are not on the menu but there could be [political fireworks](. After 14 years in power, Rishi Sunakâs Conservative Party could lose to the Keir Starmer-led Labour Party, which is on track to win a record 425 of 650 seats in the House of Commons, according to recent polls. Voters have cited the economy as their biggest issue: Inflation reached a record of 11.1% in 2022, though it fell to its 2% target in June for the first time since 2021. A ruling is coming on Donald Trumpâs immunity case today: And a decision by the Supreme Court last week seems to have [bolstered]( his chances. The majority sided with a defendant in an obstruction case from the Jan. 6, 2021, riots, ruling that obstruction of an official proceeding had to involve documents or other information. Two of the four felony charges against Trump for his efforts to subvert the 2020 presidential election involve that same obstruction law. If the court finds similarly for Trump, the case could be sent back to a district court. A new menâs hot dog-eating champion will be crowned: Just like in the UK, the US will hold a very important [contest]( on the Fourth of July to choose a new leader. The Nathanâs Hot Dog Eating Contest wonât feature 16-time champion Joey Chestnut, who isnât allowed to compete due to an endorsement deal with plant-based meat company Impossible Foods. He will instead head to an army base in Fort Bliss, TX, to compete against soldiers. Everything else⦠- Wimbledon begins today. Carlos Alcaraz and Markéta VondrouÅ¡ová return as defending singles champions.
- The Tour de France, which began on Saturday, rolls on today with the third stage.
- Itâs National Bikini Day on Friday and National Fried Chicken Day on Saturday. The first day calls for a two-piece, the second day calls for a three- or four-piece. NEWS [What else is brewing](#) - [Boeing]( will face a criminal fraud charge from the DOJ, per Bloomberg. The department told families of the victims of two fatal 737 Max crashes that the planemaker has until the end of the week to decide whether to plead guilty.
- [Inside Out 2]( topped $1 billion in global box-office sales, becoming the first movie since Barbie to reach 10 figures.
- [NASA]( said astronauts Butch Wilmore and Suni Williams âare not stranded in spaceâ aboard Boeingâs Starliner capsule, where they are currently stranded. They remain docked with the ISS without a return date as NASA tries to resolve issues with the spacecraft.
- [Chicken Soup for the Soul Entertainment]( which owns Redbox, filed for Chapter 11 bankruptcy.
- [An asteroid]( flew past Earth this weekend, missing us by a comfortable 180,000 miles. Retired umpire Angel Hernandez called it a strike. RECS
[Monday to-do list image] Check, please: Join the world in checking [1 million boxes]( at the same time. Party planning: Experts offer tips on how to be a [great guest or host](. Greasy does it: [Highlights]( from the Greasy Pole contest in Gloucester, MA. Rewind: What people in 1987 thought [2024 would be like](. One-stop shop: Find your [workplace must-haves]( all in one place with Walmart Business, plus have them delivered when you need them. Yep, [itâs that easy]( *A message from our sponsor. GAMES [The puzzle section](#) Turntable: Impress everyone at your Fourth of July barbecue with your word puzzle skills. [Start training with todayâs Turntable](. Canada trivia On Canada Day, here are five trivia questions about Canada. - Which animal is depicted on Canadaâs one-dollar coin?
- In terms of biggest countries in the world by area, where does Canada rank?
- Which of the following comedic actors was not born in Canada? Steve Carell, Will Arnett, Jim Carrey, Mike Myers
- Which of the following musical artists was not born in Canada? Neil Young, Justin Bieber, Stevie Nicks, Céline Dion
- What is described as âstrong and freeâ in the Canadian national anthem? 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:
[morningbrew.com/daily/r/?kid=4904f90a]( ANSWER - Loon
- No. 2 (behind Russia)
- Steve Carell was not born in Canada.
- Stevie Nicks was not born in Canada.
- The True North Word of the Day Todayâs Word of the Day is: chintzy, meaning âcheap.â Thanks to Lynette Holzhauer from Sherman Oaks, CA, and Michele Kudrich from Pennsylvania for the generous suggestion. Submit another [Word of the Day here](. ⢠A Note From AT&T In-car Wi-Fi *Based on independent third-party data. Requires eligible car and wireless service plan. Additional restrictions apply. Written by [Neal Freyman]( and Dave Lozo Was this email forwarded to you? Sign up [here](. Take The Brew to work - Marketers: [Marketing Brew](
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