â¦and Google and Meta want workers back IRL [Disclosures]( The Three Mile Island nuclear plant, which closed in 2019 (Andrew Caballero-Reynolds/AFP via Getty Images) Last Weekâs Market Moves Dow Jones
33,615 (-1.30%) S&P 500
4,329 (-1.27%) Nasdaq
13,313 (-2.78%) Bitcoin
$39,021 (-0.59%) Dow Jones
33,615 (-1.30%) S&P 500
4,329 (-1.27%)
Nasdaq
13,313 (-2.78%) Bitcoin
$39,021 (-0.59%) Hey Snackers, Itâs day 12 of Russiaâs war on Ukraine: Russian troops continue to advance toward Ukraineâs capital, Kyiv, and its main [shipping]( port, Odessa. Many soldiers and civilians have been killed, including children, but the total number has been difficult to verify. At least [1M]( refugees have fled Ukraine so far. In the US, stocks fell for the [fourth]( week despite a stronger-than-expected February jobs report. Investors are worried that the warâs shock to energy markets could push prices even higher. Want to start getting Snacks daily? Or prefer to unsubscribe? Manage your subscription preferences [here](. Fuel Western leaders underscore the urgency of energy independence as Russiaâs war escalates Low energy, high stakes... Western countries have [piled on]( financial sanctions to punish Russia. One thing they havenât touched: energy exports. Oil makes up a third of Russiaâs economy, and the West is still buying its oil and gas. Hereâs why: - Europe depends on Russia for [41%]( of its gas supply. The EU has focused on transitioning to renewables like hydro, wind, and solar â but those cover less than a fifth of its energy needs.
- The US is the world's top oil producer ([one-fifth]( of global supply), and [doesn't]( get much from Russia. But itâs also the [largest]( oil consumer, using up even more than it produces (think: long drives, big trucks, blasting A/C). Declaration of (energy) independence... So far, sanctions haven't slowed Russia's attack. But if the West stopped buying Russian fuel, it could crush Russiaâs economy. The problem: the West can't sanction Russian energy without also crushing Europeâs supply. Germany, which is most dependent on Russia, [said]( its lights âwill go out.â In the US, gas prices could soar even higher. Cue: - The Westâs focus is shifting to energy independence â when a country produces enough fuel to meet its own needs and eliminates foreign reliance.
- The EU is [set to unveil]( a proposal to become energy independent (read: no Putin necessary). Long term, it could mean dramatically expanding renewables and zero-emission sources like nuclear and hydrogen.
- The US can produce more, but President Bidenâs climate policies and oil giantsâ [reluctance]( to boost supply have pushed oil production [below]( 2019 levels. GOP leaders are [urging]( Biden to drill, but nuclear and renewables are more sustainable. THE TAKEAWAY Crisis moments accelerate change⦠as we saw during the pandemic. Weâre still in the thick of this crisis, but one thingâs becoming clear: it could speed an energy revolution. Russiaâs aggression is turning energy independence into a national-security imperative. Boosting renewable and nuclear energy can help get us there, but will take years of investment: fossil fuels still power [60%]( of the USâs electricity. Zoom Out Stories weâre watching Grounded... The West is squeezing Russia's [$19B]( airline industry as sanctions jolt the economy. Last week, European [Airbus]( and American [Boeing]( [stopped]( supplying parts to Russian planes. Meanwhile, global ticket-booking firm Sabre [cut off]( Aeroflot â Russia's national airline â crippling its ability to sell seats. Biden has [banned]( Russian flights from entering US airspace, and US airlines are rerouting around Russiaâs massive airspace. But travelers could pay the price: dodging Russia on long-haul flights (think: NYC to Seoul) eats up more jet fuel and could [hike]( ticket prices. The Great Wait is over⦠and your boss wants you to try the new office snacks. [Meta]( [Wells Fargo]( and [Cisco]( are [reopening]( offices this month after Delta and Omicron delays. Service workers never got the WFH experience, but most white-collar workers who did have [little]( desire to go back to IRL offices: so companies are dangling revamped spaces to lure them. [Dropbox]( ditched âofficesâ for open-concept â[studios]( Another tactic: [Googleâs]( asking staff to come in three days a week, after giving everyone a $1.6K bonus. Companies [expect]( most of their employees to be (partly) in offices by summer. Events Coming up this week March Madness gets influencer-ized⦠Competition on the b-ball court is dribbling into competition in your Insta feed. Thanks to last yearâs Supreme Court [ruling]( players can now earn $$ from sponsored posts during this monthâs NCAA tourney. Some have already scored $2M sponsor deals. By âSelection Sunday,â youâll see hundreds of college-hoop stars doing #sponcon for brands like Dunkin and Gatorade. Itâs a slam dunk for female players, who typically have larger social followings: female NCAA players have raked in more sponsor [cash]( than men. Short circuit... Investors are looking for the next EV maker to take on [Tesla]( but production snafus and chip shortages are making it tough. China's EV leader, [Nio]( shipped 6K of its sleek Tron-esque cars last month, up [10%]( from a year ago, but behind its January deliveries. US-based [Rivian]( which went public in November, blamed #flation for jacking up the price of its preordered e-pickups by $20K ([update]( the company reversed it). Weâll see how the customer backlash and supply-chain snarls could hit the Tesla rivals when they report this week. ICYMI Last week's highlights - [Coin-flict]( The war in Ukraine has boosted crypto demand across the board, causing [bitcoin]( price swings and renewing calls for more crypto rules. Ukraine has raised over $35M in crypto aid from a wide array of donors.
- [Yacht-]( To crank up pressure on Putin, the US and allies are targeting Russian oligarchs by going after their superyachts. So far, the politically connected oligarchs have lost at least $83B because of sanctions.
- [She-cession]( More women stopped working during Covid than men, even though recessions usually hit men harder. Unemployment has fallen below 4%, from a 15% peak in 2020, but womenâs jobs are recovering more slowly. What else we're Snackin' - [Watch]( An open conversation about the âtabooâ topic of $$: Four women chat with a money mentor about how they earn, budget, and invest â from juggling student-loan debt to building credit.
- [Shrooms]( Suds brand Dr. Bronnerâs (the one with tons of tiny label text) has donated $23M to psychedelic-therapy research. Psychedelics have been decriminalized in several US cities, and are already a $1B+ biz.
- [Curveball]( The MLB season is in jeopardy after owners rejected playersâ salary demands despite lengthy negotiations. Player paychecks have fallen for four years as league revenues have boomed. ðª Want to start Snacking daily? Sign up [here]( for our daily market newsletter. The Snacks Daily Podcast Disney+ plans to interrupt your âMandalorianâ binge with deodorant ads, becoming the latest streamer to roll out an ad-supported tier. [Tune in]( to hear why the âplusesâ are starting to look a lot like cable. Snack Fact Of the Day [The last day that all of us were on Earth together was October 31, 2000. At least one person has been aboard the International Space Station ever since]( This Week - Monday: Earnings expected from Nio and Squarespace
- Tuesday: International Womenâs Day. Earnings expected from Dick's Sporting Goods, Petco, Bumble, and MongoDB
- Wednesday: Earnings expected from Oracle, CrowdStrike, Campbell Soup, and Asana
- Thursday: Weekly jobless claims. Earnings expected from JD.com, Rivian, DocuSign, National Beverage, LegalZoom.com, and The Duckhorn Portfolio
- Friday: South by Southwest festival begins. Earnings expected from WeWork
- The weekend: Daylight-saving time on Sunday. Paralympics Closing Ceremony on Sunday. March Madness begins Sunday. Authors of this Snacks own: Bitcoin and shares of Google, Amazon, Disney, and Tesla ID: 2066824 Robinhood Snacks newsletters and podcasts reflect the opinions of only the authors who are associated persons of Robinhood Financial LLC (Member [SIPC]( and do not reflect the views of Robinhood Markets, Inc. or any of its subsidiaries or affiliates. They are for informational purposes only, and are not a recommendation of an investment strategy or to buy or sell any security, digital asset (cryptocurrency, etc) in any account. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Robinhood Markets, Inc., Robinhood Financial LLC, or any of their subsidiaries or affiliates. All investments involve risk including the loss of principal and past performance does not guarantee future results. [Robinhood Terms and Conditions]( ⢠[Disclosure Library]( ⢠[Our Editorial Principles]( ⢠[Contact Us]( ⢠[FAQ](
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