Good morning, Quartz readers!
What to watch for today
China and the US begin trade talks. Donald Trump said earlier this week that he didn’t expect much from two days of tariff discussions in Washington, DC. Chinese foreign ministry spokesman Lu Kang, meanwhile, is hoping for a “good result,” even as the two nations expand their tariffs.
US stocks set a bull-market record. The S&P 500 has been on an upward trajectory since March 2009, powered by economic growth and robust corporate earnings. Barring a significant fall, today will mark the 3,453rd day of the bull run, making it the longest in US market history.
The Fed releases minutes from its August meeting. The summary isn’t expected to make waves, which means the market will be looking to confirm expectations of two additional interest-rate hikes this year, most likely in September and December.
Big-box retailers report earnings. Investors expect positive quarterly results from Target, reflecting the buoyant US economy and a boost from back-to-school shopping. At Lowe’s, analysts will be keen to hear if new CEO Marvin Ellison—formerly the boss at Home Depot—has plans for rejuvenating the company.
While you were sleeping
Facebook purged hundreds of disinformation accounts. The accounts and pages had ties to Iran and Russia and appeared to be using the social media platform to influence US foreign policy and politics in the Middle East. Twitter also suspended nearly 300 accounts for “coordinated manipulation.”
Trump distanced himself from his former campaign manager. Arriving at a rally in West Virginia last night, the president said he “felt very badly” for Paul Manafort, but “it does not involve me.” A jury on Tuesday found Manafort guilty on eight counts of bank and tax fraud.
A Republican congressman was charged with illegal use of campaign funds. Californian lawmaker Duncan Hunter and his wife Margaret were indicted for falsifying records and using more than $250,000 in campaign money to pay for luxury vacations, dentistry, and expensive meals.
Volkswagen may set Ducati free. The iconic motorbike brand doesn’t really fit with the group’s stable of passenger-car brands, according to VW CEO Herbert Diess. He said he would be open to merging it with a rival brand or entering into some form of partnership.
Australia’s political crisis deepened. Prime minister Malcolm Turnbull narrowly survived a leadership vote yesterday. His challenger, Peter Dutton, who resigned as home affairs minister after the contest, says he’ll try again this week to oust the beleaguered leader.
Quartz Obsession interlude
Tim Fernholz on the world’s biggest plane that, arguably, no one needs. “The disconnect between Stratolaunch’s goals and the actual needs of satellite operators have given rise to another theory about the company: that it is a secretly funded project of the US military to develop some very specific launch capability, perhaps even for anti-satellite weapons.” Read more here.
Matters of debate
Populism is exacerbating Europe’s measles explosion. Anti-vaccine rhetoric from governments and politicians stokes skepticism among parents.
Bitcoin’s energy consumption isn’t the issue. What matters more is who produces the energy, and if they use renewable sources.
Career advice for women is a form of gaslighting. Flawed workplaces and subtle biases aren’t factored in when women are told how to succeed.
Surprising discoveries
PETA pressured Nabisco to free its animal crackers. Parent company Mondelez has dropped the 116-year-old design of caged circus animals from the packaging of Barnum’s Animals.
Volkswagen has been in the sausage business for 45 years. The carmaker’s butcher shop in Wolfsburg made 6.8 million Bockwurst sausages last year.
The first customer complaint is 3,800 years old. The text, housed in London’s British Museum, is inscribed on a clay tablet and bemoans an incorrect copper delivery.
Hollywood wanted a white lead actress for Crazy Rich Asians. Kevin Kwan, author of the original book, said one producer’s offer was contingent on re-writing the main character as Caucasian.
China’s electric vehicle startups can’t make their own cars. Out of almost 500 EV makers, only eight have the licenses necessary to start manufacturing.
Our best wishes for a productive day. Please send any news, comments, German sausages, and animal crackers to hi@qz.com. You can follow us on Twitter for updates throughout the day or download our apps for iPhone and Android. Today’s Daily Brief was written by Jill Petzinger and edited by Jason Karaian.