Good morning, Quartz readers!
What to watch for today
A high-profile US-Russia meeting. US national security advisor John Bolton will sit down with Nikolai Patrushev, his Russian counterpart, in Geneva—the first high-level meeting since Donald Trump met Vladimir Putin in Helsinki.
Alibaba earnings. Analysts expect the e-commerce giant to post strong revenue growth (paywall), even as earnings take a hit from investments in logistics, brick-and-mortar retail stores, and content deals like the streaming rights for the World Cup.
Another round of tit-for-tat US-China tariffs. Washington is expected to announce a 25% tariff on $16 billion of Chinese goods, with Beijing responding in kind.
While you were sleeping
The US stock market set a bull-market record. It’s been 3,453 days since the benchmark S&P 500 index hit a bear-market low of 676 on March 9, 2009. That means US stocks are now in history’s longest-running winning streak.
Brick-and-mortar retailers posted big gains. Target blew past analysts’ profit expectations with its best same-store sales growth in 13 years, thanks to “unprecedented” growth in foot traffic at its physical stores. The real-world performance gains, coming on the heels of similar growth at Walmart, were twinned with a 40% gain in digital sales.
Someone tried to hack the Democratic National Committee. The DNC called the FBI after detecting a sophisticated attempt to sneak into its voter database. The hackers created a fake login page to steal usernames and passwords, but thus far, the attack seems to have failed.
Saudi Arabia called off the biggest IPO of all time. Reuters reported that crown prince Mohammed bin Salman’s plan to float shares of Aramco at a valuation of $2 trillion was scrapped in the face of lackluster investor demand—a setback to his attempts to diversify the kingdom beyond oil.
Donald Trump denied any wrongdoing after Michael Cohen’s plea deal. The president’s former lawyer told a federal court on Tuesday that Trump asked him to covertly make hush-money payments, in an apparent conspiracy to violate campaign finance laws. Trump, in response, claimed the funds “didn’t come out of the campaign; they came from me.”
Quartz Obsession interlude
Jessanne Collins on why we have “bull” and “bear” markets. “Though the terminology’s origins are murky, there is one reason these two animals lived side by side in the popular imagination just as they were gaining prominence as market terms: the barbaric British pastime of watching a team of dogs fight a wild animal.” Read more here.
Matters of debate
A random college roommate can be life changing. Unexpected pairings teach students how to engage with difference.
China will change Google, not the other way around. Plans for a censored search engine suggest the tech company is becoming just like every other corporation.
America’s golden age of infrastructure is almost over. After 61 years, the last great plan to transform the country’s roads is nearly complete.
Surprising discoveries
Radio Shack gave birth to hip-hop. Grandmaster Flash built his first mixer from parts he bought at the electronics store.
The Crazy Rich Asians author is a wanted man in Singapore. Kevin Kwan faces a fine and even prison for avoiding mandatory military service.
Sewage tells you a lot about drug use. Wastewater researchers discovered that Americans get lit during holidays and special events.
“Forgotten” crops can save the food sector. Malaysian scientists are promoting native foods to diversify diets and reduce carbon-heavy supply chains.
AIs love to watch TV. Endowed with curiosity, they find random television static extremely addictive.
Our best wishes for a productive day. Please send any news, comments, forgotten foods, and TV-addicted bots 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 and edited by Adam Pasick and Aisha Hassan.