Good morning, Quartz readers!
HERE’S WHAT YOU NEED TO KNOW
Nelson Peltz says not to get too excited about the Trump bump for stocks. The investor says that “trees don’t grow to the sky” and that corporate fundamentals don’t support an endless rally.
Microsoft wants to use AI to take you to the moon. It’s rolling out a project with NASA to “democratize access” to the agency’s scientific data.
What, you don’t have King Charles III’s calèche on your Christmas list? The item is one of the opulent entries on the Neiman Marcus holiday catalog.
An AI stock darling might not be on the stock market much longer. Scandal-plagued Super Micro Computer could soon be delisted by Nasdaq if it can’t figure out how to file an earnings report.
America’s chief trust-buster will have her plans mussed. Lina Khan will soon be gone as chair of the Federal Trade Commission, and M&A dealmakers are salivating.
Cord-cutting cash finally flows for The Mouse
Disney has long been a giant in the film and television business, but it has struggled to find its footing as the entertainment industry shifted towards streaming as a primary consumptive method. But now the company is hitting its stride in the tech-forward entertainment world.
Last quarter, its streaming unit turned a profit for the first time. But the big prize this quarter is that Disney+ in particular, five years into its existence, is now in the black as well.
Will this bright spot be enough to overcome the conglomerate’s other struggles in the midst of its leadership transition? Quartz’s Bruce Gil breaks down Disney’s latest earnings numbers.
Trump tariffs’ expected impact takes shape
One of the biggest items on the watchlists of economy observers has been inflation. But just as the price of everyday goods began growing a little more slowly, likely tariffs from a second Trump administration could destabilize recent disinflation.
The National Retail Federation says that import surcharges could soar to 50% for everything from jeans to couches. And business leaders have been clear that those costs will likely get passed directly to their customers.
What typical purchases will likely get pricier during the next Trump era? Quartz’s Francisco Velasquez gives an overview of how consumers might feel the pinch.
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SURPRISING DISCOVERIES
Trump will get another shot at exploiting the Arctic National Wildlife Refuge. Last-minute oil and gas drilling leases that fell apart after he left office will be back on the table when he returns.
An AI chatbot told mushroom enthusiasts to sautée a poisonous specimen in butter. The bot, added by Meta to the Northeast Mushroom Identification & Discussion group on Facebook, made the ill-advised recommendation for a species known to accumulate arsenic. (paywall)
A lot of people want to watch the WNBA’s newest team play. The Golden State Valkyries secured 20,000 deposits for season tickets, the most ever for a debuting women’s sports team in U.S. history.
Toronto really, really loves Taylor Swift. The city is expecting 500,000 tourists for the pop star’s six-night, two-weekend stand of her Eras tour.
We may have already hit peak greenhouse gas. Unfortunately, emissions are still slowing much too slowly to prevent catastrophic climate change.
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Our best wishes on a safe start to the day. Send any news, comments, injurious mushroom recipes, and livestreams of Disney’s accounting department to talk@qz.com. Today’s Daily Brief was brought to you by Melvin Backman and Audrey McNamara.