🪧 Businesses Bark Back At Biden Admin Over...?

Good morning. US stock futures dipped in Tuesday morning trading as investors look ahead to the Federal Reserve’s decision on interest rates.

📉 Business groups fight back against Biden admin “overreach”

📝 Our report: Members of the business world aren’t too happy with recent moves by the Biden Administration! The administration now faces a wave of lawsuits targeting its regulatory agenda, as business and banking groups argue that federal agencies are overstepping their authority.

 🔑 Key points:

• So far this year, the administration has finalized seven rules, addressing such areas as independent contractors, credit card late fees and climate disclosure requirements, only to see them met with near-immediate lawsuits by the US Chamber of Commerce and other groups.

• The Chamber said it expects to file a total of at least 22 lawsuits against the Biden administration before the end of President Joe Biden’s current term. That’s a dramatic increase from the number of suits it filed against two previous administrations — three against the Trump administration and 15 during Obama’s first term.

• For its part, the Biden administration says the focus with all of its regulations is on protecting consumers and saving them money. Administration estimates show that the FTC’s noncompete ban will boost wages by at least $400 billion over the next decade.

💡 So what: Business lawsuits against the Biden administration over regulatory overreach trigger legal battles, shaping the regulatory environment and prompting policy reevaluation. These challenges also impact business confidence and investment decisions, fueling debates about government intervention and political ramifications.

Tuesday - Consumer Confidence

Wednesday - FOMC Interest Rate Decision, Fed Chair Powell Press Conference

Thursday - U.S. Trade Deficit

Friday - US Unemployment Rate, Consumer Credit

📈 7 investing tips from legendary investor John Bogle

💸 Your best options for when you need to borrow money

🧑🏽‍💼 A few brainstorming techniques to get your entrepreneurial juices flowing!

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🚗 Tesla gains FSD approval in China

WHAT: Tesla just got the green light from China to unleash its Full Self-Driving (FSD) wizardry on the mainland, according to the Wall Street Journal. Tesla had been previously using Baidu’s mapping data for satellite navigation in its cars. Working with a Chinese company helped with regulatory approval as data privacy and security risks are minimized, the reports said.

WHY: Adding FSD functionality in China is a big deal for the automaker not just for the added incremental revenue, but also in terms of the competitive edge it gives Tesla against rivals like NIO, Li Auto, XPeng, and even tech giants like Xiaomi, which is entering the auto market with semi-autonomous software of its own.

🏢 WeWork says no to Neumann offer

WHAT: WeWork's got some serious deal-making mojo going on – they just struck a settlement with their junior creditors and scored some fresh cash from their senior lenders, moving ahead with a bankruptcy deal that rejects a $650 million offer from co-founder and former owner Adam Neumann. The restructuring, now supported by all of WeWork's major creditors, would hand the company's equity to its senior lenders and cancel its $4 billion in debt.

WHY: WeWork, once valued at $47 billion, expanded at breakneck speed but racked up steep losses before filing for bankruptcy protection in November 2023. The company estimates that its post-bankruptcy equity is worth about $750 million.

📱 Wireless carriers fined over location data sharing

WHAT: Hold the phone! The Federal Communications Commission just slapped the largest U.S. wireless carriers with a hefty $200 million fine for sneakily sharing customers' location info. The carriers sold "real-time location information to data aggregators, allowing this highly sensitive data to wind up in the hands of bail-bond companies, bounty hunters, and other shady actors," FCC Chair Jessica Rosenworcel said in a statement.

WHY: Lawmakers in 2019 expressed outrage that aggregators were able to buy user data from wireless carriers and sell "location-based services to a wide variety of companies" and others, including bounty hunters.

✏️ DMB Insider Quiz ✏️

🧑‍💻 We read your emails and poll replies daily.

Hit reply and let us know what you want more of!

See ya next time, Daily Market Briefs