🎵 Where Does TikTok Go From Here?

Good morning. US stock futures rose in Thursday morning trading as investors looked ahead to another key inflation reading.

🎵 US inches closer to ousting TikTok 

📝 Our report: The U.S. House of Representatives sent TikTok's Chinese owner ByteDance a "time's ticking" memo, giving them a solid six months to figure out what to do with their U.S. assets before Uncle Sam unleashes the ban hammer. The move comes as tensions between China and the US continue to mount over allegations of security concerns.  

 🔑 Key points:

• The bill passed 352-65, with bipartisan support, but it faces a more uncertain path in the Senate where some favor a different approach to regulating foreign-owned apps posing security concerns.

• The fate of TikTok, used by about 170 million Americans, has become a major issue in Washington. Lawmakers said their offices had received large volumes of calls from teenage TikTok users who oppose the legislation, with the volume of complaints at times exceeding the number of calls seeking a ceasefire between Israel and Hamas in Gaza.

• The measure is the latest in a series of moves in Washington to respond to U.S. national security concerns about China, from connected vehicles to advanced artificial intelligence chips to cranes at U.S. ports.

💡 So what: A ban on TikTok in the US could have several implications. Firstly, it would impact the millions of users who rely on the app for entertainment, social networking, and content creation. Additionally, it could strain diplomatic relations between the US and China, potentially leading to retaliatory measures from China and further escalating tensions between the two countries. Overall, the ban could disrupt the digital landscape and have ripple effects across various sectors, highlighting the complexities of balancing national security concerns with the digital freedoms of citizens.

Thursday - Initial Jobless Claims (wk end Mar 8)

Friday - No Major Economic News

📈 What does a Warren Buffett investable company look like?

💰 This is the average interest rate for savings accounts

🚗 Tesla faces bumpy road ahead

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🎮 Apple, game maker square off…again

WHAT: Epic Games, the mastermind behind the Fortnite frenzy, is throwing some serious shade at Apple! They’re accusing Apple of violating an injunction governing its lucrative App Store, and asked a U.S. judge to hold Apple in contempt and end its "sham" compliance. A September 2021 injunction by a U.S. District Judge in Oakland, California, let developers provide links and buttons that direct consumers to other means to pay for digital content.

WHY: The companies have been battling in court since 2020, when Epic accused Apple of violating antitrust law by requiring consumers to obtain apps through its App Store, where it charges app developers up to 30% commissions on in-app purchases.

🚙 EV maker lines up bankruptcy filing

WHAT: Looks like Fisker's electric dreams are sparking some "restructuring" drama! The startup has reportedly brought in some financial wizards to help navigate possible stormy seas ahead, with whispers of a potential bankruptcy filing according to reports from the Wall Street Journal.

WHY: Earlier this month, Fisker flagged going-concern risks, job cuts and a pause in investments into future projects until it secures a partnership with a manufacturer.

📰 X says “bye bye” to former CNN anchor

WHAT: Looks like Don Lemon's zest for interviews might need a new squeeze! Social media platform X abruptly ended its collaboration with Lemon, leaving the former CNN anchor with a canceled date just hours after he excitedly announced Elon Musk as his premier guest for an upcoming interview.

WHY: X said in January that Lemon - who was fired in April last year after nearly 17 years at CNN - would host a new exclusive show on the platform covering politics, culture, sports and entertainment.

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