🎶 Has TikTok's Date With Destiny Arrived?

Good morning. US stock futures were mixed in Monday morning trading as Wall Street awaits the Federal Reserve’s highly anticipated policy meeting, during which central bankers are expected to cut rates for the first time since 2020.

🎵 TikTok to have its day in court

📝 Our report: The fate of TikTok, the viral app flagged as a national security risk by the FBI, could be hanging in the balance, as an upcoming court hearing in Washington, D.C. might just decide whether it gets to stay or faces a digital curtain call. Lawyers for the US Justice Department, TikTok, and a group of the platform’s users are scheduled to argue in court over a US law prohibiting Chinese ownership of the app.

 🔑 Key points:

• TikTok, a subsidiary of tech giant ByteDance, claims that the law, signed by President Biden in April, is unconstitutional.

• The law says ByteDance must divest control of TikTok by Jan. 19 2025, or face a nationwide ban.

• "ByteDance is not owned or controlled by the Chinese government. It is a private company," TikTok CEO Shou Zi Chew testified to members of Congress in a March 2023 hearing.

💡 So what: When TikTok and the U.S. Justice Department face off in court, the stakes could be high for both the app's future in the U.S. and broader issues like national security and data privacy. A ruling against TikTok might lead to a ban or stricter regulations, potentially severing its access to millions of American users, while setting a precedent for how the U.S. handles foreign-owned tech companies. Conversely, a win for TikTok could secure its place in the U.S. market and influence future legal and regulatory battles over privacy, data collection, and foreign influence in tech. The case will be closely watched as it could redefine the relationship between innovation and national security in the tech sector.

Monday - No Major Economic News

Tuesday - US Retail Sales

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

Thursday - U.S. Leading Economic Indicators

Friday - No Major Economic News

📈 16 rules for investing success according to John Templeton

💰 Thinking about buying a house? Here’s how to save in 7 easy steps

💸 Can you bootstrap your way to business success?

 📈 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.

🤖 OpenAI considers steep subscription price

WHAT: OpenAI is reportedly eyeing a premium ChatGPT subscription plan for businesses that could come with a hefty price tag—up to $2,000 a month. According to the report by "The Information," OpenAI aims to introduce premium tiers that are more expensive but will offer superior functionality and cutting-edge AI models that are still in development.

WHY: ChatGPT already has a paid plan offering quicker responses and some extra features. While the free version will remain for simple queries, this new model may offer something worth paying for – especially for businesses handling complex data and decision-making.

✈️ Air Canada, pilots reach agreement, avoid strike

WHAT: Air Canada and the union representing 5,200 pilots have reached a tentative four-year deal, dodging a potential strike that was set to take off in just a few days. “After several consecutive weeks of intense round-the-clock negotiations, progress was made on several key issues including compensation, retirement, and work rules. This agreement, if ratified by the pilot group, would officially put an end to our outdated and stale decade-old, ten-year framework,” said Charlene Hudy, chair of the Air Canada Master Executive Council who works as a first officer at Air Canada.

WHY: Industry trade associations had warned that a work stoppage at Air Canada, which carries cargo in the belly hold of passenger planes and on six Boeing 767-300 freighters, would harm agricultural, manufacturing and medical supply chains that rely on air transport to move time-sensitive goods.

🤝 Disney, DirecTV broker satellite TV deal

WHAT: Walt Disney and DirecTV have shaken hands on a deal, bringing college football and other fan-favorite shows back to over 11 million satellite TV subscribers. The deal affords satellite TV subscribers greater choice and flexibility, the companies said in a joint statement.

WHY: The dispute resulted in DirecTV subscribers losing access to coveted programming, including ESPN's carriage of college football games and the U.S. Open tennis tournament. DirecTV subscribers also were unable to watch the ABC News-hosted U.S. presidential debate between Vice President Kamala Harris and Republican candidate Donald Trump on the ABC broadcast network.

✏️ 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