Daily Brew // Morning Brew // Update

MARKETS

Nasdaq

21,590.63

+3.83%

S&P

6,528.52

+2.91%

Dow

46,341.51

+2.49%

10-Year

4.311%

-3.0 bps

Bitcoin

$68,034.85

+2.29%

CoreWeave

$77.47

+12.03%

Data is provided by

*Stock data as of market close, cryptocurrency data as of 4:00pm ET. Here's what these numbers mean.

Markets: Stocks soared yesterday on hopes that the Iran war will soon end, after President Trump reportedly said he’s open to ending the US operation without a full opening of the Strait of Hormuz. Meanwhile, CoreWeave spiked after it secured a big loan to expand its AI infrastructure.

BABE, GET THE BIKES

Gas hits $4 a gallon

Andrew Harnik/Getty Images

Turn up Harry Styles’s “As it Was,” and scroll through the online conspiracy that Queen Elizabeth was reborn as Trisha Paytas’s baby, because it’s 2022 again. The average price of gas in the US reached $4.02 yesterday, surpassing $4 per gallon for the first time in four years, according to AAA.

Since the US and Israel launched attacks on Iran about a month ago, energy supply chains have buckled. US gas prices have jumped 35% from just under $3 before the war started on Feb. 28.

States along the West Coast saw the biggest increases (California hit $5.91 per gallon yesterday). Consumers in states that haven’t felt the crunch quite as hard could still be faced with rising fertilizer and food costs: Every 10% rise in fuel prices could push food costs up by 2-3%, according to the New York Times.

Everyone is scrambling to soften the blow:

The Trump administration promised to release 172 million barrels of oil from the country’s strategic reserves, removed sanctions on Russian oil, and nixed a maritime law to help ease supply chains.
The EPA also loosened regulations that require a cleaner blend of summertime gasoline.
Delivery and ride-share companies are increasing gas rebates for drivers.
Many consumers are also reconsidering summer travel plans since gassing up the motor home might max out the Visa.

Gas it up. The rapid climb at the pump is a reminder of a war that a majority of Americans already feel has gone too far. Americans typically blame the president for soaring gas prices, but leaders rarely have control of those costs, especially in cases involving natural disasters, like a hurricane hitting the oil-rich Gulf of Mexico. Experts trace this current rise in prices, however, directly to the conflict in Iran, which President Trump argued is “a small price to pay for U.S.A., and World, Safety and Peace.”—MM

Presented By The Points Guy

Credit card rewards could be going…going…gone

Credit card rewards (like travel points and cash back) could soon be reduced or eliminated. If you just shuddered at the thought, here’s the breakdown.

The Points Guy explains that the Durbin-Marshall bill (also known as the Credit Card Competition Act) aims to cut credit card cash back and travel rewards programs that Americans know and value. It could also significantly hurt tourism and force transactions onto unproven networks, weakening fraud protections and raising costs for businesses and consumers.

For example, only a 10% decrease in rewards travel could mean 1.5 million fewer trips annually for Americans and $4.3 billion in lost economic activity for local travel businesses.

Learn more about the bill and what you can do about it.

WORLD

Tour de headlines

Adobe Stock

McCormick bought Unilever’s food business for $45 billion. In the biggest news to hit the condiment industry since people realized mayo is a better crisper than butter for grilled cheese, spice giant McCormick—owner of Old Bay, French’s, and Frank’s RedHot—acquired Unilever’s food division in a deal worth ~$45 billion, the companies announced yesterday. About 70% of Unilever’s food sales come from mayo brand Hellmann’s and soup company Knorr, which will become part of McCormick’s portfolio, if approved by regulators. Unilever’s shedding of its food business comes as packaged food companies slim down in response to inflation and changing consumer habits.

SCOTUS ruled against Colorado’s conversion therapy ban. In an 8–1 decision, the Supreme Court sided with a Christian counselor, who argued that Colorado’s ban on the controversial talk therapy for LGBTQ+ kids violates the First Amendment. The high court did not technically strike down Colorado’s ban, but said it raises free speech concerns and sent the case back down to a lower court (where it’s expected to be nullified). Colorado Attorney General Phil Weiser called the decision a “setback” for efforts to protect children from “harmful and discredited mental health practices.” More than 20 other states have similar laws.

Whoop tripled its valuation to $10 billion. Whoop, there it is. The fitness-tracking wearable company endorsed by LeBron James, Michael Phelps, and other world-class athletes raised $575 million in its latest funding round, nearly tripling its most recent valuation of $3.6 billion. Among the new investors was the medical device giant Abbott, which Whoop CEO Will Ahmed said is part of the company’s broader push into health. According to Whoop, bookings increased 103% last year, and the company now has more than 2.5 million members.—AE

AGONY OF THE FEET

For sale: Allbirds shoes, never worn

Data Source: Yahoo Finance, Photos: Adobe Stock, Designer: Jessica Russo

Allbirds, the trendy wool shoe company that made headlines in 2021 with a $4 billion valuation on its first day of trading, agreed to sell all of its assets for $39 million yesterday to American Exchange Group, the owner of the Ed Hardy brand.

Popular among ~~people who call themselves disruptors on LinkedIn~~ the Silicon Valley crowd, Allbirds embarked on a precipitous fall not long after an IPO that raised $348 million, enabling the company to grow too big, too fast:

The eco-friendly shoemaker expanded to 60 brick-and-mortar stores globally by the end of 2023. Now, it will shutter all but two outlets and two retail spots.
It also introduced new products that didn’t sell. That included leggings, which the company discovered were see-through after ordering tens of thousands in 2022. They were discontinued a year later.

Allbirds ended every year as a public company in the red, per FactSet. Sales fell from a high of $297.8 million in 2022 to $189.8 million last year.

Wild ride: After word of the sale broke, the share price jumped 36% after hours on Monday, then plummeted as much as 16% during mid-day trading yesterday before finishing slightly up at close.

Next step: Allbirds will seek shareholder approval for the sale at the end of this month. The deal is expected to close in Q2.—DL

Together With JobsOhio

Ohio keeps disrupting industries. From unparalleled cost advantages to unrivaled business-friendliness and an unmatched quality of life, Ohio is building what’s next. Even their top-tier talent and central proximity are unquestioned. There’s a reason cutting-edge businesses are getting ahead in Ohio. Will yours? Your move.

TO THE MOON AND BACK

Humans moon-bound for the first time since 1972

Niv Bavarsky

Finally, “to the moon” talk has nothing to do with a meme coin. Weather permitting, NASA is sending a crew of four astronauts today to circle the moon in a historic launch that will see the first woman, person of color, and non-US citizen leave low Earth orbit.

Three Americans and one Canadian will orbit Earth’s little neighbor before returning home. The 10-day trip is a key step in NASA’s $100 billion Artemis program to ultimately put humans back on the lunar surface, which has been plagued by years of contractor woes.

Testing, testing

Today’s $4 billion liftoff is a major test for the tech involved, like Boeing’s Space Launch System (SLS) rocket and Lockheed Martin’s Orion capsule. Originally planned for February, it was scuttled by SLS malfunctions. Meanwhile, SpaceX is trying to shake off deadline concerns about its lunar lander for upcoming missions, as Jeff Bezos’s Blue Origin races to develop a competing spacecraft.

If all goes well…

NASA aims to test docking Orion to either SpaceX’s or Blue Origin’s lander in orbit next year, and then have humans leaving jumbo shoemarks on the moon as early as 2028.
Eventually, the space agency aspires to establish a permanent moon base, which it sees as a launch pad for Mars exploration amid a space race with China.

Tune in…to watch the sendoff.—SK

STAT

Prime number: Apple turns 50

Bob Riha, Jr./Getty Images

Apple is now old enough for doctors to recommend it get the shingles vaccine. The iPhone maker celebrates its 50th anniversary today—an impressive milestone for a company that was founded in a garage and had to survive the flop of Argylle.

Here’s a snapshot of The House That Jobs Built at 50:

Market cap: $3.7 trillion
Active devices: 2.5 billion
Full-time employees: 166,000
Your iPhone battery: somehow already down to 37%

One more thing...Investing GOAT Warren Buffett gave Apple some birthday props yesterday when he admitted that he sold his stake in the company too early.—AE

Together With REI

Gear up, look good. REI Co-op’s Trailmade line is built for hikers who want trail-ready performance and fits they’d actually wear off the mountain. Think barrel pants, relaxed silhouettes, and affordable new gear like hydration packs, a crossbody sling, and updated trekking poles. Your next adventure starts here.

NEWS

What else is brewing

President Trump signed an executive order last night designed to crack down on mail-in voting ahead of the November midterm elections, which legal experts say the president does not have the authority to do.
Construction on President Trump’s $400 million ballroom must stop until it is approved by Congress, a federal judge ruled.
Job openings in the US fell to a six-year low as hiring slowed, per government data.
Oracle began laying off thousands of employees yesterday as it spends billions on building out AI data centers.
A federal judge blocked the Trump administration from using an executive order to pull funding for NPR and PBS.
Delta is partnering with Amazon Leo to offer high-speed satellite internet on its flights, starting in 2028.
Tiger Woods had opioid pills in his pocket when he was arrested for DUI last week in Florida, according to a police report released yesterday. In a statement, Woods said that he’s “stepping away for a period of time to seek treatment and focus on my health.”
Passover begins tonight at sundown and ends on April 9. Chag Sameach.

RECS

Send: Cool postcards to show someone you’re thinking of them in a post-punk type of way.**

Update: Google now lets you change your Gmail name without needing to create a new account.

Assess: A free pitch trainer that tells you how good (or bad) you are at singing.

Watch: The trailer for Backrooms, based on the popular internet legend of the same name.

Awaken arousal: Do that in more ways than one with this award-winning, FDA-registered bendable vibrator. It’s doctor-recommended and naturally intensifies arousal + lubrication. Try it and save 50%.*

^{*A message from our sponsor. **This is a product recommendation from our writers. When you buy through this link, Morning Brew may earn a commission.}

PLAY

Word Search: In today’s aptly themed Word Search, you need to find the fool—no kidding. Play it here.

General trivia

Here are five general knowledge trivia questions with absolutely no connection between them:

Which US president is on the $100 bill?
Bangui is the capital of which central African republic?
How many pairs of wings do fleas have?
Which MLB team won the 1994 World Series?
What is Paul McCartney’s middle name?

SHARE THE BREW

Share the Brew, watch your referral count climb, and unlock brag-worthy swag.

Your friends get smarter. You get rewarded. Win-win.

Your referral count: 0

Click to Share

Or copy & paste your referral link to others:
morningbrew.com/r/?kid=71df84e8

ANSWER

Sorry, these were all trick questions. We had to today.

There isn’t a president on the $100 bill—it’s Benjamin Franklin.
Central African Republic.
None. Fleas don’t have wings.
There was no World Series in 1994 due to a players’ strike.
It’s Paul. His full name is James Paul McCartney.

Word of the Day

Today’s Word of the Day is: nullified, meaning “made legally null and void, invalidated.” Thanks to Nick from Miami, FL, for the suggestion. Submit another Word of the Day here.

ADVERTISE // CAREERS // SHOP // FAQ

Update your email preferences or unsubscribe .
View our privacy policy .

Copyright © 2026 Morning Brew Inc. All rights reserved.
22 W 19th St, 4th Floor, New York, NY 10011

☕ Babe, get the bikes