Morning Brew Daily - US-Iran Reach Tentative Peace Deal & The Knicks Are NBA Champs

Episode Date: June 15, 2026

#867: The war in Iran could be winding down as both countries announce a framework of a peace deal. President Trump celebrates his 80th birthday and commemorates America’s 250th birthday with a UFC cage-fight on the South Lawn of the White House. The White House slaps Anthropic with export controls over its latest AI model citing national security concerns. SpaceX’s historic IPO goes as well as it could, making Elon Musk the world’s first trillionaire. The New York Knicks end their 53-year drought by defeating the San Antonio Spurs to become the NBA’s 2026 champions. Finally, what you need to know in the week ahead.  To learn more visit https://www.servicenow.com Subscribe to Morning Brew Daily for more of the news you need to start your day. Share the show with a friend, and leave us a review on your favorite podcast app. Listen to Morning Brew Daily Here:⁠ ⁠⁠https://www.swap.fm/l/mbd-note⁠⁠⁠  Watch Morning Brew Daily Here:⁠ ⁠⁠https://www.youtube.com/@MorningBrewDailyShow⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

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Good morning, Brew Daily Show. I'm Neil Fryman. And I'm Toby Howell. Today, UFC enters the mainstream with a cage match at the White House. Then, it wasn't a dream. The New York Knicks really won an NBA championship. It's Monday, June 15th. Let's ride.

So far, the World Cup has given us amazing scenes of cross-cultural exchange, whether it's Scotland's tartan army taking over Boston with 6.30 a.m. bagpipes, or South Korea fans doing tequila shots with their new Mexican friends in Guadalajara. But nothing baffles the American mind quite like. Japan supporters who've become known for leaving their sections spotless after games. Yesterday, Japan fans brought their own plastic trash bags to the stadium in Dallas and were seen on video cleaning up their litter following a thrilling two-to-draw with the Netherlands. The coach of the 2022 Japan team told the Athletic,

this was just a normal thing to do. When you leave a place, you have to leave it cleaner than it was before. Japanese fans are undoubtedly the stars of the World Cup so far. Did you see this one fan encountering free chips and salsa for the first time? he wrote a post that's been viewed on X more than 16 million times. He says, my friend warn me, don't fill up on the chips, dude. Too late. I had accepted three baskets, honor demanded, each one be finished. By the time my actual food arrived, I was a ruined man. I was not hungry. I had been defeated by a courtesy. Just incredible stuff. Of course, Japan played in Dallas, too,

which means lots of interviews with Japanese fans fresh off of eating Texas barbecue. They're beaming as a recount tales of eating steak, of eating Terry Blacks, of eating burgers. So just everything that the World Cup should be is embodied by this sort of cross-cultural pollination. It also helps that Japan's team is awesome, too. We'll be rooting for them going forwards. And now a word from our sponsor, ServiceNow. Neil, a bunch of consultants in quarter-zips told me AI would make my life easier and

do all the parts of my job I hate. Instead, I have a bunch of suggestions on how to make it work. What gives? Sounds like you're not using Service Now's AI special. They get work done from start to finish. Cases get resolved, loops get closed, no extra work for you. So it'll do the parts of my job I'm best at and let me delegate the rest, just like consultants in the quarter zip said?

Sure, Toby. To put AI to work for people, visit servicenow.com. That's service now.com. The war in Iran appears to be winding down. Yesterday, the United States and Iran announced they agreed to a framework peace deal that extends their ceasefire for 60 days and sets up further negotiations around Iran's nuclear program. In a social media post, Trump said the straight of Hormuz would open up again on Friday when a formal signing will take place. The waterway has been closed for over 100 days, trapping one-fifth of the world's oil and natural gas from reaching markets and sending energy prices soaring.

Trump declared, ships of the world start your engines, let the oil flow. In exchange for the reopening of Hormuz, Iran expects the U.S. to unfreeze billions of dollars in cash it has abroad and ease punishing financial sanctions. Toby, economies all over the world are breathing a sigh of relief. Even if the ships do start their engines, though, it's not like the oil will flow. It's not as simple as flipping a switch. There is a huge logistical backlog and checklist that needs to happen before ships can move normally again. Remember, some of these ships have been sitting for so long they need maintenance. They have accumulated so many barnacles on the hold that it's not easy for them to even navigate the straight properly anymore.

and these shipping companies are not ready to declare victory by any stretch. They need to know if insurers will come back to providing coverage for them because they're still very nervous that this is a tenuous ceasefire because they've been burned before. And then also the issue is there are 600 ships now milling about in the Persian Gulf right now. The Strait of Hormuz is not big. It is a straight at its widest point. It's only 24 miles wide.

Shipping lanes themselves are just two miles wide in each direction. So there is a big traffic jam way to. to happen once the blockade does officially lifts. If all hundreds of ships try to go through at the same time, it's just going to be a nightmare. So yes, there's lots of optimism now because this is probably the closest we've come to the war finally winding down. But in reality, if you want to put your pessimism hat on, you got to figure out the logistics to get all these ships through this massive choke point. Yeah, checking the markets looks like oil is down 5% this morning. Stocks are up big. The NASDAQ is almost up 2%. S&P is up over 100%. Dow's up nearly 1%. So investors on Wall Street

thinks that this long, over 100-day war that's sent economic turmoil all over the globe is about to be ending. Trump is now on his way to the G7. It's a big week for big week for geopolitics in France where he'll meet with top leaders from the G7, like from France and the UK. And we'll look for more details on the actual X's and O's of this deal as they come out. the White House groundskeeper is in for a long morning today because last night a bunch of UFC fights went down on the south lawn. UFC Freedom 250 as it was dubbed brought an unprecedented spectacle to the nation's capital. More than $60 million went into putting on the event with UFC's parent company footing the bill and losing roughly 30 million in the process. It wasn't like

the public was clamoring for the fisticuffs. A Reuters Ipsos poll found that just 16% of respondents say holding UFC fights at the White House, House is appropriate, while nearly half say it's inappropriate. But Trump pushed back on critics by citing historical precedent. The White House has long been used for public events. Supporters argue, with Trump specifically naming Teddy Roosevelt and his participation in previous fights, as proof that the workplace of the president could be used for such an event. The event also commemorated Trump's 80th birthday and brought more bread and circuses to the larger months-long celebrations of America's 250th anniversary. Neil, it was a pretty surreal scene last night.

service members made up a good portion of the 4,000 ticketed guests who sat around the temporary arena. Around 80,000 people gathered for a Watts party outside the White House gates. Fighters walked through parts of the White House, including the Oval Office to get to the ring. And crypto and light beer sponsors were juxtaposed against the backdrop of one of the most famous buildings in the world. It was hard to wrap your head around. It was bizarre, but the fights were good. It wasn't the most prestigious card ever, but all seven of the fights on Sunday night ended with a knockout or a TKO.

This is huge for UFC and CO Dana White. 25 years ago, no one knew what UFC was outside of just a very niche group of hardcore fans. Now, this is a $20 billion company. They just signed a streaming deal with Paramount for $7.7 billion, and they just got top billing at the White House. They're fighting on the White House lawn in front of the entire nation,

who probably had to pay, many of whom probably paid for Paramount Plus just to watch this fight. So for Dana White, he said, he said, this is the most important event in the company's history. They showed out $60 million and he thinks that they're going to recoup that easily in publicity. Yeah, that was the big question. Why do it? Because if you did lose, you know, $30 million, as was reported, why go through the hassle of doing it? And it is what you were saying.

They want to sell subscriptions to Paramount. Plus, executives were saying that this had the same exposure opportunity as a Super Bowl, which may have been overstating their hands a little bit. But then I was kind of reading what some attention. attendees had to say, Kellynne Drury, a 27-year-old for Altoona, Pennsylvania, told the New York Post, he made the trip to be there despite not having tickets. He said it was worth the trip just to be here. It's like being outside the Super Bowl. So maybe that comparison does have some heft, at least for, you know, the most UFC craze fans out there.

And another person in attendance who was probably smiling from year to ear was David Ellison, who is the CEO of Paramount. On Friday, the DOJ said it would not block Paramount's takeover of Warner Brothers discovery, that huge $111 billion deal. Remember, Paramount and Netflix have been going back and forth, very political process. And on Friday, DOJ said, you guys are good. We don't see any competition concerns here. So now, David Ellison is 43 years old. He's going to be one of the biggest media moguls in the land right now if the deal goes through, which it looks like it probably will. There still has to be some approvals by overseas regulators. But the GEO Day said they can go through with it.

So David Ellison will now own two Hollywood movies studios, Warner Brothers and Paramount. Two streaming services, Paramount Plus and HBO, and then HBO. I don't even know what HBO is. HBO Max, or Max. And then also two major news networks, CNN and CBS. So this is also kind of a celebration for him. I think he had a champagne toast. Of course, the politeness of it was embodied by the fact that he was sitting on the White

House lawn because remember, David Ellison's father is Oracle co-founder Larry Ellison, who's a big Trump ally. Trump attended a Paramount hosted dinner during the review process for this merger. And of course, David Ellison was sitting ringside by Trump at his 80th birthday. So of course, that's the undertone to this entire merger getting approved. Plus, a lot of onlookers were saying it was an unusually specific endorsement of the merger because the takeaway from the DOJ was that this is, quote, not likely to harm competition or American consumers.

A lot of industry watchers, including former anti-touch chief Bill Bayer, said the agency's statement was unusually detailed for a decision to not sue. So many read it as an explicit endorsement, which is just not something the DOJ necessarily does. So fascinating undertones around this massive spectacle of the UFC event that, you know, this media mogul was minted right before our eyes as, you know, people were beating each other up on the South on. Moving on, as if the SpaceX IPO World Cup NBA Finals weren't enough to keep you occupied this weekend. There's been a wild development in the already wild world of AI. On Friday, the U.S. federal government banned foreign nationals, companies, governments, and individuals

from using Anthropics' latest and greatest AI models, Mythos 5, and Fable 5, over national security concerns. A stunned Anthropic then decided to shut off access to everyone for both of those tools, saying that was the only way it could comply with the rules. In fact, Anthropic mentioned it has many foreign-born employees who could no longer use the models they developed. In a statement, the company said, quote, we believe this is a misunderstanding and are working to restore access as soon as possible. Misunderstanding or not, the White House clearly has it out for Anthropic, which recently topped OpenAI as the most valuable AI startup in the world. The government already tussled with the company over Pentagon access, and this latest move is the biggest blow yet. Remember, Anthropic is racing against its rival Open AI to go public and wants to put on its best.

financial face for investors in the lead-up. But in one right hook to the jaw, the government just knocked out its flashy new models. As for the models, a quick reminder, in April, Anthropic launched Mythos, but didn't release it to the public saying it was too dangerous, too good at hacking for the public to get their hands on. Then, last week, it released Fable, which is basically mythos in a straitjacket to prevent the most damaging use cases. Toby, we've never seen this before. The U.S. government seems to be neutering one of its most powerful tech champions. You want to talk about irony? On Wednesday of last week, Anthropics CEO Dario Amade wrote this long essay, arguing that government should have the power to block the deployment of AI models based off of testing. And the U.S. was like, all right, bet, be careful what you wish for. You are blocked. And there also is this kind of Game of Thrones-esque subplot to this whole thing, because Amazon appears to have been very influential in this decision being handed it down. A lot of tech companies were reportedly. discussing these security concerns by so-called jailbreaking these mythos models. But a message from

Amazon CEO, Andy Jassy, was reported to be among the most influential, which is weird because Amazon is a major investor in Anthropic committing $25 a billion. So it's very similar to like tell Dario, I want them to know it was me vibes like that scene from Game of Thrones. So it's just fascinating that at the very upper echelon of the tech world, it seems like one of the biggest investors in Amazon kind of backstabbed it and got this model kind of in the bad graces of the U.S. government. My reading of the situation is that Amazon researchers tried to jailbreak this like many other tech companies did.

And Andy Jassy, the CEO of Amazon and Amazon were just like raising general concerns about this. I don't necessarily think that they were like, you need to cancel. You need to stop Anthropic in his tracks right now. This is way too dangerous. They were just like, hey, this is something that we found. And then the White House took and ran with it. And I think that because if you just look at what cybersecurity experts were saying about this particular jailbreak,

they're saying like, you know what? It's actually not that huge of a deal. This is not necessarily new to Fable or mythos. Other companies' AI tools can do this as well. So they were not so concerned with the particular jailbreaking that Amazon was doing. So I'm not sure Andy Jassy knew what he was getting into when he called up the White House. House and said, hey, I just want to let you know what we found. Yeah, it is certainly the subtext of Anthropic versus U.S. government being a massive, you know, feud is probably what's going on here.

It is just annoying if you're an AI company, too, because you just had the Trump administration seemingly signal that they were going to take a lighter approach to AI regulation. Remember, earlier this month, Trump signed that executive order to encourage companies to voluntarily let the government review AI models before release. But it seems. to stop short of giving the government the authority to block or approve releases. And yet, just a few weeks later, a few days later, they did exactly that for Anthropics and Mythos model. So you just want, if you are a frontier AI model company, just give me what the regulations actually are. We will try to follow them. But if you change them underneath our feet

every few days or so, that makes it annoying to try to, you know, win this technological race that is becoming the most important thing in the world right now. So Anthropics annoyed, maybe get worked out, but in the meantime, it's just kind of hung in this liminal state. It doesn't know if it can release this model to the public. I was on Anthropic. It has a little indication when you try to use a fable model saying, like, hey, it is currently under review by the U.S. government. So they have to figure it out if they want their most powerful models to actually make in the hands of researchers around the world. Both sides have no idea what they're doing with their messaging. Because the U.S. government, at the same time, is trying to restrict fable and mythos, is allowing

AI chips from Nvidia, high-end AI chips, to go to China, which could ostensibly build their own models. So they're trying to have it both ways. And then you have Anthropic as well, saying it would be good for the world to have the option for governments to slow or temporarily pause

frontier AI development. And then they complain when it actually happens to them. So we're in the wild west here of, you know, dangerous AI models. And people don't really know how both sides. I mean, some people have ideas. But at least Anthropic and the government are in a state of chaos right now

because both their policies and their messaging is incoherent. All right, we're going to take a quick break and come back with our winners on the weekend right after this. Neil, let me tell you something about bond markets. I'm all ears. They are confusing. Insightful as ever, but yes, capturing value in fixed income is not easy. Thankfully, Vanguard bonds are institutional quality. That means top-grade products across the board.

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That's join b-y-l-t.com slash MBD. Welcome to Winners of the Weekend, the segment where Toby and I picked two things that had an even better weekend than long-suffering Knicks fans. I won the pre-show cage match, so I get to go first. And my winner is SpaceX, which successfully pulled off the biggest IPO in history and made its founder Elon Musk the world's first trillionaire. Coming into Friday morning, Wall Street was anxious that a public listing of this unprecedented size, raising $75 billion, would break the financial machinery that keeps markets humming.

But things went as well as they possibly could. SpaceX began trading on the NASDAQ a little before noon at 11. percent above its IPO price of $135 a share. By the end of the day, it had risen 19 percent to close at a valuation of $2.1 trillion, making it the sixth largest public company. It is sweet, sweet vindication for Elon Musk, who in 2002 was mocked for starting an experimental space company with the proceeds of his PayPal sale. On Friday, Musk's net worth rose above $1 trillion to become the first human in history worth that much, and no one else is even close. Musk is now richer than the next four wealthiest people in the world combined.

SpaceX will ultimately be judged on whether Musk can execute his sci-fi vision to build AI data centers in orbit and establish a colony on Mars. But at least for one day, he can claim victory. So I was reading Bloomberg's Matt Levine and he was talking about the interesting way this IPO was priced. So normally when a company goes public, bankers spend a lot of time gathering orders and tweaking the IPO price based on the demand that they are seeing. But SpaceX skipped much of that. process. Elon basically said the IPO is $135 a share from the start. One hedge fund executive

told the financial times. Elon just came in and said what the price was. There was no price discovery. And he turned out to be pretty dead on. A 20% pop is exactly what you're looking for with an IPO because you're making money for investors without leaving too much money on the table. That's exactly what happened here. But also, this is what happens when a company stays private for 24 years like SpaceX did. SpaceX shares have been trading on. SpaceX shares have been trading on private marketplaces for that in basically the entirety of that time one marketplace hive had SpaceX trading it around $136 a share another had at a hundred and twenty eight dollars a share so in other words the IPO price landed exactly where the private markets were indicating that they

were so just a fascinating look into how IPO price discovery might go looking forward because traditionally the IPO was the moment where people are like what is this private thing actually worth. Now it looks like we know what it was worth far before it ever reaches the private market. So it might change how these pops happen on the first day of trading. Yeah, Open AI and Anthropic are about to go public in the fall. They're looking at what SpaceX did and saying, we want to do execute that playbook because it worked out so well, it's went smoother than anybody could have ever imagined. So Anthropic and Open AI, these other huge $1 trillion plus tech companies are looking at what SpaceX did and they're probably going to use that as a

model. It's going to be very interesting to see what SpaceX does on its third, fourth, fifth, 100th day of trading because obviously had a great day on Friday. It's up 6% so far this morning. We are not going to see that. We still debate this about Tesla, and it has been public for over a decade, and we're going to do this with SpaceX. We got the Bulls and the Bears. The Bears are out in full for CFRA research senior analyst Keith Snyder said on Friday, even after this good IPO, that the revenue growth that SpaceX would need to achieve to back up this $2 trillion dollar valuation is quote, borderline comical. And then you had Elon Musk on the other hand on X this weekend saying that they're going to reach, he expects to reach one trillion in annual revenue

by 2030, which is four years from now. People are like, maybe you should have put that in the IPO perspective, because that's kind of a material change that you're making. So it'll be interesting to see what SpaceX does going forward. Elon Musk is very rich and he could become even richer. He has this, he has this compensation package at SpaceX worth up to $1 trillion. but that is entirely contingent. He will see zero of it unless SpaceX becomes a $7.5 trillion company and there is a permanent human colony on Mars

with at least one million people. I'm done doubting anything we hear out of Elon at this point. I do feel like I need to read the exact quote from Elon where he says, I think SpaceX might be able to reach approximately $1 trillion in revenue by 2030. That approximately might be doing some heavy lifting if it comes in a little short of that lofty goal. My winner of the weekend is your New York Knicks.

53 years of pain and heartbreak came to an end in cathartic fashion on Saturday when the Knicks defeated the Spurs to win an NBA championship. It turned New York City into a scene from a movie. Hundreds of thousands of real fans and bandwagoners alike mingled in the streets singing Frank Sinatra, lighting off fireworks and climbing onto any elevated surface they could find. Every fire escape was laden down with delirious onlookers blasting music after many used their unique vantage points and projectors to host impromptu watch parties on the sides of buildings. The team itself evoked the spiritual resilience of the city of New York.

The Knicks led for just 23.6% of the series, the lowest time spent leading by a champion since 1971, according to Elias Sports Bureau. Their star player, Jalen Brunson, channeled that underdog nature. Drafted in the second round, he was allowed to walk by his previous team, The Mavericks, and had been continually overlooked as an undersized guard. But Brunson had a plan leaving over $100 million on the table in his last contract negotiation to give the Nix the roster flexibility to bring on a supporting cast that included two of his teammates in college at Villanova. The gamble by Brunson and on Brunson paid off and now they are champions.

Neil, even if you're not a Knicks fan, not a basketball fan, or even a sports fan, you can't deny that a half-century title drought ending in the biggest media market in the world is a fun storyline. Yeah, Dixon Five. They, they manifested it. It's the first, you know, so-called major professional sports championship in New York in 14 years. The Liberty have won in the WMBA and the New York City FC have won for the MLS Cup in 2021. But in terms of the big four sports, the Knicks are the first in 14 years. And as some have pointed out, they don't really share a fan base with another team. I'm sorry, Brooklyn Nets, but in New York, there are so many teams that the fan bases are generally split. There's the Jets and the Giants. There's the Yankees

and the Mets. And for one night and for one playoff run, all of the city came together. And it was just, it was just euphoria. I've never seen anything like it. I was having a pinch me moment because I could not believe that I was actually in the city when you see one of these massive celebrations break out. So I was watching it at a restaurant, but as soon as like the fire buzzer sounded, you just ran out into the streets because you knew everyone else was going to do the same. And it was sort of kind of like this zombie herd mentality where no one really knew where to go, except all of a sudden, everyone just started moving towards Madison Square Garden, because what are you supposed to do? You just move

towards the Mecca at this point. People were trying to climb stuff like I've never seen, again, I've never been part of kind of like this championship atmosphere. I didn't know that as soon as someone sees a light pole, they try to go up it. It absolutely happens. My fiance and I were wandering around. She got dup by a Zoran, Mom Donnie lookalike. That guy was a celebrity in the crowd, even though he was just a guy with a beard. Cars were actually loving it. That was something I didn't see as well. Taxi drivers are just completely mobbed by humanity,

but they're getting on top of their cars. They're honking their horns as well. West Village was nuts. It was just a very unique experience to live in a city when a championship like that happens. Yeah, the NBA, just bring it back to the NBA, that's eight different champions in a row. So they want parody, they have parity,

and there is a new villain in the world of the NBA. and that is Victor Wenbanyama, who's this young 7-5 phenom who was crowned the next, you know, the next legend of the NBA, and he kind of got whooped by the Knicks and didn't necessarily lose with a ton of grace. So I'm excited to see his first game back at Madison's Regarded next year. And then just bringing it back to the fans for one more minute. I saw so many videos of World Cup fans who are also in New York City just taking in the chaos as well.

A lot of the comments were like, you're getting New York pre-month. right now. Like, this doesn't happen every day, but imagine how many, you know, Brazil and Morocco played in the city. Imagine how many new New York Knicks fans were just minted by the very fact that you're just in the city when something like this happened. So very funny to just scroll through social media. That's all I did on Sunday is just scroll through social media. I was looking if I was in any of the videos because like I was on an elevated surface as well. So just a fun time to be in the city and just a fun storyline in general. Congrats to the Knicks. Congrats to Villanova because they just had these three players who played on the team the championship a few years ago, now have won

the championship in the NBA, and they also have the Pope. Pope went to Villanova. So not to bring Philadelphia back into this like I was due, but congrats to Villanova. Okay, it's Monday. So here's what you need to know to stay ahead in the week ahead. Wednesday brings the first Federal Reserve meeting of the Kevin Warsh era, who took over the chairman role from Jerome Powell last month. But a change in leadership probably won't mean a change in policy yet. The central bank is a lock to keep interest rates steady given the recent uptick in job creation and inflation. More intriguing will be the press conference Warsh delivers after the Fed releases its decision.

Warsh thinks central bank officials have been way too chatty and prefers to keep his cards closer to his chest. At his confirmation hearing, he said, I think truth-seeking is more important than repetition. If one has a press conference, one wants to deliver some important news. So maybe we'll get some important news. I have a slightly irrelevant footnote to add to the beginning of the Warsh era. It's officially chairman, Kevin Warsh, not chair. So CNBC writes that the Federal Reserve website now lists worse as chairman not chair reversing the past 12 years when his predecessors Janet Yellen and Jerome Powell both chose to be called chair. Before Yellen, the term chairman was used exclusively. And it actually bucks the trend of more gender neutral language catching on. A 2024 analysis by Bloomberg found that 185 of the S&P 500 companies used gender neutral language triple what it had been just four years earlier. So chair is out. Chairman is in, which is,

does not affect the monetary policy at all, but I thought it was a fun fact. It is interesting. In sports, if you've got an NBA or NHL finals hangover, fear not. Now you can shift your full attention to the World Cup. The tournament rolls on this week with group stage matches all over North America. And it's shocking to say this, but USA looks kind of really good. After their dazzling romp over Paraguay, the stars and stripes take on Australia, the socceroos, on Friday at 3 p.m. Eastern. And finally, golfs, US Open, the third major of the year, tees off on Thursday at the gorgeous imposing Shinnecock Hills on Long Island. Toby, I think I died and went to sports heaven.

I can't stop thinking about the U.S. as I was roaming the streets of New York after the next wins, I won't lie, they thought crept into my mind of what if the U.S. wins the World Cup? What would those celebrations be like? And I quickly squash that because you just can't get too far over your skis after one win, but it does show how good that first performance was that it crept into my mind at all. But yes, sports heaven. is an app description. I never want the World Cup to end. I never want this summer to end because it's just off to such a flying start. The summer blockbusters are coming fast and furious, but there's actually not another one of those. On Friday, Pixar's Toy Story 5 hits theaters with a song

from Taylor Swift, early rave reviews, and massive expectations of a $175 million opening weekend. All the reviews will drop tomorrow, but early signals indicate they're going to be so positive that it could belong in the Oscar conversation. It's a great premise. It's about the toys fighting against their child's new obsession, which is a tablet named Lilypad. I think it will do well, but also somehow obsession, you know, that horror movie is going to outgross it and it's like 16th week because that's just what it does. Like obsession is still in the box office. I don't understand how it's happening, but very different premises are right there, but I do

think that Toy Story is going to be great. Finally, Friday is Juneteenth, which commemorates the effective end to slavery in the United States. It became a federal holiday in 2021, which means for many of you, it's going to be a short week leading into a three-day summer weekend. We will be off as well, but we will have a special episode coming your way. Okay, that is all the time we have. Thanks for starting your morning with us and have a wonderful start to the week. To share your thoughts on the episode or anything else, send an email to Morning Brew Daily at MorningBrew.com or DM us on Instagram at MB Daily show. Let's roll the credits. Emily Milliron is our supervising producer. Raymond Lou is our senior

producer. Our producer is Olivia Graham and our associate producer is Olivia Lake. Technical direction by Nina Miller. Hair and makeup never cleans up after themselves. Hey y'all's Kelly Clarkson with Wayfair. Ever order furniture online and wonder what if? Like, what if it doesn't hold up? That sofa was four days old. You should have ordered from Wayfair. With Wayfair, there's no what if. Just style you love and quality you can trust.

Visit Wayfair.ca. Wayfair, every style, every home. Devin Emery is our president and our shows are production of Morning Brew. Great show, Daniel. Let's run it back tomorrow.