Morning Brew Daily Political Ad Spend Hits $1B & Berkshire Hathaway Out on Apple?
Nov 4, 2024
Candidates are pulling out all the stops with political ad spending soaring past $1 billion ahead of Election Day. Warren Buffett continues to shake things up by selling more Apple shares, increasing Berkshire Hathaway's cash reserves. TGI Friday’s faces bankruptcy amidst the changing casual dining landscape. Meanwhile, innovation in running shoes makes waves, featuring a cutting-edge spray-on sneaker. Get ready for a week of significant economic shifts and intriguing stock market trends.
AI Snips
Chapters
Transcript
Episode notes
Election Stakes
- The 2024 election will determine control of the U.S. legislative chambers, impacting economic policy.
- The control of Congress affects the next president's ability to implement their agenda.
Tax Code Power
- Congress holds the power to change the U.S. tax code, influencing tax policies significantly.
- The $2.3 trillion gap between candidates' tax plans underscores the importance of Congressional control.
Ad Spending Surge
- Political ad spending reached nearly $1 billion in just one week leading up to the election.
- This is one-tenth of the total $10 billion spent on political ads since the beginning of 2023.