Your Evening Brief
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Hope you're hungry: the theme of today's newsletter is food. Popeye's has discovered that everyone wants late-night fried chicken. (We could have told them this years ago.) After pushing all kinds of new beverages, Coca-Cola's greatest source of growth is still good 'ol soda. Starbucks is learning to love the drive-thru. And those contrarians in Silicon Valley aren't eating at all. —Josh Petri
Stocks tumbled as industrial and tech companies sent indexes lower. The Dow fell for a fifth day, the longest losing streak since March 2017, and the 10-year Treasury yield pierced 3 percent for the first time in four years.
French President Emmanuel Macron proposed negotiating a new deal with Iran to limit its nuclear program in a bid to keep the U.S. on board. U.S. President Donald Trump signaled White House physician Ronny Jackson should consider withdrawing his nomination as Veterans Affairs secretary, and called North Korea's Kim Jon Un "very honorable."
U.S. homebuyers are more likely to purchase new digs than at any time since the 2008 crash. They don’t have a lot of choice: The supply of existing homes is at a record low.
Jeff Sessions won't recuse himself from the criminal probe of Trump’s personal lawyer, Michael Cohen, a switch from when the U.S. attorney general did step back in the broader special counsel inquiry into Russian interference with the 2016 election.
Fasting is taking off in Silicon Valley, with everyone from entrepreneurs to established executives touting the health and productivity benefits.
China’s car revolution is going global as automakers launch models in European and U.S. markets. Other Chinese companies are buying up parts suppliers, programming autonomous technology, making batteries for the world's EV fleet and corralling supplies of the metals that give those batteries life.
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