Newsletter Mar 25, 2021

Congress held hearings on two key issues Wednesday -- equal pay for women, and fairness in social media. But will either one actually happen?

3 Things

Equality afoot?: Soccer star and U.S. Women's National Team captain Megan Rapinoe is best known for scoring goals. However, on Wednesday she instead set some lofty goals for lawmakers -- end the gender pay gap and support workplace equality.
Rapinoe, who led the USWNT to the most successful run in women's soccer history, met with President Joe Biden and spoke to members of Congress about the disparity in pay and conditions between the U.S. men's and women's teams. There's also a disparity in pay based on results. The USWNT has won four World Cups and gold medals while its male counterparts haven't sniffed a championship.
"Despite those wins, I've been devalued, disrespected and dismissed because I'm a woman," Rapinoe testified. "Despite all the wins, I'm still paid less than men who do the same job that I do."
The USWNT reached a deal with governing body US Soccer in December concerning equal working conditions, but a lawsuit over equal pay claims remains outstanding. Rapinoe and her teammates have been outspoken critics of the way US Soccer pays its players, and they hope their case is a win for all women in the workplace.
FIND OUT THE FITTING REASON EQUAL PAY DAY IS MARCH 24

Communication breakdown: Rapinoe wasn't the only big name making an appeal to Congress. So were top representatives of all the tech companies currently under fire for anti-trust policies, privacy issues.and Wednesday's hot topic -- the spread of misinformation.
The CEOs of Facebook, Google, Twitter and other platforms met virtually with lawmakers to defend their practices in the months leading up to the 2020 election and the fallout over the results. The topics covered everything from false voter fraud claims, pandemic misinformation, and the chatter leading up to the Capitol riots.
Facebook's Mark Zuckerberg, Twitter's Jack Dorsey and Google's Sundar Pichai were among those facing some hardball questions from lawmakers on both sides of the aisle: "Whether it be falsehoods about the Covid-19 vaccine or debunked claims of election fraud, these online platforms have allowed misinformation to spread, intensifying national crises with real-life, grim consequences for public health and safety," a joint congressional statement charged.
SEE WHAT LAWMAKERS ARE CALLING ON BIG TECH TO DO

Blood money: Looking for a sure-fire way to get rich during the pandemic? Gun sales are soaring in the aftermath of two mass shootings in six days, so it may help if you don't have a conscience.
Business is literally booming following a tragic week for gun violence in the U.S. Eighteen people were killed and dozens more wounded in mass shootings in Atlanta and Colorado. The rising death toll is raising calls for gun control legislation designed to end the trend.
Biden came out in support of common sense gun laws that could have prevented both tragedies. Both shooters bought their assault weapons on the same day and quickly acted to use them, and both suspects could have been stopped with a basic background check.
All the talk of gun control has predictably sent the demand for firearms through the roof. "When you hear more calls for firearm restrictions, we have observed gun sale increases primarily from people buying before they're not able to," one industry analyst said.
FIND OUT WHY FIREARMS ARE SELLING LIKE HOT CAKES

Markets

DJIA	32,420.06	-0.01%
S&P 500	3,889.14	-0.55%
Nasdaq Composite	12,961.89	-2.01%
Japan: Nikkei 225	28,700.55	1.04%
UK: FTSE 100	6,712.89	0.20%
Crude Oil Futures	60.12	-1.73%
Gold Futures	1,734.00	0.05%
Yen	108.92	0.18%
Euro	1.18	0.07%
* As of market close

Market immunity

A deadly pandemic, business closures, massive unemployment and a soaring stock market? In the lyrics of the memorable "Sesame Street" song, "one of these things is not like the others" -- in this case, the latter.

Amid one of the darkest periods in U.S. history, the stock markets are experiencing one of their brightest years ever. Over the past 12 months, beginning with the markets hitting pandemic lows on March 23, 2020 with a 30% drop, the all three U.S. indices are at or near all-time record highs.

The driving factors behind the logic-defying trend, according to analyst, are threefold. The nearly $4 trillion in stimulus funds infused investors with some much-needed confidence, and the rapid development and efficacy of the COVID vaccines also inspired high hopes for a quick recovery.

Fueling the pandemic boom has been the impact of technology on the very nature of the pandemic. Work, shop and play from home has forever altered the economic landscape, and tech giants like Amazon, Apple and Google have reaped the dividends from investors and consumers alike.

WHAT'S FUELING THE MARKET BOOM DURING THE PANDEMIC?

Good Intel

A massive shift in the manufacture of microchips occurred this week when Intel announced it will invest $20 billion in building two new plants in Arizona as part of a plan to ramp up production in the U.S. and Europe.

Intel CEO Pat Gelsinger revealed the American company's strategy as it faces mounting pressure to fend off fierce competition. A global chip shortage has countries and companies looking to reduce reliance on plants in Asia for semiconductors, which are used in high-tech products.

The dependence on chips made abroad poses a national security risk, and bringing the operations to the U.S. also means more high-end jobs for Americans, according to said Secretary of Commerce Gina Raimondo.

"Intel's investment will help to preserve U.S. technology innovation and leadership, strengthen US economic and national security, and protect and grow thousands of high-tech, high-wage American jobs," she said.

SEE WHAT INTEL'S MOVE WILL MEAN FOR U.S. JOBS, SECURITY

Cereal killer

In a year that has already seen record-setting stock prices and soaring cryptocurrency rates, the best investment you could have made can be found on your local grocer's breakfast aisle -- Grape-Nuts Cereal.

It seems some folks just can't start their day without Post's crunchy cereal, so much so that they are willing to shell out big bucks for their Grape-Nuts. The classic brand suffered a major supply shortage in late 2020 and early 2021, sending the cost of a box of Grape-Nuts through the roof.

The top reported price during the Great Grape-Nuts Crisis was $110 for a 64-ounce box, which normally retails for $6.49, and that was at a Walmart. That's an increase of over 1,600% -- far better than an investor would have fared with Dogecoin or GameStop. But the only way we're buying a box of cereal at that price is if the secret toy surprise is a $100 bill

Post is trying to make it right by offering those who paid too much for their Grape-Nuts a refund. Customers can submit their receipts (one per household) and receive a check for the amount they overpaid up to $115.

FIND OUT HOW TO GET A REFUND ON YOUR GRAPE-NUTS