Saturday, February 1, 2025

Good Morning! On this day in 1893, America's first film production studio, Thomas Edison's "Black Maria," opened in West Orange, New Jersey.

Tomorrow, we get our yearly winter prediction from the world-famous groundhog, Punxsutawney Phil! He welcomed two pups last year, Sunny and Shadow, and you can see them here.

Today's sponsor is Pacaso, offering an investment opportunity in the real estate market.

FAA Says Reagan Control Tower Understaffed

Recovery efforts on the Potomac River continued Friday, with crews retrieving over 40 bodies from American Airlines Flight 5342, along with cockpit voice and flight data recorders. The crash was the deadliest aviation disaster in the U.S. since 2001.

A preliminary FAA report revealed that the control tower at Ronald Reagan National Airport was understaffed. One air traffic controller was allegedly handling two positions when a jetliner collided with an Army helicopter, killing 67 people Wednesday night.

The allegation of an insufficient number of air traffic controllers arises as the FAA faces a class-action lawsuit claiming it denied 1,000 prospective air traffic controllers jobs due to diversity hiring targets.

In May 2024, then President Biden signed a bill to reauthorize the FAA, which added five additional slots to Reagan Airport's daily schedule, increasing traffic on the busiest runway in the country.

White House Set to Impose Tariffs

The White House confirmed on Friday that it will impose tariffs on trading partners, implementing as much as 25% tariffs on Mexico and Canada, as well as a 10% duty on China, starting this weekend.

President Trump also announced that new tariffs would target semiconductor chips, pharmaceuticals, steel, aluminum, oil, and gas. Starting Saturday, Canadian crude oil imports will face a 10% tariff, with other Canadian goods subject to a 25% tariff. More tariffs will be introduced in the coming weeks.

Trump stated that any new tariffs would be added on top of existing tariffs and that the time for negotiation had passed.

The Dow dropped more than 300 points, while the Nasdaq fell by 0.28% following news of the tariffs.

List: Ancient Treasures Recently Discovered

A list of incredible archaeological treasures recently discovered by scientists and researchers includes lost desert cities, sea dragons, artwork, and ancient footprints.

Recent archaeological discoveries in the Middle East include a missing section of Jerusalem's outer wall, a 3,000-year-old city called the Rise of Aten near Luxor, and mummies with golden tongues found in Alexandria.

In Europe, the remains of an ichthyosaur, often referred to as a sea dragon, were discovered in England. Additionally, in Germany's "Unicorn Cave," scientists found Neanderthal sketches, which are among the oldest works of art ever identified, as well as the intact skull of a cave bear.

The U.S. also made significant discoveries, including the oldest human footprints in North America at White Sands National Park in New Mexico and well-preserved dinosaur tracks in Texas’ Dinosaur Valley State Park. See the full list of discoveries here.

➤ The Department of Education announced on Friday that it is overturning former President Biden’s 2024 Title IX changes and returning to rules from 2020, established during President Trump’s first administration. (More)

➤ A federal appeals court on Thursday struck down a 1968 ban on handgun sales to Americans aged 18-20, ruling the law violated the Second Amendment. (More)

➤ NASA banned the use of China’s DeepSeek AI technology Friday, informing employees in a memo that access to the platform has been blocked over national security and privacy concerns. (More)

➤ Journalist Chuck Todd on Friday announced he is leaving NBC News after nearly two decades, stating his desire to combat the rising influence of social media on news content. (More)

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The Innovators Flipping a $1.3T Market

It didn’t take long for Spencer Rascoff and Austin Allison to see the $1.3T vacation home market was full of untapped potential.

So after growing Zillow to a $16B valuation, these real estate disruptors created Pacaso to introduce co-ownership.

And by handing keys to 1,500+ happy homeowners, Pacaso’s earned $100M+ in gross profits. No wonder top firms like SoftBank and Maveron invested.

Now, they’re focused on international expansion – boasting record-breaking sales in Paris and new properties in Cabo and London. Pacaso’s new UK lending partnership proves they’re preparing to open new doors in additional markets.

You can join them as an investor – but with this expansion underway, the current share price won’t last long. Invest at $2.70/share by 2/27.

➤ Detroit Lions quarterback Jared Goff scored a Pro Bowl-best 44 points in the fan-favorite “Passing the Test” precision passing event on Thursday. (Watch video)

➤ NBA legend Dwayne Wade revealed on Thursday that he has been battling kidney cancer since the end of 2023. (More)

➤ The NBA announced the reserve players for their 2025 All-Star festivities. (See players)

➤ The Toronto Blue Jays have signed future Hall of Fame starting pitcher Max Scherzer to a one-year contract worth $15.5 million. (More)

Today's White House section is brought to you by:

➤ Outgoing DNC Chair Jaime Harrison reflected on the 2024 election loss, stating that Democrats should have stuck with Joe Biden rather than limiting Kamala Harris's campaign timeline. (More)

➤ Federal employees at multiple agencies were ordered to remove pronouns from their email signatures by Friday under executive orders signed by President Trump on his first day in office. (More)

➤ Paramount chairwoman Shari Redstone has agreed to discuss settling President Trump’s $10 billion lawsuit over a controversial 60 Minutes interview with Kamala Harris, sparking backlash from the network’s news division. (More)

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Daily Market Report 01/31/2025

▼	NASDAQ National Association of Securities Dealers Automated Quotations	19,627.44	-0.28%
▼	SPX S&P 500	6,040.53	-0.50%
▼	DJI Dow Jones Industrial Average	44,544.66	-0.75%
▼	BTC Bitcoin	$102,201.38	-2.42%
▲	GOLD Per Ounce	$2,831.50	0.30%

Gold and Bitcoin are traded 24 hours a day.

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How to unlock a $1.3t opportunity

A new trend in real estate is making the most expensive properties obtainable. It’s called co-ownership, and it’s revolutionizing the $1.3T vacation home market.

The company leading the trend? Pacaso. Created by the founder of Zillow, Pacaso turns underutilized luxury properties into fully-managed assets and makes them accessible to the broadest possible market.

The result? Nearly $1b in transactions, 1,500+ happy homeowners, and over $100m in gross profits for Pacaso.

With recent additions in Paris, Cabo, and London, and 38% YOY profit increase in H1 2024, Pacaso is scaling fast to meet surging global demand. No wonder they’re backed by leading investors like SoftBank and Maveron.

Join them as a Pacaso investor today for just $2.70/share.

This is a paid advertisement for Pacaso’s Regulation A offering. Please read the offering circular at invest.pacaso.com.

➤ Israel will take part in the fourth round of the prisoners-for-hostages exchange with Hamas today. Three high-profile captives will be returned to Israel and 90 prisoners will be released to Palestinian authorities. (More)

➤ Iran has disguised elements of its nuclear program within its space program, using launch sites to develop technologies relevant to nuclear weapon advancement, sources say. (More)

➤ Ukrainian military officials reported no sightings of North Korean troops in the Kursk region for weeks, suspecting they were pulled from the front lines after suffering heavy casualties. (More)

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➤ ZQuiet is a ready-to-use, anti-snoring mouthpiece that provides immediate relief by gently moving your jaw forward. With ZQuiet, you can finally stop snoring at the source — for good! (See It Here)

➤ A 74-year-old Japanese man remained trapped Friday after his truck fell into a sinkhole near Tokyo, which expanded to 40 meters wide and 15 meters deep over four days. (See Sinkhole)

➤ New Zealand legally recognized Mount Taranaki as a person, granting the dormant volcano the same rights and responsibilities as a human, acknowledging its status as an ancestor to the Māori people. (See Taranaki)

➤ Volunteers for the Food Bank of Central New York scrambled to process 40,000 pounds of coho salmon from a closing fish farm, aiming to provide 26,000 meals across 243 food pantries. (See Fish)

➤ India has increased its tiger population to over 3,600, now accounting for 75% of the world's tigers, after tackling poaching, habitat loss, and human-wildlife conflict issues. (See Tigers)

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Do you watch TV with the subtitles on?

Yesterday's Results:

Do you still count birthdays?

Yes: 73%
No: 10%
I've earned every year: 17%

Daily Quote

"I think during the fire he pretty much stayed in there. I think he was scared."

— Samy Arbid, on finding a 525-pound bear living under his Altadena, California, home.