Daily Brew // Morning Brew // Update
TikTok’s fate is in Trump's hands...

Good morning. The good news: It’s the Saturday of a three-day weekend and there’s a juicy slate of playoff football. The bad news: It’s going to be freezing outside. A polar vortex will hit a big chunk of the US starting this weekend, sending temperatures plummeting to below zero for over 120 million people, which is more than a third of the US population. It’s also sending Donald Trump’s presidential inauguration inside. With temps in Washington, DC, expected to be in the low-20s on Monday (the coldest Inauguration Day in 40 years), Trump announced his inauguration ceremony will take place in the Capitol Rotunda.

To help keep you entertained while you hunker down, we’ve got an exciting Sunday special edition hitting your inboxes tomorrow morning. Stay warm!

—Molly Liebergall, Matty Merritt, Cassandra Cassidy, Abby Rubenstein, Neal Freyman

MARKETS

Nasdaq

19,630.20

S&P

5,996.66

Dow

43,487.83

10-Year

4.609%

Bitcoin

$104,629.41

Robinhood

$48.15

Data is provided by

*Stock data as of market close, cryptocurrency data as of 6:00pm ET. Here's what these numbers mean.

  • Markets: Traders got to start the long weekend in a good mood as stocks popped yesterday, with the S&P 500 and the Dow both clinching their best week since the presidential election in November. Investors are looking forward to the incoming administration’s policies, stocks linked to cryptocurrencies, like Robinhood and Coinbase, ticked higher on the news that Donald Trump might issue an order making crypto a national priority.
 

SOCIAL MEDIA

Person protests TikTok ban

Andrew Harnik/Getty Images

Today and today only, there is no such thing as scrolling for way too long. Yesterday, the Supreme Court rejected TikTok’s legal challenge to its impending banishment from US phone screens. That means you might not be able to access your favorite app as soon as tomorrow—temporarily, at least.

The decision was unanimous: The bipartisan TikTok ban that President Joe Biden signed into law in April is constitutional, SCOTUS ruled, as expected. The court found that “well-supported” national-security concerns over alleged Chinese data collection via TikTok’s owner ByteDance take priority over the free speech rights of the app’s 170 million American users.

But your FYP could still be saved

The Biden administration has signaled that it won’t actually enforce the TikTok ban when it officially kicks in on Jan. 19. The baton will pass to President-elect Trump on Jan. 20, and he’s done a 180 on TikTok since his first term, when he initiated the push for a ban.

Trump wants to keep TikTok accessible in the US…somehow. He said he had a “good” call with Chinese President Xi Jinping about TikTok yesterday. Once in office, Trump could…

  • Issue an executive order—though legal experts say it might not hold up in court.
  • Instruct his pick for attorney general, Pam Bondi, to ignore the ban. She avoided answering whether she’d enforce it at her Senate confirmation hearing on Wednesday.

As for a potential sale…TikTok has denied reports that Chinese officials are considering selling the app to Elon Musk. Without a deal on the table, TikTok intends to keep its offices open, but plans to shut down services in the US, which would also remove liability risks for app distributors Apple and Google. To keep TikTok on our screens, Trump might need to convince Big Tech that his administration won’t collect the enormous penalties that app stores could legally get hit with if they keep carrying TikTok.—ML

Together With Apple TV+

WORLD

Israel's Security Cabinet meeting to approve the Gaza ceasefire deal

Koby Gideon (GPO)/Handout/Anadolu via Getty Images

Gaza ceasefire on track to start tomorrow. Yesterday, Israel’s cabinet approved a deal with Hamas for a ceasefire in Gaza and a return of hostages, in the wake of claims by Prime Minister Benjamin Netanyahu that Hamas had demanded last-minute changes to the deal and resistance to it from the right flank of Netanyahu’s government. The approval clears the way for the first phase of the three-phase agreement designed to end the 15-month war. The first phase, slated to begin tomorrow, calls for a release of hostages by Hamas and Palestinian prisoners by Israel, as well as humanitarian aid being allowed into Gaza.