Morning Brew Daily $350K to Flee the Middle East? & Target Has a Plan to Win You Back
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Mar 4, 2026 Markets convulse after U.S.-Iran strikes with oil and luxury stocks wobbling. Wealthy travelers scramble to escape the Middle East with private jets and closed airports. A major retailer unveils a $6B plan to win back families through store revamps and a new strategy. Soccer’s big tournament draws security concerns. Fast-food brands trade viral jabs over a CEO’s awkward bite and marketing reactions.
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Dollar Strengthens Amid Energy-Driven Inflation Fears
- In this crisis the US dollar strengthened because traders fear renewed inflation and the US is a net energy exporter.
- Bloomberg's dollar spot index rallied ~1.5% while other safe havens fell.
Wealthy Fleeing Middle East Pay Astronomical Prices
- Wealthy travelers are scrambling to flee the Middle East as private jet and diversion costs skyrocket.
- Private charters jumped to roughly three times normal; a Riyadh-to-Europe flight can cost about $350,000.
New Target CEO Bets On Stores And Family Shoppers
- Target's stock rose despite its 13th straight weak quarter because new CEO Michael Fiddelke unveiled a $6B turnaround plan.
- Plan includes $2B for store refreshes, Greet Help Thank in-store experience, and category overhauls to refocus on busy families.