Good morning. US stock futures dipped in Monday morning trading as Wall Street marked the end of a better than expected quarter.

🤖 California Governor vetoes AI regulation bill

📝 Our report: Guess we’ll have to wait a bit longer for the robots to get their rulebook! California Governor Gavin Newsom just nixed a groundbreaking AI regulation bill, which could have set the toughest AI rules in the U.S.

 🔑 Key points:

• The measure, known as the Safe and Secure Innovation for Frontier Artificial Intelligence Models Act (SB 1047), would require safety measures from companies that spend more than $100 million to train AI models.

• In his veto message, Newsom said SB 1047 is "well-intentioned," but it "does not take into account whether an AI system is deployed in high-risk environments, involves critical decision-making or the use of sensitive data. Instead, the bill applies stringent standards to even the most basic functions — so long as a large system deploys it. I do not believe this is the best approach to protecting the public from real threats posed by the technology.”

• Regulating the technology has been a flashpoint in Silicon Valley and beyond. OpenAI, Google and Meta publicly opposed the bill. Anthropic, backed by Amazon, cautiously supported it after suggesting amendments to its original version.

💡 So what: California Governor Gavin Newsom's veto of the AI regulation bill delays efforts to create a robust framework to govern large-scale AI technologies. This move stalls the establishment of safeguards addressing ethical concerns like privacy and job loss. It suggests that California is prioritizing tech innovation over immediate regulation, influencing other states and possibly the federal government to follow suit. In the meantime, AI companies will likely continue to self-regulate, keeping the debate on balancing innovation and responsible use in limbo.

Monday - Federal Reserve Chair Jerome Powell Speaks

Tuesday - Construction spending

Wednesday - Federal Reserve Governor Michelle Bowman Speaks

Thursday - Minneapolis Fed President Neel Kashkari Moderates Discussion With Atlanta Fed President Raphael Bostic

Friday - U.S. Unemployment Rate

📈 Charlie Munger shares these 4 investing lessons!

💰 Do you have a “rainy day” fund?

🏡 Thinking about investing in real estate? Consider these 6 points!

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PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🛥️ US East Coast ports gear up for strike

WHAT: Prepare for some supply chain snarls and delayed shipments! A port strike on the U.S. East Coast and Gulf of Mexico is officially set for this week, according to the International Longshoremen’s Association (ILA).

WHY: “United States Maritime Alliance ... refuses to address a half-century of wage subjugation,” the union said in a statement. The United States Maritime Alliance, known as USMX, represents employers of the East and Gulf Coast longshore industry. If union members walk off the job at ports stretching from Maine to Texas, it would be the first coast-wide ILA strike since 1977.

🤖 OpenAI’s losses mount

WHAT: OpenAI, maker of ChatGPT, is reportedly looking at $5 billion in losses this year, despite pulling in $3.7 billion in revenue according to reports from CNBC. The company, which is backed by Microsoft, is currently pursuing a funding round that would value the company at more than $150 billion, people familiar with the matter have told CNBC.

WHY: OpenAI’s services have exploded in popularity since the company launched ChatGPT in late 2022. The company sells subscriptions to various tools and licenses its GPT family of large language models, which are powering much of the generative AI boom.

🚀 SpaceX launches mission to rescue stranded astronauts

WHAT: SpaceX is sending a smaller crew to rescue the two stranded astronauts on the International Space Station—but the catch is they’ll have to stick around until next year before they can finally head home. The capsule rocketed into orbit to fetch the test pilots whose Boeing spacecraft returned to Earth empty earlier this month because of safety concerns.

WHY: By the time they return, the pair will have logged more than eight months in space. They expected to be gone just a week when they signed up for Boeing’s first astronaut flight that launched in June. NASA ultimately decided that Boeing’s Starliner was too risky after a cascade of thruster troubles and helium leaks marred its trip to the orbiting complex.

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Good morning. US stock futures dipped in Friday morning trading as Wall Street awaits a key inflation reading.

🤖 Report show US housing becoming more affordable

📝 Our report: A recent Q3 2024 housing affordability report from research firm Attom shows that a cocktail of falling mortgage rates, rising wages, and slower home-price growth is making homeownership just a tad easier on the wallet. With rates now falling — and more downward movement expected after the Federal Reserve‘s recent interest rate cut — Attom’s report suggests that affordability is getting better too.

 🔑 Key points:

• “Home affordability continues to show signs of easing, which lightens the pressure on house hunters struggling to find a place that fits their budget,” Attom CEO Rob Barber said in a statement.

• When comparing median-priced homes and average national wages, homeownership expenses take up 33.5% of a typical household budget. That’s a bit better than in the second quarter of 2024 but unchanged from a year ago.

• Home prices are still rising as well. Attom’s report indicates that 63% of counties analyzed saw median home prices jump between the second and third quarters, while 85% of counties had higher median prices than a year ago.

💡 So what: Attom’s report indicating that homeownership may be getting more affordable could be good news for prospective buyers. Lower mortgage rates, rising wages, and slower home-price growth make purchasing a home more accessible for many. This increased affordability could stimulate demand in the housing market, boosting related sectors like construction and home goods. However, affordability remains a challenge in high-demand areas, and any improvement may vary regionally, affecting the broader U.S. economy’s growth and inflation trends.

Friday - Consumer Sentiment (final)

📈 The best investors have these 6 personality traits

💰Everything you need to know about debt relief

🧑🏾‍💼 Is your career headed in the right direction?

 📈 Get 5.1% APY For Your Extra Cash

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I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

📺 Pay-TV providers on verge of merging

WHAT: DirecTV and Dish are reportedly deep into merger talks to create the largest US pay-TV provider, with nearly 20 million subscribers, according to people familiar with the matter. DirecTV, founded in 1994 by Hughes Electronics, is owned by AT&T Inc. and TPG Inc., and has about 11 million customers. Dish, started in 1980 by billionaire Charlie Ergen, is part of his EchoStar Corp. and has about eight million subscribers. EchoStar and TPG are expected to remain investors, the people said.

WHY: While past discussions of a DirecTV-Dish combination have faced antitrust concerns, the shift from pay TV to streaming has changed the competitive landscape, potentially making the path easier this time. A deal would help them better compete with cable companies and streaming services such as Netflix Inc.

🖥️ Dell says “back to the office” for salespeople

WHAT: Dell Technologies is ringing the office bell, calling its sales team back in for five-day work weeks in the near future. Dell alluded to internal productivity data supporting the latest changes. The company’s data “showed that sales teams are more productive when onsite,” the company said in a memo to sales team members.

WHY: The new policy is a substantial departure from founder and CEO Michael Dell’s stance two years ago as the company emerged from the pandemic. “At Dell, we found no meaningful differences for team members working remotely or office-based even before the pandemic forced everyone home,” he wrote on LinkedIn in 2022. “Our business results show it’s working for us, and I believe this model will eventually be embraced as the future of work.”

💊 Drugmaker fined over Alzheimer’s drug claims

WHAT: Cassava Sciences and two ex-execs agreed to shell out over $40 million to settle US Securities and Exchange Commission (SEC) claims that they misled the public about the results of an Alzheimer's drug trial. Cassava published results in 2020 based on hand-selected data that showed patients’ memories improved, though the full data showed no measurable progress, the SEC said in a statement announcing the settlement. The company later raised hundreds of millions of dollars in funding, the regulator said.

WHY: The Austin-based company, which previously disclosed a Justice Department inquiry, said it took steps to improve corporate governance and transparency and doesn’t expect criminal charges. “Cassava is pleased to put this matter behind us,” its new CEO, Richard Barry, said in a statement.

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Good morning. US stock futures rose in Thursday morning trading as the broad market indices continued to notch record highs.

🤖 OpenAI considers major management, corporate overhaul

📝 Our report: OpenAI’s board is reportedly mulling over a switch to a for-profit structure according to anonymous sources close to the action who say that discussions are still in progress. The structure would be more straightforward for investors and would make it easier for OpenAI employees to realize liquidity, the sources added.

 🔑 Key points:

• News of the discussions comes after OpenAI Chief Technology Officer Mira Murati said she is leaving the company after six and a half years.

• OpenAI CEO Sam Altman said research chief Bob McGrew and Barret Zoph, a research vice president, are also departing, as the high-valued artificial intelligence startup continues to lose top talent.

• Murati raised eyebrows earlier this year, telling an audience at The Wall Street Journal’s WSJ Tech Live conference that new artificial intelligence tools will likely lead to the disappearance of some creative jobs.

💡 So what: If OpenAI transitions to a for-profit model, it could lead to a stronger focus on generating revenue, attracting significant investments for future AI advancements. However, this shift might raise ethical concerns, as prioritizing profits could conflict with the company's mission to ensure AI benefits humanity. It could also intensify competition with tech giants like Google and Microsoft, leading to rapid AI development but less collaboration. Additionally, partnerships and accessibility to OpenAI's technology may become more transactional, potentially limiting access for smaller developers and non-profits.

Thursday - Federal Reserve Chair Jerome Powell Gives Opening Remarks, GDP (second revision)

Friday - Consumer Sentiment (final)

📈 Are you a trader or investor?

💰Do you know how much of your paycheck you should save?

🧑🏾‍💼 Here’s how you can turn your hobby into a career!

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I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

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Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

👓 Meta unveils updates to AR/VR glasses

WHAT: Meta rolled out updates to its VR headset and Ray-Ban smart glasses, flexing its AI muscles while showing off the next wave of tech that could outshine your smartphone and computer. CEO Mark Zuckerberg, speaking at the company’s annual Meta Connect conference, said Meta is working to “bring the future to everyone” with its headsets, glasses and AI system.

WHY: Meta — which renamed itself from Facebook in 2021, still makes nearly all of its money from advertising. In its most recent quarter, 98% of its more than $39 billion in revenue came from ads. At the same time, the company is investing heavily in AI and what Zuckerberg sees as the next generation of computing platforms such as VR headsets and AR glasses.

🖥️ Google squares off with Microsoft in Europe

WHAT: Google has lodged a complaint with the EU, accusing Microsoft of using sneaky, anti-competitive tactics to steer clients toward its Azure cloud platform. Microsoft required customers that ran Windows on its rivals’ cloud platforms—specifically Google Cloud, Amazon Web Services, and Alibaba Cloud—to pay a 400% markup, Google Cloud Vice President Amit Zavery said in a blog post announcing the complaint.

WHY: Google cited a 2023 study from CISPE, a European cloud services organization with members including Amazon, that found that public and private entities were paying Microsoft as much as 1 billion Euros ($1.1 billion) annually in licensing penalties.

✖️ X requests Brazilian restart

WHAT: Elon Musk's platform X plans to submit the documents requested by Brazil's Supreme Court, hoping to get the green light to restore service in the country, according to two insiders. Access to the platform formerly known as Twitter has been blocked in Brazil since the end of August, following an order by Supreme Court Justice Alexandre de Moraes.

WHY: The dispute led X to close its offices in the country and let go of employees including its legal agent, breaching a local law. The platform may again be available to Brazilians as early as next week after X provides documents requested by the court proving it now has a legal representative in the country, said the sources familiar with X's plans.

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Good morning. US stock futures dipped in Wednesday morning trading as the broad market indices climbed to new records.

😬 US consumers show worry as confidence declines to 3-year low

📝 Our report: Consumer confidence took a nosedive in September as Americans started feeling jittery about the cooling job market. The latest index reading from the Conference Board was 98.7, below the 105.6 seen in August and lower than what the 104 economists surveyed by Bloomberg expected.

 🔑 Key points:

• The drop in consumer confidence from August to September was the largest decline since August 2021, according to the Conference Board.

• Unemployment has steadily risen throughout 2024 and sits at 4.2%, just below its highest level in almost three years. Meanwhile, job openings declined in July to their lowest level since January 2021.

• Federal Reserve Chair Jerome Powell recently acknowledged there are rising risks of further slowing in the labor market. But for now, he sees a labor market that is "actually in solid condition."

💡 So what: The drop in U.S. consumer confidence to a 3-year low suggests increasing concerns about the economy. Lower confidence typically translates to reduced consumer spending, which can slow economic growth since consumer spending drives a significant portion of the U.S. economy. Concerns about job security, inflation, and rising interest rates may also play a role. If confidence continues to weaken, businesses may experience lower sales, potentially impacting hiring and investment decisions, further fueling economic uncertainty and contributing to a possible slowdown.

Wednesday - Federal Reserve Governor Adriana Kugler Speaks

Thursday - Federal Reserve Chair Jerome Powell Gives Opening Remarks, GDP (second revision)

Friday - Consumer Sentiment (final)

📈 Successful billionaires share these 13 business lessons!

💰Do you have a great business idea? These 9 signs will let you know!

🧑🏾‍💼 Thinking about a career shift? Here’s how you can navigate the transition!

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PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🏡 US home prices soar to record highs

WHAT: US home prices hit a new record in July, giving buyers a fresh headache as affordability remains tough, even with mortgage rates dipping slightly. The S&P Case-Shiller National Home Price Index rose 0.2% over the prior month in July on a seasonally adjusted basis, unchanged from June’s monthly increase. This marked the sixth consecutive monthly increase and an all-time high for the index.

WHY: New York reported the highest year-over-year gains among the 20 metro areas tracked by Case-Shiller in July, with annual price gains clocking in at 8.8%. Las Vegas and Los Angeles followed with gains of 8.2% and 7.2%, respectively.

🎵 TikTok Music to come to an end

WHAT: ByteDance announced it’s pulling the plug on TikTok Music in November, proving that even viral sensations can’t always hit the right note in the streaming game! TikTok said that it will continue partnering with music streaming services rather than competing with them. "We are sorry to inform you that TikTok Music will be closing on 28 November 2024," a notice on TikTok Music's website reads. The service was available in Indonesia, Brazil, Australia, Singapore, and Mexico.

WHY: TikTok has had a shaky relationship with the music industry lately. Earlier this year, Universal Music Group (UMG) pulled its music catalog out of the service after disagreements over royalties. In response, TikTok called out UMG for "false narrative and rhetoric." In March, both parties called a truce and signed a new deal.

🛢️ OPEC projects oil outlook to 2050

WHAT: OPEC boosted its oil demand forecasts for the medium and long term, citing growth driven by India, Africa, and the Middle East, with the shift to electric vehicles and cleaner fuels moving slower than expected. The Organization of the Petroleum Exporting Countries, in its 2024 World Oil Outlook, sees demand growing for a longer period than other forecasters like BP and the International Energy Agency, which see oil use peaking this decade.

WHY: OPEC expects world oil demand to reach 118.9 million barrels a day (bpd) by 2045, around 2.9 million bpd higher than expected in last year's report. The report rolled out its timeline to 2050 and expects demand to hit 120.1 million bpd by then.

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Good morning. US stock futures rose in Tuesday morning trading as the broad market indices notched new records.

💳 US DoJ set to go after Visa over allegations of card monopoly

📝 Our report: The U.S. Department of Justice is reportedly gearing up to sue Visa, accusing the payment giant of illegally hogging the country’s debit card market, according to Bloomberg News. The antitrust division is set to sue Visa in federal court, accusing it of various anticompetitive behaviors, the report said, citing unnamed sources.

 🔑 Key points:

• The Justice Department is preparing to accuse Visa of taking measures to prevent competitors from challenging its dominance in the debit card market, according to the report.

• In 2023, the DOJ's antitrust division issued an investigative demand to Visa, seeking documents and information about its debit card practices in the U.S. and competition with other payment networks.

• Visa's rival Mastercard has previously faced similar antitrust investigations regarding its U.S. debit program and competition with other payment networks.

💡 So what: If the U.S. Department of Justice sues Visa over monopoly allegations in the debit card market, it could have significant implications for both the payments industry and consumers. Visa could face heavy fines or be forced to alter its business practices, which may increase competition in the debit card sector, possibly lowering fees for businesses and consumers. On the other hand, this lawsuit could lead to tighter regulatory scrutiny across the financial services industry, especially in how major players control market share. A drawn-out legal battle might also shake investor confidence in Visa.

Tuesday - Consumer Confidence, Federal Reserve Governor Michelle Bowman Speaks

Wednesday - Federal Reserve Governor Adriana Kugler Speaks

Thursday - Federal Reserve Chair Jerome Powell Gives Opening Remarks, GDP (second revision)

Friday - Consumer Sentiment (final)

📈 These are Carlos Slim’s top 10 business lessons!

📟 Everything you need to know about stablecoins

💸 Here’s how you can eat healthy on a tight budget!

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

✈️ Boeing makes “final offer” to union workers

WHAT: Boeing says it’s given union machinists a “best and final offer,” sweetening the deal with bigger raises and bonuses than the initial rejected proposal. The new offer -- and labeling it a final one -- demonstrates Boeing’s eagerness to end the strike by about 33,000 machinists that began Sept. 13. The company introduced rolling furloughs of non-unionized employees last week to cut costs during the strike.

WHY: Boeing's latest offer includes upfront pay raises of 12% plus three annual raises of 6% each. Boeing said average annual pay for machinists would rise from $75,608 now to $111,155 at the end of the four-year contract.

🛢️ California sues oil major

WHAT: California is taking ExxonMobil to court, accusing the oil giant of spending 50 years misleading the public by claiming recycling would solve the plastic pollution crisis. Attorney General Rob Bonta's office said that even with recycling programs, less than 5% of plastic is recycled into another plastic product in the U.S. even though the items are labeled as “recyclable.” As a result, landfills and oceans are filled with plastic waste.

WHY: Lately ExxonMobil has been promoting “advanced recycling” — also known as “chemical recycling” — and saying it will better turn old plastics into new products, the lawsuit states.

💲Crypto firm, regulator clash in court

WHAT: Coinbase and the U.S. Securities and Exchange Commission went head-to-head in a Philadelphia appeals court, with the crypto exchange pushing the regulator to finally get with the times and create rules for digital assets. Coinbase, the largest U.S. crypto exchange, sued the Securities and Exchange Commission last year in an effort to compel the regulator to act on a petition for rulemaking Coinbase filed in 2022.

WHY: The dispute is the latest in a broader tug-of-war between the crypto sector and the top U.S. markets regulator, which has repeatedly said most crypto tokens are securities and subject to its jurisdiction. The agency has sued several crypto companies, including Coinbase, for listing and trading crypto tokens which it says should be registered as securities.

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Good morning. US stock futures ticked higher in Monday morning trading as Wall Street considers what comes next after the Federal Reserve began cutting rates.

🚗 US govt set to ban Chinese tech in US vehicles

📝 Our report: The U.S. Commerce Department is reportedly planning to block Chinese software and hardware from connected and autonomous vehicles on U.S. roads due to national security worries, according to reports from Reuters. The Biden administration has raised serious concerns about the collection of data by Chinese companies on U.S. drivers and infrastructure as well as the potential foreign manipulation of vehicles connected to the internet and navigation systems.

 🔑 Key points:

• The proposed regulation would ban the import and sale of vehicles from China with key communications or automated driving system software or hardware, said two sources, who declined to be identified because the decision had not been publicly disclosed.

• The move is a significant escalation in the United States' ongoing restrictions on Chinese vehicles, software and components. Recently, the Biden administration locked in steep tariff hikes on Chinese imports, including a 100% duty on electric vehicles as well as new hikes on EV batteries and key minerals.

• Commerce Secretary Gina Raimondo said in May the risks of Chinese software or hardware in connected U.S. vehicles were significant. "You can imagine the most catastrophic outcome theoretically if you had a couple million cars on the road and the software were disabled," she said.

💡 So what: The U.S. blocking Chinese hardware and software from autonomous vehicles could lead to significant changes in both the automotive and tech sectors. Automakers may face higher costs or slower innovation if they have to replace advanced, cost-effective Chinese technologies with alternatives. For Chinese companies, it could mean losing access to a major market, stifling their growth. The move reflects ongoing national security concerns about data privacy and tech dominance, intensifying U.S.-China tensions. It may also encourage U.S. firms to invest in domestic solutions, though it could delay widespread adoption of autonomous vehicles.

Monday - Chicago Fed President Austan Goolsbee Speaks

Tuesday - Consumer Confidence, Federal Reserve Governor Michelle Bowman Speaks

Wednesday - Federal Reserve Governor Adriana Kugler Speaks

Thursday - Federal Reserve Chair Jerome Powell Gives Opening Remarks, GDP (second revision)

Friday - Consumer Sentiment (final)

📈 Peter Lynch shares his 5 tips to be a successful investor!

📟 Everything you need to know about the blockchain

💸 Follow these 4 tips to manage your finances

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🏨 Motel chain sold in half-billion dollar deal

WHAT: Motel 6 is being sold to the parent company of Oyo, a hotel operator based in India, in a $525 million all-cash deal. Blackstone, the current owner, is handing over the keys to the budget chain, marking another chapter for the motel famously known for "leaving the light on for you."

WHY: Blackstone had purchased Motel 6 and Studio 6 in 2012 for $1.9 billion. Since then, the private equity giant says it has heavily invested in the brand and pursued a strategy that converted the chain into a franchise.

🛍️ Plastic shopping bags banned in Cali

WHAT: California shoppers will no longer have to choose between “paper or plastic” at checkout lines—Gov. Gavin Newsom has officially bagged plastic shopping bags for good under a new law. The new measure, approved by state legislators last month, bans all plastic shopping bags starting in 2026. Consumers who don't bring their own bags will now simply be asked if they want a paper bag.

WHY: Twelve states, including California, already have some type of statewide plastic bag ban in place, according to the environmental advocacy group Environment America Research & Policy Center. Hundreds of cities across 28 states also have their own plastic bag bans in place.

🤖 Google announces global fund for AI education

WHAT: At the UN Summit of the Future, Google CEO Sundar Pichai called AI "the most transformative technology yet" and revealed a new global fund to boost AI education and training. He added that he wants to avoid a global “AI divide” and that Google is creating a $120 million Global AI Opportunity Fund through which it will “make AI education and training available in communities around the world” in partnership with local nonprofits and NGOs.

WHY: Pichai acknowledged that AI also presents risks, for example with deep fakes, though he didn't mention AI's impact on the climate. On the same theme, Pichai called for "smart product regulation that mitigates harms and resists national protectionist impulses" — otherwise, he predicted regulation could "widen an AI divide and limit AI’s benefits.”

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Good morning. US stock futures fell in Friday morning trading as the broad market indices closed at record highs recently.

👟 Sneaker giant shakes things up at the top

📝 Our report: Nike just announced that CEO John Donahoe is stepping down, and in a plot twist, longtime company vet Elliott Hill is dusting off his sneakers and coming out of retirement to lead the brand once again. Donahoe, who has been Nike’s CEO since Jan. 2020, will retire from his position on Oct. 13. Hill is slated to take over on the following day. Donahoe will stay on as an advisor through the end of January.

 🔑 Key points:

• Nike is in the midst of a broader restructuring after it shifted its strategy to sell directly to consumers.

• Critics say in the process of building out sales at Nike’s own stores and website, it lost sight of innovation and failed to churn out the types of groundbreaking sneakers the company was known for.

• Under Donahoe’s tenure, Nike grew annual sales from $39.1 billion in fiscal 2019 to $51.4 billion in fiscal 2024. During Covid, online sales were booming and the strategy to transform Nike from a brand into a retailer seemed to be working — until the pandemic started to end.

💡 So what: Nike's CEO change comes at a pivotal time for the company. A leadership transition, especially with John Donahoe stepping down and Elliott Hill returning, signals potential shifts in strategy or focus. Donahoe has been guiding Nike through digital transformation and growth, while Hill, with deep experience in Nike’s brand and consumer strategies, could bring a renewed focus on the core of Nike’s business: brand storytelling, innovation, and connecting with consumers. This move might aim to reinforce Nike's competitive edge, recalibrate its priorities, or strengthen the company’s resilience during global market challenges.

Friday - No Major Economic News

📈 Business legend Mark Cuban shares his best advice on how to get rich!

🏢 Follow these 5 tips to build a successful startup

🧾 Here’s how you can update your resume to make an impact!

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🎥 Theater chains to spend billions in upgrades

WHAT: Your next movie night might come with an upgraded seat and sound system! The biggest theater chains—AMC, Regal, and Cinemark—are getting ready to splash over $2.2 billion on some serious theater makeovers across the U.S. and Canada over the next three years, according to an industry group.

WHY: Improvements will be made by the eight biggest theater chains in the region, representing over 21,000 screens and 67% of box office sales, according to the National Association of Theatre Owners. The movie business has faced multiple challenges from the rise of streaming to the COVID-19 pandemic and the Hollywood strikes in 2023.

🍝 Olive Garden, Uber form delivery partnership

WHAT: Olive Garden is diving into the delivery game for the first time, teaming up with Uber to bring those breadsticks straight to your door! Darden Restaurants, which owns Olive Garden and other chains like LongHorn Steakhouse, says Olive Garden will lead the charge, rolling out third-party delivery later this year.

WHY: The move is a reversal for Orlando, Florida-based Darden, which has long delivered large catering orders itself but has resisted third-party delivery for individual orders in the past. In 2018, Darden’s then-President and CEO Gene Lee said the company was testing third-party delivery but was skeptical.

🐭 Disney turns back on Slack

WHAT: Seems the Mouse House is rethinking its chat platform after getting a little too much unwanted attention! Walt Disney is reportedly pulling the plug on Slack as its go-to collaboration tool after hackers leaked over a terabyte of company data, according to the Wall Street Journal. Disney's CFO Hugh Johnston said most of the media and entertainment company's businesses would stop using the service later this year, the report said.

WHY: Hacking group NullBulge had published data from thousands of Slack channels at the entertainment giant, including computer code and details about unreleased projects, the Journal reported in July.

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Good morning. US stock futures rose in Thursday morning trading as Wall Street digested the Federal Reserve’s decision to lower interest rates by a half percentage point.

✂️ US Federal Reserve begins interest rate cuts

📝 Our report: The Federal Reserve just made its first rate cut since the early pandemic days, trimming half a percentage point from benchmark rates to keep the job market from losing steam. Outside of the emergency rate reductions during Covid, the last time the FOMC cut by half a point was in 2008 during the global financial crisis.

 🔑 Key points:

• With both the jobs picture and inflation softening, the central bank’s Federal Open Market Committee chose to lower its key overnight borrowing rate by a half percentage point, or 50 basis points, affirming market expectations that had recently shifted from an outlook for a cut half that size.

• The decision lowers the federal funds rate to a range between 4.75%-5%. While the rate sets short-term borrowing costs for banks, it spills over into multiple consumer products such as mortgages, auto loans and credit cards.

• “We’re trying to achieve a situation where we restore price stability without the kind of painful increase in unemployment that has come sometimes with this inflation. That’s what we’re trying to do, and I think you could take today’s action as a sign of our strong commitment to achieve that goal,” Chair Jerome Powell said at a news conference following the decision.

💡 So what: The U.S. Federal Reserve's recent decision to cut interest rates by 50 basis points, the first since the 2020 Covid-19 pandemic, has notable implications for both the economy and financial markets. Lower rates typically reduce borrowing costs, which can spur business investments, consumer spending, and a boost in the housing market. For markets, this move often brings optimism, as it can improve corporate profits and stock performance. However, it also signals concern over potential economic slowdown, which could spark volatility. Overall, this rate cut is designed to stimulate economic activity while hinting at caution for future growth.

Thursday - U.S. Leading Economic Indicators

Friday - No Major Economic News

📈 Paul Tudor Jones shares his 7 best trading tips!

🏡 These are the hidden costs of owning a house

💰 Fix these budgeting mistakes right now!

 📈 Get 5.1% APY For Your Extra Cash

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Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🖱️ Google catches break in EU antitrust case

WHAT: The European Union’s second-highest court has decided to scrap a 1.5 billion euro fine against Google, siding with the tech giant after it challenged the ruling. The case stems from 2019 when the European Commission, the EU’s executive arm, said Alphabet owned Google had abused its market dominance in relation to a product called AdSense for Search. This product allowed website owners to deliver ads into the search results on their own pages.

WHY: There has been a slew of court cases involving the EU and U.S. tech companies reaching their conclusions recently. This month, the ECJ upheld a 2.4 billion euro fine imposed on Google for abusing its dominant position by favoring its own shopping comparison service. And the same court ruled that Apple must pay 13 billion euros in back taxes to Ireland, ending a decade-long case.

✈️ Boeing furloughs staff

WHAT: Looks like Boeing staffers are about to get some unexpected "unpaid time off." Just days after hitting pause on hiring, Boeing told employees that furloughs are now in the works. This comes after over 30,000 workers with the International Association of Machinists and Aerospace Workers (IAM) rejected a contract renewal with the company and went on strike last week.

WHY: The furloughs were anticipated as the aerospace company attempts to stop the financial bleeding caused by the strikes. A Bloomberg Intelligence analysis predicted that Boeing could be out $3.5 billion in cash in Q3 if the strike continues through September.

🖥️ YouTube launches social space for creators

WHAT: At its Made On YouTube event, YouTube unveiled a new feature called "Communities," which is basically a built-in Discord server on a creator's channel. It's designed to give fans a space to hang out and interact, bringing creators and viewers even closer together. With Communities, YouTube is hoping creators won't need to use other platforms like Discord or Reddit in order to interact with viewers.

WHY: YouTube is testing Communities now on mobile devices with a small group of creators. The company plans to test the feature with more creators later this year before expanding access to additional channels in early 2025.

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Good morning. US stock futures ticked higher in Wednesday morning trading as Wall Street anticipated a long-awaited rate cut from the Federal Reserve following an aggressive multiyear hiking campaign aimed at tamping down hot inflation.

✈️ US DoT approves airline merger

📝 Our report: Buckle up for some island-hopping synergy! Alaska Airlines is gearing up to finalize its $1.9 billion merger with Hawaiian Airlines, now that the Department of Transportation has given the green light, the company revealed in a regulatory filing.

 🔑 Key points:

• Alaska is the fifth-biggest airline in the U.S. and Hawaiian is No. 10. The combination will solidify Alaska’s position as a stronger No. 5, which is important for the carrier to remain competitive with major U.S. carriers American, Delta, United and Southwest.

• The combination of Alaska Airlines and Hawaiian Airlines is important from a freight perspective because Alaska will take over cargo transportation for e-commerce giant Amazon.

• The deal will give Alaska the opportunity to take some of Hawaiian’s long-range Boeing 787s and Airbus A330s and run them out of Seattle to Asia and Europe, but the real impetus for the merger was beating back Southwest Airlines. Both airlines serve Hawaii but lost market share when Southwest began serving the state in 2019.

💡 So what: The merger between Alaska Airlines and Hawaiian Airlines could significantly impact the U.S. aviation industry by creating a stronger regional carrier with an expanded route network, particularly to and from Hawaii and the West Coast. This consolidation may lead to more streamlined services, offering passengers better connectivity and possibly more competitive fares. However, it also raises concerns about reduced competition on certain routes, which could result in higher prices. The move reflects a broader trend of industry consolidation aimed at increasing profitability and competitiveness in an increasingly challenging market.

Wednesday - FOMC Interest-Rate Decision, Fed Chair Powell Press Conference

Thursday - U.S. Leading Economic Indicators

Friday - No Major Economic News

📈 Carl Icahn shares investment traps and tips!

🏢 Small business stressing you out? Avoid burnout by following these tips!

🧑🏽‍💼 Trouble feeling motivated at your job? Here’s how you can turn that around!

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

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And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🎵 More and more Americans consume news on TikTok

WHAT: A new survey shows that TikTok is becoming the go-to news source for a growing number of Americans, especially young adults. About 17% of US adults say they regularly get news from the site owned by China-based ByteDance Ltd. — a fivefold increase from 2020, according to survey data from Pew Research.

WHY: The increase is notable given TikTok’s standing in the US, where lawmakers are actively trying to ban the app for fear that its Chinese parent company could abuse user data or try and sway political opinions through the app’s feed. Some elected officials worry that TikTok’s ties to China could affect the app’s algorithm, which may subtly influence the content users see and shape Americans’ views on important issues.

🏬 Walmart set to raise worker pay

WHAT: Sam's Club, owned by Walmart, announced plans to boost hourly wages for nearly 100,000 employees as part of a shiny new compensation plan just in time for the holiday hustle. Wages for its entry-level workers will now start at $16 per hour from $15 that was set three years ago, it said. The company also said hourly wages will grow at a "faster" clip, rising to between 3% and 6% based on years of service that would allow workers to quickly attain the maximum pay rate for their given position.

WHY: The warehouse club chain, a rival to membership-only retailer Costco, has seen sales growth in almost every category in the past few quarters, after underperforming for years.

💰 The world’s first…trillionaire?

WHAT: Elon Musk’s ever-expanding empire — from EVs and social media to space rockets and even brain implants — might just put him on track to become the world’s first trillionaire. Musk could become the world’s first trillionaire, a milestone that Informa Connect Academy says he’s on track to hit by 2027. Informa notes that Musk’s net worth has been growing rapidly at an average rate of 110% per year, making him the “clear favorite” to hit the $1 trillion first.

WHY: Whether Musk gets to the trillion-dollar mark first — or at all for that matter — will depend in large part on the future of his biggest success: Tesla. The EV maker founded by Musk has become the world’s most valuable auto company, with a price tag of about $710 billion.

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Good morning. US stock futures ticked higher in Tuesday morning trading as Wall Street readied for key retail sales data and the start of the Federal Reserve’s latest policy meeting.

🛒 Amazon orders staff back to the office

📝 Our report: Looks like "WFH" is getting a serious timeout! Amazon CEO Andy Jassy just dropped the news: corporate staffers should prepare to be in the office five days a week, according to a memo he sent out to Amazon employees. The decision marks a significant shift from Amazon’s earlier return-to-work stance, which required corporate workers to be in the office at least three days a week. Now, the company is giving employees until Jan. 2 to start adhering to the new policy.

 🔑 Key points:

• Corporate employees will be expected to be in the office five days a week “outside of extenuating circumstances” or unless they have been granted an exception by their organization’s S-team leader, Jassy said, referring to the close-knit group of executives that report to Amazon’s CEO.

• Amazon also plans to simplify its corporate structure by having fewer managers in order to “remove layers and flatten organizations,” Jassy said.

• The company rapidly grew its headcount over the course of the pandemic before Jassy took the helm and instituted widespread cost cuts across Amazon, including the largest layoffs in its 27 years as a public company. Amazon’s headcount totaled 1.53 million employees in the second quarter, representing growth of just 5% from a year earlier.

💡 So what: Amazon's decision to mandate five days in the office for corporate staff has notable implications. It could negatively affect employee morale, especially for those who value remote work flexibility, and might lead to turnover or dissatisfaction. However, Amazon may aim to boost in-person collaboration, productivity, and address concerns about preserving company culture. This move might influence other companies to reconsider remote or hybrid setups, potentially impacting real estate markets by shifting demand back to urban office spaces. Ultimately, it reflects the broader debate over the future of work and how to balance flexibility with company goals.

Tuesday - US Retail Sales

Wednesday - FOMC Interest-Rate Decision, Fed Chair Powell Press Conference

Thursday - U.S. Leading Economic Indicators

Friday - No Major Economic News

📈 5 pieces of investing advice from the world’s best investors!

💳 Struggling with bad credit? Here’s how you can clean it up in 8 steps!

🧑🏽‍💼 Job interview coming up? Watch out for these red flags!

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And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🥽 VR, AR headset demand set to skyrocket on AI progress

WHAT: Global AR/VR headset shipments are expected to leap by 41.4% in 2025, thanks to cheaper devices and a sprinkle of AI magic, according to research firm IDC. Worldwide shipments of AR and VR headsets fell 28.1% year-over-year to 1.1 million units in the second quarter, due to elevated prices and a weak economy prompting customers to rein in expenses, IDC said.

WHY: "We're seeing a slew of new startups and next generation products from established brands targeting the 'smart glasses' space," said Jitesh Ubrani, research manager, Worldwide Mobile Device Trackers at IDC. "What's different this time around is the inclusion of AI along with thinner and lighter designs catering to consumers." he added.

🍴 Tupperware looks for bankruptcy protection

WHAT: Tupperware is reportedly set to file for bankruptcy as soon as this week after years of struggling to freshen up its business, with demand for its iconic containers fading. The home-goods brand, which has for much of a century defined food storage, is planning to enter court protection after it breached the terms of its debt and enlisted legal and financial advisers, said people familiar with the matter.

WHY: The bankruptcy preparations follow protracted negotiations between Tupperware and its lenders over how to manage more than $700 million in debt. The lenders agreed this year to give it some breathing room on the violated loan terms, but the company continued to deteriorate.

🤝 Intel inks deal for Amazon’s chips

WHAT: Intel has scored a big win by landing Amazon’s AWS as a manufacturing customer, which could bring work to Intel’s new U.S. plants and give its turnaround plans a much-needed boost. Intel and AWS will coinvest in a custom semiconductor for artificial intelligence computing – what’s known as a fabric chip – in a “multiyear, multibillion-dollar framework,” according to a statement from the company.

WHY: Intel still has a long way to go to win back Wall Street’s full confidence. After years of losing ground to rivals and seeing its technological edge slip, the Silicon Valley pioneer is valued at less than $90 billion.

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Good morning. US stock futures were mixed in Monday morning trading as Wall Street awaits the Federal Reserve’s highly anticipated policy meeting, during which central bankers are expected to cut rates for the first time since 2020.

🎵 TikTok to have its day in court

📝 Our report: The fate of TikTok, the viral app flagged as a national security risk by the FBI, could be hanging in the balance, as an upcoming court hearing in Washington, D.C. might just decide whether it gets to stay or faces a digital curtain call. Lawyers for the US Justice Department, TikTok, and a group of the platform’s users are scheduled to argue in court over a US law prohibiting Chinese ownership of the app.

 🔑 Key points:

• TikTok, a subsidiary of tech giant ByteDance, claims that the law, signed by President Biden in April, is unconstitutional.

• The law says ByteDance must divest control of TikTok by Jan. 19 2025, or face a nationwide ban.

• "ByteDance is not owned or controlled by the Chinese government. It is a private company," TikTok CEO Shou Zi Chew testified to members of Congress in a March 2023 hearing.

💡 So what: When TikTok and the U.S. Justice Department face off in court, the stakes could be high for both the app's future in the U.S. and broader issues like national security and data privacy. A ruling against TikTok might lead to a ban or stricter regulations, potentially severing its access to millions of American users, while setting a precedent for how the U.S. handles foreign-owned tech companies. Conversely, a win for TikTok could secure its place in the U.S. market and influence future legal and regulatory battles over privacy, data collection, and foreign influence in tech. The case will be closely watched as it could redefine the relationship between innovation and national security in the tech sector.

Monday - No Major Economic News

Tuesday - US Retail Sales

Wednesday - FOMC Interest-Rate Decision, Fed Chair Powell Press Conference

Thursday - U.S. Leading Economic Indicators

Friday - No Major Economic News

📈 16 rules for investing success according to John Templeton

💰 Thinking about buying a house? Here’s how to save in 7 easy steps

💸 Can you bootstrap your way to business success?

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🤖 OpenAI considers steep subscription price

WHAT: OpenAI is reportedly eyeing a premium ChatGPT subscription plan for businesses that could come with a hefty price tag—up to $2,000 a month. According to the report by "The Information," OpenAI aims to introduce premium tiers that are more expensive but will offer superior functionality and cutting-edge AI models that are still in development.

WHY: ChatGPT already has a paid plan offering quicker responses and some extra features. While the free version will remain for simple queries, this new model may offer something worth paying for – especially for businesses handling complex data and decision-making.

✈️ Air Canada, pilots reach agreement, avoid strike

WHAT: Air Canada and the union representing 5,200 pilots have reached a tentative four-year deal, dodging a potential strike that was set to take off in just a few days. “After several consecutive weeks of intense round-the-clock negotiations, progress was made on several key issues including compensation, retirement, and work rules. This agreement, if ratified by the pilot group, would officially put an end to our outdated and stale decade-old, ten-year framework,” said Charlene Hudy, chair of the Air Canada Master Executive Council who works as a first officer at Air Canada.

WHY: Industry trade associations had warned that a work stoppage at Air Canada, which carries cargo in the belly hold of passenger planes and on six Boeing 767-300 freighters, would harm agricultural, manufacturing and medical supply chains that rely on air transport to move time-sensitive goods.

🤝 Disney, DirecTV broker satellite TV deal

WHAT: Walt Disney and DirecTV have shaken hands on a deal, bringing college football and other fan-favorite shows back to over 11 million satellite TV subscribers. The deal affords satellite TV subscribers greater choice and flexibility, the companies said in a joint statement.

WHY: The dispute resulted in DirecTV subscribers losing access to coveted programming, including ESPN's carriage of college football games and the U.S. Open tennis tournament. DirecTV subscribers also were unable to watch the ABC News-hosted U.S. presidential debate between Vice President Kamala Harris and Republican candidate Donald Trump on the ABC broadcast network.

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Good morning. US stock futures rose in Friday morning trading as investors look ahead to the Federal Reserve’s upcoming policy meeting.

💰 US household wealth hits new record

📝 Our report: Guess the wealth train is back on track! U.S. household wealth hit a new high of $163.8 trillion last quarter, thanks to booming real estate and a stock market on the rise, according to Federal Reserve data.

 🔑 Key points:

• The increase in the net worth of households and non-profits, which stood at $161 trillion at the end of the first quarter, was driven largely by a $1.8 trillion increase in the value of real estate holdings and a $700 billion gain in the value of equity holdings.

• The snapshot of households' financial wellbeing comes just before the Federal Reserve is widely expected to reduce borrowing costs for the first time since the pandemic recession.

• Policymakers are making the move as inflation has cooled and in hopes of preventing a slowing labor market from worsening, dragging the broad economy down with it.

💡 So what: The rise in U.S. household wealth signals a few key implications for the economy. First, it suggests that many households are benefiting from gains in real estate and stock market values, boosting consumer confidence and spending power. This can help fuel economic growth as people feel more secure in their financial standing. However, it can also widen the wealth gap, as those with substantial investments see greater benefits than lower-income families. Overall, it highlights both positive economic momentum and ongoing inequalities within the financial landscape.

Friday - Consumer Sentiment (prelim)

📈 Jim Simons shares his 10 unique investing insights!

💰 Understanding the 50/30/20 rule of budgeting!

💼 Got a side hustle? Here’s how you can level up!

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🤖 Biden admin, AI leaders meet over industry needs

WHAT: Top Biden officials recently huddled with execs from OpenAI, Google, Nvidia, Microsoft, and other tech heavyweights to chat about the future of AI. White House press secretary Karine Jean-Pierre told reporters at the daily press briefing that the meeting focused on increasing public-private collaboration and the workforce and permitting needs of the industry.

WHY: The emergence of AI holds a mix of promise and peril: The automatically generated text, images, audio and video could help to increase economic productivity but it also has the potential to displace some workers. It also could serve as both a national security tool and a threat to guard against.

🚚 Amazon boosts subcontractor pay to stave off union pressure

WHAT: Amazon is giving its subcontracted delivery drivers another pay bump, likely hoping to keep them happy as union pressures loom larger on the horizon. Drivers who work with Amazon’s Delivery Service Partners, or DSPs, will earn an average of nearly $22 per hour, a 7% bump from the previous average of $20.50, the company said.

WHY: The increase in wages is part of a new $2.1 billion investment the Seattle-based online retailer is making in the delivery program. Amazon doesn’t directly employ drivers but relies on thousands of third-party businesses that deliver millions of customer packages every day.

🦻 Hearing aid software gets FDA approval

WHAT: The U.S. Food and Drug Administration has given the green light for the first over-the-counter hearing aid software designed to work with Apple AirPods Pro. Once installed and customized to the user's hearing needs, the software enables versions of the AirPods Pro to serve as an OTC hearing aid, that is intended to amplify sounds for 18 years or older people with perceived mild-to-moderate hearing impairment, the health regulator said.

WHY: More than 30 million American adults report some degree of hearing loss, which can be caused by aging, exposure to loud noises, certain medical conditions, and other factors.

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Good morning. US stock futures rose in Friday morning trading as investors look ahead to the Federal Reserve’s upcoming policy meeting.

💰 US household wealth hits new record

📝 Our report: Guess the wealth train is back on track! U.S. household wealth hit a new high of $163.8 trillion last quarter, thanks to booming real estate and a stock market on the rise, according to Federal Reserve data.

 🔑 Key points:

• The increase in the net worth of households and non-profits, which stood at $161 trillion at the end of the first quarter, was driven largely by a $1.8 trillion increase in the value of real estate holdings and a $700 billion gain in the value of equity holdings.

• The snapshot of households' financial wellbeing comes just before the Federal Reserve is widely expected to reduce borrowing costs for the first time since the pandemic recession.

• Policymakers are making the move as inflation has cooled and in hopes of preventing a slowing labor market from worsening, dragging the broad economy down with it.

💡 So what: The rise in U.S. household wealth signals a few key implications for the economy. First, it suggests that many households are benefiting from gains in real estate and stock market values, boosting consumer confidence and spending power. This can help fuel economic growth as people feel more secure in their financial standing. However, it can also widen the wealth gap, as those with substantial investments see greater benefits than lower-income families. Overall, it highlights both positive economic momentum and ongoing inequalities within the financial landscape.

Friday - Consumer Sentiment (prelim)

📈 Jim Simons shares his 10 unique investing insights!

💰 Understanding the 50/30/20 rule of budgeting!

💼 Got a side hustle? Here’s how you can level up!

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🤖 Biden admin, AI leaders meet over industry needs

WHAT: Top Biden officials recently huddled with execs from OpenAI, Google, Nvidia, Microsoft, and other tech heavyweights to chat about the future of AI. White House press secretary Karine Jean-Pierre told reporters at the daily press briefing that the meeting focused on increasing public-private collaboration and the workforce and permitting needs of the industry.

WHY: The emergence of AI holds a mix of promise and peril: The automatically generated text, images, audio and video could help to increase economic productivity but it also has the potential to displace some workers. It also could serve as both a national security tool and a threat to guard against.

🚚 Amazon boosts subcontractor pay to stave off union pressure

WHAT: Amazon is giving its subcontracted delivery drivers another pay bump, likely hoping to keep them happy as union pressures loom larger on the horizon. Drivers who work with Amazon’s Delivery Service Partners, or DSPs, will earn an average of nearly $22 per hour, a 7% bump from the previous average of $20.50, the company said.

WHY: The increase in wages is part of a new $2.1 billion investment the Seattle-based online retailer is making in the delivery program. Amazon doesn’t directly employ drivers but relies on thousands of third-party businesses that deliver millions of customer packages every day.

🦻 Hearing aid software gets FDA approval

WHAT: The U.S. Food and Drug Administration has given the green light for the first over-the-counter hearing aid software designed to work with Apple AirPods Pro. Once installed and customized to the user's hearing needs, the software enables versions of the AirPods Pro to serve as an OTC hearing aid, that is intended to amplify sounds for 18 years or older people with perceived mild-to-moderate hearing impairment, the health regulator said.

WHY: More than 30 million American adults report some degree of hearing loss, which can be caused by aging, exposure to loud noises, certain medical conditions, and other factors.

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Good morning. US stock futures fell in Wednesday morning trading as investors looked toward the latest consumer inflation report.

💸 Fed walks back bank capital requirements proposal

📝 Our report: The Federal Reserve is pulling back on its proposal to raise bank capital requirements after lawmakers and the banking industry warned it could stunt lending and slow down the economy. The new proposal would increase capital levels for big banks like JPMorgan Chase and Bank of America by 9% in aggregate, down by half from the original plan from more than a year ago, which set the capital increase to around 19% for those institutions.

 🔑 Key points:

• Banks with assets between $100 billion and $250 billion, which were initially subject to the stricter standards of the largest banks, would also no longer be subject to the increases — other than the requirement to recognize unrealized gains and losses of their securities portfolios in regulatory capital.

• When it was first released more than a year ago, the capital plan was met with immediate disagreement and division among Fed officials, who questioned whether the plan could actually do more harm than good in its initial form.

• The new version of this plan, known as Basel III endgame, comes after months of anticipation after Fed Chair Jerome Powell said as far back as March that the central bank sought "broad material changes" to the initial proposal and was looking to secure a consensus from the Federal Reserve board.

💡 So what: If the Federal Reserve scales back plans to raise bank capital requirements, banks stand to gain several advantages. They’ll have more funds available for lending, which boosts profitability, and can focus on rewarding shareholders through dividends or stock buybacks. This also reduces compliance costs, easing the regulatory burden and allowing banks to operate more efficiently, which enhances their market competitiveness while supporting broader economic growth.

Wednesday - US Consumer Price Index

Thursday - Monthly US Federal Budget

Friday - Consumer Sentiment (prelim)

📈 Legendary investor Seth Klarman shares his 3 investing principles

💳 11 things to consider before getting your first credit card

👩🏽‍💼 These are the toughest interview questions (and some tips to answer them!)

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

📱 Apple’s tax headache…

WHAT: Apple just lost a decade-long legal scuffle with Europe’s top court over taxes in Ireland. Back in 2016, the European Commission asked Ireland to claw back 13 billion euros ($14.4 billion) from the tech giant in unpaid taxes.

WHY: In 2014, the European Commission, the European Union’s executive arm, opened an investigation into Apple’s tax payments in Ireland, the tech giant’s headquarters in the EU. The commission in 2016 ordered Dublin to recover up to 13 billion euros ($14.4 billion) in back taxes from Apple, at the time saying that the tech company had received “illegal” tax benefits from Ireland over the course of two decades.

⚖️ Multiple weight loss drugs coming in years ahead

WHAT: Looks like the race for that “magic pill” is heating up! The weight-loss market is about to get a lot more crowded, with 16 new drugs set to challenge Novo Nordisk and Eli Lilly’s reign, according to Morningstar and Pitchbook analysts. The 16 drugs could launch by 2029, with roughly $70 billion of the GLP-1 market coming from these new challengers the jointly published report said.

WHY: Analysts last year had forecast the obesity market would be $170 billion by 2031, but have recently raised their estimates, partly due to anticipated higher diabetes market penetration.

🚀 SpaceX launches mission for first private space walk

WHAT: SpaceX just launched its Polaris Dawn mission, the first of three missions that billionaire and Shift4 founder Jared Isaacman purchased from SpaceX in 2022 for his human spaceflight effort known as the Polaris Program. The multiday trip is not headed to a destination like the International Space Station, but instead is a free-flying mission tracing orbits that the crew hopes will go far from Earth.

WHY: As a centerpiece to the mission, the crew will attempt to perform the first-ever SpaceX spacewalk. Extravehicular activities, or EVAs, have been a regular part of government astronauts’ missions, but no private venture has attempted an EVA before. The EVA is expected to last two hours from start to finish.

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Good morning. US stock futures dipped in Tuesday morning trading as the major averages rebounded from their worst week in 2024.

💳 US consumer borrowing continues to trend higher

📝 Our report: Looks like the credit card is getting quite the workout! U.S. consumer borrowing surged in July, hitting the highest level since November 2022, with non-revolving debt and credit card balances leading the charge.

 🔑 Key points:

• Total credit outstanding increased $25.5 billion, according to recently releases Federal Reserve data. The gain exceeded all forecasts in a Bloomberg survey of economists. The figures aren’t adjusted for inflation.

• Revolving debt outstanding, which includes credit cards, increased $10.6 billion, the most in five months. Non-revolving credit, such as loans for vehicle purchases and school tuition, surged $14.8 billion in more than a year.

• While Fed policymakers are gearing up to take the first step in reducing their benchmark rate, it will likely take time for their actions to filter through into cheaper financing costs for consumers.

💡 So what: The increase in U.S. consumer borrowing in July, driven by jumps in non-revolving debt and credit card balances, suggests that consumers may be relying more on credit to sustain their spending habits amid inflation and rising living costs. While this might support short-term economic activity, it also indicates a potential rise in household financial strain. Higher debt levels could lead to increased defaults, particularly if interest rates remain high, impacting consumer confidence and reducing future spending capacity. Moreover, as credit card balances grow, consumers may face more difficulty managing their debt, leading to long-term financial instability for many.

Tuesday - NFIB Optimism Index

Wednesday - US Consumer Price Index

Thursday - Monthly US Federal Budget

Friday - Consumer Sentiment (prelim)

📈 Charlie Munger shares these 3 pieces of advice to up your investing game

💰 Everything you need to know about debt settlement

👩🏽‍💼 Are you the youngest manager in the room? Here’s how you can succeed as a young boss!

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🚗 Retail chain files for bankruptcy

WHAT: Big Lots Inc., the discount retailer, has filed for bankruptcy protection and is planning to sell off its assets and business through a court-supervised process. Big Lots sought court protection after suffering from years of declining same-store sales and closing locations. The company listed assets and liabilities of $1 billion to $10 billion in its court petition.

WHY: Big Lots is among a number of troubled retailers that have been hurt by a slowdown in home spending. Retailers Conn’s Inc. and LL Flooring Holdings Inc. also filed bankruptcies in recent months.

💸 Crypto scam losses skyrocket in 2023

WHAT: Crypto scams surged 45% in 2023, racking up over $5.6 billion in losses as scammers gleefully exploited the speed and irreversible nature of digital asset transactions, the FBI reported. "Since cryptocurrencies eliminate the need for financial intermediaries to validate and facilitate transactions, criminals can exploit these characteristics to support illicit activity such as thefts, fraud, and money laundering," the FBI said.

WHY: While crypto transactions are recorded on publicly available blockchains, allowing law enforcement to easily trace funds, often money is transferred quickly overseas, where U.S. officials can encounter obstacles like lax anti-money laundering laws in certain jurisdictions, the FBI said.

📱 Apple launches new iPhone

WHAT: Apple just unveiled the iPhone 16, with CEO Tim Cook announcing it’s been built with AI in mind "from the ground up." The iPhone 16 and 16 Plus will be available in new colors and get a customizable Action button that had only been available on higher-end models, Apple said during a presentation streamed from its headquarters in Cupertino, California.

WHY: Apple is playing catch-up in the world of generative artificial intelligence, where tech peers like Alphabet Inc.’s Google and Microsoft Corp. have made strides.

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Good morning. US stock futures ticked higher in Monday morning trading as Wall Street tried to recover from steep losses to start the new month.

🎵 TikTok to have its day in court

📝 Our report: The fate of TikTok, the viral app flagged as a national security risk by the FBI, could be hanging in the balance, as an upcoming court hearing in Washington, D.C. might just decide whether it gets to stay or faces a digital curtain call. Lawyers for the US Justice Department, TikTok, and a group of the platform’s users are scheduled to argue in court over a US law prohibiting Chinese ownership of the app.

 🔑 Key points:

• TikTok, a subsidiary of tech giant ByteDance, claims that the law, signed by President Biden in April, is unconstitutional.

• The law says ByteDance must divest control of TikTok by Jan. 19 2025, or face a nationwide ban.

• "ByteDance is not owned or controlled by the Chinese government. It is a private company," TikTok CEO Shou Zi Chew testified to members of Congress in a March 2023 hearing.

💡 So what: When TikTok and the U.S. Justice Department face off in court, the stakes could be high for both the app's future in the U.S. and broader issues like national security and data privacy. A ruling against TikTok might lead to a ban or stricter regulations, potentially severing its access to millions of American users, while setting a precedent for how the U.S. handles foreign-owned tech companies. Conversely, a win for TikTok could secure its place in the U.S. market and influence future legal and regulatory battles over privacy, data collection, and foreign influence in tech. The case will be closely watched as it could redefine the relationship between innovation and national security in the tech sector.

Monday - No Major Economic News

Tuesday - US Retail Sales

Wednesday - FOMC Interest-Rate Decision, Fed Chair Powell Press Conference

Thursday - U.S. Leading Economic Indicators

Friday - No Major Economic News

📈 16 rules for investing success according to John Templeton

💰 Thinking about buying a house? Here’s how to save in 7 easy steps

💸 Can you bootstrap your way to business success?

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🤖 OpenAI considers steep subscription price

WHAT: OpenAI is reportedly eyeing a premium ChatGPT subscription plan for businesses that could come with a hefty price tag—up to $2,000 a month. According to the report by "The Information," OpenAI aims to introduce premium tiers that are more expensive but will offer superior functionality and cutting-edge AI models that are still in development.

WHY: ChatGPT already has a paid plan offering quicker responses and some extra features. While the free version will remain for simple queries, this new model may offer something worth paying for – especially for businesses handling complex data and decision-making.

✈️ Air Canada, pilots reach agreement, avoid strike

WHAT: Air Canada and the union representing 5,200 pilots have reached a tentative four-year deal, dodging a potential strike that was set to take off in just a few days. “After several consecutive weeks of intense round-the-clock negotiations, progress was made on several key issues including compensation, retirement, and work rules. This agreement, if ratified by the pilot group, would officially put an end to our outdated and stale decade-old, ten-year framework,” said Charlene Hudy, chair of the Air Canada Master Executive Council who works as a first officer at Air Canada.

WHY: Industry trade associations had warned that a work stoppage at Air Canada, which carries cargo in the belly hold of passenger planes and on six Boeing 767-300 freighters, would harm agricultural, manufacturing and medical supply chains that rely on air transport to move time-sensitive goods.

🤝 Disney, DirecTV broker satellite TV deal

WHAT: Walt Disney and DirecTV have shaken hands on a deal, bringing college football and other fan-favorite shows back to over 11 million satellite TV subscribers. The deal affords satellite TV subscribers greater choice and flexibility, the companies said in a joint statement.

WHY: The dispute resulted in DirecTV subscribers losing access to coveted programming, including ESPN's carriage of college football games and the U.S. Open tennis tournament. DirecTV subscribers also were unable to watch the ABC News-hosted U.S. presidential debate between Vice President Kamala Harris and Republican candidate Donald Trump on the ABC broadcast network.

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Good morning. US stock futures fell in Friday morning trading as investors awaited the latest jobs report.

✈️ US airlines under scrutiny over rewards programs

📝 Our report: The U.S. Transportation Department is digging into the top four airlines' frequent flyer programs to make sure customers aren't getting taken for a ride by sneaky or unfair practices. Transportation Secretary Pete Buttigieg sent letters to American Airlines Delta Air Lines, Southwest Airlines, and United Airlines ordering them to provide records and submit reports answering detailed questions on their rewards programs.

 🔑 Key points:

• Consumers often complain that airlines raise the number of points needed to earn a free flight and limit the number of seats that can be purchased with points.

• Buttigieg said loyalty programs bring value to consumers, and people count on them to pay for vacations and trips to visit family.

• "Our goal is to ensure consumers are getting the value that was promised to them, which means validating that these programs are transparent and fair.” Buttigieg added.

💡 So what: The U.S. Department of Transportation’s investigation into airline rewards and loyalty programs could have significant implications for both consumers and airlines. If the investigation reveals deceptive or unfair practices, airlines may be required to make their frequent flyer programs more transparent and equitable, possibly changing how points are earned, redeemed, or lost. For consumers, this could lead to improved rewards systems with better protections, while airlines may face increased regulation, higher operational costs, or reputational damage.

 Friday - U.S Unemployment Rate, New York Fed President Williams Speaks

📈 Chris Sacca shares his best investing tips!

💰 Everything you need to know about income tax!

🏦 These are the best ways to use a high-yield savings account

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

👷🏽‍♂️ US Treasury Secretary: Labor market still strong

WHAT: U.S. Treasury Secretary Janet Yellen reassured that the U.S. still has a “good healthy labor market,” even if job creation is catching its breath a bit lately. Yellen told reporters in North Carolina that July's unemployment rate of 4.3%, a three-year high, is still very low by historical standards.

WHY: "Even though the pace of job creation has slowed, it is normal and adequate to absorb new entrants into the labor market," Yellen said, adding that growth continues at a rapid pace - 3% in the second quarter - with solid data on consumer spending and investment spending.

🦞 Seafood chain sale approved, to emerge from bankruptcy

WHAT: After months of “endless shrimp” drama and a wave of closures, Red Lobster is about to swim its way out of Chapter 11 bankruptcy protection. A U.S. bankruptcy judge approved the casual seafood chain's reorganization plan and sale to a lender group led by asset manager Fortress. The green light arrives under just four months after Red Lobster filed for bankruptcy protection.

WHY: Red Lobster said that it expects to operate about 544 locations across the U.S. and Canada upon emerging from bankruptcy. That's down from 578 disclosed as of May’s filing.

🖥️ YouTube to roll out AI detection tools

WHAT: YouTube just rolled out AI detection tools to prevent creators from becoming unwitting stars in deepfake videos—protecting faces, voices, and reputations of artists, athletes, and more from being cloned in the digital wild. The company is also moving forward with its promise from last year when it said it would come up with a way to compensate artists whose work was used to create AI music.

WHY: YouTube also stated that it is in the early stages of coming up with a solution to address the use of its content to train AI models. This has been an issue for some time, leading creators to complain that companies like Apple, Nvidia, Anthropic, OpenAI and Google, among others, have trained on their material without their consent or compensation.

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Good morning. US stock futures were mostly flat in Thursday morning trading as investors await key labor market data.

🏗️ Biden admin set to block steel takeover

📝 Our report: US President Joe Biden is gearing up to block Nippon Steel's $14.1 billion bid for U.S. Steel, according to insiders. The proposed deal has been subject to a review by the secretive Committee on Foreign Investment in the United States (CFIUS), and Biden plans to kill it as soon as the CFIUS referral lands on his desk, said the people, who asked not to be identified because the move hasn’t yet been announced.

 🔑 Key points:

• The proposed deal has sparked an election-year firestorm in the crucial swing state of Pennsylvania, where US Steel and the United Steelworkers union that opposes the deal are both based.

• The past two weeks have brought a drumbeat of developments, including a fresh $1.3 billion commitment from Nippon Steel, a commitment to use an American-majority proxy board and a warning from US Steel that the deal’s death may spell the end of some of its plants.

• If the Nippon Steel deal is successfully blocked, the fate of US Steel remains unclear. The company warned that failing to complete the deal would imperil thousands of jobs and force the company to pivot away from some of its legacy blast furnace facilities, including those in Pennsylvania, and potentially even relocate its headquarters from Pittsburgh.

💡 So what: If the Biden administration blocks Nippon Steel's bid for U.S. Steel, the U.S. steel industry could see several impacts. First, it might preserve U.S. Steel as a domestically controlled company, which could be seen as a move to protect national security and maintain American control over a critical industry. However, this could also mean that U.S. Steel misses out on potential capital investment and technological advancements that could have been brought in by Nippon Steel. The block might also signal increased scrutiny on foreign investments in key U.S. industries, potentially leading to a more protectionist environment.

Thursday - U.S Productivity

Friday - U.S Unemployment Rate, New York Fed President Williams Speaks

📈 Venture Capitalist Fred Wilson gives his best business & investing tips!

💰 Are you on track for retirement? Here’s how you can know!

✈️ These 12 steps will help you save on travel!

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🛍️ Nordstrom in talks to go private

WHAT: The Nordstrom family is eyeing a $3.8 billion deal to take their iconic department store chain off the public market and back into the family fold. Erik and Peter Nordstrom, the great grandsons of founder John Nordstrom, and executives at the company, said that they formed a group with other family members and the Mexican department store chain El Puerto de Liverpool, which took a stake in the company two years ago.

WHY: US department stores have been on a downward slide for years, with some executives and investors turning to dealmaking to try to address their woes. Activist investors failed to take Macy’s Inc. private recently after the company rejected their bid.

🟩 Microsoft gets UK greenlight on acquisition

WHAT: Good news for Microsoft: The U.K.'s antitrust watchdog gave the thumbs up to its AI startup acquisition, Inflection, deciding there’s no need for a deep-dive investigation into competition concerns. The Competition and Markets Authority (CMA) said however, that the deal -- reportedly valued at around $650 million -- does fall under its regulatory purview as a "relevant merger situation," meaning similar deals in the future may still be investigated on competition grounds -- even if a full acquisition has not taken place.

WHY: The original Microsoft-Inflection probe constituted one of several similar inquiries announced by the CMA back in April. This included Microsoft’s investment in French startup Mistral AI, with the regulator swiftly concluding that the deal didn’t qualify for investigation under current merger regulations due to the size of the investment.

🖥️ X wins appeal over Cali content moderation law

WHAT: Elon Musk’s platform X won an appeal to partially block a California law that would’ve forced social media companies to spill the beans on how they tackle disinformation, hate speech, and other digital nasties. A three-judge panel of the 9th U.S. Circuit Court of Appeals in San Francisco overturned a lower court judge's decision declining to pause enforcement of the new California law.

WHY: The law requires large social media companies to issue public reports describing their content moderation practices and to provide data on the number of objectionable posts and how they were addressed. Musk sued last year to stop the law from taking effect, claiming it violated speech protections under the U.S. Constitution’s First Amendment.

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Good morning. US stock futures ticked lower in Wednesday morning trading as investors brace for more volatility in September, historically a weak month for equities.

🤖 US DOJ sets sights on AI industry players

📝 Our report: The U.S. Justice Department has subpoenaed Nvidia and others, ramping up its probe into whether the chip giant broke antitrust laws in its AI dominance. The DOJ, which had previously delivered questionnaires to companies, is now sending legally binding requests that oblige recipients to provide information, according to people familiar with the investigation. That takes the government a step closer to launching a formal complaint.

 🔑 Key points:

• Antitrust officials are concerned that Nvidia is making it harder to switch to other suppliers and penalizes buyers that don’t exclusively use its artificial intelligence chips, according to the people, who asked not to be identified because the discussions are private.

• As part of the probe, which Bloomberg previously reported in June, investigators have been contacting other technology companies to gather information.

• Nvidia has drawn regulatory scrutiny since becoming the world’s most valuable chipmaker and a key beneficiary of the AI spending boom. Sales have been more than doubling each quarter, and it’s eclipsed onetime chip leaders such as Intel Corp.

💡 So what: The U.S. Justice Department's decision to send subpoenas to Nvidia and other companies regarding their dominance in the AI space has significant implications. If the investigation uncovers antitrust violations, it could lead to stricter regulations, fines, or even forced changes in how these companies operate. This action signals increased scrutiny on major tech players in the AI industry, potentially affecting the broader tech market and sparking concerns over competition and innovation. Additionally, it may lead to legal battles that could impact Nvidia's market position and influence how AI technologies are developed and deployed across various sectors.

Wednesday - U.S Trade Deficit, Fed Beige Book

Thursday - U.S Productivity

Friday - U.S Unemployment Rate, New York Fed President Williams Speaks

📈 George Soros shares his top investing tips!

🏡 Looking to buy a house? Avoid these 12 house-hunting mistakes!

🧑🏽‍💼 Follow these 9 strategies to get promoted at your job!

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🛍️ Chinese retail brands under scrutiny over safety concerns

WHAT: Two U.S. Consumer Product Safety Commission (CPSC) leaders are urging an investigation into Shein and Temu after "dangerous baby and toddler products" were found on their sites, according to a letter on the CPSC website. Shein and PDD Group's Temu, which both ship cheap merchandise into the U.S. from China, are raising "specific concerns" for the Commission for their use of de minimis, a rule exempting packages valued at $800 or less from tariffs if they are sent directly to shoppers.

WHY: Critics of Shein and Temu attribute low prices and de minimis to Shein and Temu's success in the U.S. Both companies have also come under scrutiny for the quality of their products.

🔨 SEC goes after credit ratings agencies

WHAT: The US Securities and Exchange Commission (SEC) has slapped six credit rating agencies with charges for "serious recordkeeping slip-ups." The agencies are Moody's Investors Service, S&P Global Ratings, Fitch Ratings, HR Ratings de Mexico, A.M. Best Rating Services and Demotech.

WHY: The SEC said the agencies acknowledged that their conduct violated recordkeeping provisions of federal securities laws and agreed to pay combined civil penalties of more than $49 million.

🏠 Airbnb lobbies NYC on short-term rentals

WHAT: Airbnb is urging New York City to rethink its September 2023 short-term rental regulations, arguing they hike prices for travelers and do nothing to improve the housing market. In a blog post, Airbnb said Local Law LL18, which states hosts must be permanent occupants of the units being rented and must register with the city before posting rentals, has "failed to combat the housing crisis".

WHY: Airbnb, citing data from Apartment List, said vacancy rates for apartments in New York City have remained virtually unchanged at 3.4% since the law took effect. Last year, a New York judge dismissed the company's lawsuit against New York City over the local law.

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Good morning. US stock futures fell in Tuesday morning trading as investors mull over the strength of the US economy.

🛑 US set to hit Venezuela with fresh round of sanctions

📝 Our report: The U.S. is prepping fresh sanctions on Venezuelan officials after Nicolás Maduro's controversial July reelection. The Treasury Department is close to announcing 15 individual sanctions on Maduro-affiliated officials who it claims “obstructed the holding of free and fair presidential elections,” according to documents seen by Bloomberg.

 🔑 Key points:

• The measures target key leaders the US says collaborated with Maduro to undermine the July 28 vote, a list that includes members of the electoral authority, Venezuela’s top court, the National Assembly and the intelligence and military intelligence police, known as SEBIN and DGCIM.

• The latest wave of sanctions comes a month after the electoral authority declared that Maduro was reelected for a third consecutive term, despite electoral data published by the opposition that suggested he lost by a wide margin.

• The US is also preparing a separate group of sanctions on top regime financiers, according to individuals familiar with the matter.

💡 So what: If the U.S. imposes new sanctions on Venezuelan officials, it could further strain the already tense relationship between the two countries. Sanctions often lead to diplomatic friction, reducing the likelihood of dialogue and cooperation on various issues, such as energy and regional stability. These actions could also push Venezuela closer to other global powers like Russia and China, which have supported Nicolás Maduro's government, potentially altering geopolitical alignments in the region.

Tuesday - Construction Spending

Wednesday - U.S Trade Deficit, Fed Beige Book

Thursday - U.S Productivity

Friday - U.S Unemployment Rate, New York Fed President Williams Speaks

📈 Everything you need to know about value investing!

💳 This is how long it might take to raise your credit score!

🧑🏽‍💼 Got a job interview coming up soon? These are the best questions to ask an interviewer!

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🗙 Brazil ratifies X ban

WHAT: Brazil’s Supreme Court upheld a ban on Elon Musk's social network X, warning that anyone caught using a VPN to dodge it will face a fine. The site has been suspended since the end of August as order by Justice Alexandre de Moraes. The top-court judge is spearheading efforts to combat fake news and hate speech in Brazil and faces claims of overstepping his bounds by undermining free speech.

WHY: The suspension, according to Moraes’ order, is in effect until the company agrees to block profiles with anti-democratic or criminal content, pays fines imposed so far and names a legal representative in the country.

🚫 SEC challenges defunct crypto exchange’s repayment plan

WHAT: A new court filing reveals the SEC might throw a wrench in FTX's plans to repay users in stablecoins, arguing it reserves the right to challenge crypto transactions. In part, the SEC’s apparent opposition to stablecoin repayments stems from the unclear legality of these transactions under existing securities laws.

WHY: This spring, FTX pledged to repay up to $16.3 billion to users under a new restructuring plan in which it promised to return up to 118% in cash for those owed less than $50,000. However, last month, the SEC indicated in a court document that it had concerns about the FTX repayment plan.

🎵 TikTok parent goes loan hunting

WHAT: TikTok-owner ByteDance is dialing up banks for a $9.5 billion loan, aiming to secure the biggest dollar-denominated corporate facility in Asia outside Japan, according to insiders. Citigroup, Goldman Sachs and JPMorgan are the coordinators of the financing, which carries a tenor of three years and can be extended to up to five years, the sources said.

WHY: Bloomberg News had previously reported that the loan will be partly used to refinance an existing $5 billion facility taken out by the company.

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