Markets

BofA's Hartnett: Stocks Face 10%+ Drop if Democrats Take Senate

Bank of America's Michael Hartnett warns that U.S. stocks could fall over 10% if Democrats take control of the Senate in the upcoming November midterm elections. This forecast is based on potential impacts to financial deregulation and AI capital expenditure policies, challenging the market's…

Markets

Boomers Are Fueling a Global Travel Boom, per WSJ

WSJ reports wealthy, healthy boomers are leading a global travel boom, skewing spend toward cruises, luxury hotels, and premium airline cabins. Here is the trade read-through.

AI

Anthropic CEO Amodei: AI Could Cure Most Diseases in 5-10 Years

Anthropic CEO Dario Amodei says AI could help cure most human diseases within 5 to 10 years by compressing decades of biological progress. Here is what it means for AI and biotech traders.

Geopolitics

Trump’s Iran war drives US Navy into cash crunch, payroll raided

The US Navy is transferring money from payroll and other accounts to cover the cost of combat operations against Iran, per a Pentagon memo, as the war’s tab tops $35.7 billion.

Politics

Trump Officials Push NPS to Hand Yosemite Strip to Private Developer

Trump officials are pressuring the National Park Service to cede a quarter-mile strip of Yosemite to Kingsbarn Realty Capital, a deal rejected under three previous administrations.

Politics

Florida Grand Jury Finds DeSantis Admin Misappropriated $10M in Taxpayer Funds

A Florida grand jury found that Governor Ron DeSantis’ administration “misappropriated” $10 million in taxpayer money, diverting it from a Medicaid settlement to a charity linked to his wife, which then funneled the funds to political action committees. No criminal charges were filed due to a lack…

Macro

US Corporate Profits Hit Record as Worker Share Sinks to 1950s Low

US corporate profits hit an annualized $4.8T in Q2, 18% of national income and the highest share since WWII, while the worker share of wages and benefits fell to 60%, the lowest since the 1950s.

Markets

General Mills Removes Artificial Colors From All U.S. Cereals

General Mills (GIS) has removed artificial colors from all U.S. cereals, including Lucky Charms and Trix. The full U.S. retail portfolio is set to follow by the end of 2027.

AI

China Secretly Fueling US Data Center Backlash, Per Axios

Axios reports X has flagged roughly 200 accounts from a suspected Chinese bot farm pushing opposition to US AI data centers, adding political risk to the AI capex trade.

Markets

FDA Slaps Class I Recall on Nearly 13,000 Whole Foods Dips Over Salmonella

The FDA has classified a Whole Foods recall of nearly 13,000 dips, salsas and guacamole as Class I, its most serious level, tied to a multistate Salmonella outbreak in jalapeños from Coast Citrus Distributors.

Markets

John Morgan: $30M and a Paid-Off House Is ‘Set for Life’

Billionaire attorney John Morgan says $30 million invested plus a paid-off house is the true ‘set for life’ number, citing a 4% withdrawal for $1.2M a year. The math is drawing sharp pushback online.

Markets

Mark Cuban: Companies Must Share Wealth or Pay Higher Taxes

Billionaire Mark Cuban proposes a new tax policy: companies must offer equity to all employees or face higher corporate taxes. This aims to combat wealth inequality by aligning employee and founder interests, potentially impacting corporate compensation strategies and market valuations.

Tech

Trump Weighs New Sweeping Tariffs on Semiconductors, Report Says

The Trump administration is reportedly weighing a new round of sweeping tariffs on semiconductors, with the plan possibly extending to laptops, servers and gaming consoles that contain foreign chips.

Politics

Newsom Says He ‘Didn’t Even Know’ About 5,000-Bottle Wine Cellar at $7.5M Home

Gavin Newsom says he was unaware of the 5,000-bottle wine cellar at his $7.5M Sacramento-area mansion, now listed for sale as he preps an expected 2028 White House run.

Macro

Grocery Anxiety Jumps: 41% of Americans Worried About Food Costs

AP-NORC polling shows 41% of Americans are worried about affording groceries in the coming months, up from 24% in April. Trade-down and BNPL trends put WMT, KR, COST, DG, and AFRM in focus.

Macro

Wages Fall to 43% of U.S. Gross Domestic Income, Lowest Since 1929

U.S. wages and salaries fell to roughly 43% of gross domestic income in Q1 2026, the lowest labor share since 1929. Structural forces — automation, globalization, and capital-light tech — keep pushing the split toward capital.

Politics

White House Renames Lake Ontario to ‘Lake America’ Amid Canada Trade Tensions

The White House has officially renamed Lake Ontario to “Lake America” via executive order, escalating trade tensions with Canada. This move follows a similar renaming of the Gulf of Mexico and comes amidst new tariffs, impacting U.S.-Canada relations and potentially affecting various market sectors.

Politics

Florida Becomes First State to Block Welfare Cash on Tattoos, Vapes, Theme Parks

Florida is the first state to bar TANF cash-assistance spending on tattoos, theme park tickets, video games, vapes and other non-essential items, with the Trump administration urging other states to adopt the same framework.

Markets

Americans Spend Record Share on Hobbies as Savings Rate Slips

Hobby categories are at a record share of US goods consumption, beating pandemic highs, per Bloomberg. But the savings rate just hit a three-year low.

Markets

SEC subpoenas Goldman, JPM, Citi, BofA over Situational Awareness collapse

The SEC has subpoenaed Goldman Sachs, JPMorgan, Citigroup and Bank of America over their role financing AI hedge fund Situational Awareness, which nearly collapsed in July after a leveraged chip trade blew up.

Geopolitics

Iran: Strait of Hormuz Stays Shut Until U.S. Blockade and War End

Iran says the Strait of Hormuz will stay closed until the U.S. lifts its naval blockade and the war, including fighting in Lebanon, permanently ends. Energy, tankers, and defense names back in focus.

Geopolitics

US Allies Warn Strait of Hormuz Still Mined, Doubting Trump’s Claim

US allies are privately warning the Strait of Hormuz is still likely mined, disputing Trump’s claim that the Navy has cleared all Iranian explosives. Energy and shipping tickers stay in focus.

OnlyFans Reports Over 5,000 Millionaire Creators

OnlyFans has revealed that 5,076 creators on its platform have earned over $1 million since its launch in 2016. This figure underscores the significant wealth generation potential for a segment of content creators within the digital economy. The Creator Economy’s Top Tier The company, which takes a 20%

Politics

U.S. to Revoke Up to 200,000 Business and Tourism Visas in Largest Purge Ever

The State Department is preparing to revoke up to 200,000 business and tourism visas tied to asylum seekers, in what AP calls the largest mass visa revocation in U.S. history.

Markets

92% of Americans have delayed or skipped medical care over cost: survey

A JG Wentworth survey found 92% of U.S. adults have delayed or abandoned medical care because of cost, with 94.2% of those aged 18 to 28 putting off treatment. Watch insurers, pharmacies and hospitals.