Markets United Airlines to Cancel December Flights as Fuel Costs Bite United Airlines will cancel some December flights, with CFO Michael Leskinen citing high fuel costs and thin route margins. Further cuts could extend into early 2027.
Macro Trump calls Canada joining EU as associate member a ‘hostile act’ Trump threatened heavy tariffs or a full trade cutoff with the EU if Brussels makes Canada its first associate member, escalating tension as Ottawa pivots toward Europe.
Real Estate Affordable Apartments Sit Empty as Poorest Americans Priced Out NBC News reports affordable apartments are sitting empty across U.S. cities because the poorest renters still cannot afford them, with Austin vacancies near 16%. The mismatch has implications for apartment REITs and homebuilders.
Macro Young College Grads Face Worst Job Market in 20 Years, Says WSJ College-educated workers ages 22 to 34 are in one of their worst unemployment stretches in 20 years, per WSJ, while non-degree workers see one of their best job markets in decades.
Politics Pentagon Sets Fitness, Grooming Bar for Hegseth ‘State of the Force’ Speech The Pentagon is telling commanders to nominate only troops who pass the Army fitness test, meet the waist-to-height ratio, and show ‘impeccable’ grooming for Pete Hegseth's Sept. 30 State of the Force address, per WSJ.
Energy Diesel Pushes Further Above $6 Per Gallon as Iran War Squeezes Supply US diesel has pushed further above $6 per gallon, hitting a $6.31 national average as Iran war supply disruptions ripple through freight, agriculture, and consumer prices.
Energy US Strategic Petroleum Reserve Hits Lowest Level Since 1982 The US Strategic Petroleum Reserve fell to 285.4 million barrels, its lowest level since November 1982, as drawdowns tied to the Iran conflict continue and crude prices push back above $100.
Macro 30-Year Mortgage Rate Hits 7.24%, Highest Since Early 2025 The average 30-year US mortgage rate climbed to 7.24%, per Mortgage News Daily — the highest level since early 2025, and a fresh headwind for homebuilders and buyer demand.
Geopolitics Iran: Strait of Hormuz Stays Shut Until Trump, Netanyahu Are Out An adviser to Iran’s Supreme Leader says the Strait of Hormuz stays closed until Trump and Netanyahu are removed from power, keeping a bid under the oil risk premium.
Politics Public Notice: McConnell Cognitively Incapacitated, Should Resign Public Notice argues Sen. Mitch McConnell is cognitively incapacitated and should resign, citing freezing episodes, a lengthy hospitalization, and what the column calls a staff cover-up to protect his seat.
Energy Some Gas Stations 'Out of Diesel' as Prices Surge Past $6 Diesel has crossed $6 a gallon nationally with isolated 'out of diesel' signs appearing at stations. Refinery outages and Strait of Hormuz disruption are driving the squeeze.
Politics Vance to Voters: ‘Give Us Another Chance’ as GOP Midterm Polls Slip VP JD Vance asked voters to ‘give us another chance’ on the All-In podcast as Democrats pull ahead in generic ballot polling ahead of the 2026 midterms.
Macro Fed Hikes Rates 25bps to 3.75%–4%, First Increase Since 2023 The Fed raised its benchmark rate by 25bps to 3.75%–4%, the first hike since 2023. The decision was unanimous, with the dot plot pointing to another possible hike this year.
Macro 1 in 6 Young Americans Are Neither Working Nor Studying Nearly one in six Americans ages 16 to 29 is neither working nor studying, and the share keeps rising. Here is what the growing NEET cohort means for the labor market and consumer stocks.
Energy Energy Sec. Wright: Want Lower Gas Prices? Drive Less Energy Secretary Chris Wright says gas prices should ease after Labor Day as summer driving demand fades, even as the national average sits at a record $4.14 amid the Iran war.
Macro Canada Slashes Business Investment Tax Rate to 6.4%, Lowest in G7 Canada is cutting its marginal effective tax rate on new business investment from 13% to 6.4% via a new Productivity Mega Deduction, the lowest in the G7 and less than half the US rate of 16.9%.
Real Estate 59.5% of U.S. Homes Sold Below Asking in August: Redfin Redfin reports 59.5% of U.S. homes sold below their original asking price in August as new listings hit a 6-year high and buyers gain negotiating leverage, especially in Florida and Texas.
Politics Bessent Backs Trump's $5,000 Midterm Check Plan for Americans Treasury Secretary Scott Bessent has endorsed Trump's plan to send $5,000 checks to Americans if Republicans win the midterms. The proposal could cost over $1 trillion and faces Senate GOP pushback.
Geopolitics Iran Denies Trump's Claim It Wants a Quick Deal With the US Iran's Tasnim News denied Trump's claim that Tehran wants a quick deal with the US, keeping the door open to further escalation around the Strait of Hormuz.
Macro 1 in 3 Americans Skipped a Meal to Save Money This Year Roughly one in three Americans have skipped a meal this year to save money, per new NY Fed and Gallup data. The K-shaped economy has clear read-throughs for grocers, discounters, and restaurants.
Markets Gallup: 89% of Americans See Widespread Government Corruption A new Gallup poll reveals a record 89% of Americans believe corruption is widespread in the U.S. government, marking a 20-year high. This perception crosses party lines and shows a significant increase from previous years, diverging from global trends and highlighting a wider gap between perceived…
Markets Cheap used cars fly off lots as affordable inventory shrinks: Edmunds Edmunds Q2 2026 data shows used cars priced $5K-$10K sell in about 25 days, versus 44 days for vehicles above $50K, as affordable inventory keeps shrinking.
Politics DHS ‘PITT’ Unit Reportedly Mines Americans’ Finances to Trigger Traffic Stops A secretive DHS Border Patrol unit called PITT is reportedly analyzing Americans’ financial activity and passing names to local police to trigger pretextual traffic stops, per a 404 Media investigation.
Politics Scotland, Wales, Northern Ireland to Sign Deal Aimed at UK Break-Up Scotland, Wales and Northern Ireland leaders will meet in Cardiff to sign a joint declaration demanding independence referendums, a move that could inject fresh constitutional risk into GBP, gilts and UK-exposed equities.
Macro College ROI Erodes: Grads Skip Degrees, Head Straight to Work More high-school grads are skipping college as the job-finding advantage of a degree collapses and AI eats the entry-level rung. Education stocks face a structural rerating.
