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.
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.
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.
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.
Markets Gen Z Is Moving Money From Stocks to Sports Betting: Bloomberg A Betterment survey covered by Bloomberg shows 52% of Gen Z investors have moved money from stocks into sports betting, with 26% calling it part of their wealth strategy. Watch DKNG, FLUT, MGM, and HOOD.
Real Estate Miami Tops U.S. Buyer's Markets With 154% More Sellers Than Buyers Redfin says Miami is the strongest U.S. buyer's market with 154% more sellers than buyers in July, as national homebuyer counts fall to a record low.
Macro Canada Braces for Long Trade War, Sees No US Talks Before Midterms Canada sees little chance of resuming trade talks with the US before the midterms and is preparing domestic aid to ride out Trump’s term after negotiations collapsed.
Politics Trump Administration Pauses All US Immigrant Visa Applications Worldwide The Trump administration has paused all US immigrant visa applications worldwide, citing consular officer retraining and tighter public charge screening. Interviews have been postponed globally.
Markets Fidelity: 401(k) millionaires hit record 595,000 accounts Fidelity says 401(k) millionaire accounts hit an all-time high of 595,000 in Q2, up 16% from Q1, as average balances set records and savers stayed the course through market turbulence.
Markets Daily Marijuana Use Now Tops Daily Drinking and Smoking in US Federal survey data shows 21.4 million Americans now use marijuana daily or near-daily, topping daily drinkers (17.2M) and daily smokers (19.9M). The substitution trend has real implications for cannabis, alcohol, and tobacco stocks.
Markets Moderna Soars on Melanoma Vaccine Win — Even Trial Patients Bought MRNA Moderna and Merck's personalized mRNA melanoma vaccine hit its Phase 3 endpoints, sending MRNA shares up as much as 145%. Even trial participants are reportedly buying the stock.
Macro Treasury may tap $1T cash account to fund bond buybacks: CNBC The Treasury is weighing whether to tap its roughly $1 trillion General Account to fund expanded bond buybacks, per CNBC, with 10- and 30-year yields easing on the report.
