Politics Sen. Lindsey Graham Dies at 71 from Aortic Dissection Sen. Lindsey Graham, 71, died from an aortic dissection linked to arteriosclerosis. His sister, Darline Graham Nordone, appointed to fill his Senate term.
AI Musk: AI and Robots Will Bring Universal High Income, Work Optional Elon Musk says AI and robots will make work optional and deliver universal high income. Michael Burry replied ‘False. There will be revolution first.’ Here is the trade angle.
Crypto Trump’s $1.4B Crypto Haul Tops Every US Public Crypto Firm Trump’s 2025 financial disclosure shows at least $1.4B in crypto income, edging out Coinbase’s $1.26B and topping every publicly traded US crypto company on the board.
Markets FIFA weighs 64-team World Cup for 2030 as Infantino floats expansion FIFA President Gianni Infantino says the body will examine expanding the World Cup to 64 teams for 2030, adding another 16 nations and reshaping the tournament's commercial footprint.
Markets Delta CEO: Fares Stay Elevated Even If Jet Fuel Prices Fall Delta CEO Ed Bastian told investors ticket prices will stay elevated even if jet fuel eases, citing labor and structural costs. DAL beat Q2 estimates despite a record $4.4B fuel bill.
Macro US entry-level job market weakest in 37 years as new-entrant unemployment hits 13.3% The share of unemployed Americans who are new workforce entrants hit a 37-year high at 13.3% in 2025, with finance and info services bleeding jobs and AI closing the door on entry-level white-collar work.
Tech Microsoft Hit With Backlash Over 4,800 Layoffs and 2,273 H-1B Approvals Microsoft is facing backlash after cutting 4,800 jobs including 1,600 at Xbox while USCIS data shows the company was approved for 2,273 H-1B hires this year.
Tech Phoebe Gates’ shopping app Phia accused of claiming commissions it didn’t earn Phia, the shopping app co-founded by Bill Gates’ daughter Phoebe, has been accused of ‘cookie stuffing’ to claim affiliate commissions on sales it didn’t generate, leading to suspension from Impact.com.
Markets Costco Has Thousands of Hourly Worker 401(k) Millionaires: CFO Costco CFO Gary Millerchip says many thousands of U.S. hourly workers now have more than $1 million in their 401(k) accounts, powered by high wages, low turnover, and a stock that is up over 2,000% in 20 years.
Politics Pentagon Runs Low on Cash Despite Nearly $1T Budget The Pentagon is running out of cash despite a nearly $1T budget, asking Congress for $67B more as Iran war costs mount and munitions stockpiles run low.
Politics New Mexico AG Accuses DOJ of Stonewalling Epstein Ranch Probe New Mexico AG Raul Torrez says the DOJ is withholding unredacted Epstein files, stalling the state's Zorro Ranch investigation. The DOJ says it responded in June and stands ready to assist.
Markets NYC Adopts First US Click-to-Cancel Rule for Gyms, Streaming New York City adopted a first-in-the-nation click-to-cancel rule, forcing gyms, streamers and other subscription businesses to make cancellation as easy as signup starting October 1, with $525-per-violation penalties.
Geopolitics Trump declares Iran ceasefire ‘OVER’ after strikes in Strait of Hormuz Trump says the US ceasefire with Iran is ‘OVER’ after fresh strikes tied to attacks in the Strait of Hormuz, though talks will continue. Oil is up on the week and tanker traffic has slowed.
Markets Musk: SpaceX Could Be Worth More Than the Rest of Earth Elon Musk says SpaceX could eventually be worth more than the rest of Earth if it hits its multiplanetary goals. The claim followed the Anthropic compute deal and lands with SPCX near $152.
Macro Fed Taps Xbox CEO Asha Sharma for Jobs Task Force Days After 3,200 Layoffs The Fed named Xbox CEO Asha Sharma to co-lead its Productivity and Jobs task force just three days after she announced 3,200 layoffs at Microsoft’s gaming division.
Geopolitics Israel Warns US of Fresh Iranian Plot to Assassinate Trump Israel shared intelligence with the US warning of a new Iranian plot to assassinate President Trump, as the ceasefire frays and strikes resume around the Strait of Hormuz.
Politics Ken Griffin Says He'd Back Rubio Over Vance in 2028 GOP Primary Citadel's Ken Griffin told a Sun Valley audience he'd back Marco Rubio over JD Vance in a 2028 GOP primary, per Axios, highlighting a growing donor split inside the Republican Party.
Markets Burry Goes Long Flutter and DraftKings, Bets Prediction Markets Get Regulated Michael Burry disclosed a full-sized long position split 60% Flutter (~$107) and 40% DraftKings (low $26s), betting prediction markets like Kalshi and Polymarket eventually face regulation and taxation.
Politics California Approves Two New Taxes: Health Premiums and Software Downloads California’s new budget introduces two new taxes for 2027 — a managed care organization levy that will raise health premiums and an expanded sales tax on downloaded software like Adobe, Slack, and TurboTax.
Tech Deadly Bacteria in Cheyenne Water Traced to Meta's $800M AI Data Center A rare, potentially deadly bacterium found in Cheyenne, Wyoming's wastewater has been traced to Meta's $800 million AI data center, prompting new rules and fresh scrutiny of AI infrastructure buildouts.
Markets Americans' Confidence in Capitalism and Democracy Declines Sharply Recent surveys indicate a significant drop in Americans' trust in capitalism and democracy, with potential implications for market stability and investor sentiment.
Macro Nearly Half of U.S. Adults Under 30 Now Live With a Parent: Fed A Federal Reserve survey shows 49% of U.S. adults under 30 lived with a parent last year, up 12 points from 2019. Housing costs, rents, and AI-driven entry-level job cuts are delaying household formation.
Banks FBI, DOJ probe Argentine Football Association over $300M in US bank flows The FBI and DOJ are running a preliminary probe into the Argentine Football Association over roughly $300M routed through Bank of America, JPMorgan, Citi, PNC, and Synovus via a Florida LLC.
Geopolitics US Strikes Iran Railway Bridge Linking to China and Russia US cruise missiles struck the Aq Taqeh Khan railway bridge in northern Iran, damaging a key overland trade corridor to China and Russia as Hormuz shipping traffic collapses.
Markets Raymond James sets Street-high $800 SpaceX price target Raymond James initiated SpaceX (SPCX) with a Strong Buy and Street-high $800 price target, implying roughly 440% upside and a $10.5 trillion market cap.
