|  | Nasdaq | 21,496.54 | |
| | S&P | 6,466.91 | |
| | Dow | 45,631.74 | |
|  | 10-Year | 4.260% | |
| | Bitcoin | $112,513.98 | |
| | Intel | $24.80 | |
| | Data is provided by |  |
*Stock data as of market close, cryptocurrency data as of 1:00am ET. Here's what these numbers mean. | - Markets: Wall Street's late-summer languishing came to an explosive end on Friday, when stocks soared after Fed Chair Jerome Powell all but confirmed a rate cut was coming in September. The Dow scored its first record close of the year, while the slumping S&P 500 popped to notch a winning week. Meanwhile, a new day dawns for Intel, which agreed to give the US government a 10% stake in a highly unusual deal.
| Markets Sponsored by Public.com Ready to take investing seriously? Build a multi-asset portfolio of stocks, bonds, options, crypto, + more with Public. For a limited time, earn a 1% match on all IRA deposits, IRA transfers, and 401(k) rollovers. |
|
|---|
ECONOMY On Friday, the Department of the Interior ordered renewable energy company Ørsted to stop construction on Revolution Wind, its project off the coast of Rhode Island—which is 80% complete. The offshore wind farm got the green light to build in November 2023 from the Biden administration following nine years of review, and is the latest casualty from the Trump administration's war on renewables. What happened: Last week, the Interior Department's Bureau of Ocean Energy Management said it must review the Danish company's project, citing "concerns related to the protection of national security interests." All offshore foundations and 45 out of 65 turbines are already installed, and the project was on track to produce electricity next spring. Once fully operational, the project would power 350,000 homes in Connecticut and Rhode Island. Freezing wind is in the economic forecast Nearly $19 billion worth of renewable energy projects have been canceled this year, a 2,149% increase from last year, according to the Financial Times, citing Atlas Public Policy data. And that's how the Trump administration wants it: - Last week, on Truth Social, President Trump posted, "We will not approve wind or farmer destroying Solar."
- In April, Interior Secretary Doug Burgum temporarily halted New York's $5 billion Empire Wind project, led by Equinor, but changed course after fierce lobbying from Gov. Kathy Hochul.
How's business? The Oceantic Network, a trade group for the renewable energy industry, criticized the Trump administration's move to halt the Rhode Island project for putting American jobs at risk, saying in a statement that Revolution Wind "sparked investments in Louisiana and New England shipyards, the purchase of export cables from a South Carolina factory, and spurred a steel supply chain that crossed New York and created hundreds of union jobs in Providence, Rhode Island." It's also another blow to Ørsted, whose financial health was already declining. Before this news, it was trying to raise $9.4 billion to improve its balance sheet, as doing business in the US got a whole lot tougher in the past year. Zoom out: Wind is the largest source of renewable energy in the US. It provided 10% of the country's electricity in 2023.—HVL | | |
|
|
Presented By AT&T Connected Car Labor Day is for honoring hard work and making time for what matters most: family and loved ones. Whether you're heading out on a memorable road trip or relaxing on a quick weekend getaway, AT&T Connected Car™ keeps you plugged in on the road. With AT&T Connected Car, your family can stay connected, entertained, and safe, no matter where the journey takes you. Stream your favorite music, keep the kiddos entertained with In-car Wi-Fi, and stay productive with reliable connectivity. The connection works both inside and outside of your car, so you won't have to worry about dodgy signals across pit stops, picnics, and picturesque panoramas. Hit the road with confidence. |
|
WORLD  De minimis exemption to end Aug. 29 for many countries, prompting confusion. Germany's Deutsche Post and DHL Parcel Germany, France's La Poste, and Spain's Correos postal services have announced they are temporarily suspending at least some shipments of merchandise from businesses to US customers. The news comes as the de minimis exemption for low-value parcels shipped from international destinations to US consumers goes away for all nations this week—China and Hong Kong were already barred from using it in May. While the move will raise costs for imports, the bigger issue for parcel companies is the increased paperwork, which they will be using the pause on shipments to figure out.
 Keurig Dr Pepper close to buying Peet's, WSJ says. In an exclusive, the Wall Street Journal reported that the American beverage conglomerate wants to slurp up Amsterdam-based JDE Peet's, which calls itself the "world's leading pure-play coffee and tea company," for $18 billion. While the outlet's sources said the discussions "could always fall apart," they also said that the combined entity would split out its coffee unit from its beverage unit—all but prognosticating that the world will never get a Dr Pepper Blackberry Coffee K-Cup.
 And the weekend's box-office winner was...K-pop. A streaming company walked an original film into movie theaters and won the top prize at the box office. That's how the weekend went for Netflix's Kpop Demon Hunters, a sing-along version of the animated film musical by the same name that took over the streaming platform this summer. No. 2 at the box office went to the horror movie Weapons, and the Jamie Lee Curtis-Lindsay Lohan reunion Freakier Friday came in at No. 3. Industry watchers note that Netflix broke its own rule of eschewing wide theatrical releases with this offering. The version on the streamer is currently its second-most-watched movie ever.—HVL
|
|
|
FOOD & BEV Rising prices can be discouraging, but fear not: Family's got your back. Starting today, Olive Garden's Never Ending Pasta Bowl is returning for $13.99—the same price the restaurant has offered the promo at since 2022. Meanwhile, the average US restaurant's food and labor costs are up 35% over the past five years, according to the National Restaurant Association. Making money with lower prices Olive Garden knows some pasta-loving customers may get more than their money's worth, but it's likely part of a strategy to get people in the door, ordering full-priced apps, desserts, and cocktails, Maeve Webster, the president of consulting firm Menu Matters, told CNN. It's not just Olive Garden: Costco has been luring customers in with food for decades, betting people would walk in with a hankering for a hot dog and leave with $300 worth of coffee and paper towels. It's been working. Since 1985: - Costco's stock price has increased nearly 14,000%.
- The price of its $1.50 hot dog and soda combo hasn't changed.
Not-so-steep tea: Despite the difficulties of maintaining consistent prices, some businesses have made it a brand strategy. AriZona Beverages has been selling big cans of iced tea for 99 cents since 1992, and despite new tariffs that raised the price of aluminum, the company's co-founder and chairman, Don Vultaggio, recently told NBC's The Today Show he's doing all he can to keep prices flat.—BC | | |
|
|
Together With Pacaso Learn from this investor's $100m mistake. A Grammy-winning artist passed on investing $200k in an emerging real estate disruptor. It'd be worth $100m+ today. Now, the investors behind Venmo and Uber are backing another real estate disruptor. This time, you can invest. Founded by a former Zillow exec, Pacaso already made $110m+ in gross profits to date. Invest in Pacaso by Sept. 18. |
|
CALENDAR Nvidia earnings take center stage: Q2 earnings season is all but done, but there's still one summer blockbuster to look forward to: Chipmaker Nvidia, the world's most valuable company, reports earnings on Wednesday. Nvidia has ridden the AI rocket to a market cap north of $4 trillion, but lately, it's gotten caught in the trade war between the US and China, which is hampering its growth ambitions. Burning Man lights up the Nevada desert all week: The annual music and arts festival is expected to draw more than 70,000 attendees this year, and if history is any indication, some Silicon Valley movers and shakers may be in attendance, possibly moving and shaking. But despite its popularity among the tech elite, Burning Man has been burning through cash in recent years. The cost of putting the festival on keeps increasing, and ticket sales haven't kept up, according to Business Insider. The event started yesterday and will conclude next Monday. The Big Apple serves up top-notch tennis action: The US Open is swinging through New York this week and next. On the men's side, Jannik Sinner and Carlos Alcaraz are expected to be top contenders to be  king of the hill, top of the list . On the women's side, the betting favorites are Iga Świątek, Aryna Sabalenka, and American Coco Gauff. It's the final Grand Slam tournament of the year. Everything else: - This week marks the 20th anniversary of Hurricane Katrina making landfall.
- Tonight's estimated $750 million Powerball jackpot is expected to be the game's 10th largest ever.
- New home sales data will be released today.
- Tuesday through Saturday, Nobel Laureates meet in Lindau, Germany, to talk about economics.
- The Spanish tomato-throwing festival La Tomatina is on Wednesday.
- US tariffs on Indian exports are set to double on Wednesday, from 25% to 50%.
- Federal Reserve Governor Christopher Waller, the odds-on favorite to replace Jerome Powell as chairman, speaks in Miami on Thursday.
- The personal consumption expenditures price index will offer up fresh inflation data on Friday.
- College football technically started already, but things get properly kicked off this Saturday.
- Summer Fridays may be ending, but Labor Day should help soften the blow. The three-day weekend starts on Saturday.
|
|
|
STAT Nearly 80% of designers for new home communities say formal dining rooms are less important than they were last year, Axios reports. Instead, buyers are looking for more versatility in their square footage—as homes have gotten less affordable. Why have a seldom-used dining room when you can use that area as a guest room/home office/playroom/cardboard-box storage space? Save the eating for the kitchen island and coffee table.—BC |
|
|
Together With Welltech Most workouts burn you out. WalkFit by Welltech builds you up with personalized walking plans, easy at-home workouts, and daily tracking that makes consistency easy. Add in fun challenges and motivation boosters, and you've got a simple, science-backed way to lose weight, get healthier, and actually stick with it. Start today and save 61%. |
|
NEWS - Maryland Gov. Wes Moore and President Trump exchanged words on the internet, with the president threatening to "send in the 'troops'" to Baltimore in a Truth Social post.
- Kilmar Ábrego García returned home on Friday, but was told to report to an ICE detention center in Baltimore today.
- SpaceX called off a Starship test flight yesterday evening due to an "issue with ground systems."
- Private equity is struggling to raise money amid high interest rates and a downturn in dealmaking.
- Daniil Medvedev's US Open match got delayed after a photographer entered the court, leading to prolonged fan booing.
- Jerry Adler, best known for acting on The Sopranos and The Good Wife, died on Saturday. He was 96.
|
|
|
RECS  Decorate: These pillow shams will make your home look like a European chateau.**
Listen: Here's what makes "Born To Run" such a classic. Golden slumbers: Would-be homebuyers are now requesting sleepovers at high-end properties. Brain reset: How to get your mind right when you're always on autopilot. Stay connected: Ready for a long weekend road trip? Stay connected with AT&T Connected Car. Stream music, movies, and work on the go, all from the road. Learn more.* *A message from our sponsor. **This is a product recommendation from our writers. When you buy through this link, Morning Brew may earn a commission. |
|
|
PLAY Turntable: This weekly game disproves the theory that nothing good ever happens on a Monday. Go ahead—give it a spin. Play Turntable here. Hall of Fame trivia This weekend, Maria Sharapova and the doubles legends Bryan brothers were inducted into the International Tennis Hall of Fame, which is located in Newport, RI. Let's see how well you know the geography of other Halls of Fame. We'll give you a Hall of Fame, and you have to name the US city it's located in: - Basketball Hall of Fame
- Pro Football Hall of Fame
- National Museum of Racing and Hall of Fame (referring to horses)
- NASCAR Hall of Fame
- Rock & Roll Hall of Fame
- Country Music Hall of Fame and Museum
|
|
|
ANSWER - Springfield, MA
- Canton, OH
- Saratoga Springs, NY
- Charlotte, NC
- Cleveland, OH
- Nashville, TN
Word of the Day Today's Word of the Day is: prognosticating, meaning "foreshadowing." Thanks to Steve Teget from Nebraska and the dozens of other prescient readers who just knew we'd love the suggestion. Submit another Word of the Day here. |
|
|
✷ A Note From Public.com All investing involves the risk of loss, including loss of principal. Past performance does not guarantee future results. This ad is not a recommendation or offer to buy/sell securities or engage in any investment strategy. Brokerage services for treasuries in a Treasury Account and US-listed securities, options, and bonds in a self-directed brokerage account are offered by Open to the Public Investing, member FINRA & SIPC. Public Advisors and Public Investing are affiliates. Cryptocurrency trading services are offered by Bakkt Crypto Solutions (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative and involves a high degree of risk. Cryptocurrency holdings are not protected by the FDIC or SIPC. For more details, see public.com/#disclosures-main. As part of the IRA Match Program, Public Investing will fund a 1% match of: (a) all eligible IRA transfers and 401(k) rollovers made to a Public IRA; and (b) all eligible contributions made to a Public IRA up to the account's annual contribution limit. The matched funds must be kept in the account for at least 5 years to avoid an early removal fee. Match rate and other terms of the Match Program are subject to change at any time. See full terms here. ✢ A Note From AT&T Connected Car Requires eligible car and wireless service plan. Additional restrictions apply. ✳︎ A Note From Pacaso This is a paid advertisement for Pacaso's Regulation A offering. Please read the offering circular at invest.pacaso.com. Reserving the ticker symbol is not a guarantee that the company will go public. Listing on the Nasdaq is subject to approvals. Comparisons to other companies being for informational purposes and should not imply similar results. |
|
|---|
|
ADVERTISE // CAREERS // SHOP // FAQ
Update your email preferences or unsubscribe .
View our privacy policy .
Copyright © 2025 Morning Brew Inc. All rights reserved.
22 W 19th St, 4th Floor, New York, NY 10011 |
|
No comments:
Post a Comment