CWS Market Review – August 18, 2026
Posted by Eddy Elfenbein on August 18th, 2026 at 6:16 pm

(This is the free version of CWS Market Review. If you like what you see, then please sign up for the premium newsletter for $20 per month or $200 for the whole year. If you sign up today, you can see our two reports, “Your Handy Guide to Stock Orders” and “How Not to Get Screwed on Your Mortgage.”)

Is the Bond Market Reaching Its Breaking Point?

The stock markets got roughed up today. The S&P 500 closed below 7,700 for the first time in two weeks, and the Nasdaq was down nearly twice as much as the S&P 500.

But the drama wasn’t so much in the stock market as it was in the bond market. At one point today, the yield on the 30-year got to 5.3%. That’s the highest it’s been in 19 years. The 10-year yield is at its highest since 2025.

What appears to be happening is that bonds are falling so yields are rising, but the Fed is backing away from higher rates. There’s a disconnect, or maybe the market is challenging the Fed to reverse course.

It’s not just here – this appears to be a global bond market rout. Yields are higher in Europe and Japan. Germany floated some 30-year bonds today at the highest yield in 15 years.

Countries around the world are shifting their borrowing to the short end of the yield curve on hopes that rates will soon come down. One issue is that yields may not come down.

What’s driving all this? One key culprit is the tech sector. The AI companies have been turning to the bond market to raise tons of cash to finance their new projects. There’s a point in any bubble where a company has to wonder if it should work to build out new facilities or just write a check and buy out some emerging company.

As is often the case, most investment bubbles aren’t bubbles in the actual sector. Instead, they’re credit bubbles. How long will the bubble last? That’s easy. It will last as long as banks are willing to fund it. Right now, the AI sector borrowing has to compete with heavy government borrowing from … well, almost everywhere.

My friend Gary Alexander has some remarkable stats. Consider that in July 2026, Uncle Sam ran up a larger monthly deficit that any yearly deficit before 2008. Last month, the government took in $1,000 per person in tax revenue, but it spent $2,300 per person.

The day before the U.S. bombed Iran, the 10-year Treasury yield was at 3.95%. Now it’s at 4.75%. The Congressional Budget Office now projects that the deficit for this year will be $2.1 trillion. It would be rude of me to point out that 25 years ago, the CBO thought the entire debt would be wiped out by 2011. Now the CBO sees the debt reaching $40 trillion sometime next month.

A 60-day truce between the United States and Iran ended yesterday but we don’t seem to be any closer to a diplomatic resolution. President Trump posted an image of the Strait of Hormuz and called it a “New U.S. Territory.” There’s a saying in the field on national security that “the enemy gets a vote.” The same can be said for the bond market.

Today’s market drop is weighing heavily on many tech stocks, especially semiconductor stocks. For example, Micron (MU) and Intel (INTC) were both down over 7%.

This is a continuation of the trend that started nearly three months ago of conservative stocks outperforming more aggressive stocks. The Nasdaq was down more than 1% today, nearly twice the loss of the S&P 500.

I’m glad to see that many of our Buy List stocks are holding up well. In fact, we own the two top-performing stocks in the S&P 100 today, Adobe (ADBE) and Intuit (INTU). This is an interesting time for us because Intuit is scheduled to report its fiscal Q4 earnings on August 25. The stock has been rallying back over the last few weeks.

Intuit is the company behind TurboTax and QuickBooks and Credit Karma. In its last earnings report in May, Intuit said its global revenues rose 10% to $8.6 billion, and its earnings rose 10% to $12.80 per share. Wall Street had been expecting earnings of $12.57 per share. Inuit also increased its dividend by 15% to $1.20 per share.

For its Q4, which ended on July 31, Inuit expects earnings between $3.56 and $3.62 per share. They should easily beat that. For the full year, Intuit sees earnings coming in between $23.80 and $23.85 per share. That’s an increase from the previous range of $22.98 to $23.18 per share. I’m expecting a good report from Intuit.

The economy has had a run of sub-par news recently. This month’s jobs report wasn’t so hot. The inflation report came in low. Last Friday’s retail sales report was a big miss. Wall Street had been expecting a gain of 0.1%. Instead, it was a loss of 0.6%. If we look at the numbers excluding autos, then it’s still negative. The “core” retail sales number was expected to be up by 0.3%. Instead, it was down by 0.4%.

This morning, the Federal Reserve said that industrial production rose by 0.2% in July. That followed a 0.3% increase for June. For Q2, manufacturing rose at the fastest pace in five years.

I wouldn’t say that a Fed rate hike next month is off the table, but it’s getting there. Futures traders now place the odds of a September rate hike at 35%. As a reminder, in late July, the odds for a hike in September were close to 100%. Not anymore. For October, it’s at 47%. In fact, there’s a reasonable chance that the Fed won’t touch rates for the rest of this year.

Soon You’ll Be Able to Trade the Nasdaq 23 Hours a Day

Good news for investors. This week, the Nasdaq said that in December it will inaugurate overnight trading. Beginning on December 6, the Nasdaq will trade 23 hours a day.

This move still needs approval from the SEC, but if it works, that means that the market will be open almost nonstop from Sunday evening to Friday evening. The Nasdaq already has trading in after-hours markets but that’s limited to institutional investors. With the new proposal, everyone gets a chance.

I think the other exchanges will follow suit. The issue with market hours is that if some big event breaks out when markets are closed, that adds huge pressure on the markets once we reach the opening bell. Nonstop trading should hopefully reduce some of those fears.

The new schedule will look like this:

• Night Session: 9:00 pm – 4:00 am ET (Sunday – Thursday nights)
• Pre-Market & Regular Hours: Existing sessions from 4:00 am to 8:00 pm ET remain unchanged.
• Daily Maintenance Break: A one-hour pause from 8:00 p.m. to 9:00 p.m. ET for system upkeep and trade clearing.
• Weekly Span: From 9:00 p.m. ET Sunday to 8:00 p.m. ET Friday.

There will be other restrictions. For example, certain order types (like market orders and specific opening/closing instructions) will not be supported overnight. Also, any unexecuted overnight orders left over at 4:00 am will be canceled. Static price bands will reject orders submitted outside specified boundaries.

This is very good news for investors, and it probably should have come a long time ago.

That’s all for now. Tomorrow, the Fed will release the minutes from its last meeting. This could be interesting. I’ll have more for you in the next issue of CWS Market Review.

– Eddy

Morning News: August 18, 2026
Posted by Eddy Elfenbein on August 18th, 2026 at 7:09 am

US, Canada Barrel Toward 50% Tariff as Trump Deadline Approaches

It’s Crunchtime Again for Canada to Avoid New U.S. Tariffs

Mexico Is Pushing a Cargo Route on Land Avoiding Panama Canal

Global Bond Slump Sends Long-Term Borrowing Costs to Highest in Decades

Yardeni Says Not Pushing Panic Button on Bond Yields Yet

Why DOGE Failed to Cut Washington Down to Size

‘National Debt Disaster’ Is the Most Priced Narrative In Markets

AI Election Backlash Is Shaping Wall Street’s Stock Market Views

Goldman Strikes Deal to Buy LCN to Become Hands-Off Landlord

An Astounding Crypto Future Is Held Down by 20th Century Law

‘Buy Now, Pay Later’ Lenders Pitch Loans for Needs Like Electricity and Rent

Millennials Feel Good About Their Finances and the Data Show Why

India’s College Boom Is Leaving Graduates in Debt and Without Jobs

LinkedIn Users Are Rewriting the Past to Land Their Next Jobs

Coops Work – So Why Aren’t We Utilizing Them More?

Why Do Boards Keep Giving Misbehaving CEOs Second Chances?

The Crucial Moment That Companies Miss After They Oust a CEO

Nvidia to Back Ohio Data Center With as Much as $105 Billion

Sick of A.I. Slop? So Are Tech Giants

Why China’s Affordable AI Is a Worry for Silicon Valley

AI’s Lucrative Jobs Boom Is Leaving Women Behind Globally

China Removes Microsoft Windows at State Users Ahead of Plan

Humanoid Robots Need a Supply Chain in North America

Meta Stares Down Trillion-Dollar Threat as Landmark Social Media Trial Begins

Costco Sells Vacations, Gas and, Soon, Medicare Plans

Target Bets Shoppers Want to Buy Trendy Snacks and Drinks in Grocery Revamp

Home Depot Posts Higher Sales, Backs Outlook

Chinese AC Makers Cash In on a Sweltering Summer

Paramount Wants $1.88 Billion Bond From States, Writers Challenging Warner Deal

The Web of Hidden Deals That Snared the Dodgers Owner in a Federal Probe

Mark Walter’s Insurer to Slash Scrutinized Loans by $6.5 Billion

The Diamond Industry’s Old Guard Wants You to Buy ‘Natural’

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Morning News: August 17, 2026
Posted by Eddy Elfenbein on August 17th, 2026 at 7:03 am

Behind Peace Talks, Iran Hard-Liners Prepare for a Longer, Costlier U.S. War

Trump Threatens to Bomb Oman If It Gets in Way of US

That $100 Tank of Gas is a Problem for the GOP

How a False Nuclear Claim About Iran Ricocheted From India to Washington

China’s Economy Weakens on Several Fronts as Property Bust Worsens

German Companies Cut US Investment to Three-Year Low

Banks Cheer as Trump’s Regulatory Rollback Spreads to Europe

Beware, Broad Semiconductor Tariffs Would Make Everything More Expensive

Bonds Face Bigger Threat Than the Fed as Global Rates Climb

Dollar Falls Sharply as Prospects Dim for Fed Rate Rise

The Fed Can’t Provide ‘Price Stability,’ Nor Would It Be Desirable

AI Is Driving Up Treasury Yields: ‘It Just Touches Everything’

Gen Z Is Mistaking Sports Betting for Investing

Emerging Markets March Out of ‘Valley of Tears’ As Investors Diversify

The Beatings Will Continue Until Consumer Sentiment Improves

Skyrocketing Beef Prices Finally Have Americans Reaching Their Spending Limit

AI Giants Will Earn $1 Trillion This Year. It May Not Be Enough

Nvidia Looks to Wall Street to Finance Pricey Chips for AI Build-Out

With A.I. Riches at Stake, Pressures Mount to Share the Wealth

An AI Pause Will Not Make the Technology Safer

Big Manufacturers Find New Demand in Equipping AI Data Centers

How These Farmers Became the Face of the Data-Center Resistance

Washington Turned Apple’s Memory Problem Into a Loyalty Test

Advice That CEOs and Founders Have Ignored, for Better or Worse

How to Make a Robot Better at Its Job? Give It Eyes

Madison Air to Buy Airflow-Technologies Company for $5.4 Billon

China Hunts for Scientific Talent. The U.S. Is Making It Easier

Alibaba to Sell Videogame Business for at Least $1.5 Billion

‘I Hate Losing’: Walter Rushes Makeover as DOJ Probes His Empire

The Cutthroat Wearables Battle Is About More Than Tracking Your Fitness

How Burger King Revamped Its Whopper and Overtook Wendy’s

American Luxury Brands Have a Secret Weapon: $12 Tennis Socks

K-Beauty Has Conquered the World. China’s Proya Wants C-Beauty to Be Next

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Morning News: August 14, 2026
Posted by Eddy Elfenbein on August 14th, 2026 at 7:02 am

US Readies Unprecedented ‘Economic Isolation’ Plan for Iran

Trump Announces Drone Tariffs to Bolster U.S. Supply Chains and Counter China

White House Says China Avoids Billions in Tariffs by Rerouting Goods

There Aren’t Enough Ships to Handle China’s Booming Car Exports

BAE Systems Fined $36 Million for Illegal Exports

Carry Traders Are Exploiting Intervention to Rebuild Yen Shorts

Costliest US Bond Sale Since 2001 Is Investor Warning to Bessent

Trump’s ‘Golden Age’ Economy Pitch Fizzles With Midterm Voters

Small Businesses Despise Trump’s Tariffs — For Good Reason

US Retail Sales Fall by the Most in More Than a Year

US Saving Gets Closer to a Record Low in Challenge for Spending

Stagflation, the Scourge of the 1970s, Is Back

‘FOMO Insurance’ Drives Options Buying Spree as Stocks Rally On

Regulation Won’t Prevent the Next Financial Panic

The Jobless Boom Has Arrived

“Honoring” Lindsey Graham With Tax Hikes Is Abjectly Foolish

Trump’s Expansion of Executive Privilege Would Invite More Corruption

History Rhyming Once Again As a 1922 Satire Becomes Reality

Culture Clash: How Orcel’s Profit-Boosting Recipe Could Prove a Bitter Pill for Commerzbank

Mark Walter Dangled Guggenheim Stake to Quickly Secure Loans

Kalshi Ordered to Cease Most Operations in Washington State

How Pennsylvania Got Hooked on Games That Look a Lot Like Slot Machines

The $121 Billion in One-Time Gains Boosting Big Tech’s Profits

OpenAI’s Annualized Revenue Tops $40 Billion Ahead of IPO

The Robots Have Stolen Your Summer

Charter Gets Final State Approval for $21.9 Billion Cox Deal

As Wildfires Get Worse, California Needs to Face Reality

How ‘Super El Niño’ Adds Fuel to the Climate Fire

Is Lettuce Safe? Probably. Will Cyclospora Spur Change? Hopefully

It’s Never Been More Annoying and Expensive to Be a US Sports Fan

Pet Owners Want Cats and Dogs to Live Forever. Enter Anti-Aging Drugs and Peptides

Crafts and Hobbies Are Winning the Battle for Americans’ Paychecks

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Morning News: August 13, 2026
Posted by Eddy Elfenbein on August 13th, 2026 at 7:05 am

Trump Pivots to Economic Squeeze of ‘Entrenched’ Iran Regime

Gulf Oil Giants Are Spending Billions to Build Ways Around Strait of Hormuz

For the Oil Market, the Strait of Hormuz Isn’t Closed

Why Europe Is Struggling to Build Its Gas Stocks Before Winter

US Fuel Prices Will Stay Painfully High for a While

Iran to Join BRICS Development Bank Soon, Central Bank Governor Says

Japan’s Government Is Said to Support Faster BOJ Rate Hike

The $20 Burrito Debate Is a Sign of Inflation Fatigue

The US Economy’s Risky Reliance on Share Gains

Tariff Refunds Are Here—and Turbocharging Earnings

Treasury Scales Back Scrutiny of U.S. Shell Companies

The Tax Code Wasn’t Built for the Age of AI, Says Yale Budget Expert

Trump’s 401(k) Proposal Shows Evidence of Phony Public Support

This Federal Program Is So Effective, the White House Can’t Stand It

Let’s Talk About Cash…

Retirement Is Better Than Ever As Retirees Work Longer Than Ever

When Texas Cools on Data Centers, Big Tech Has a Problem

Workers Are Teaching AI-Powered Robots to Take Over Their Jobs

America Wants to Make Its Own Humanoid Robots. That Won’t Be Easy

North Koreans Use Stolen IDs, AI to Land U.S. Jobs—and Funnel Millions to Kim’s Regime

Banning Open-Weight AI Models Could Cost America the AI Race

Elon Musk Should Skip the Telecom War, and Win the AI Race

SpaceX Passes First Lockup Expiry Test With $500 Billion Rally

How the Toppling of An Auto Parts Maker Sapped U.S. Manufacturing

Americans Love the Roar of a V-8 Engine—and They Don’t Want to Give It Up

Dispute Over Counting Forest Carbon Roils Global Standard-Setter

Meta Faces Big Tobacco Moment in Attorneys General Trial

Iger and Kushner Landed Lakers Deal in a Day, No Bankers Needed

Inside the $12.5 Billion Deal for the Lakers

The Improbable, Inevitable Return of the Suit

The Optimization Backlash Has Begun

Freezer Pops, Sports Drinks Go Colorless as Natural Dyes Prove Tricky and Expensive

China Brought 90-Second Microdramas to the US. Now Hollywood Wants In

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Morning News: August 12, 2026
Posted by Eddy Elfenbein on August 12th, 2026 at 7:08 am

Economics 101 Explains Global Food Affordability Challenges

Norway Wealth Fund Posts Record $184 Billion Profit in First Half of 2026

Why Japan Is Struggling to Prop Up the Yen, Even With US Help

Bessent-Takaichi Divide on Optimal BOJ Path Threatens Yen Rescue

Benign Inflation Data Would Reduce Urgency Around September Rate Rise

Return to the ‘Trust Us’ Days of Central Banking? No Thanks

Opposite What Elon Musk Contends, Money Won’t Die of Abundance

US Consumer Prices Rise In Line With Forecasts for July

As Credit Card Debt Mounts, Home Becomes a Piggy Bank

College Grads Struggle to Find Jobs. Non-Grads Are Giving Up

Goldman Sachs to Acquire ETF Provider Neos in $2.3 Billion Deal

New York City Launches Sweeping Investigation Into Polymarket and Kalshi

Governments Don’t Spare Us “Chernobyl Moments,” They Create Them

Congress Should Leave the Railway Safety Act at the Station

Heat Wave and Solar Eclipse Send Europe Power Prices Soaring

Energy Prices Expected to Fall in Latest Inflation Data

Energy Startup Raises $750 Million for Rust-Powered Batteries

AI Giants Are Quiet on Climate in Sign of Post-ESG Wall Street

Foxconn Ramping Up Global AI Server Production to Ride Booming Cloud Investment

AI Spending Snuffs Out Tencent’s Profit-Growth Run

CoreWeave Shares Soar After Booming AI Demand Boosts Outlook

Don’t Buy Zuckerberg’s ‘Good Guy of AI’ Act

NIMBYism Could Save AI From a Bust Like the Dot-Com Era

Jumia Wins IFC, Axian Backing in $50 Million Equity Fundraising

Human-Shaped Robots at This Car Factory Can Perform Humanlike Tasks

G.M.’s ‘Car Guy’ Talks Electrics, China and Nepotism

Tata Group Erases $4.5 Billion in Value as Chairman Plans Exit

Lilly Escalates Its Fight Against Black Market Weight-Loss Shots

How Trump’s Vaccine Plan Puts More Children at Risk

Colombia Coffee Exports Largely Halted After Deadly Earthquake

David Ellison Floats Hollywood Exit as States Threaten His Warner Bros. Deal

Suno Says AI Is the Future of Music. Record Labels Say It’s Theft

‘Call Her Daddy’ Host Alex Cooper Raises Money at $500 Million Valuation

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CWS Market Review – August 11, 2026
Posted by Eddy Elfenbein on August 11th, 2026 at 6:07 pm

(This is the free version of CWS Market Review. If you like what you see, then please sign up for the premium newsletter for $20 per month or $200 for the whole year. If you sign up today, you can see our two reports, “Your Handy Guide to Stock Orders” and “How Not to Get Screwed on Your Mortgage.”)

The U.S. Economy Lost 23,000 Jobs Last Month

Last Friday, the S&P 500 closed at a new all-time high of 7,757.64. Although the index did wander above that level on Monday and Tuesday, it wasn’t able to close at another new high. Since its recent low on March 30, the market has rallied more than 22%.

Will the rally continue? That’s hard to say, but we do know that the labor market has hit a rough patch. On Friday, the government released its jobs report for July, and it wasn’t very good. The report said that the U.S. economy unexpectedly lost 23,000 new jobs last month. Wall Street had been expecting a gain of 83,000.

The losses were driven by a drop of 53,000 government jobs. The jobs number for June was revised downward by 20,000, and the figure for May was lowered by 66,000.

Despite the number of jobs lost, the unemployment rate fell to 4.1%. That was partially due to fewer Americans looking for work. The labor force participation rate fell to 61.4%. That’s the lowest participation rate in five years. Except for Covid, this is the lowest labor force participation rate in 50 years.

Here are some more details from the report:

The drop was led by a 50,000-job decline in local government education and a loss of 19,000 retail jobs. Financial activities also posted a fall of 14,000 and leisure and hospitality lost 40,000, a possible consequence of the World Cup tournament ending.

Healthcare, which has been the leading sector for job creation, rose by 22,000, which was below its 12-month average of 36,000. Construction also saw an increase of 22,000.

Private payrolls did increase for the month, up 30,000 as government jobs declined by 53,000.

While jobs held flat, worker pay also saw virtually no gain during the month. Average hourly earnings increased by just 2 cents, bringing the 12-month average down to 3.2%, below the forecast increase of 3.5% and the lowest since May 2021.

That last part concerns me. The U.S. economy can run past just about any disruption, assuming worker pay continues to rise. If not, that means fewer shoppers which means lower revenue for businesses. Right now, average hourly earnings are barely keeping pace with inflation. Nearly all the wage gains folks are getting are eaten up by inflation.

Here’s a look at the dwindling pace of job creation:

We’ll learn more tomorrow when the government releases the CPI report for July. For July, Wall Street expects headline inflation to be up by 0.1% and core inflation to be up by 0.2%.

Last week, the Federal Reserve voted to keep interest rates unchanged. However, there were three dissenting votes from members who wanted to raise rates immediately. The recent jobs report isn’t helping them make their case.

The Fed’s next meeting is scheduled for mid-September, and futures traders are evenly split. Half are expecting a 0.25% rate increase while the other half expects rates to stay the same. Not too long ago, a September rate hike was widely assumed. Not anymore.

For the October meeting, the odds of a rate hike have risen to 63%. There are still a lot of doubters out there. It’s very possible that over the next year, the Fed votes to hike rates only one or two times.

Michael Burry Versus Palantir

You may be familiar with the name of Dr. Michael Burry. He’s a hedge fund manager who spotted the subprime mortgage crisis and profited enormously from the wreckage in the financial system. Burry was featured in both the book and movie The Big Short.

He’s had a new target in the form of Palantir Technologies (PLTR). Burry thinks the stock is overvalued. Very, very overvalued. Burry has said that over the long term, Palantir will be less than $1 per share. He’s been betting against Palantir since last year.

I must credit Burry for putting his money where his mouth is. He’s bought March 2027 put options in the mid-$100 range. Burry has already covered some of his short positions at $107, but he has opened it up again.

Is Palantir over-priced? Of course it is. PLTR is going for about 100 times cash flow. That’s nuts, but Wall Street loves nutty things. As we know, just because something is overpriced doesn’t mean it can’t or won’t become even more overpriced. Burry also points to a growing number of off-balance sheet items.

Burry had been running a hedge fund called Scion Asset Management which he later shut down. Now Dr. Burry mostly communicates with investors via his Substack, Cassandra Unchained.

Burry has criticized the high valuation of many AI stocks, but he’s been particularly critical of Palantir. He’s also criticized its business model and even its management team. He’s also highlighted the stock-based compensation that Palantir has used.

The problem for Burry, and his legions of followers, is that Palantir is doing very well. In its recent Q2 earnings report, PLTR said its revenues nearly doubled to $1.9 billion. The demand is being driven by heavy demand for its Artificial Intelligence Platform (AIP).

Over the last 12 months, Palantir has made about $3 billion on revenue of $6 billion. The company has a net margin of close to 50%. For this year, the company expects revenues of $8.1 billion and operating income of nearly $5 billion. The company has a ton of cash and zero debt.

Of course, Burry doesn’t need PLTR to fall to $1 to make a huge amount of money. Even if it gets to $100 or so, he’ll make a nice haul.

Palantir’s CEO Alex Karp has called the short position “super weird” and “batshit crazy.” (My apologies for the crude language, but this is Wall Street.)

Burry’s short bet has been highly volatile. Last Tuesday, the stock jumped more than 30% on very strong earnings. The stock has also done well after being praised by President Trump on Truth Social. At one time, the stock has been down more than 40% on the year. As of right now, it’s nearly flat on the year.

What’s my take? I’m not going near the thing. Burry is most probably correct that we’re in an AI bubble, but there’s always the issue of when the bubble will pop. Lots of people knew we were in a housing bubble, but the timing was hard to get right.

The most dangerous guru is not the guy who’s always wrong but the person who was once briefly correct.

Also, bubbles may not be the death knell of a stock. If you bought Amazon (AMZN) at the top, you would have lost 95% of your money, but the stock is still up 50-fold from its top.

I’m especially leery of shorting Palantir given its profitability. Shorting a rapidly growing company based on valuation does not seem like a sound strategy. I’m staying far away. By the way, Burry also owns Zoetis (ZTS) which is a former Buy List stock.

That’s all for now. The July CPI report is due out tomorrow morning. I’ll have more for you in the next issue of CWS Market Review.

– Eddy

Morning News: August 11, 2026
Posted by Eddy Elfenbein on August 11th, 2026 at 7:09 am

Pakistan Says US, Iran Close to Deal Despite Trump Rhetoric

Oil Prices Rise to $90 a Barrel Over U.S.-Iran Stalemate

An Oil Refiner That Fled California Is Back—With a Giant Pipeline From Texas

‘Chronic’ Heat Risk in Europe Draws Warning From Swiss Re

Trump’s Anti-Wind Crusade Is Boosting US Gas

In a Summer of Climate Misery, Businesses Confront the Need to Adapt

Gold Has Rebounded Strongly. Will It Last?

Trump Is Back to Pressuring the Fed. What Leverage Does He Have?

Inflation Reports Could Test Warsh’s Tough Talk

Warsh Has Deeper Problems Than a Rocky Start at the Fed

Defending the Yen Is Treasury’s Job. The Fed Shouldn’t Take It

Why GDP Is the GOAT of Economic Statistics

Balanced Budget Hagiography Plays Into the Hands of Big Government

Crypto Bill Faces Long Odds After Senate Punts Vote to September

America’s Mortgage King Lost $600 Million and Needed a Rescue

TikTok Influencers Are Selling Everyday Investors the Tax Playbook of the Ultrawealthy

Your Portfolio’s Biggest Threat Isn’t the Market, It’s You

With EV Sales Slowing, Hybrid Cars Are Hot Again

Waymo Is Growing Faster Than Ever. So Are Its Glitches

Trump’s Vaccine Order Puts Parents In a Bind

ICE Arrests Are Pushing Immigrant Families Deeper Into Poverty

Almost All Top US Companies Had Board Diversity Rules. Now Most Are Gone

Shareholder Proposal Filings Are on the Wane

Amazon Is in the Crosshairs of Mamdani’s Worker Agenda

AI-Dominated Leveraged ETFs Are Rattling Markets

Sequoia Raises Its Comfort With Risk in AI Bets

The Perils of Wall St.’s Race to Pour Billions More Into A.I.

Nvidia Taps Wall Street for $500 Billion Funding Commitment

Intel Raises $20 Billion in Upsized Share Sale for AI Plans

Five Takeaways From Zuckerberg’s 6,500-Word Manifesto on AI

Spanberger’s Lonely Data-Center Gamble

How Social Media Spurred a Refugee Crisis Between Spain and Morocco

How Candy Crush Beat the Mobile Game Curse

Vintage Fashion Is Changing the Economics of Desirability

On Holding Tempers Outlook as Running-Shoe Sales Underwhelm

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Morning News: August 10, 2026
Posted by Eddy Elfenbein on August 10th, 2026 at 7:08 am

Oil Prices Climb on Stalemate in Strait of Hormuz

U.A.E.’s Adnoc Gas to Invest More Than $8 Billion in Expansion Push

War Is Helping Chinese EVs Upend the Global Car Market

The US Ammo Crunch Is a Global Disaster

China Hits US Pecans With 54% Levies Before Xi-Trump Summit

The Republican Party Is Losing Its Edge With Voters on the Economy

To Understand the US Economy, Just Board an Airplane

Behind Bessent Moves, Wall Street Sees a Bond-Market Angst

Emerging-Market Stock Valuations Sink Below Half of S&P 500’s

What Should a 21st Century Central Bank Look Like?

Regulators Erased “Reputational Risk” for Banks. The Erasure Is Meaningless

Investors Want Quarterly Reports, Unfavorable Results and All

Private Equity Is Stuck With 33,575 Unsold Businesses

Kalshi’s C.E.O. Isn’t Interested in Management Advice

Supercharged by Social Media, the GLP-1 Boom Is Warping Teen Psyches

Peptides Don’t Deserve a Regulatory Shortcut

The Secret Ingredient Farmers Add to Their Dairy Cows’ Diets for Richer Milk

Pass the GROWTH Act, To Give Americans a Better Retirement

The Bruising Race to Rent in San Francisco Goes Into Overdrive

The Dating Scene That’s Suddenly Dominated by Chip Nerds

Lenders Scrutinize US Data Center Financing as Community Opposition Builds

China Unleashes $28 Trillion Capital Markets to Challenge US in AI

Intel Selling $15 Billion in Common Stock as AI Demand Booms

Can A.I. Get You Where You Want to Go for Less?

Retail Investors Sold SpaceX Shares for First Time on Friday

Apple Cut at Jefferies on iPhone Worries as Sell Ratings Pile Up

Boeing to Sell 3 Autonomous Flight Subsidiaries

Boeing to Fold Its Flying-Taxi Venture Into Rival Archer Aviation

Teledyne Technologies to Buy Varex Imaging for $1.1 Billion

GameStop’s Ryan Cohen Weighs Pulling $56 Billion EBay Offer

Tractor Supply Retrenches as It Looks for a Rebound

What a Family Business Taught e.l.f. Beauty’s CEO

Lululemon Has a Bad Case of Founderitis

How an N.F.L.-Backed Plan to Revitalize Canton, Ohio, Faltered

At the Kentucky Derby of the Car World, Supercars Are the Party Crashers

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Morning News: August 7, 2026
Posted by Eddy Elfenbein on August 7th, 2026 at 7:02 am

China’s Export Boom Rolls On Despite Trade Backlash

China’s New Export Engine: Supplying the Factories of the World

Bessent’s Defense of the Yen Is a Risky Innovation

The Real Reason Behind Trump’s Yen Intervention

Kim Jong Un Flouted Sanctions to Amass $22 Billion Windfall

It’s Not the “Trade Deficit,” It’s How the Capital Was Used

Washington Loses In Court, But the Shopper Still Pays

Warsh and the Fed Face a New Test

Trump Says Rates Should Drop But It’s Not Entirely Up to Warsh

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US Payrolls Unexpectedly Fall 23,000, Below All Estimates

AI Debt Indigestion Forces Wall Street to Rethink Bond Sales

Why Trump Has Become a Liability for the Super Rich

Permabear Michael Burry Ignores a Crucial Fact About US Stocks

If Michael Burry Spotted the So-Called Housing “Bubble,” Then We All Did

Dream Finders to Buy Beazer for $915 Million

Berkshire Goes All-In on Housing Bet With Taylor Morrison Deal

These Texas Builders Backed Trump. They’ve Had Enough

SpaceX Shares Climb After $100 Billion Insider Lockup Expires

An Early Bet on SpaceX Led to a 30% Gain for This College Endowment

Apple Moves to Take Advantage of Indian Consumer Desire

The White House’s Black Box AI Framework Threatens Innovation

Some Chinese Iron Ore Buyers Stop Dealing With Radiant World

Copper Heads for New Highs as US and China Squeeze Buffers

Saudi Arabia Terminal Operator Mulls 25-Year Cape Town Port Deal

Americans Love Giant Trucks. But They’re Killing Us

Nolan Changed ‘The Odyssey’ to Make a Point About Leadership

Sports Fans Stare Down $2,000 Streaming Bill to Follow Favorites

Nielsen to Buy DoubleVerify

The Simple Framework Behind ‘Drastic Dave’s’ Diageo Strategy

Wendy’s Withdraws 2026 Outlook as New CEO Plots Turnaround

Dunkin’s $10 Gift Cards Are This Summer’s Hottest Free Money Hack

The $5 Billion Cosmetics Company Behind the High-Flying Rhode Brand

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