
MARKET PULSE
Powell, Politics, and Pressure Points
Markets head into the holiday weekend carrying both resilience and fragility. Powell’s tone at Jackson Hole kept September rate-cut hopes alive, but politics quickly intruded as Trump moved against Fed Governor Lisa Cook, raising questions about the Fed’s independence.
The week’s headlines revealed pressure points across the economy: Nvidia’s earnings reinforced AI’s grip on markets, even as power constraints pushed Big Tech toward nuclear energy bets. Tariffs weighed on Caterpillar, farmers, and furniture makers, while Spirit Airlines’ relapse into Chapter 11 underscored the limits of thin-margin models.
The PCE report confirmed progress—headline 2.6%, core 2.9%—but not victory. With cuts still likely, optimism remains intact, yet sector stress and political risk keep breaking through the surface.
Even on a holiday, the takeaway is clear: policy can buoy markets, but durability depends on which models bend without breaking. That’s the balance investors will be testing as September trading begins.
From Our Partners
President Trump promised to make America the leader of artificial intelligence.
That's why Jeff Brown believes he's about to grant what he calls "national security status" to this little-known company…
Sending shares higher than anyone can imagine.
This is the only company in the U.S. that can mine a metal that's critical to the $100 trillion AI boom.
ENERGY & TECHNOLOGY

LayerX uses AI to cut enterprise back-office workload, scores $100M in Series B
This Japanese AI startup just raised $100M to cut businesses’ admin burden.
An Iowa nuclear plant is the next contender to restart, spurred by AI data center demand
The Duane Arnold nuclear plant in Iowa shut down in 2020, but could come back online to support growing power demand from the tech sector.
The 79 Best Deals From REI’s 2025 Labor Day Sale
Shop the best deals on WIRED-tested outdoor gear from REI, Nemo, MSR, Coleman, Fjällräven, and more during REI’s Labor Day sale.
How are you spending your 3-day Labor Day weekend?
RETAIL & BUSINESS
Cracker Barrel's $100 Million Logo Reversal: Mistake or Marketing Genius?
UPDATE 8/26:Cracker Barrelannounced Tuesday evening they're reverting to their "Old Timer" logo, abandoning the new design after less than a week - faster than Gap's infamous reversal in 2010. Stock jumped 9% in after-hours trading.
One of my first business makeovers was for the Bay Shores Peninsula Hotel in Newport Beach. The rooms hadn't been updated in years, the reservation system was clunky, and staff training was functional but not inspired. The last thing we touched was the logo - several years later, after everything else was fixed and guests were happy.
Cracker Barrel did the opposite - they changed their logo in August, faced immediate backlash that erased nearly $100 million in market value, then completely reversed course. This rapid sequence offers crucial lessons for executives planning brand changes.
Rhode Island's 'Taylor Swift Tax' on vacation homes of the wealthy is spreading to other states
A push to tax the real estate of the wealthy has sparked a backlash among brokers and potential buyers, who say the taxes punish the most important local spenders.
South Australia bans fish-shaped soy sauce bottles and polystyrene containers under plastic laws
Tiny fish-shaped soy sauce bottles are the latest casualty in Australia’s fight against waste, outlawed by single-use plastic laws that took effect on Monday.
In its "Replace the Waste" guidance, South Australia’s government said the rules target single-serve soy sauce containers under 30 milliliters, most often shaped like fish but sometimes pigs, rectangles or other novelty designs.
The ban applies to all rigid plastic condiment containers with lids under that size, commonly handed out with takeaway meals.
Along with soy sauce fish, the state extended the ban to single-use straws and cutlery attached to food or drink containers, such as straws on juice boxes.
TRUMP TREASURY HEAD DEFENDS ELON MUSK'S DOGE DESPITE ‘SQUAWKING’ FROM CRITICS
Expanded polystyrene cups and bowls, such as those used for instant noodles, were also banned, aligning South Australia with New South Wales and Victoria.
Still permitted are plastic lollipop sticks, large soy dispensers, sachets and squeeze packs of soy sauce, and coated paper cups and bowls for instant meals.
South Australia passed the country’s first Single-use and Other Plastic Products (Waste Avoidance) Act in 2020, acknowledging plastic’s role in daily life but stressing that how it is produced, used and discarded wastes resources and harms the environment.
‘BACK TO PLASTIC!’: TRUMP VOWS EXECUTIVE ORDER ENDING ‘RIDICULOUS’ PUSH FOR PAPER STRAWS
"South Australians are committed to the environment and want action on single-use plastic products," the state said on its site. "By avoiding waste and shifting to reusable or recyclable options, we can ensure the best environmental outcome for our ‘clean and green’ state."
The state adopted a phased approach starting March 1, 2021, when single-use plastic straws, cutlery and stirrers were first banned.
In 2022, the state banned expanded polystyrene cups, bowls, plates and clamshell containers common in takeout, along with oxo-degradable plastic products.
Since then, South Australia has also banned items including plastic-stemmed cotton buds, pizza savers, barrier bags, thick supermarket bags, single-use food containers, plastic confetti and food bag tags.
TRUMP, ELON MUSK BOND OVER PLASTIC STRAWS
States and municipalities across the U.S. have imposed their own single-use plastic bans, targeting items like straws and plastic bags.
While Australia tightens restrictions, the U.S. appears to be moving in the opposite direction.
Earlier this year, President Donald Trump signed an executive order ending the "procurement and forced use of paper straws."
The order directed the federal government to stop purchasing paper straws and ensure they are no longer offered in federal buildings.
The order also required a "National Strategy" to end the use of paper straws within 45 days and "alleviate the forced use of paper straws nationwide."
According to the White House, paper straws are more expensive than plastic straws and use chemicals that may carry risks to human health.
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Several Democrat-run states, including California, Colorado, New York, Maine, Oregon, Vermont, Rhode Island and Washington, have bans or restrictions on single-use plastic straws.
Some of those states currently have laws limiting the use of single-use plastic straws in full-service restaurants unless requested by the customer.
REAL ESTATE

NAR lost the trust of many agents. Is the trade group winning it back?
When new rules governing buyer's agent compensation went into effect, the share of real estate agents Intel surveyed who saw the National Association of Realtors as bad for the industry shot up. One year later, some agents are coming back around.
Relisting Your Home: What You Need to Know Before Trying Again
Thinking about relisting your home after it didn’t sell the first time? There are plenty of ways to turn things around; relisting can be your chance to make a stronger impression and attract the right buyer.
The post Relisting Your Home: What You Need to Know Before Trying Again appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.
Rhode Island's 'Taylor Swift Tax' on vacation homes of the wealthy is spreading to other states
A push to tax the real estate of the wealthy has sparked a backlash among brokers and potential buyers, who say the taxes punish the most important local spenders.
WORLD NEWS
Russia Intensifies Strikes in Ukraine, Defying Trump’s Shifting Deadlines for Peace
Russian President Vladimir Putin is expanding his strikes on Ukrainian cities and pressing for further military gains in defiance of President Trump’s deadlines to enter serious peace talks.
Fate of Fed Gov. Lisa Cook still up in the air after court hearing on Trump firing bid
Lisa Cook's lawyer said "crazy midnight tweets" by housing official Bill Pulte about alleged mortgage fraud do not give President Trump cause to remove her.
How Italy's banking M&A wave started crashing
The merger fever that's gripped Italy's banking sector showed signs of abating this summer — but its end isn't nigh.
GET VISUAL
Atlas of Space
Gordon Hart put together a fun interactive atlas of space. Click on objects, pan, and zoom. It’s not comprehensive but not bad for a side project:
This was a fun side project over Winter Break 2024 to learn orbital mechanics, browser animation, serverless deployment options, and of course facts about moons, asteroids, and comets. Building for yourself is a treat that I haven’t properly enjoyed in some time. Source code is available on GitHub at @gordonhart/atlasof.space.
Tags: atlas, Gordon Hart, space
The factions jostling for Donald Trump’s favour
We have identified five Republican tribes. This is what they mean for the party
Have foreign tourists really avoided America this year?
Our analysis of whether the country is losing its international appeal among holidaymakers
CLOSING VIEW
September Opens With No Shortage of Stress Tests
We’ll be back tomorrow with your regular coverage, and the calendar wastes no time. Earnings from Broadcom (AVGO) and Salesforce (CRM) will test tech sentiment. ISM manufacturing and services data will give an early read on industrial strength. And Friday brings the big one—Non-Farm Payrolls, a make-or-break data point for September rate-cut odds.
Markets may be quiet for Labor Day, but the tape won’t stay still for long. Enjoy the long weekend, then brace for a busy September open.

