|  | Nasdaq | 22,780.51 | |
|  | S&P | 6,715.79 | |
|  | Dow | 46,758.28 | |
|  | 10-Year | 4.119% | |
|  | Bitcoin | $123,434.16 | |
|  | Nvidia | $187.62 | |
| | Data is provided by |  | *Stock data as of market close, cryptocurrency data as of 8:00pm ET. Here's what these numbers mean. | - Markets: You might say stocks danced through the lightning strike last week. The S&P 500 finished the week at a record high while on a six-day win streak despite the government being shut down. That will likely bring investors challenges in the days ahead, like the delayed release of economic data and the potential for widespread layoffs of federal employees. But for the moment, they seem to think the shutdown will be short-lived.
- Stock spotlight: Investors are finding lots to be positive about in AI. While Nvidia closed lower on Friday, it had a six-day run in the green before that.
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MEDIA CBS News, once home to the late Edward R. Murrow and Walter Cronkite, is expected to announce Bari Weiss as its editor in chief today as part of a reported $150 million cash-and-stock deal in which the network will also acquire her firebrand media company, The Free Press. A bold move for legacy media The news startup Weiss co-founded just four years ago produces newsletters, podcasts, original reporting, and "sense-making" columns. CBS is 98 years old. It has bureaus around the world and hundreds of producers, journalists, and anchors. - Not just old news: CBS still owns a couple of the most successful news shows on TV, 60 Minutes and CBS Sunday Morning, which draw millions of weekly viewers.
As media experts refresh their browsers waiting for the official word to drop, some of them are also wondering if Weiss, with her relative lack of experience, is up for the job. This CV's got no TV. Weiss served as an opinion editor for the New York Times from 2017 to 2020. She has said she was "an intellectual diversity hire" there. She left the NYT due to what she called its "illiberal environment." The following year, she co-founded the Substack newsletter Common Sense, which rebranded as The Free Press in 2022. It exists to shake up mainstream media, much like this rumored deal to acquire it has. Zoom out: When the Paramount–Skydance merger concluded in August, new CEO David Ellison said, "I do not want to politicize our company in any way, shape, or form." Critics of Weiss and this deal say they would do precisely that. The Free Press has been called "the anti-anti-Trump publication." Many industry watchers believe Paramount settled a lawsuit that Trump brought against CBS to get the Skydance merger over the line, as FCC approval of the deal came shortly after the settlement.—HVL | | |
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Together With Indeed AI's impact on work isn't a simple on/off switch, and Indeed Hiring Lab's latest research helps clarify what transformation actually looks like in practice. While about 46% of skills in a typical US job posting are poised for "hybrid transformation" by GenAI, this isn't necessarily cause for alarm (phew). The research suggests that AI often enhances human capabilities rather than replacing them entirely. Think of AI as handling the repetitive, data-heavy tasks while humans tackle the complex decision-making and interpersonal work that requires judgment and creativity. Indeed's findings break down these changes by skill type and industry, offering a clearer picture of what this transformation means for different roles and how organizations can prep thoughtfully. Understand the real impact on your workforce. |
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WORLD President Trump considers $10 billion bailout for farmers. The US soybean industry is in dire straits: The harvesting season is underway, and China hasn't bought a single bushel since May, while protracted trade negotiations between the United States and the world's largest soybean customer linger on. According to the Wall Street Journal's analysis of federal data, US soybean farmers stand to lose $100 per acre this year due to falling crop prices and increased costs for fertilizer and equipment. President Trump is reportedly exploring ways to ease the strain on farmers, and he's expected to announce solutions soon. Last Wednesday on Truth Social, he mentioned potentially sharing a percentage of proceeds from tariffs with embattled farmers. Govt shutdown expected to continue another week. If you're wondering what new developments you missed in Congress's impasse, the answer is…not many. Both Democrats and Republicans remain entrenched in their belief that each has the upper hand in the argument. The Senate will reconvene this afternoon, with votes on the two competing continuing resolutions that led the government to shut down last week scheduled for 5:30pm ET, meaning the government cannot reopen before then. The House will remain out of town after Speaker Mike Johnson declared Oct. 7 through Oct. 13 "a district work period" while Washington is in disarray. Kevin Hassett, the director of the National Economic Council, said on CNN's State of the Union yesterday that mass firings of federal workers would begin "if the president decides that the negotiations are absolutely going nowhere." Taylor Swift banked $33m domestically for only-in-theaters event. This weekend, to celebrate the release of The Life of a Showgirl, Taylor Swift hosted a "release party," which was actually a movie, which was actually an 89-minute presentation of a music video and behind-the-scenes footage and commentary shown at participating cinemas for three days. Taylor Swift: The Official Release Party of a Showgirl was distributed by AMC to over 3,700 theaters in the US and Canada. While it debuted at No. 1 at the North American box office, it won't be defending its slot next weekend, as it left theaters yesterday. The event was only announced two weeks ago and received minimal promotion, but struggling theater owners were nonetheless grateful for the lovely bouquet.—HVL
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FOOD & BEV In a world of bottomless pasta bowls and all-you-can-eat buffets, some restaurants are going the other way, offering customers smaller portions for prices that are a little easier to swallow. Honey, I shrunk the plates: Olive Garden started experimenting with lighter portions earlier this year as a way to offer some variety from the unlimited pasta and breadstick deals it's known for. Customers like the new options, which have turned some diners into regulars, according to parent company Darden Restaurants. P.F. Chang's also recently started offering smaller options, and The Cheesecake Factory added a new "Bites" concept to its phone-book-sized menu in July. They're just following the data: - According to the National Restaurant Association, 74% of customers want smaller portions.
- And 44% of adults say they order from the kids' menu to save money and eat less, according to a survey from hospitality company Lightspeed Commerce.
What's the deal? Besides cost savings, many customers just don't have the appetite for a big meal because they snack a lot during the day. Maeve Webster, the president of consulting firm Menu Matters, told CNN that more people are also eating out by themselves, so family-style portions just don't make sense. Some restaurants have also gone small to cater to customers taking GLP-1 drugs to lose weight.—BC | | |
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Together With AT&T Connected Car Don't get ghosted by your signal. Spooky season's all fun and games until you hit a dead zone. Turn your car into a rolling hotspot with AT&T Connected Car™ so you can stream your movies, blast your fall playlists, and stay connected for the entire ride to the pumpkin patch. |
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CALENDAR Some economic data will be released this week; some probably won't: As the government shutdown drags into a second week, the data picture is only getting muddier. Import and export numbers are supposed to be released on Tuesday, and jobless claims are set for Thursday, but the federal government publishes that data, so it won't be released during the shutdown. The financial metric environment won't be completely barren, though. Consumer credit data will be released on Tuesday. The Federal Reserve will release the minutes of its September 17 meeting on Wednesday, and Fed Chair Jerome Powell will deliver remarks at a bank conference on Thursday. Then, the University of Michigan's consumer sentiment report will be out on Friday. The US Supreme Court's new term starts today: The high court starts its nine-month term with plenty of big cases in the pipeline. During the term, the justices will hear arguments on the legality of many of President Trump's tariffs, Trump's attempt to fire Federal Reserve Governor Lisa Cook, and Trump's removal of Federal Trade Commissioner Rebecca Slaughter. The Supreme Court will also hear cases involving gun rights, campaign finance limits, and, potentially, Trump's attempt to end birthright citizenship (to name just a few). The term runs through the end of June. A smattering of sports offerings: The NHL season opens on Tuesday, with the two-time defending champion Florida Panthers taking the ice against the Chicago Blackhawks. Then, the WNBA Finals continue on Wednesday, when the Phoenix Mercury will try to rise up against the Las Vegas Aces, who hold a 2–0 lead in the series. There's also plenty of playoff baseball, regular season football, and NBA preseason games to go around. Everything else: - Beverages company Constellation Brands (Modelo, Corona, Pacifico, and more) reports earnings today.
- OpenAI will host its annual developer conference, DevDay, today in San Francisco.
- Egypt hosts negotiations between Israel and Hamas today. US officials will participate in the talks. Tomorrow marks two years since Hamas and other militant groups attacked Israel, setting off the war in Gaza.
- Canadian Prime Minister Mark Carney meets with President Trump in Washington to talk tariffs on Tuesday.
- Spice and seasoning company McCormick announces its Q3 results on Tuesday.
- Both Walmart and Amazon are having sales events that start on Tuesday. Walmart's deals event runs through Sunday, while Amazon's October Prime Day ends on Wednesday.
- PepsiCo, Delta, and Levi Strauss will report their earnings on Thursday.
- ABC's 9-1-1 is back for Season 9 on Thursday.
- The Nobel Peace Prize winner will be announced on Friday.
- Tim Robinson's HBO Max comedy The Chair Company premieres on Sunday.
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STAT After more than 60 years, pharmacy chain Rite Aid is hanging up its white coat. The company quietly posted on its website this past week that all stores "have now closed." At its peak, Rite Aid had more than 5,000 stores and tens of thousands of employees, but it finally succumbed to the weight of competition from CVS and Walgreens—and more than 1,000 lawsuits accusing it of filling illegal painkiller prescriptions, according to the New York Times. It's part of a larger trend: A study in the journal Health Affairs found that, between 2010 and 2021, nearly one-third of drugstores in the US closed. They're probably all now Spirit Halloweens.—BC |
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NEWS - A shooting in Montgomery, AL, on Saturday night left at least 12 wounded and two dead. At least half of the people shot are said to be teenagers.
- A federal judge temporarily blocked President Trump from sending federalized National Guardsmen from California or any other state to Portland, OR. California Gov. Gavin Newsom said he will sue the Trump administration after the president sent CA National Guard members out of state.
- Eight OPEC+ members, including Saudi Arabia, voted to increase oil production in November.
- Bitcoin hit a new high above $125,000, due in part to the US government shutdown.
- Bad Bunny hosted Saturday Night Live and used his monologue to respond to those critical of his selection to headline the 2026 Super Bowl halftime show.
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PLAY Turntable: There are just 21 words in today's puzzle. How many can you catch? Give it a spin and play here. SCOTUS trivia With the new Supreme Court term beginning today, here's some SCOTUS trivia: Who was the first chief justice of the Supreme Court? Hints: - He was one of the authors of the Federalist Papers.
- He has a college named after him in New York City.
- His first and last initials are the same letter.
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ANSWER John Jay Word of the Day Today's Word of the Day is: protracted, meaning "extended forward." Thanks to Greg from Chesapeake, VA, for the far-out suggestion. Submit another Word of the Day here. |
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✳︎ A Note From AT&T Connected Car Disclaimer: Requires eligible car and wireless service plan. Additional restrictions apply. |
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