Good Afternoon. Wall Street popped champagne as the S&P 500 broke 6,500 for the first time ever, while Walgreens disappeared from Wall Street after nearly a century and mortgage rates slipped to their lowest in 10 months. Big wins, big exits, and a little relief for homebuyers. Let’s get into it.

—Rosie, Wyatt, Evan & Conor

🔥 What’s Hot: 🔥

🥶 What’s Not: 🥶

1. S&P 500 hits 6,500 points for the first time

The News: The S&P 500 hit 6,500 for the first time ever on Thursday, lifted by stronger-than-expected economic data and Nvidia’s blockbuster earnings. GDP growth for Q2 was revised up to 3.3%, inflation (PCE) was revised down to 2.0%, and jobless claims fell—fueling optimism about both growth and cooling prices. Nvidia beat Wall Street’s lofty expectations and announced a huge buyback program, while Snowflake shares soared more than 20% on strong earnings. The Dow hovered flat, while the Nasdaq gained around 0.6%.

Why It Matters: Higher GDP, falling inflation, and corporate profit growth are exactly the trifecta investors want heading into the fall. Nvidia’s results reinforce AI’s role as the market’s growth engine, while Snowflake’s rally suggests demand for data and cloud plays is alive and well. Hitting 6,500 cements the S&P’s historic run but also raises the question of how much higher markets can climb without a pullback. Momentum is carrying stocks to new heights—but fundamentals will need to catch up to keep them there.
Source: seekingalpha.com

2. Walgreens Is Officially Privately Held

The News: Walgreens is no longer a public company. Private equity firm Sycamore Partners closed its $10 billion deal to take Walgreens Boots Alliance private on Thursday, ending the pharmacy chain’s century-long run on public markets. As part of the transition, Walgreens will operate as a standalone company under new CEO Mike Motz, a retail veteran who previously led Staples US Retail and Shoppers Drug Mart. The restructuring also spun off UK chain Boots as its own entity and set Walgreens on a course to close 1,200 underperforming U.S. stores.

Why It Matters: For everyday shoppers, especially seniors who rely on Walgreens for prescriptions, the shift to private ownership could mean real changes. Without Wall Street’s quarterly earnings pressure, management may focus on fixing store operations and customer service. But private equity ownership also raises concerns: cost-cutting and store closures could make pharmacy access harder in smaller towns and low-income areas. With competitors like Amazon and CVS expanding aggressively, how Sycamore balances efficiency with patient care will shape whether Walgreens becomes a leaner, more reliable pharmacy or leaves communities with fewer options at the counter. In other words, the prescription for Walgreens’ future might include relief with serious side effects.
Source: forbes.com

3. American Eagle Taps Travis Kelce to Sell Jeans

The News: American Eagle stock jumped more than 8% on Wednesday after announcing a new collaboration with NFL star Travis Kelce, fresh off the viral headlines of his engagement to Taylor Swift. The partnership with Kelce’s Tru Kolors brand, more than a year in the making, includes varsity jackets, cricket sweaters, rugby polos, and cargo pants. The timing couldn’t be better: Kelce is now not only a Super Bowl champion but also one half of America’s most-watched celebrity couple. The collab follows a controversial Sydney Sweeney campaign that drew backlash for its double entendre around “jeans/genes.” For American Eagle, the Kelce news offers a much-needed pivot from damage control to a cultural win.

Why It Matters: For investors, this is a textbook case of celebrity equity, when cultural relevance directly boosts brand value. American Eagle has been struggling with flat sales, tight margins, and growing competition, but Kelce gives it instant crossover appeal with NFL fans, Swifties, and pop culture watchers alike. For consumers, it means American Eagle is trying hard to stay in the conversation, and on closets’ top shelves, by aligning with icons who bring both credibility and visibility.
Source: fastcompany.com

4. Vanguard's big ETFs post strong half-year gains

The News: The Vanguard S&P 500 ETF (VOO) is cementing its place as the heavyweight of passive investing in 2025. With more than $700 billion in assets and $74 billion in inflows this year, VOO continues to dominate thanks to its ultra-low 0.03% expense ratio and market-beating returns. As the S&P 500 hit fresh records, VOO delivered 10.8% YTD gains, a magnet for investors seeking simple, low-cost exposure to America’s largest companies. Vanguard’s latest half-year earnings show the strength wasn’t just in VOO. Its Growth ETF (VUG) rode mega-cap tech to a 21.7% annual return, while its Value ETF (VTV) also booked solid profits. But not all was rosy: the Small-Cap Growth ETF posted a loss, reflecting how uneven this market can be depending on sector exposure. Combined, Vanguard’s big five ETFs pulled in $125 billion in net income, underscoring the scale of its influence on global investing.

Why It Matters: It’s no secret that we love index funds, especially Vanguards. Index funds have long been billed as the “set it and forget it” choice and for good reason. Low fees, diversification, and steady exposure to the market make them tough to beat over the long haul. But not all index funds are created equal. A fund like VOO gives you broad exposure to the S&P 500, while a small-cap growth ETF can leave you struggling if that corner of the market lags. For investors, the lesson is simple: indexing works, but diversification matters. A portfolio balanced across large-cap, value, and growth strategies can smooth out the bumps and keep you from being overexposed when one slice of the market stumbles. Index funds may feel like autopilot but even autopilots need a well-planned flight path.
Source: ainvest.com

5. Mortgage rates fall to 10-month low

The News: Mortgage rates have dropped to their lowest level in 10 months. Freddie Mac reported Thursday that the average 30-year fixed rate fell to 6.56%, down from 6.58% last week. The 15-year fixed rate held steady at 5.69%. Lower borrowing costs are giving the housing market a jolt, with purchase demand picking up. But affordability remains a major hurdle: only 28% of homes on the market are affordable for the typical U.S. household, according to Realtor.com. Rising prices and years of higher rates have eroded buying power by nearly $30,000 since 2019, despite incomes climbing 15.7%.

Why It Matters: For buyers, slightly lower rates could be just enough to tip the scales between getting approved or staying sidelined. But with prices still at record highs, the relief feels more like a drizzle than a downpour. Affordability remains stuck at mid-1990s levels. For sellers, hopefully the shift could mean faster offers as more buyers inch back into the market.
Source: foxbusiness.com

1. Samsung schedules Galaxy event 5 days before Apple iPhone launch

The News: Samsung, the South Korean manufacturing conglomerate, has scheduled its next Galaxy Unpacked event for September 4, just five days before Apple’s iPhone 17 launch on September 9. The livestream kicks off at 5:30 a.m. ET, with Samsung teasing the theme “AI for all” and promising a more seamless mobile experience across devices. Analysts expect the unveiling of the Galaxy Tab S11 series (including a 14.6-inch Ultra model) and the Galaxy S25 FE, a more affordable entry in its flagship smartphone line.

Why It Matters: Samsung is playing offense against Apple’s September spotlight, aiming to grab headlines before the iPhone hype cycle dominates. With AI now the battleground for premium devices, Samsung is betting that Galaxy AI features can stand out against Apple’s own AI push. For consumers, this means more competition and potentially more powerful features at lower price points. For investors, it underscores the AI arms race extending beyond data centers and into the next generation of consumer devices. Get ready for upgrade talk this holiday season.
Source: digitaltrends.com

2. Trump’s Tariff Domino Effect

The News: Tariff tensions are flaring worldwide. The EU moved to scrap tariffs on U.S. industrial goods to speed up Washington’s promised cut on European car duties. Mexico bowed to U.S. pressure, planning new tariffs on Chinese imports like cars and textiles in its 2026 budget. India is reeling from Trump’s 50% tariff hike tied to its Russian oil purchases, while Canada dropped retaliatory duties to match U.S. exemptions. Japan stalled talks on a $550B investment package after failing to secure tariff relief. At home, Trump confirmed tariffs on South Korea, promised duties on furniture, and faces a court challenge that could upend his sweeping “reciprocal” tariffs.

Why It Matters: For households, this means higher prices on everyday goods—from furniture to liquor to laptops—as global supply chains rewire under pressure. For businesses, tariffs are forcing costly pivots in production and trade routes. And geopolitically, Trump’s moves are pushing countries to choose sides between the U.S., China, and Russia, reshaping global alliances in ways that will hit consumers’ wallets long before the politics settle. From cars to cargo pants, global trade is getting pricier and consumers could be left holding the bill.
Source: finance.yahoo.com

3. Euro zone bank lending growth hits two-year high in July

The News: Euro zone bank lending hit a two-year high in July, as households and businesses took advantage of lower borrowing costs and signs of a steady recovery. Household lending rose 2.4% year-over-year—the fastest pace since April 2023—while business credit expanded 2.8%, the strongest since June 2023. Overall, households now owe about €7 trillion, reflecting renewed appetite for mortgages and consumer loans.

Why It Matters: For households, cheaper credit means mortgages and consumer loans are back within reach after a painful stretch of rate hikes. For businesses, it’s fuel for investment and expansion. And for the ECB, the rebound is a signal that its policy easing is finally flowing through to the real economy. Still, economists warn the pace may cool once base effects fade and global uncertainties return.
Source: investing.com

Q: What lights up a soccer stadium?

A: A soccer match.

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A scale that measures the concentration of hydrogen ions in a solution, indicating its acidity or alkalinity, typically ranging from 0 (acidic) to 14 (basic). Pure Water is neutral at 7.

“Blood pH must be kept within a narrow range for proper bodily function.”

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