Good Afternoon. Markets and politics are colliding this week. Trump hosts Zelenskyy and European leaders in Washington, Powell takes the stage at Jackson Hole, and Wall Street toys with blockchain benchmarks. The decisions made now could redraw the map from global security to how you trade the S&P 500. Let’s get into it.

—Rosie, Wyatt, Evan & Conor

🔥 What’s Hot: 🔥

🥶 What’s Not: 🥶

1. Trump meets with Zelenskyy and European leaders

The News: President Donald Trump opened the week with a double-barreled show of power, vowing to end mail-in ballots and voting machines by executive order ahead of the 2026 midterms, while hosting Ukrainian President Volodymyr Zelenskyy and European leaders at the White House for high-stakes talks on ending Russia’s war. On elections, Trump said states must comply with federal directives “for the good of our country,” despite the U.S. Constitution giving states control over how elections are conducted. Legal challenges are expected. Meanwhile, at the White House, Trump sat with Zelenskyy and leaders from the U.K., France, Germany, Italy and NATO, signaling openness to a peace framework that could involve Ukraine ceding territory, even as Kyiv pressed for lasting security guarantees. Trump is also expected to speak directly with Vladimir Putin following the summit.

Why It Matters: Domestically, Trump’s vow to scrap mail-in ballots and machines raises questions about federal overreach and election security, setting the stage for legal battles that could shape the 2026 midterms. Internationally, his push for a negotiated peace between Ukraine and Russia highlights his willingness to pressure allies into compromises that could redraw borders in Europe. Together, the moves underscore Trump’s governing style: disruptive at home, transactional abroad, and always willing to test the boundaries of institutional norms. Together, the two moves show Trump is willing to rewrite the rulebook wherever he goes.
Source: nbcnews.com

2. US Homebuilder Confidence Hits Late 2022 Lows

The News: U.S. homebuilder confidence slipped to 32 in August, matching its lowest level since late 2022, as high mortgage rates and affordability pressures keep buyers on the sidelines. The NAHB/Wells Fargo Housing Market Index has now stayed in negative territory for 16 straight months, with sluggish sales and weak buyer traffic weighing on sentiment. To move inventory, 37% of builders cut prices last month while two-thirds offered incentives, the highest share since the pandemic.

Why It Matters: Housing is one of the economy’s most interest rate–sensitive sectors, and the data underscores how 7% mortgage rates are chilling demand despite price cuts. The Fed’s rate stance looms large: until borrowing costs ease, builders are stuck offering discounts, and many buyers will continue waiting on the sidelines. For the broader economy, a frozen housing market means weaker construction activity, fewer jobs, and a drag on consumer confidence. But for real estate investors with cash, that pressure could create entry points, discounts, better terms, and less competition.
Source: nahb.com

3. Powell Set to Deliver Crucial Jackson Hole Speech

The News: Federal Reserve Chair Jerome Powell will deliver his most closely watched policy speech of the year Friday at the Jackson Hole Economic Symposium, where markets expect him to signal whether rate cuts are imminent. With U.S. growth slowing to just 1.2% in the first half of 2025, inflation still above target, and unemployment dipping below 4%, traders have now priced in an 85% chance of a September cut. The address, titled “The Economic Outlook and Framework Review,” may also be Powell’s last as chair, adding weight to his remarks amid political pressure from President Trump, who has criticized Powell and floated potential successors.

Why It Matters: Jackson Hole has a history of market-shaking announcements, from Bernanke’s QE hints to Powell’s 2020 shift to “average inflation targeting.” This year, the stakes are even higher: Powell must balance sticky inflation with weakening growth while fending off political pressure to slash rates more aggressively. For markets, the speech could set the tone for bonds, equities, and currencies well into 2026. Investors will parse every word for signs of whether the Fed is ready to pivot or standing firm. Powell may keep his cards close to the vest, but markets are betting big that he’s holding at least one rate cut in his hand.
Source: thestreet.com

4. S&P Dow Jones explores tokenizing flagship indexes

The News: S&P Dow Jones Indices, the firm behind the S&P 500 and Dow Jones Industrial Average, is exploring tokenized versions of its most famous benchmarks. The company has already licensed the S&P 500 to blockchain infrastructure provider Centrifuge, which is building programmable index-tracking funds via smart contracts. Now, S&P is considering doing the same for the Dow and other thematic indexes, with demand especially strong in Europe, Asia, and Latin America.

Why It Matters: If the world’s most trusted indexes go on-chain, it would mark one of Wall Street’s strongest endorsements yet of blockchain finance. Tokenization could lower the barrier to entry with fractional ownership, bring 24/7 liquidity that makes “after-hours” trading obsolete, and enable programmable strategies that run in real time. In practice, it means the S&P 500 and Dow could sit in the same wallets retail and institutional investors already use for crypto. A sign that traditional finance isn’t resisting blockchain, but starting to embrace it.
Source: coindoo.com

5. Gemini files for IPO amid crypto market surge

The News: Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, has officially filed for its IPO, revealing plans to trade on Nasdaq under the ticker “GEMI.” The filing shows widening losses, a $282.5 million net loss on $68.6 million in revenue for the first half of 2025. However, Gemini still boasts 14.6 million verified users and $12 billion in assets under custody. The IPO, expected to raise about $400 million, would make Gemini the third listed crypto exchange after Coinbase and Bullish.

Why It Matters: The timing couldn’t be better: crypto IPOs are back in vogue, with Circle’s blockbuster June debut and Bullish’s successful listing reigniting investor appetite. Regulatory clarity under the Trump administration has also reduced some of the industry’s risk premium, giving exchanges like Gemini more room to run. For investors, the big question is whether Gemini can carve out an edge against Coinbase, but if recent debuts are any guide, expect GEMI to rocket out of the gate.
Source: prnewswire.com

1. China Builds Hypersonic Drone Mothership

The News: China is developing a Mach 5 “drone carrier” aircraft based on NASA’s long-abandoned 1970s “scissor wing” design, which rotates its central wing to adapt across speed regimes. At hypersonic speeds, the mothership would function as a waverider, riding its own shockwaves for efficiency while deploying swarms of drones, including hypersonic models, deep into contested airspace.

Why It Matters: While questions still remain about the technical feasibility and operational timeline, If successful, this platform would give China unprecedented strike and surveillance reach: the ability to launch drone swarms from hypersonic altitudes could overwhelm traditional air defenses and extend Beijing’s power projection far beyond its borders. It also underscores how hypersonics are becoming the new frontier of military competition. Where the U.S. has focused on testing reusable hypersonic aircraft, China is now fusing that with drone warfare. Look for news about U.S. counter measures in the coming months.
Source: scmp.com

2. Airbus A320 Nears Aviation’s Biggest Milestone

The News: Europe’s Airbus is on the verge of overtaking Boeing as the world’s most prolific jetmaker, with its A320 family just 20 deliveries shy of surpassing the 737 as the most-produced commercial aircraft in history. As of early August, Airbus has delivered 12,155 A320s compared with Boeing’s 12,171 737s. With Airbus delivering more planes monthly (67 in July vs. Boeing’s 48), the milestone could come as soon as September. Much of the momentum comes from the A320neo and its long-range A321XLR, which have become staples for European and Asian carriers alike.

Why It Matters: This milestone cements Airbus as the world’s dominant single-aisle aircraft maker. It marks a historic role reversal: for decades, Boeing’s 737 defined short-haul travel, particularly in the U.S., but Airbus’s more fuel-efficient designs have won out globally. For Europe, it’s a point of industrial pride; for the U.S., it highlights Boeing’s ongoing struggles. And for passengers worldwide, it signals that your next hop between cities is increasingly likely to be powered by a European jet.
Source: liveandletsfly.com

3. ADHD Meds Linked to Drops in Suicide, Addiction, Crime

The News: A landmark Swedish study has found that ADHD medications are associated with significant reductions in suicide attempts, substance abuse, traffic accidents, and criminal behavior. Researchers at Stockholm’s Karolinska Institutet, working with the University of Southampton, tracked nearly 150,000 people with newly diagnosed ADHD between 2007 and 2020. Published in The BMJ, the study is the largest of its kind, showing that medication use cut suicide risk by 17%, substance misuse by 15%, accidents by 12%, and criminality by 13%. For patients with repeat issues, the benefits were even greater, reductions of up to 25%.

Why It Matters: ADHD affects millions worldwide, but medication has long been debated amid concerns about side effects and over-prescription. This Swedish-led study flips the script: not only do treatments help with attention and impulsivity, they appear to lower risks with profound health and societal consequences. With prescriptions rising globally, the findings could influence how doctors, policymakers, and parents view ADHD care, not just as symptom management, but as a public health tool.
Source: news.ki.se

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