Job openings unexpectedly jump: Employment data Tuesday showed job openings increased to 9.6 million in August, from 8.9 million in July, a sign that the labor market remains resilient in the face of the Federal Reserve’s efforts to cool the economy and ease inflation with higher interest rates (AP)
Dow’s 2023 gains wiped out: Stocks tumbled yesterday as Treasury yields hit their highest levels since 2007; The Dow had its worst day since March and went into the red for the year, off by 0.4%. The broader S&P 500 is still up 10% for 2023 (NY Post)
Chaos on Capitol Hill: Speaker Kevin McCarthy was voted out of the job Tuesday in an extraordinary showdown — a first in U.S. history, forced by a contingent of hard-right conservatives and throwing the House and its Republican leadership into chaos (AP)
Ad-free instagram & facebook: Meta (META) wants to charge Europeans for ad-free monthly subscriptions if the EU doesn’t agree to let the company use their digital activity to target ads, according to a proposal (WSJ)
Oil squeeze continues: As OPEC+ ministers prepare to review global oil markets today, the group is showing no signs of cooling a rally that brought prices near $100 a barrel (Bloomberg)
Rates drive up new-car payments: In Q3, rising borrowing costs, with new-vehicle APRs reaching 7.4% (a three-point increase) and used-vehicle rates at 11.2% (a two-point jump), have intensified challenges for consumers purchasing cars (Edmunds)
Berkshire keeps dumping HP: Berkshire Hathaway’s (BRK) ownership of HP Inc. (HPE) is about to drop below 10% after it sold nearly 5 million shares, according to a regulatory filing by Buffett’s company (AP)
Beyond the mall: Macy’s (M) will open 30 new small-format stores by the fall of 2025 as it works to expand its presence outside of traditional malls (Bloomberg)
Netflix price to jump: Netflix (NFLX) plans to raise the price of its ad-free service a few months after the continuing Hollywood actors strike ends, the latest in a series of recent price increases by the country’s largest streaming platforms (WSJ)
Shedding that late-night snack: Krispy Kreme (DNUT) is exploring options for its Insomnia Cookies unit including a sale, the company said on Tuesday, as it renews its focus on its main business of selling doughnuts (Reuters) | 