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• Dow closes down 200 points as bond yields, oil prices jump
  U.S. stocks closed lower Tuesday after the long Labor Day weekend,...
  U.S. stocks closed lower Tuesday after the long Labor Day weekend, as bond yields and oil prices climbed. The Dow Jones Industrial Average DJIA shed about 195 points, or 0.6%, ending near 34,642. The S&P 500 Index SPX dropped about 0.4% and the Nasdaq Composite Index COMP fell 0.1%. Investors returned from the long weekend in a less bullish mood on weaker economic data from China and Europe, but also with more clouds on the horizon in oil markets.
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• Tropical wave has 90% chance of formation, could become a hurricane later this week
  TAMPA, Fla. (...
  TAMPA, Fla. (WFLA) The National Hurricane Center is keeping an eye on a disturbance that has a 90% chance of formation and will likely become Tropical Storm Lee.
  
  The NHC said showers and thunderstorms associated with an area of low pressure are located over the central tropical Atlantic about 900 miles west-southwest of Cape Verde.
  
  The NHC said the system will likely become Tropical Storm Lee. It could strengthen into a hurricane later this week as it nears the northern Leeward Islands.
  
  
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• China’s new high-speed train just set a new record as the world’s fastest — and it could travel faster than an airplane
  It’s not often that a train can get you to your destination as fast as flying, but China’s new high-speed...
  It’s not often that a train can get you to your destination as fast as flying, but China’s new high-speed maglev train might just pull it off.
  
  On a recent test run, the train sprinted to record-breaking speeds of 281 miles per hour, making it the fastest train in the world. Once completed, engineers hope the maglev will reach 621 mph (much faster than commercial flights, which cruise at an average of 545 mph to 574 mph).
  
  The maglev uses “magnetic levitation” to effectively glide on thin air, eliminating friction and noise pollution while allowing trains to travel at higher speeds.
  
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• Western Midstream to Expand Powder River Presence with Meritage Deal
  Western Midstream Partners LP subsidiary will acquire Meritage...
  Western Midstream Partners LP subsidiary will acquire Meritage Midstream Services II LLC for $885 million cash as the infrastructure company expands its Powder River footprint.
  
  The deal is the latest in a series of midstream M&A that has broadly seen infrastructure company consolidation since December 2022. The transactions have included some of the most expensive 2023, most recently including an Energy Transfer mid-August deal to acquire Crestwood Equity Partners for $7.1 billion.
  
  Under the terms of Western Midstream’s agreement, the company will acquire Denver’s privately held Meritage’s large-scale natural gas gathering and processing business in the Powder River Basin of Wyoming.
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• ☕️What Else is Brewing Tuesday Morning
  The US Open rolls into its final week. And while tennis fans are drooling over a potential...
  The US Open rolls into its final week. And while tennis fans are drooling over a potential Djokovic vs. Alcaraz final, American players are making the NYC crowd proud. Three US men have reached the quarterfinals for the first time since 2005, and 19-year-old Coco Gauff became the first teen to reach consecutive US Open quarterfinal rounds since Serena Williams more than 20 years ago.
  
  Mercedes debuted new concept cars, showing off its eclectic ambitions by planning vehicles with a greater range than Teslas. BMW also unveiled a new electric concept car.
  
  China’s President Xi Jinping will not attend the G20 summit in India this weekend, so he won’t chat with US President Biden there. Premier Li Qiang will represent China instead.
  
  Parrotheads have been celebrating the life of “Margaritaville” singer Jimmy Buffett, who died on Friday at age 76 from a rare form of skin cancer.
  
  
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