Stocks end lower to kick off September thanks to tariff uncertainy, bond jitters
Bond-market jitters served to send stocks down Tuesday...
Bond-market jitters served to send stocks down Tuesday on the first trading day of September, though equities finished off of session lows. A raft of economic data culminating with Friday's August jobs report are likely to set the tone for the week.
The Dow Jones Industrial Average fell around 250 points, or 0.5%, to close near 45,296, after dropping nearly 600 points at its session low.
The S&P 500 lost around 44 points, or 0.7%, to end near 6,415.54.
The Nasdaq Composite dropped around 176 points, or 0.8%, to finish near 21,280.
The yield on the 10-year Treasury note rose 4.9 basis points to finish trading Tuesday at 4.276%, while the 30-year T-bond yield was up 5.3 basis points at 4.97%. Yields move opposite to debt prices, with the increase coming amid a global rise in long-term yields tied to fiscal worries in the U.K. and France. A heavy calendar of corporate-debt issuance also contributed to weakness in Treasurys.
An appeals-court ruling on Friday that found President Trump's "reciprocal" tariffs illegal also stirred concerns in the Treasury market about the fate of duty revenues. Trump said he would seek an emergency hearing before the Supreme Court.
End in Sight for Alaska’s Long March to Global LNG Market
The Alaska LNG project is once again...
The Alaska LNG project is once again in the spotlight after decades of stalled attempts to commercialize North Slope gas. Glenfarne Group assumed control of the project earlier this year, restructuring it into phased development to make costs more manageable and attract international buyers. The centerpiece is an 807-mile, 42-inch pipeline designed to move 3.3 Bcf/d of natural gas through some of the harshest terrain in North America. Estimated project costs range from $38 billion to $44 billion, driven higher by the need for a $10 billion processing plant to treat sour gas and remove CO₂.
Supporters emphasize Alaska’s geographic advantage: LNG cargoes from the Gulf Coast take months to reach Asia, while Alaska shipments can arrive in weeks, translating into billions in potential savings. Glenfarne points to signed supply agreements, including a 20-year deal with Thailand for 2 million tonnes per annum (mtpa), as proof of momentum. Roughly half of planned production is already reserved.
Still, skepticism persists. Analysts argue that the per-ton capital cost is nearly double that of Gulf Coast projects, and some suggest that political considerations, rather than pure economics, are driving early commitments. Despite these doubts, developers maintain that phased construction, early pipeline revenues, and Asia’s proximity could finally make Alaska LNG commercially viable.
Congress returns from summer break with a shutdown on the horizon
Lawmakers get back to work today in Washington, DC, following their August...
Lawmakers get back to work today in Washington, DC, following their August recess, and the No. 1 priority on Capitol Hill is keeping the government open for business. The federal government will shut down at the end of September if Congress doesn’t pass a short-term spending measure, but expect plenty of inter-party bickering since Republicans, who have the majority, still need Democratic votes for any funding bill. The Dems are planning to use that leverage to extract concessions from the GOP.
And not a moment too soon. The NFL regular season returns Thursday night when the defending Super Bowl...
And not a moment too soon. The NFL regular season returns Thursday night when the defending Super Bowl champion Philadelphia Eagles host the Micah Parsons-less Dallas Cowboys. The next day, the runners-up Kansas City Chiefs face the Los Angeles Chargers in Brazil, one of seven international games on the calendar this season. The rest of the league will join in on Sunday, and there won’t be another Sunday without football until February 2026. The Eagles, Ravens, and Bills are the betting favorites to win Super Bowl 60 in Santa Clara, CA.
Another lackluster jobs report expected. Friday’s...
Another lackluster jobs report expected. Friday’s monthly employment snapshot is projected to show that US employers added 75,000 jobs in July. That would make it the fourth straight month with sub-100k jobs growth—something that hasn’t happened since the beginning of Covid, per Bloomberg. The report will be a key data point for the Fed as the central bank tees up an interest rate cut later this month to help prop up the slowing labor market.
Nestlé, the world’s largest food company, ousted its CEO Laurent Freixe over an “undisclosed romantic relationship” with a direct subordinate.
A 6.0-magnitude earthquake killed more than 800 people and injured over 1,300 in eastern Afghanistan late Sunday.
Starbucks said its newly launched fall menu led to the “best-ever sales week” at company-operated stores in the US.
A CEO of a Polish paving company apologized after a viral video showed him taking a signed hat from a child at the US Open.
The Long Walk, a new Stephen King movie adaptation, held a screening this weekend in which viewers walked on treadmills—and if they got tired, they had to leave.
