🚀 CPI rises in August

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Consumer prices rose more than expected in August, with the CPI climbing 0.4% on the month and 2.9% year-over-year, its highest reading since January, while weekly jobless claims unexpectedly spiked to 263,000, the most since 2021. Core inflation, excluding food and energy, came in at 3.1% annually, aligning with forecasts but still well above the Fed’s 2% target. The combination of sticky inflation and a weakening labor market leaves the Fed facing mixed signals ahead of next week’s policy meeting, but markets are betting heavily on a rate cut, with traders even pricing in the possibility of a half-point move. The data suggest the central bank may be shifting from worrying about inflation persistence to confronting a more pressing slowdown in jobs and growth.

2. Opendoor shares surged 50% Thursday after the real estate platform named former Shopify executive Kaz Nejatian as CEO and co-founder Keith Rabois as chairman, capping a dramatic investor-driven shake-up. The stock, once at risk of delisting after dipping below $1 earlier this year, has now soared more than 400% in 2025, fueled by activist pressure and retail enthusiasm. Nejatian’s appointment follows the resignation of former CEO Carrie Wheeler amid criticism from Rabois and hedge fund manager Eric Jackson, whose online campaign helped rally investors behind a turnaround. The move cements a new chapter for Opendoor, which has become one of the year’s most surprising meme-stock comebacks.

3. Interior Secretary Doug Burgum declared that offshore wind “has no future” in the U.S. under the Trump administration, signaling the clearest rejection yet of the industry by a senior official. Speaking at an energy conference in Milan, Burgum said offshore wind is too costly and unreliable, while confirming that the Interior Department is reassessing five projects already under construction, including Revolution Wind, Vineyard Wind 1, and Empire Wind. Construction on Revolution Wind, which is 80% complete, was ordered to stop in August over national security concerns despite billions already invested. The move underscores Trump’s broader clampdown on renewables, as his administration prioritizes fossil fuels and natural gas while critics warn the rollback could drive up U.S. electricity prices.

   Headlines

   1. The UK has asked the US Foreign Secretary to withdraw US Ambassador Peter Mandelson from his post in the UK following the revelation that he was a close friend of Epstein’s.

   2. Family offices are increasingly putting money into public stocks and lessening their investments in private equity.