Labor Day usually marks the slowdown. Not this year. From corner offices to checkout lines, businesses are scrambling as shaky markets test prices, patience, and loyalty. Tech is still the flashpoint—AI is fueling record demand while doubling as cover for layoffs and financial gymnastics. IPOs are slowly coming back, but only for companies that can prove they’ve got the growth to back it up. Meanwhile, D.C. drama over tariffs and the Fed is shaking currencies, commodities, and investor confidence.
On the consumer side of things, it was all about value this week. Retailers and restaurants are leaning on old tricks to keep shoppers spending. Housing is caught between too many unsold homes and buyers who can’t afford them. And gold? It just smashed a record, flashing a warning about the nerves running through the economy.
Here’s your week in business:
Oracle lays off thousands—or more—globally amid rapid AI shifts
A freh wave of cuts came this week at Oracle. The cuts expanded beyond 101 Seattle layoffs disclosed in state filings, with posts from Kansas, Massachusetts, and Texas suggesting a broader reduction.
Anonymous boards noted that thousands were exiting company Slack, though Oracle hasn’t confirmed totals. The belt-tightening contrasts with record stock highs and “astronomical” cloud/AI demand Larry Ellison touted. Translation: Oracle is racing to fund capacity while reshaping talent for its AI-first road map.
Amazon ends Prime Invitee; household-only “Family” sharing begins Oct. 1
Amazon is sunsetting the Invitee program that let members share shipping perks beyond their household. The replacement, Amazon Family, limits benefits to one co-adult plus up to four kids (and legacy teen accounts), consolidating broader Prime perks under one roof. The move mirrors streaming’s crackdown on out-of-home sharing as Amazon chases higher paid conversion. Expect some churn—and clearer attribution on who’s paying for what.
Frozen veggies recall: Endico peas, carrots, and mixes flagged for listeria
Check your veggies! Endico Potatoes voluntarily recalled 2.5-lb bags of peas & carrots and mixed vegetables sold in six states and D.C. this week due to listeria concerns.
No illnesses have been reported yet, but consumers should check lot codes and return affected bags for refunds. Listeria can be severe for pregnant people, seniors, and immunocompromised individuals. Retailers will be watching inventory pulls and shrink; brands will be revisiting QA and supplier audits.
Homebuilder inventory hits 2009 levels—creating room for deals
Completed but unsold single-family homes rose to 121,000 in July, the highest since 2009. While the Finished Homes Supply Index shows slack growing, it’s nowhere near the 2007–08 extremes. Pressure is sharpest in Sun Belt markets like Florida and Texas, where resale listings run hot. Expect incentives, price trims, and rate buydowns in oversupplied metros as builders protect pace.
Gold sets a record above $3,551—safe-haven bid returns
Gold hit a record high this week. The surge caps a year of +36% gains, fueled by macro jitters, a softer dollar outlook, and expectations for a near-term Fed cut.
Legal uncertainty around tariffs and escalating pressure on Fed independence add to haven demand. Non-yielding assets typically shine in lower-rate regimes—and traders are positioning accordingly. For portfolios, the move is both a hedge and a sentiment signal.
Trump to seek expedited Supreme Court ruling to save emergency tariffs
After a 7–4 appeals court decision found broad IEEPA-based tariffs illegal, the administration is planning a fast-track appeal. If the Supreme Court curtails tariff power, the government could face duty refunds while pivoting to other authorities (e.g., Section 232, Smoot-Hawley §338). The case tests the “major questions” doctrine against executive trade leeway. Markets are bracing for policy whiplash into 2026.
Lucid’s 1-for-10 reverse split fails to stop the slide
LCID executed a reverse split to maintain Nasdaq compliance this week, consolidating shares ten-to-one. The stock still fell double digits post-action and remains down sharply YTD amid missed revenue expectations and steep losses. Reverse splits don’t fix fundamentals; they buy time. Investors want delivery scale, cost control, and clearer demand signals beyond flagship models.
Klarna sets $35–$37 IPO range, eyeing a ~$14B valuation
The BNPL pioneer filed to sell ~34.3M shares on the NYSE under “KLAR,” aiming to raise up to $1.27B. The valuation is well below the 2021 peak but reflects renewed IPO risk appetite for profitable (or near-profit) fintechs with durable top-line. Klarna posted 2024 profitability on rising revenue—now it must show operating discipline at public-market scrutiny. Execution post-listing will determine multiple expansion.
Via Transportation files to go public at up to $44 a share
The transit-tech operator, heavily tied to government contracts, is targeting a valuation up to ~$3.5B. Company revenue more than tripled since 2021, though losses persist with a narrowing trendline. The pitch: software-led, dynamically routed transit that augments aging bus networks. Investors will parse contract durability, unit economics, and path to profit across cities and rural deployments.
Stocks notch worst day in a month as AI leaders drag
Nvidia, Broadcom, and other AI beneficiaries led declines, with the S&P 500 off ~1.2% and yields climbing. Rising long rates, debt sustainability concerns, and political pressure on the Fed weighed on multiples. Tariff-legal uncertainty added noise to Treasury trading. Defensive pockets (hello, gold) outperformed as investors rotated and trimmed froth.
McDonald’s revives Extra Value Meals—for now
Starting Sept. 8, the chain brings back bundled “Extra Value Meals” about 15% cheaper than à la carte, part of a broader value push alongside $5 deals and nostalgic promos. The goal is traffic: meet cost-conscious diners where they are without deep margin erosion. Expect mix shifts toward bundles and potential competitive responses from rivals. Limited-time framing creates urgency—if it works, don’t be surprised by an encore.
