If President Donald Trump follows through on his midterm election pledge to give every American $5,000, how would you spend it?
You could buy Apple's $1,999 foldable iPhone Duo. The company is taking a big risk with its most important product launch in years and new CEO John Ternus needs it to be a success.
That leaves plenty left over to buy the recent dip in the stock market as many were early Thursday. However, with oil prices stubbornly north of $100 and a potential rate hike next week, that's also a big risk. Fortunately Barron's has identified a basket of growth stocks, including Micron and Visa, that are ready for a revival.
Our European friends have no prospect of a government handout, but arguably need it just as much-the continent's natural-gas prices hit a four-year high. The European Central Bank is expected to hike rates today and President Christine Lagarde may tell markets what Kevin Warsh won't.
All in all, maybe it's best to keep that $5,000 on the sidelines for now, particularly as it's far from guaranteed.
You can subscribe to the Barron's Daily newsletter here.
📈 Here's what's happening in markets today:
Dow futures are rising as market shrugs off the oil rally.
TSMC, Cooper Cos., American Eagle, and more stocks that explain today's market.
The ECB could tell markets what Fed's Warsh won't.
2 reasons Cooper Companies stock is by far the worst in the S&P 500 today.
Macy's beats earnings estimates and boosts guidance as spending remains steady.
Why Apple's new foldable iPhone is a big risk for the stock.
TSMC posts record sales. Why AMD and other chip stocks are falling.
Adobe to report first earnings since naming next CEO. AI concerns have hurt the stock.
🍎 Apple unveils highly anticipated foldable iPhone
Apple's new iPhone Duo, its first foldable smartphone, will cost starting at $1,999 and be available on Oct. 23. It's the largest physical change to Apple's flagship device since the first launch in 2007. When closed, the device is about the size of a passport. When opened, it looks like a small iPad. Barron's took a look at the tech giant's latest.
🤖 Google's cool $15 billion solution to the AI energy problem
Google has found a way to combat the sky-high energy costs involved in data centers-build them in an extremely cold country. The Alphabet-owned company is spending $15 billion to build AI infrastructure in Finland, where it converted an old paper mill into a data center in 2009. This latest move includes digital infrastructure and clean energy.
🤝 Looking ahead to Xi Jinping's visit to Washington
Chinese leader Xi Jinping and President Donald Trump plan to meet Sept. 24 in another bid to stabilize the relationship. Last fall's truce paused an escalation in U.S. tariffs, called for China to buy more U.S. agricultural products, and postponed China's stricter rare-earth controls. Analysts are tracking potential hiccups, with the truce expiring Nov. 10.
🛢? Oil at $100 a barrel is the market's round number problem
Oil topped $100 a barrel, which has only happened on three sustained occasions over the past three decades. We could be nearing a fourth as the Iran war escalates, Russia's invasion of Ukraine continues, and domestic stockpiles dwindle to the lowest levels since the early 1980s. It has big implications for inflation, rates, and the midterm elections.
🏈 NFL season will be prediction markets' do-or-die moment
Now that the NFL season has officially begun, all eyes are on prediction markets. Chris Grove, partner emeritus at the gambling industry research company Eilers & Krejcik Gaming, tells Barron's it's a do-or-die moment for the likes of Kalshi and Polymarket, not to mention sports books run by DraftKings and FanDuel's Flutter Entertainment.
💰 Investors pounce on rising yields despite Bessent's move
Investors bought $39 billion of 10-year Treasuries at 4.834%, the highest yield achieved at an auction since 2007. Longer-duration bond yields are rising thanks to strong economic growth, inflation fears, and growing government borrowing. Treasury Secretary Scott Bessent has tried to keep yields in check, but a $6 billion Treasury buyback added volatility.
📰 Don't miss out on our other newsletters
Review & Preview : Oil Up, Market Down
Global Signals : Japan's Rate Decision Could Have Big Implications for the U.S.
Barron's Tech : OpenAI Gets Back in the Game with Astra
🏛? Will Congress embrace this simple fix to Social Security?
There's no easy fix for Social Security, but a plan to raise top earners' taxes has recently gained traction with lawmakers and the public. The proposal isn't new, but it has gained fresh attention as Social Security's insolvency draws near. If Congress doesn't act, the retirement trust fund is projected to run dry in 2032, according to estimates.
💬 Quote of the day:
Other headlines moving markets:
American Eagle Outfitters misses on same-store sales.
Trump's Canada import ban has winners and losers.
Why Chewy stock notched its worst day in a year.
AeroVironment shows there still growth for drones.
Wealthfront earnings beat estimates.
GE Aerospace buys turbine maker in blow to SpaceX.
Micron, growth stocks look for revival. Here are the signs.
How wealth management firms put private capital to use.
Qualcomm's AI chip deal proves Nvidia is still top dog.
Why Comcast's stock was one of the S&P 500's worst performers.
Meta's AI agent for consumers has arrived.
Jersey Mike's first public earnings report was as ho-hum as its IPO.
Charles Schwab's trading data show investors dialing back on risk.
Trump-backed pipeline into New York blocked by judge.
IBM and Lockheed bet big on Europe's thriving quantum scene.
Crypto's power, the AI backlash, and 3 other things to watch in the midterm elections.
European natural gas surges to 4-year high, lifting these energy stocks.
This international manager is betting big on banks and energy, but not tech.
A university's distaste for hedge funds created this new ETF. It's still risky.
-Edited by Liz Moyer, Stacy Ozol, and Patrick O'Donnell