The appeal is not complicated. What has not been worked out is what happens when the agent goes further than you intended.

AI systems have been shown to access authorization codes and bypass spending restrictions without human sign-off. The rules set for them at the app layer are not the same as the rules that hold when money actually moves. A transaction can clear every fraud filter, look completely legitimate on the backend, and still be something you never approved.

Banks, fintechs, and payment providers are all moving in this direction. About 30% of consumers say they would already let an AI agent make purchases on their behalf. In some financial environments, including digital asset platforms, an unauthorized transaction cannot be reversed at all. Regulators have not yet set clear rules for who is responsible when an autonomous system gets something wrong.

The limits you set may not be the limits that hold

The first problem is architectural. When you set a spending limit for an AI agent, where does that limit live? In most current setups, it lives inside a prompt. That is an instruction the agent is given, not a technical constraint enforced at the payment layer. Those are not the same thing.

Also read: Meta Muse gives AMD and Intel investors a reason to cheer

“Spending limits cannot simply live in a prompt; they must be enforced at the wallet or payment layer, covering cumulative spending and actions delegated to other agents,” Sachi Kamiya, Director of Venture and Growth at Sentient Foundation, told TheStreet in an interview. “This is especially important for digital finance, where a technically valid transaction can violate user intent and be difficult to reverse.”

The gap gets wider when agents start passing tasks to other agents. Each one acts within what it understands to be its scope. Collectively, they can push past the boundary you set without any single agent technically breaking a rule. Kamiya pointed to open-source infrastructure as part of what is needed: independent parties verifying how safeguards work, not just taking a platform’s word for it.

Fraud systems were built to stop the wrong problem

The security tools banks rely on today were designed around a specific threat. Someone stole your credentials. Someone is pretending to be you. The defenses built around that idea — PINs, Face ID, behavioral anomaly detection — all assume a bad actor on the other side.

An AI agent with legitimate access does not fit that picture. It is not impersonating you. It is you, as far as the system can tell.

“Today’s payment security assumes a human with a thumb and a heartbeat on the other side of the screen. PINs, Face ID, fraud alerts, all built to catch a stolen human identity. An agent with valid access isn’t stolen. To a fraud engine, it looks like normal traffic,” Roman Yermoshyn, General Manager at GoBTC Pay, told TheStreet. “So the question has to change from ‘is this really you?’ to ‘did you actually allow this?'”

The model Yermoshyn described is one where you define what the agent is allowed to do before it acts. How much it can spend. How often. With whom. Until when. Anything outside those parameters comes back to you. His framing: give an agent a budget, not your bank account.

The precision matters for a reason that is easy to miss. A single hard spending cap might stop one big mistake. It will not stop an agent that misreads an instruction and sends the same smaller payment a hundred times over.

A separate risk runs alongside both of those. An agent decides what to do based on the data it reads. Anyone who can corrupt that data can steer the agent toward a worse outcome for you without ever needing access to your account.

“The first risk is the obvious one: a bug or a hallucination. The agent overspends, buys something that doesn’t match what the user wanted, or simply misunderstands what the user asked for. The second risk is manipulation. An agent makes its decisions based on the data it reads, so anyone smart enough to manipulate that data can push it toward a product or a service that isn’t the best one for the user,” Hugo Renaudin, CEO of Ulys, told TheStreet in an interview.

When an agent gets it wrong, no one knows who pays

The accountability question has not been resolved. If an AI agent pays the wrong party, the list of candidates for who is responsible is long. The company that built the model. The app that gave it financial access. The institution that processed the transaction. The user who set up the permissions in the first place.

Right now, none of those parties have clear obligations mapped out. That is not a theoretical gap. It is a gap that will produce real disputes.

“The industry needs clear rules for what agents can authorize, when users must approve an action, and who is responsible when something goes wrong,” Kamiya said. “Users should be able to see what an agent is doing, pause it, and revoke access easily.”

More Artificial Intelligence:

• AI’s biggest business opportunity may not look like AI
• AI racks are outgrowing old power: 2 chipmakers have a strategy
• BofA splits software into winners and losers as AI agents arrive

That kind of visibility is not standard today. Most people who use financial apps with AI features have no straightforward view into what the agent is doing in the background. Revoking its access is not always a simple step either.

What the industry needs to build before this scales

Both experts pointed to the same structural requirement. The system that approves a payment has to be separate from the agent requesting it. An agent cannot be the one deciding whether its own action is permitted. A Cloud Security Alliance survey found that 65% of security leaders believe AI agents in payments will require an entirely new authorization model, a shift the industry has not yet made.

“The system that approves a payment must be separate from the agent requesting it, because an agent should never approve its own actions. And every transaction needs a clear trail of who authorized what,” Yermoshyn said.

There is also a precondition that sits upstream of all the structural fixes. Changes to rails and authorization frameworks will not deliver much if the models running inside these agents are still too unreliable to be trusted with money.

“Before the digital finance industry changes, the AI models have to get better. They need to hallucinate less, be much more reliable and understand better what users actually want. We are still early: today there are too many errors, and that isn’t acceptable at the scale of trillions of dollars in transactions, but it will be soon,” Renaudin said.

Three things come up across all three conversations: permissions that are programmable with limits, scope, and an expiry date; a technical separation between the approving system and the acting agent; and audit records that trace each payment back to a specific authorization.

None of those are new concepts in regulated finance. They are standard in other contexts. The issue is that AI agents are entering payment systems before the governance frameworks that would normally come with them.

For you, the practical question is not whether these tools are coming. They are. It is whether, when you start using them, the financial institution behind the product has built the controls that keep you in charge of what happens next.

Related: Google set to challenge Meta Muse in the Agentic AI race

Why we love this deal

Outdoor-friendly folks know that camping is a year-round adventure, one that doesn’t stop just because the weather cools off. In fact, with the right gear, lots of campers find fun bundling up in heavy-duty sleeping bags, layering up to keep warm, and investing in top-of-the-line gear like the Lilypelle Inflatable Hot Tent so that they can enjoy the hobby 365 days a year. With temperatures starting to really dip now that we’re into November, keeping warm is a top priority, one you can easily manage with great sales to help you get everything you need without breaking the bank.

The Lilypelle Inflatable Hot Tent, which is specially designed to house wood-burning stoves, originally retails for $460. Thanks to a Walmart Flash deal, you can now get the eight-person tent for 48% off. Save $219 and get the four-season inflatable hot tent for only $241 while you still can. 

Lilypelle Inflatable Hot Tent, $241 (was $460) at Walmart

Why do shoppers love it?

From the get-go, this inflatable hot tent is a dream. It’s designed for quick and easy setup, with the seamless thermoplastic polyurethane (TPU) air frame that inflates with the manual pump, no poles necessary. 

Measuring 9.8 feet long, 6.9 feet wide, and 6.4 feet high, it comfortably fits up to six people, with a maximum occupancy of eight (if you’re not using the tent for sleeping purposes). The 6.4-foot center height comfortably allows most adults to stand upright and move easily. The tent is made with a tear-resistant 420 D Oxford fabric that has a polyurethane (PU) coating and a UPF 50+ sun protection. This provides heavy-duty structural support that protects against rain, wind, and UV rays. And because it’s specifically designed as a hot tent, it has a specialized stove jack for wood-burning stoves, ensuring you get lots of warmth during cold conditions, complete with chimney venting for safe heating or cooking. 

The tent has a traditional A-frame design, with double-layer zippered doors and windows along all four sides. They are made with mesh, so they provide 360-degree airflow while keeping insects and bugs out. 

Related: Walmart has an all-season heated camping chair for only $76

With your purchase, you receive the manual air pump along with stakes, rope, and a carrying case. You also get canvas repair patches for times when you need to mend an accidental puncture or rip in the fabric. 

Details to know

• Dimensions: This tent measures 9.8 feet long, 6.9 feet wide, and 6.4 feet high. 
• Material: 420D Oxford fabric with a waterproof polyurethane coating. 
• Space: 67.85 square feet.
• Occupancy: Eight people. The tent is available in 6-, 10-, 12-, and 14-person occupancy sizes. 
• Styles: Four. 

Shoppers can’t say enough good things about this tent, with many calling it “the best tent” they’ve ever had. It’s very well-designed and easy to inflate or take down. It’s very heavy-duty and can withstand all kinds of weather, while being sturdy and very roomy. 

“I have a queen-size cot with a mattress, and it fits with plenty of room to spare for luggage and a heater if needed,” one shopper said. It’s very warm and feels safe even when using a stove in an enclosed space. “This is now the second tent we have bought from them,” another shopper wrote. “The first one was up for an entire year through a NY winter, and it held up fabulously. We merely wanted a bigger one.”

Shop more deals 

• Garvee Insulated Pop-Up Ice Fishing Tent, $136 (was $201) at Walmart
• Kffkff Camping Hot Tent, $70 (was $83) at Walmart
• Naturehike Dune Hot Tent, $359 (was $390) at Walmart

Perfect for adventure seekers who don’t let a little chill deter their camping experience, the Lilypelle Inflatable Hot Tent will only be available at 48% off for a few more days, so take advantage of the incredible deal while you can. 

The Transportation Department estimates that drivers may spend more than $1,600 extra on gasoline over a vehicle’s lifetime compared with what they would have paid under the previous standards, Reuters reported Nov. 2.

That’s an unusual trade-off.

In addition, it’s important to note that the new rules don’t guarantee lower prices for car buyers, since manufacturers may not pass on their production savings to consumers. Meanwhile, higher fuel expenses are contingent on future gas prices, the vehicles individuals purchase, and how much they drive.

In response to a legal challenge from California and other states, Ford Motor (F), General Motors (GM), and other major manufacturers are now defending the updated rules.

It makes sense that automakers would support them. Popular gas-powered trucks and SUVs might become more profitable with less stringent fuel-economy regulations, which would also lessen the need to invest in expensive technology.

Stronger margins might also benefit stockholders.

Still, for someone buying a new vehicle, it raises a question: Will a cheaper car today become a more expensive one to own tomorrow?

Ford and GM could save billions under the new rules

The Transportation Department finalized a fleet-wide fuel-economy target of 34.9 miles per gallon by 2031, down from the 50.4 mpg target approved under former President Joe Biden, Reuters reported.

The numbers do not represent the miles that each new car must attain; rather, they represent regulation fleet averages.

The government believes the loosened regulations may lower automakers’ technology costs by $60.6 billion through 2031, according to Reuters.

Ford could save around $5.8 billion, while GM alone could save an estimated $20.4 billion.

These numbers do not necessarily indicate increases in business profitability. Rather, they show anticipated decreases in cost linked to compliance when compared to the prior standards.

Because Ford and GM depend so largely on lucrative gasoline-powered trucks and SUVs, the savings are significant.

Manufacturers were under pressure to implement fuel-saving technology and boost sales of electric cars under the prior regulations. Now they will have greater freedom to choose which cars to develop and market.

The Alliance for Automotive Innovation said in a court document seen by Reuters that manufacturers need stable laws in order to make investment plans and create new models.

“Automakers require certainty and stability in the standards,” the Alliance said.

Drivers could face a different bill at the gas pump

The potential consumer savings come with an important condition.

In its final rule published Sept. 30, NHTSA said average vehicle costs could decline by $1,289 in model year 2031 if manufacturers pass the savings on to buyers.

The agency did not guarantee that dealership prices would fall by that amount. It also forecasted that, compared with prior requirements, gasoline consumption will rise by 4.6% through 2050.

Reuters reported that the increase represents approximately 121 billion additional gallons of gasoline.

That does not imply that all new cars will lose efficiency. Even as drivers’ actual expenses vary depending on the vehicle, usage, and gas prices, automakers can continue to improve fuel efficiency.

However, there may be a financial trade-off. After saving money at the dealership, consumers may pay more at the pump over the long term.

More Automotive:

• ‘Too late’ for Europe, Ford CEO warns as Chinese cars eye U.S.
• Trump’s latest gift to automakers has major consequences
• Rivian sends safety message to thousands of drivers

California Attorney General Rob Bonta pushed back on the administration’s strategy.

In an Oct. 2 announcement, Bonta said a coalition of 26 states and local governments had challenged the rollback, arguing that NHTSA failed to establish the maximum feasible fuel-economy standards required by law.

Additionally, the group questioned how the government included electric cars in its research.

Ford and GM face a test beyond regulatory savings

Lower compliance expenses may be a welcome relief for shareholders.

While adjusted operating profits rose 3% to $2.7 billion, Ford reported third-quarter sales of $49.5 billion, down 2% from the same period last year.

Ford’s improved profitability, as noted in its Oct. 28 results commentary, was partly due to a stronger mix of higher-margin vehicles, including off-road models.

Reduced regulatory costs may support such an approach. However, additional pressures on manufacturers would remain.

For purchasers, factors including car affordability, finance expenses, insurance, and gas prices are still crucial.

The ongoing legal challenge is another issue. NHTSA’s final rule is scheduled to take effect on Nov. 30, but the litigation introduces uncertainty for manufacturers planning vehicles years ahead.

Whether Ford and GM can turn regulatory savings into higher profits and sales is a crucial concern for investors.

The question for customers is whether a cheaper purchasing price eventually overcomes higher gasoline costs.

Government statistics do not prove that every buyer would experience financial loss. The real expenses will differ from the projected averages.

They do, however, highlight a conflict that car buyers should be aware of.

Related: Ford sets 2027 goal to dethrone Toyota in certified used cars

But over the last few decades, the rise of online booking platforms and ease with which people can book their own flights and hotel stays has fundamentally altered the travel agency market. The number of British travel companies not able to survive these economic headwinds has been particularly high.

Trav Expert, Groupia, Salamander Voyages, Travel Bespoke, Regen Central, Set Sail Cruises, Yourtravelshop.com, Ski Yodel, and TS Travels Group are all among the names that have either ended up in insolvency proceedings or shut down operations entirely in 2026.

Norfolk travel agency Wroxham Travel shuts down in administration

The latest name to join this list is Wroxham Travel, a Norfolk-based travel agency that has been in business since 1987. The travel company entered administration, which is the insolvency process most closely resembling a company filing for Chapter 11 bankruptcy in the U.S., on Oct. 30.

For the last 39 years, the travel agency sold Brits in the East Anglia region holiday packages both domestically (bus tours to London and other destinations) and to countries such as Spain, Italy, Türkiye, Indonesia, Zambia and Mauritius.

Read more: Cruise line that left travelers stranded will file for Chapter 11 bankruptcy

Both of the two physical Wroxham Travel storefronts in Norfolk now appear to be closed while the website for the travel agency goes to a broken link.

“We are sorry to inform you that Wroxham Travel has ceased trading with effect from October 30, 2026,” the Association of British Travel Agents (ABTA), the national organization representing travel agents and tour operators, said in a statement. “We are now treating this as a financial failure.”

‘Your booking should continue as normal:’ ABTA on canceled flights

On its website, Wroxham has been advertising tours for sale as early as the end of September. According to ABTA, those who bought a flight or hotel stay through the company should still be able to use it provided that they have a direct booking.

Travelers are advised to immediately check their booking to ensure that this is the case. In the alternate case of a canceled trip, customers will need to go through the process of seeking compensation through the Air Travel Organisers’ Licensing offering consumer protection in case of insolvent companies.

More Travel News:

• Airline to launch unusual new flight to Cayman Islands from the U.S.
• There is a very cool Irish version of swimming pigs in The Bahamas
• Unexpected country is most luxurious travel destination for 2026

All future trips advertised on Wroxham Travel have been canceled.

“Your booking should continue as normal, and they will be your direct point of contact,” ABTA said further in its statement. “Please ensure that you have all your documentation with you, as they may require information from it to assist you.”

Some other travel agencies that ended in insolvency in 2026:

• AVG Travels: The Melbourne-based travel agency selling cheap vacation packages to travelers in Australia and New Zealand sent more than 200 customers an email saying that the trips were canceled before entering bankruptcy in May 2026.
• GoPlay Sports: In April 2026, the men’s basketball team of the University of Dallas was left without a planned trip to compete in the United Kingdom after Boston-based GoPlay Sports Tours LLC accepted two payments of $30,000 and then went unreachable.
• Havantur: Havantur was forced to shut down its main European office in France at the beginning of 2026 after tourist numbers to the Caribbean country plummeted due to U.S. military actions in Venezuela and threats against the country.
• Vegas Vacations and North America Destinations: Two travel agencies in the Canadian province of British Columbia, Vegas Vacations and North America Destinations, were shut down by regulators within a few days of each other in January 2026 after multiple travelers complained of buying trips and receiving invalid plane tickets and hotel bookings.

Related: Another travel company ordered to close in bankruptcy, cancels all trips

That’s exactly the question Wall Street’s been asking about AI stocks over the past several months.

Spending on chips and data centers helped propel stocks higher for years. For perspective, the S&P 500 was up 10.6% in 2026 through November 3, even as AI shares grew jittery. If performance holds, this year will mark the fourth consecutive year of double-digit gains for the benchmark.

While some worry that Democrats capturing both chambers of Congress in the midterm elections, as reported by AP News, adds scrutiny to a nervous market that could weigh on AI stocks, Bank of America now sees a twist investors might not have expected. 

In a note shared with me, the bank’s analysts argue that slower AI spending, due in part to post-election regulatory roadblocks to data center builds, might actually prolong the boom, regardless of the midterm election adding to uncertainty. The question is: could the very thing investors fear most end up giving the AI-driven stock rally a second life?

Bank of America says slower AI spending could extend the boom

Bank of America is challenging a common theme on Wall Street that ever-higher spending is always better for chip stocks.

More Artificial Intelligence:

• AI’s biggest business opportunity may not look like AI
• AI racks are outgrowing old power: 2 chipmakers have a strategy
• BofA splits software into winners and losers as AI agents arrive

The bank’s argument turns on one condition. Demand for paid computing must remain strong even if the pace of new data center construction slows.

“Slower supply growth against resilient demand could lift utilization, support pricing and reduce overbuild risk,” the bank’s analysts wrote as reported by Seeking Alpha.

Naturally, idle servers produce little revenue. If too much computing capacity floods the market, providers may slash rental prices to attract customers, making the next expensive expansion harder to justify.

A more measured rollout could avoid that trap.

Importantly, demand hasn’t collapsed as investors fear. Based on the latest quarterly reports, Amazon Web Services revenue grew 39% year over year, Microsoft Azure climbed 48%, and Google Cloud surged 103%.

For Microsoft in particular, the improvements to its existing GPU fleet helped it serve more customers and earn more revenue per AI token. Better use of installed hardware, in other words, can be valuable without another spending surge.

The financial stakes are immense, though. BofA forecasts combined free-cash-flow deficits for eight hyperscalers and neoclouds to rise from $128 billion in 2026 to $335 billion in 2027, then narrow to $77 billion in 2028.

“The market therefore appears to be discounting capex risk before the demand data have cracked,” the analysts wrote.

BofA’s trade-off is potentially lower peak earnings but a longer profit cycle, which could support chip-stock valuations.

How AI spending became Wall Street’s biggest bet

You’d probably think AI is a story about software breakthroughs. On Wall Street, though, it has become effectively a story about who can spend the most money building the machines behind them.

Goldman Sachs estimates global AI investment will exceed an eye-popping $1 trillion in 2026. U.S. hyperscalers alone are expected to spend roughly $800 billion on capital projects, and even though not every dollar goes toward AI, the amount is staggering, to say the least.

Big Tech giants like Amazon have projected $220 billion in capital spending for 2026, while Alphabet expects $195 billion to $205 billion. Essentially, those budgets are a windfall for Nvidia’s chips, Broadcom’s networking equipment, memory suppliers, and semiconductor manufacturers.

Unsurprisingly, investors have followed the money.

State Street estimates the Magnificent Seven generated 62% of the S&P 500’s return in 2023 and 53% in 2024. AI Capex has effectively driven the market, and Goldman Sachs estimates AI investment accounts for nearly half of the index’s expected earnings-per-share growth in 2026.

The big assumption is that greater capacity today would produce bigger profits tomorrow. On the flip side, though, a larger data center budget also means larger bills for the companies writing the checks, without guaranteeing that customers will pay enough for AI to justify them.

Amazon illustrates the tension. Even as its cloud business accelerated, the company reported a $42.4 billion trailing 12-month free cash flow outflow, partly reflecting its aggressive infrastructure investments.

Wall Street has spent years rewarding the AI buildout. Now investors are asking whether the same spending could eventually undermine it.

What Democrats’ midterm victory means for AI stocks

The midterms offer a new reason for AI investors to question the spending boom.

Democrats won control of both chambers of Congress on November 3. The initial reaction, as of 10:30 am EST, is the Nasdaq and S&P 500 gaining 2.1% and 1.6%, respectively.

Yes, backlash against data centers has become a key issue in recent months, and state and local decisions on permits and power infrastructure could slow construction, particularly in major hubs such as Texas, as Democrats push for greater scrutiny of the industry’s expansion.

But Democratic control doesn’t guarantee sweeping AI legislation. President Donald Trump retains veto power, making gridlock a possibility.

Moreover, as I recently covered, Morgan Stanley analysts argued that chipmakers’ earnings depend heavily on a handful of major tech companies and that several manufacturers could be hit if hardware orders slow.

History offers encouragement, not a promise. Fidelity says the S&P 500 rose in 95% of the 12-month periods following midterms since 1938, a pattern not tied to either party winning.

For 2027, watch Big Tech’s spending guidance, cloud revenue growth, server utilization, free cash flow, and chip orders. The election may shape the rules. Whether AI investments earn their keep will determine much more.

Related: Morgan Stanley issues a fresh warning about AI stocks

You brace for the turkey and price out the sides. You watch the grocery total climb and decide that is where the squeeze lives.

For most of the past four years that instinct was sound, because food at home carried the inflation story and the Thanksgiving table was the line item that moved.

That has changed. Federal price data for September puts the table close to flat and puts the cost of reaching it up more than a fifth.

Vivian Tu, the social media personal finance personality and best-selling author, pointed her readers at the right line on Sunday, and the government numbers released three weeks earlier say she is right by a wider margin than her own newsletter claims.

Tu told readers to book immediately

“If you haven’t booked your flight home for the holidays, I suggest you get on that ASAP,” Tu wrote in the Nov. 1 edition of her enRICHed newsletter, published on Substack under her Your Rich BFF brand.

She put domestic economy round-trip Thanksgiving fares up nearly 24% year over year and international fares up roughly 33%, citing reporting by Forbes.

More Travel: 

• Air France exits entire market again
• American Airlines leaves empty seats while charging flyers more
• EasyJet will pay for your child’s first passport

Those figures come from Fareportal, the travel technology company behind CheapOair and OneTravel, according to the Forbes piece, which was published Oct. 12 and updated Oct. 23.

Tu runs the AI money app Ask Dolly and promotes it inside the same newsletter’s reader question section, so the advice arrives alongside a product she owns.

Government data backs the fare call

The Bureau of Labor Statistics put its airline fares index up 22.4% over the 12 months through September, in the Consumer Price Index release issued Oct. 14.

That lands within two points of the Fareportal number Tu cited, which is unusually close agreement between a company’s booking data and a federal index.

Fares also rose 1.2% in September alone on a seasonally adjusted basis, after gains of 2.2% in July and 2.7% in August, per the same release.

Related: Vivian Tu sounds the alarm on a hidden tax hitting your wallet

The engine is fuel. Gasoline of all types ran up 34.2% over 12 months and the full energy index gained 20.4%, with gasoline alone accounting for over half of September’s entire monthly price increase, the bureau said.

Airlines have been unusually willing to protect those prices, and American Airlines (AAL) has told investors it will accept emptier planes rather than discount seats.

The dinner is the cheap part

PwC expects Thanksgiving to cost the average American family about $90 this year against $88 last year, Ali Furman, the firm’s consumer markets industry leader, told Good Morning America in an exclusive shared with ABC News on Oct. 15.

That is a $2 increase, or 2.3%.

Set the two side by side and the holiday math inverts. Airfares are climbing nearly 10 times faster than the Thanksgiving meal.

The table is not uniformly cheap. Turkey will cost Americans nearly 8% more than last year and a smaller cranberry harvest pushes cranberry prices up nearly 15%, Furman told the program.

Federal data corroborates the turkey figure almost exactly. The index for other uncooked poultry including turkey rose 8.4% over 12 months, per the September CPI.

The offsets are real too. Butter is down 10% and cream is down 6%, Furman said, and the CPI has butter down 10.3% over the same 12 months.

Food at home across the whole basket rose just 1.8% over the year, which is less than half the 3.7% headline inflation rate.

At a glance

12-month price changes through September 2026

• Airline fares: up 22.4%
• Gasoline, all types: up 34.2%
• Energy: up 20.4%
• Other uncooked poultry including turkey: up 8.4%
• Food at home: up 1.8%
• Butter: down 10.3%
• All items: up 3.7%
• Average hourly earnings: up 3.0%, to $37.81
• Personal saving rate, September: 3.8%

Sources: Bureau of Labor Statistics Consumer Price Index and Employment Situation releases, Bureau of Economic Analysis personal income release

Your pay did not keep up

Average hourly earnings for private nonfarm workers reached $37.81 in September, up 3.0% over 12 months, the Labor Department reported Oct. 2.

Hold that against 3.7% headline inflation and the average paycheck lost roughly 0.7 percentage points of purchasing power over the year. That subtraction is ours, not the bureau’s.

Run the holiday basket through the same wage figure and the ranking is stark. Airfares rose about seven and a half times faster than pay.

Gasoline rose 11.4 times faster than pay.

The Thanksgiving meal is the only item on the list that rose slower than your wages, by about seven tenths of a point.

The cushion is thinner at the same time. The personal saving rate fell to 3.8% in September from 4.5% in July, its lowest reading of 2026, per the Bureau of Economic Analysis release of Oct. 29.

Real disposable personal income fell 0.3% in September, the same release shows, even though income in current dollars rose 0.2%.

That pressure is already showing up in how people pay for the season, with some shoppers trimming groceries to fund gifts.

Shipping gifts gets more expensive too

Pricing for express parcel deliveries is forecast to jump 13.8% in the fourth quarter against the same quarter of 2025, according to the TD Cowen/AFS Freight Index as reported by Reuters on Oct. 26.

Ground delivery pricing is forecast up 5.8% over the same period.

United Parcel Service (UPS) is charging a 29.5% fuel surcharge and FedEx (FDX) is charging 29%, Reuters reported, at an average diesel price of $6.28 a gallon.

“Fuel is front and center in everybody’s consideration and, again, no real good news there,” Mingshu Bates, chief analytics officer at AFS Logistics, told the news agency.

The index reports percentage changes rather than dollar amounts, because parcel costs vary by weight, size and destination.

What it means for you

Move your holiday cutting to transport and leave the menu alone. A 2.3% meal increase is not where your money is going.

Book the flight this week rather than next. Fares gained ground in each of the last three months the bureau has measured, so waiting has carried a cost all autumn.

Shift the trip off the peak days if the dates are yours to choose. Departure and return timing moves a holiday fare far more than 22.4% ever will.

Buy shelf-stable ingredients now while they are on promotion, which is the one piece of Tu’s food advice the price data supports outright.

Ship gifts on ground service, and buy in person where you can. The forecast gap between express and ground this quarter is eight points.

Do not solve a transport problem with a credit card, because holiday card balances outlive the trip that created them.

The rest of the season still has a year-end money checklist attached to it, and open enrollment closes before the first flight boards.

The October price data arrives Nov. 18 and the October jobs report lands Nov. 6, which together will show whether fares kept climbing into the booking window.

Watch the energy line in both. Every holiday number that is actually hurting traces back to fuel, and the Thanksgiving table is mostly a bystander this year.

Related: Vivian Tu’s IPO warning lands as SpaceX buyers split by $1,851

Cuban is urging investors to resist the temptation to chase soaring stocks, keep some money available and wait for the next market downturn. The opportunity, he believes, comes when prices fall and investors with cash can move while others are scrambling.

Read more: Mark Cuban says the ‘best’ guaranteed ROI on $100K is bulk toothpaste and soup

Cuban explained why patience can pay off more than trying to catch every market rally while speaking on “The Diary of a CEO” podcast with host Steven Bartlet on October 26.

“You can invest a little bit for the fun of it, but be patient, have some cash because at some point it’s going to turn,” Cuban said during the interview. “When that happens, that’s when the real magic happens and where the real money is made. The delayed gratification.”

He pointed to the COVID-19 market sell-off as an example of putting that philosophy into action.

“During COVID I just started buying up everything when it hit. And I crushed it,” Cuban said on the podcast.

Why Cuban thinks cash matters before the next market downturn

The familiar saying that cash is king has been repeated by investors for generations, but Cuban has made it a central part of his own investment philosophy. 

In a 2008 Blog Maverick post titled “How to Get Rich,” he argued that investors should save money not just for retirement, but for the opportunities that emerge during market turmoil.

“The first step to getting rich is having cash available,” Cuban wrote. He added, “You aren’t saving for retirement. You are saving for the moment you need cash.”

He also criticized the buy-and-hold approach for leaving investors with little money available when stocks fall. His conclusion was blunt: “Cash is king for those wanting to get rich.”

His mindset echoes the approach taken by Berkshire Hathaway, the conglomerate led for decades by Warren Buffett. Berkshire has maintained enormous cash reserves while waiting for investments that meet its standards.

More Warren Buffett:

• Warren Buffett’s $142 billion fortune hits a new milestone
• Warren Buffett’s farewell letter has 4 words for every investor
• Warren Buffett shares a simple rule for surviving a market crash
• The 3 biggest mistakes Warren Buffett made as Berkshire CEO

In its 2025 annual report, Berkshire addressed criticism of its substantial cash position, explaining that it reflects patience and discipline rather than an abandonment of investing. The company said it would continue pursuing the right opportunities for shareholders.

The strategy isn’t unique to Cuban. It’s a familiar approach among investors who believe the ability to act when prices fall can be just as valuable as owning stocks when prices rise.

Most Americans have their 401(k) money invested in stocks

There’s one major difference between Cuban’s strategy and the financial reality facing millions of American households.

For many workers, retirement savings aren’t sitting in cash waiting for a market correction. They’re invested in mutual funds, index funds and target-date retirement funds that often hold substantial stock positions.

According to Vanguard’s How America Saves report, the average participant-weighted allocation to equities among its defined contribution plan participants was 78% in 2024. At the median, participants held 87% in equities.

That means many retirement savers are exposed to market movements whether they actively follow stocks or not.

Cuban’s comments don’t mean workers should empty their 401(k)s or abandon long-term investing. He didn’t recommend a specific cash allocation or tell investors to sell their retirement holdings.

Instead, his message centers on keeping some financial flexibility rather than feeling compelled to invest every available dollar immediately.

The real advantage comes when other investors panic

Cash doesn’t guarantee a profit, and waiting for a market crash can mean missing years of potential gains if stocks keep climbing.

But Cuban’s COVID example illustrates why having money available can matter when markets suddenly sell off.

The broader lesson is familiar to long-term investors. Opportunities don’t always appear when markets are booming. Sometimes the biggest advantage belongs to those who have the patience and financial flexibility to buy when everyone else is running for the exits.

Related: More Cuban:

Back then, the department store was one of the nation’s largest non-food retailers, and its annual “wish book” was one of its cherished traditions. 

But oh, how times have changed.

Today, JCPenney is struggling to remain relevant with consumers and is fighting for its future in an increasingly competitive retail environment.

In 2026, the department store chain closed six stores and saw net sales drop by more than 8% year over year, according to reporting from TheStreet and Retail Dive. 

But the mall classic isn’t throwing in the towel just yet. It recently announced its holiday deals, betting that major savings will be enough to bring shoppers back through its doors.

JCPenney promises major savings for holiday shoppers

This holiday season, JCPenney says it’s helping shoppers save by putting 97% of its assortment on sale.

“As America’s Favorite Department Store, JCPenney has always been the place families trust for quality and value,” the retailer said in a statement. “In fact, 92% of budget-conscious shoppers say they are confident, ‘I got a good deal’ at JCPenney.”

These deep seasonal discounts, then, are intended to help strengthen perceptions of the chain as being a budget-friendly destination. 

In addition to the sale, the department store also pledged to clarify discounts and deals, letting shoppers know exactly when to buy specific items to get the best savings.

To that end, “JCPenney is doing something most retailers won’t do: revealing its holiday playbook and guiding consumers through the season with exactly what to buy and when to buy it so they can feel more confident saying, ‘yes,’” the statement shared.

JCPenney needs more than holiday sales to turn things around

This new approach to holiday savings comes at a particularly crucial time for the department store.

After filing for bankruptcy in 2020, the chain was eventually purchased and underwent a major restructuring. As part of that, TheStreet’s Fernanda Tronco reported that it has closed more than 200 stores over the last six years.

More holiday shopping news:

• Walmart gets aggressive when it comes to holiday sales
• Target raises price of annual grocery deal for holiday shoppers
• Walmart joins Starbucks in adding collectable holiday collection

Now owned by Catalyst Brands, the chain has a chance at a second life, but is still struggling financially and reputationally.

“JCP remains financially stable and with the backing of Catalyst and investors it’s really not going anywhere,” Saunders told Retail Dive recently. “And, to be fair to the company, it’s not being run into the ground in the way Sears was — on the contrary, there is investment and effort to rebuild things.”

That being said, financial stability doesn’t necessarily translate to a successful retail and reputational comeback. 

JCPenney is now in the tough position of having to convince consumers that it still has something to offer in an increasingly crowded retail market, particularly as shoppers have more options than ever for finding affordable clothing, home goods, and other everyday essentials.

That’s where the holiday deals come in.

If JCPenney can earn the trust of the value-seeking shopper during this high-stress, high-spend season, it has the opportunity to turn them into consistent visitors and regain some of its foothold in the sector.

But the challenge extends beyond simply getting shoppers through the doors over the next few weeks. The department store also needs to turn that renewed interest into sustainable sales growth.

“Penney’s holiday performance will test whether its combination of affordability, apparel, home and beauty can drive traffic and spending without excessive discounting,” Glenn McMahon, partner at MAC Advisory and Consulting, told Retail Dive.

“The issue is not simply whether consumers will spend; it is whether [JCPenney] can convert holiday demand into enough profitable sales and cash flow to address deeper business challenges,” he added.

Related: Bath & Body Works makes a big move for the holidays

In March 2026, JetBlue Airways became the first major carrier to raise the cost of luggage on domestic flights from $35 to $39, on top of additional fees for those who wait until less than 24 hours before departure to add luggage to their booking.

United Airlines became the next to raise the cost of a checked bag on North American flights to $45. Delta Air Lines also followed with a bump of $10 shortly after.

JetBlue to charge $70 for checked bags during peak travel periods

Nearly nine months into the unrest that shows no signs of slowing down, jet fuel prices still sit at historic highs. Citing this expense, JetBlue has now raised the cost of checking a bag for the third time since the start of the year after making small adjustments to extra fees following the major increase in March 2026.

Read more: JetBlue exits an entire market

This time, the price will go up from $45 to $50 for economy travelers on flights within North America that pay for their baggage at least 24 hours before the flight and $60 if paid within 24 hours of departure.

The airline is also adjusting its peak holiday and summer pricing from $49 to $55 when booked ahead of time and $70 for those who pass the 24-hour window. The latter price for a basic bag within the 50-pound limit means that JetBlue had set a new high for the highest baggage fees across the industry.

‘Adjusting checked bag fees to help offset rising fuel and operating costs:’ JetBlue on bag fee increase

“We’re adjusting checked bag fees to help offset rising fuel and operating costs,” JetBlue said in its statement on the increases. “This helps us keep our base fares competitive while giving customers the choice to pay for a checked bag only if they need one.”

Jet fuel prices sat at $4.44 a gallon as of Nov. 4, up from an average of $2.42 per gallon in November 2025. The increases do not affect JetBlue economy travelers on transatlantic flights where a checked bag is included in the price of the ticket or travelers in higher fare classes.

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Travelers using a JetBlue Plus, Premium, or Business Cards can waive the fee for their first checked bag.

But for those wanting to bring a second bag, the final price tag will get even steeper with an increase from $70 to $75 and up to $85 during peak periods.

The fees have come into effect on Nov. 3 and apply for all bookings after that date. Tthose who already purchased their ticket prior to that date will be subject to the old pricing structure even if travel is still many months ahead.

Related: The domino effect of airlines raising baggage fees has started

The venture collapsed about four years ago, the couple behind it split up, and the caller was left with a difficult choice: sue or walk away.

Host and personal finance author Dave Ramsey responded with advice he has repeated for years: Either treat money given to relatives as a gift or decline to lend it in the first place.

But the caller’s experience raises the bigger question of what happens when financial help within a family goes wrong.

Also Read: Dave Ramsey’s retirement spending rule hits a market test

Ramsey’s blunt rule on why relatives should never be borrowers

Ramsey argued that calling a family transfer a “loan” creates two possible failures at once, because the lender risks both the money and the relationship.

Someone who cannot repay a relative tends to avoid the conversation altogether, which erodes the bond from both sides over time.

His exact words during the Oct. 16 episode spelled out the rule without caveats.

<strong>Never loan family money under any circumstance. If you have the money, you think they need it, and you want to give it to them, give it. But if you won't give it to them, then you shouldn't be doing this</strong>.

A YouGov poll of 2,225 adults, commissioned by Bankrate in November 2021, found that 44% of people who helped a relative or friend financially experienced a negative outcome. Among that same group, 38% of lenders lost money outright, and 23% reported that the relationship was harmed.

Lenders in that group got burned one way or another, either losing money, suffering credit damage, or watching the relationship break down, Ted Rossman, former principal analyst at Bankrate, told ABC7 News.

The tax code favors outright gifts over informal loans between relatives

The gap between gifts and loans extends into federal tax law, because the Internal Revenue Service (IRS) draws a sharp line between them. A gift within the annual exclusion generally requires no filing, while an informal loan demands a level of formality most families skip.

Intrafamily loans must have a signed agreement, a fixed repayment schedule, and an interest rate at or above the IRS Applicable Federal Rate (AFR).

A loan missing those elements can be reclassified as a taxable gift, and the lender may owe tax on interest never collected, Charles Schwab explained in its guide to family lending.

More Dave Ramsey:

• Dave Ramsey warns American workers on 401(k)s, IRAs, Social Security
• Dave Ramsey warns Americans on 401(k) plans
• Dave Ramsey says this insurance product is horrendous for families

The gift route sidesteps that complexity, because the 2026 annual exclusion lets each person transfer up to $19,000 per recipient without filing.

Married couples can double that figure to $38,000 through gift splitting, and the lifetime exemption stands at $15 million per person, the IRS confirmed.

Most families will never owe gift tax at those thresholds, which removes the last practical argument for structuring family help as a loan.

How a $200,000 gift changes a retiree’s annual spending

The caller’s $200,000 figure has a deeper consequence for anyone living on a fixed retirement income because the loss isn’t a one-time hit.

Using the commonly cited 4% withdrawal rate as a benchmark, that sum supports roughly $8,000 in annual spending power, 24/7 Wall St calculated.

A retiree with $400,000 in savings who gives away half drops annual income from $16,000 to $8,000, a 50% pay cut that changes daily life. A retiree with $2 million faces softer arithmetic, because $200,000 is 10% of the portfolio and income falls from $80,000 to $72,000,

That contrast is the core of Ramsey’s “if you have the money” test, a practical retirement-income stress check. Ramsey would reject a gift that halves a modest nest egg, though the same amount barely registers against a large portfolio.

Compounding widens the loss further, because $200,000 earning a 7% average annual return would grow to roughly $393,000 over a decade, 24/7 Wall St noted.

The caller lost the original transfer, along with years of potential investment growth that her retirement portfolio can never recover.

What to weigh before answering a relative’s request for money

Whether to give the money as a gift or extend it as a loan depends on the strength of the lender’s familial relationships and the nature of the individuals involved, Schwab noted. 

Schwab frames the choice as one that turns on circumstances rather than a universal rule, which puts the weight on the lender to reassess what the specific borrower is likely to honor before any money changes hands.

Rossman offered a guardrail for anyone leaning toward yes: Don’t lend more than you can afford to lose. Rossman’s standard treats every family transfer as a gift rather than a debt, an approach Bankrate says reduces the risk to both the relationship and the lender’s finances.

Ramsey lands at the same conclusion, holding that the only safe family transfer is the one the lender is already prepared to see leave entirely. Everything short of that, in his view, should not happen at all.

Related: Dave Ramsey raises a $185K risk Fidelity pegs for retirees

Those who locked in mortgage rates a few years back have done the math: selling means financing at today’s rates, and that can add hundreds of dollars a month to housing costs. Most have decided it is not worth it.

The house they are in is the one they intend to keep.

Home Depot (HD) CFO Richard McPhail put a name to it on the company’s most recent earnings call. Housing turnover has “never been lower as a percentage of the housing stock,” McPhail said. He called it “frozen housing market conditions.”

The 30-year fixed rate stood at 7.24% the week of Oct. 29, per Freddie Mac. For anyone sitting on a 3% mortgage from 2020, that number explains the freeze entirely.

Also read: Something shifted in the housing market, and sellers felt it first

For retirees who have made peace with staying put, the natural next step is to fix things. A kitchen. A bathroom. Work that makes the house feel worth staying in.

What most of them do not think through is what a large 401(k) withdrawal to cover that renovation does to Medicare premiums two years down the road.

What the housing freeze means for how retirees spend on their homes

When home sales slow to a crawl, the spending that normally follows a purchase dries up with them. New owners buy appliances, flooring, light fixtures, and paint. That category of demand is weak right now, and Home Depot has been saying so for several quarters.

McPhail’s latest description was the company’s sharpest framing yet.

Long-term homeowners are filling some of that gap with renovation projects. Comparable sales still grew in Home Depot’s most recent quarter. People who have decided to stay are spending to make staying worth it.

For retirees in that position, a $50,000 kitchen overhaul or a bathroom renovation is a reasonable way to invest in a house they plan to be in for a long time. How they fund it is a decision most have not fully thought through, and the Medicare angle is almost always the piece that catches them off guard.

The Medicare surcharge that follows a large 401(k) withdrawal

Medicare does not calculate premiums off current-year income. It looks back two years. A large 401(k) distribution taken in 2026 affects what a retiree pays for Medicare in 2028, well after the renovation is finished and largely forgotten.

Medicare calls it IRMAA, the income-related monthly adjustment amount. The charge kicks in when modified adjusted gross income passes certain thresholds.

For a single filer in 2026, the first one lands at $109,000. Standard Part B costs $202.90 a month. Clear that number and Part B goes to $284.10, with another $14.50 a month on Part D.

A retiree bringing in $80,000 a year takes $50,000 from a pretax 401(k) to redo her kitchen. Modified adjusted gross income for the year hits $130,000, which is $21,000 past the IRMAA threshold. Add up the Part B and Part D surcharges across the year and she has paid $1,148 in added Medicare premiums because of a home project from two years earlier.

The same $50,000 renovation funded with two $25,000 withdrawals a year apart keeps her income at $105,000 in each of those years. Under the threshold. No surcharge. Same kitchen, different bill.

Ways to fund a renovation without triggering a higher Medicare bill

Money pulled from a savings account is not taxable income and does not register in modified adjusted gross income. No IRMAA exposure.

Roth IRA funds behave the same way for retirees past 59 and a half who have held the account at least five years. Those withdrawals clear the account tax-free with no income impact.

The drawback is that Roth money is usually the most tax-efficient asset in a retirement portfolio. Many retirees who spend it on renovations find five years later they wish they had left it alone.

More Mortgage Rates and Housing Market:

• Here’s the monthly payment on a $1 million house at today’s rates
• Fannie Mae updates its mortgage rate predictions for 2027
• Jeff Bezos has a blunt answer for why housing is so expensive

Borrowed money is not income. Home equity loans and lines of credit do not raise modified adjusted gross income. At 7.24% on the 30-year fixed, a $50,000 home equity loan generates roughly $3,600 in annual interest. Real money, though for many retirees still cheaper than two years of IRMAA surcharges.

Keeping savings and Roth funds intact is possible if the renovation timeline can flex. Splitting 401(k) distributions across two tax years, with Dec. 31 as the dividing line, holds modified adjusted gross income under $109,000 in both. The only real variable is scheduling the work around that cutoff.

What to check before you request the distribution

Before any distribution request goes in, pull last year’s Form 1040. Add line 11 and line 2a, then factor in the planned withdrawal. If that total clears $109,000 as a single filer, Medicare is adding a surcharge two years from now. Most retirees never run this number before calling their plan administrator.

Not all 401(k) plans allow partial distributions. Some older designs restrict how withdrawals can be structured. If the plan does not allow them, the staged approach is off the table regardless of how the renovation is scheduled.

Form SSA-44 is Medicare’s surcharge appeal form. It covers genuine life disruptions: job loss, divorce, the death of a spouse.

A decision to renovate a kitchen does not meet the standard, and the SSA will say so quickly. The IRMAA that follows a voluntary 401(k) withdrawal sticks for the two years it covers. There is no mechanism to dispute it once the distribution has gone through.

Related: Goldman Sachs has a new warning for the housing market for 2027

He wrote that he had shorted it at $1,060.98, citing a trailing P/E of 53.03 and a forward P/E of 44.05, which he thought was too rich for a cyclical industrial company. 

As a trader, I’ve learned not to confuse a stock’s strong run with a business that’s still attractively priced. Even a company delivering impressive results can become vulnerable when investors expect too much.

Burry’s valuation worry looks different now. After the third-quarter report on Oct. 29, 2026, shares fell 9.25% in a day and are 40% below the $1,073 peak, according to Yahoo Finance. 

Yet the quarter looked strong.  Caterpillar‘s Q3 earnings presentation shows that Sales rose 17% to $20.7 billion, adjusted profit per share jumped 45% to $7.20, and backlog hit a record $78 billion. Power and Energy sales rose 18% to $8.8 billion, due to data center and AI demand.

Our third-quarter results reflect the durability of our end markets, with strong order rates and a record backlog.

However, investors wanted more than a good quarter.

Also Read: Morgan Stanley calls United Rentals sell-off a buying chance

Caterpillar’s AI rally hands off to the cycle

In a note shared with me at TheStreet, Morgan Stanley kept an Equal-weight rating but cut its price target to $675 from $915, about 4% above the $647.39 close on Oct. 29. 

Morgan Stanley said the two risks it flagged, the durability of the data center power cycle and construction de-stocking, have “reared their ugly heads.”

Three things hurt. Bookings fell about 11% from the prior quarter to $25.6 billion, short of the more than $29 billion big investors expected, feeding fears that orders have peaked. The fourth-quarter outlook came in modestly below expectations, partly on manufacturing and inflation costs, including $600 million in tariff costs. 

More Morgan Stanley Coverage:

• Bank of America reveals hidden moat that makes Morgan Stanley a buy
• Morgan Stanley stands by SanDisk as CFO flags a low-end pullback 
• Morgan Stanley revisits Micron stock price target amid stellar growth

And Caterpillar now expects dealers to cut inventory by about $1.6 billion in the fourth quarter, up from $1 billion. De-stocking means dealers selling machines off their lots instead of ordering new ones.

Shares are still up 9.84% this year, 10.28% over one year, and 169.57% over three years, according to Yahoo Finance. Morgan Stanley’s point is that expectations ran above Caterpillar’s own long-term outlook, so the stock needed more beat-and-raise quarters, not a hint of lower estimates.

What’s driving Caterpillar’s mixed picture

Outside data fits the split. I looked at a survey by Associated Builders and Contractors conducted Sept. 21 to Oct. 5, 2026, and found its construction backlog indicator rose to 8.7 months, the highest since July 2025, driven by data center projects. 

Caterpillar’s numbers show the same two-speed story. Construction sales rose 18% to $8.0 billion on solid North American demand, and Resource Industries sales grew 15% to $4.6 billion despite minor commissioning delays.

Related: Caterpillar tariffs send major signal on margins

A construction boom can look very different depending on where the money is going. A busy site doesn’t necessarily mean the whole industry is thriving. Caterpillar’s results show that distinction, with data center demand supporting growth while other areas face a tougher environment.

Morgan Stanley says backlog may be peaking, but remains robust, and it knows of no material cancellations. Earnings can keep growing even if inflated estimates come down. The company also keeps building. 

Caterpillar committed $1 billion to a North Carolina investment and expanded engine capacity, while generating $4.4 billion in operating cash flow and returning $2 billion to shareholders in the quarter.

Morgan Stanley sees a range, not a collapse

The bank now values Caterpillar on a cyclical basis, at 21.5x 2027 earnings, near the top of its historical 11 to 22x range. It expects shares to stay between $550 and $800 for the medium term, slowly de-rating as earnings grow.

It cut 2026 EPS to $27.24 from $28.38 and 2027 EPS to $31.49 from $33.22. Fourth-quarter EPS falls to $6.39 from $7.59.

It stopped short of Underweight for three reasons. Shares are already 40% below their peak, backlog is robust, and strong free cash flow can fund buybacks that support the stock.

The bull case stays at $915 if growth and 30% incremental margins hold. The bear case is $450 if a U.S. slowdown and weak dealer restocking pressure margins.

As I wrote in July, Burry’s concern was valuation. Now, orders, dealer inventories, and data center power demand will help determine whether Caterpillar’s stock can hold its current range.

More Stocks News

• Ford and GM see savings drivers may pay for later
• Mark Cuban says get your cash ready for this change — ‘That’s when the real money is made’
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• Apple’s AI problem could reach your next iPhone

Why we love this deal

The right accessories can make the outfit, but thankfully, you don’t always have to spend hundreds to achieve the polished look you want. Versatile and affordable jewelry makes it easy to add finishing touches, and a classic hoop earring with eye-catching crystals is a great option for going to work, going out for the evening, or running to the store, making it a simple option that you’ll reach for again and again.

The Cate and Chloe Bianca Gold-Plated Swarovski Earrings are on sale for 37% off, offering dozens of stunning Swarovski crystals that adorn the front side of the hoop for just $17. These sleek hoops are perfect for any occasion and offer a high-end look for a super low price. 

Cate and Chloe Bianca Gold-Plated Swarovski Earrings, $17 (was $27) at Walmart

Why do shoppers love it?

These refined earrings add a touch of sparkle to any outfit without overwhelming it. It’s adorned with 34 Swarovski crystals, each measuring 1.6 millimeters, embedded into 25 millimeter hoops. The versatility these earrings offer makes them a useful everyday pair that you can take on trips without using up tons of storage space for jewelry, while relying on just a few staple pieces, and also allows you to save money on multiple pieces that can only be worn during specific occasions. They are designed with long-lasting comfort in mind, offering a hypoallergenic, lead-free, and nickel-free option for people with sensitivities, with some reviewers saying they have worn them for weeks without an allergic reaction. 

Related: Walmart’s bestselling Swarovski birthstone earrings are now 45% off

The lightweight design features a secure latch-back closure that keeps the earrings in place while also remaining comfortable during long wear, making them easy and practical to wear for longer occasions like bridal showers, birthdays, or holidays without irritation. These earrings come wrapped in a jewelry box that keeps them shiny and dust-free when not in use, and doubles as a gift box if you’re gifting them to a loved one. They are also backed by a 30-day warranty, offering confidence to every purchase. These earrings are available in rose gold, white gold, and yellow gold options, and come in 20 and 25-millimeter sizes. 

Details to know

• Size: These earrings feature 34 crystals on a 25-millimeter hoop, or shoppers can also choose the 20-millimeter hoop option.
• Colors: Choose from white gold, yellow gold, or rose gold. 
• Material: These hypoallergenic earrings feature lead and nickel-free material that’s lightweight and stays comfortable during long wear. 

One reviewer couldn’t say enough good things, saying, “They have continued to impress with their elegant sparkle, lightweight comfort, and lasting quality. The rose gold plating holds up beautifully without tarnishing, and the crystals—whether simulated diamonds or Swarovski accents — add just the right touch of shimmer for both everyday wear and special occasions. They’re comfortable for sensitive ears, secure with lever-back or stud closures, and versatile enough to pair with casual outfits or dressier looks. Stylish, affordable, and thoughtfully designed, these earrings are a staple in my jewelry rotation.”

Shop more deals

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• Cate and Chloe Giselle Swarovski Hoop Earrings, $20 (was $29) at Walmart

Whether you’re heading out for a casual lunch in a sweater and jeans or attending a family wedding, the Cate and Chloe Bianca Gold-Plated Swarovski Earrings offer elegance, style, and shine for any occasion for just $17. With over 24,000 5-star ratings, these are sure to be a daily staple.

The closures come as several other seafood restaurant chains, including Red Lobster, Bonefish Grill, Long John Silver’s, and Joe’s Crab Shack, navigate their own business challenges.

The move follows a similar decision involving another Artistry-owned restaurant brand, highlighting the company’s effort to concentrate resources on locations and concepts it believes have stronger long-term potential.

Founded in 1993 in Gulf Shores, Alabama, Shrimp Basket is a fast-casual seafood restaurant chain with locations across Florida, Alabama, and Mississippi. The chain was acquired by Artistry in 2020, which owns several restaurant concepts, including Hickory Tavern, The Chapman, Boca, Oak & Stone, Atlantic Beer and Oyster, Sandbar Amelia Island, and Shrimp Basket.

Shrimp Basket closes six restaurants

Shrimp Basket has closed six restaurants as of Nov. 1, across Alabama and Florida. The affected locations include:

• Bay Minette, Alabama: 1111 US-31
• Cullman, Alabama: 716 2nd Ave NW
• Gardendale, Alabama: 550 Fieldstown Rd #100
• Tuscaloosa, Alabama: 3429 McFarland Blvd E #2421
• Auburn, Alabama: 1651 S. College St
• Pensacola, Florida: 709 N. Navy Blvd

The closures leave Shrimp Basket with 12 restaurants, concentrated in beach and coastal markets, according to the chain’s store locator. Artistry believes these coastal markets are better positioned to support Shrimp Basket’s long-term success.

For customers in the affected communities, the shutdowns mean fewer nearby dining options at the seafood chain.

“While never an easy decision, it is our responsibility to the team and our guests to ensure the continued strength of the Shrimp Basket brand,” said Artistry CEO Bryan Lockwood, Nation’s Restaurant News reported.

“Upon re-evaluation and reflection, we decided that our strength comes from our origins as a true coastal seafood restaurant and that returning to our roots as a brand, while directing our resources and future investments towards our beach and coastal locations, will best serve our teams and guests,” he said.

Why Shrimp Basket is closing locations

Artistry’s decision reflects a shift toward coastal markets, which Lockwood identified as central to Shrimp Basket’s long-term strategy.

The company also cited market-specific considerations behind the closures. In the Pensacola area, the proximity of existing Shrimp Basket restaurants influenced the decision, FSR Magazine reported. In Alabama, the shutdowns primarily affected inland locations across the northern and central portions of the state.

Since acquiring Shrimp Basket in 2020, Artistry has introduced several initiatives to strengthen the chain’s appeal to consumers. These include its Gulf to Guest program, value-oriented family meals, menu updates, and expanded marketing and social media efforts.

The strategy allows the company to concentrate investments on coastal locations it believes can better support Shrimp Basket’s long-term growth and customer experience.

Artistry has closed several restaurants across its brands

Shrimp Basket is not the only Artistry-owned restaurant concept to reduce its locations.

The company previously closed four Hickory Tavern restaurants across North Carolina and South Carolina, bringing the chain’s footprint down to 16 locations. Those shutdowns were also part of an effort to focus resources on restaurants with stronger long-term prospects.

Following the acquisition of Hickory Tavern in 2025, Artistry introduced menu updates, restaurant redesigns, new operating standards, and supplier partnerships to strengthen the brand.

However, the company is also pursuing expansion opportunities elsewhere in its portfolio. Earlier in 2026, Artistry revealed plans to grow its Oak & Stone brand by opening two locations in Texas.

Together, these moves reflect Artistry’s efforts to reshape its restaurant portfolio by closing locations it considers less viable while investing in concepts and markets it believes have greater potential for long-term growth.

Here’s some of my previous coverage of restaurant closures:

• Bonefish Grill: Permanently closed its Brick Township, New Jersey, location in October 2026 after approximately 20 years, following several closures by its parent company, Bloomin’ Brands, across its other brands.
• Red Lobster: Closed at least 20 restaurants in 2026 following mass closures across its fleet as the company works to turn around its business post-bankruptcy.

Related: Bonefish Grill closes another restaurant as parent company cuts locations

At the time, the chain had very little cash on hand.

“Total liquidity as of Feb. 3, 2024, is expected to be approximately $45 million (including approximately $13 million of cash and cash equivalents and approximately $32 million of excess availability under the company’s credit facility after excluding all necessary reserves and excess availability requirements),” the company shared in its fourth-quarter earnings release.

Now, the company faces a new set of struggles, and Bloomberg reported that the chain is considering a Chapter 11 bankruptcy, a sale, or even a liquidation.

Children’s Place showed signs of struggle

Children’s Place’s second-quarter numbers were not strong.

• Net sales decreased $56.2 million, or 18.9%, to $241.8 million in the three months ended Aug. 1, 2026, compared to $298 million in the three months ended Aug. 2, 2025.
• The decrease in net sales was driven by a decrease in direct-to-consumer (DTC) sales of 15.0% due to lower traffic compared to the prior year.
• Comparable retail sales in its owned and operated DTC business decreased 16.7% for the quarter.

The company also lost money.

“Net loss was $(31.0) million, or $(1.39) per diluted share, in the three months ended August 1, 2026, compared to $(5.4) million, or $(0.24) per diluted share, in the three months ended August 2, 2025,” according to its Q2 earnings press release.

As of Aug. 1, 2026, the Company had $7.2 million in cash and cash equivalents, $47.5 million in borrowing availability under its revolving credit facility, and an additional $25 million of availability under the unsecured Commitment Letter provided by Mithaq, representing total liquidity of $79.7 million.

Despite this bleak position, interim CEO Muhammad Asif Seemab tried to paint a mostly positive picture.

More Bankruptcy:

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“During the quarter, we continued to contend with stabilizing our customer file, driving traffic to our stores and websites, and lower conversion, combined with a very clearance-heavy mix,” he said.

“Despite the near-term headwinds, we continue to invest in the long-term strength of the business, focused on our strategic priorities: improving our customer experience, strengthening and elevating the brand, delivering on financial targets, and enhancing organizational leadership,” Seemab added.

Children’s Place is considering all options

Children’s Place did not mention a potential bankruptcy, closure, sale, or liquidation in its earnings release. All of those options, however, appear to be on the table.

“The Children’s Place Inc. is preparing to file for bankruptcy and pursue a sale that could either keep the business operating or result in its liquidation, according to people familiar with the situation. Existing shareholders are expected to be wiped out as part of the restructuring, they added,” Bloomberg reported.

No decision has been made.

“The company is weighing bids from an investor consortium as well as liquidators, said the people, who asked not to be identified, discussing a private matter. The talks, which are ongoing, revolve around the valuation of the bids and may not materialize in a sale,” they told the news organization.

Berkeley Research Group has been hired to advise The Children’s Place on its options.

RTM Nexus CEO Dominick Miserandino thinks the chain faces challenges it may not be able to overcome. “Kids keep growing, so parents always need to buy more clothes,” he told TheStreet.

“Unfortunately for Children’s Place, those parents have plenty of other places to shop. Walmart, Target, Old Navy, and Amazon all make it easy to buy the next size without a separate trip. Children’s Place has been a familiar name for generations of families, but familiarity only gets you so far. At some point, parents have to walk into the store or click the buy button.”

Retail analyst Maurie Backman thinks that the chain has lost its trendiness to some customers.

“A big problem for Children’s Place is that it loses its appeal early. Today’s 9-year-olds don’t want shirts with hearts and smiley faces and ‘girl power’ slogans. It’s a fine store for very young children, but at a certain point, it becomes, as kids today would say, ‘cringe.’ That’s not the sole reason for the company’s fiscal troubles, but it’s a factor,” she shared in a message to TheStreet.

Related: Coca-Cola gives Walmart an LTO soda exclusive

Now UBS thinks that drop is a good chance to buy. On November 2, UBS analyst Joseph Spak upgraded his rating on RIVN from a Neutral to a Buy. He also maintained his $17 price target, CNBC reported. 

Spak cited real demand for Rivian’s cheaper R2 vehicle as the reason for the upgrade. He also believes the company’s profit margins are close to turning positive. Based on UBS’s belief, Rivian’s biggest challenge now is scaling up production fast enough.

What UBS saw that other investors missed

Rivian builds and sells electric trucks and SUVs. It also sells the software features that are inside those vehicles.

The company’s latest mainstream product is the R2 SUV, which the company intended to use to break into the mainstream car market. So far, it has been successful, and the R2 is already the best-selling Rivian vehicle by volume.

That is why Spak sees the recent sell-off as “a buying opportunity ahead of the R2 ramp.”

Also read: Michael Burry’s latest bet raises uncomfortable questions for Tesla

In Spak’s view, the sell-off is mostly because investors are worried about the broader EV market, while the demand for Rivian’s own vehicles has still held up.

Rivian even said it hosted more than 103,000 demo drives in the third quarter, which surpassed its second-quarter record, Yahoo Finance reported. That suggests many people are interested in Rivian vehicles.

Why the cheaper R2 model changes the picture

Right now, Rivian’s R1T truck and R1S SUV start around $75,000. That price range is usually the territory of luxury cars, which means you won’t find those vehicles in most households.

However, the midsize R2 SUV starts near $45,000. That is about the price range many families already pay for a gas-powered SUV.

The company’s addition of a cheaper EV model lets Rivian compete with popular electric SUVs like the Tesla Model Y and the Ford Mustang Mach-E.

But the company needs to be able to keep up with production.

UBS believes it will and projects Rivian will deliver about 82,000 R2 units in 2027 from its factory in Normal, Illinois, Investing.com reported. At full capacity, the factory can build up to 155,000 R2 vehicles a year.

The software angle Wall Street is starting to notice

Rivian is also planning for a general release of its point-to-point update on its Autonomy+ service in 2027. The point-to-point service lets a Rivian vehicle drive itself between two points that the owner sets.

Scaringe said during the Q3 2026 report that, “We are super excited about Point to Point. We are laying the foundations for a future that we believe will be fully electric, autonomous and AI defined.” 

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According to Rivian, the Autonomy+ service costs $49.99 a month, or $2,500 for a one-time purchase. If drivers choose to pay for the service every month, it creates a steady source of income for Rivian. 

What to watch before buying Rivian stock

Rivian is building a new factory in Georgia, and because of that, UBS projects the company will have negative free cash flow of about $3.7 billion in 2027.

However, the firm also notes that Rivian has about $13 billion in available and planned capital, which should carry the company until 2029 without having to raise more money, Investing.com reported.

Investors should pay attention to the Autonomy Day event on December 9, 2026, Rivian’s year-end 2026 margin update, and plans for the R2 production ramp in 2027. If any of those develop issues, the stock could give back its recent gains.

More Stocks News

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• Apple’s AI problem could reach your next iPhone

Apple (AAPL) is warning that the cost of memory chips is rising sharply as AI data centers compete for increasingly valuable semiconductor capacity. These processors are crucial parts of MacBooks, iPhones, and other consumer gadgets.

This is an issue for both regular consumers and investors. Apple is able to endure reduced profit margins and absorb a portion of those increased expenses. Ultimately, however, it will ask consumers to cover more of them.

While it has not implemented a significant wave of price hikes, Apple has increased the prices of several items this year. According to Reuters, these increases have helped offset rising component costs.

It seems that Nvidia chips and trillion-dollar data centers are no longer the main factors in the fight for AI infrastructure.

Eventually, it may alter the prices that customers pay at the Apple Store.

Apple says memory costs are climbing fast

Apple’s most recent financial results demonstrated how rapidly the economy is evolving.

With iPhone sales breaking a September-quarter record, the business posted fiscal fourth-quarter revenue of $114.5 billion, up 12% from the same period last year. The gross margin was 47.9%.

Apple now anticipates that during the Christmas quarter, that percentage will drop to between 45% and 46%.

One of the main causes is rising memory chip prices.

According to Reuters, as the business worked to acquire components, Apple’s obligations for manufacturing and supplier purchases rose by $33 billion to $89.7 billion. Ternus said that while Apple had secured supply, he anticipated memory costs rising into the next year.

This is important because DRAM is needed to operate programs on modern computers and smartphones, whereas NAND memory is needed to store data, images, and apps.

As businesses compete to increase computational power, AI data centers are using massive amounts of sophisticated memory.

The pressure has become strong enough to reach companies such as Apple that are not spending anywhere near as aggressively on data centers as some of their Big Tech rivals.

The AI boom could eventually reach Apple shoppers

The memory pressure is particularly intriguing because of Apple’s customer exposure.

The iPhone 18 Pro already starts at $1,199 in the U.S., and the newly announced 14-inch MacBook Pro with the M6 chip starts at $1,999.

Neither pricing indicates that Apple will raise prices due to memory inflation. However, they demonstrate the significance of even very small price rises.

For a $1,199 phone, a 5% increase would cost about $60. On a $1,999 MacBook Pro, the same increase would cost approximately $100.

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Apple may try to avoid passing the full price increase to customers by redesigning parts, negotiating with suppliers, cutting other costs, and accepting smaller margins.

Additionally, because of its size, it has buying power that smaller tech companies would not have.

However, the cost is already apparent to investors. Apple shares fell after the company forecast weaker holiday-quarter margins, with Reuters reporting that higher memory costs threatened to erase more than $170 billion in market value at one point.

Apple investors now have a new AI number to watch

The irony is that Apple has remained relatively insulated from one of Wall Street’s biggest AI concerns.

Data centers have been receiving massive investments from Microsoft, Alphabet, Amazon, and Meta.

Apple spent about $9 billion on capital expenditures over the past year while generating roughly $145 billion in operating cash flow.

However, the same boom is still impacting the company.

AI businesses need not directly compete with Apple to impact its bottom line. They simply need to fight for the same chips, production capacity, and supply chain.

Because of this, gross margin is becoming a more significant indicator of the indirect cost of AI for Apple stockholders.

For customers, the number to watch is simpler: device prices.

Apple may be able to withstand much of the pressure if memory costs stabilize, but it will ultimately have to decide between preserving profits and shielding customers from rising costs.

Apple’s most recent warning is unique because of this.

Even if an iPhone customer never uses ChatGPT, owns Nvidia stock, or cares how many AI data centers Silicon Valley builds, the AI boom could still end up on their receipt.

Related: Apple’s iPhone faces a $190 memory problem

The strategy is common in the fast-food world, where McDonald’s uses seasonal favorites such as the Shamrock Shake, which comes back around the same time each year, and unexpected limited-time offers (LTOs) like the McRib, which appear on a variable schedule.

Starbucks might be the most famous brand leaning heavily on LTOs. It famously brings back its fall-season Pumpkin Spice Latte (PSL) in August each year, with every season bringing a mix of returning favorites and new seasonal offerings.

It’s a strategy that works on me, as I’ll soon be heading to the coffee chain for a Caramel Brûlée Latte, before settling into a regular order of the chain’s lower-calorie Sugar Cookie Latte.

I won’t, however, be running to Walmart for its latest Coca-Cola exclusive.

That’s not a knock on the chain. I’m just not a fan of Sprite or Watermelon, so although I’m sure millions of people will disagree, a soda that combines those flavors doesn’t appeal to me.

Walmart adding Sprite Chill Watermelon

Coca-Cola and Walmart have regularly worked together each year to deliver fans an exclusive Sprite flavor. That will continue in 2027.

“Sprite Chill Watermelon is coming in 2027 and might be the best flavor combo yet! Just like the last two years, Walmart is getting an exclusive Sprite Chill flavor, and this year it’s Watermelon,” the Snackolator Instagram page reported.

The social media page shared that the new flavor will be available in 12-packs and 20-ounce bottles in both Zero Sugar and full-sugar versions.

“Expect this flavor in the spring, sometime around March,” Snackolator added.

The release follows Sprite Chill Mango Citrus, which was a Walmart exclusive LTO in March 2026. The Sprite Chill line previously included Walmart-exclusive flavors such as Strawberry Kiwi and Cherry-Lime.

Trend Hunter also reported that Walmart would be adding the new Sprite flavor in March.

LTOs drive customer traffic

Sprite has consistently been Coca-Cola’s second-best-selling soda after its namesake brand. Adding a new flavor is a way to activate the drink’s fanbase and drive traffic to its retail partners.

“For consumers, LTOs encourage repeat visits and inspire them to spread the word,” according to Datassential’s “The ingredients for a winning limited-time offer.”

An LTO can also help a retailer stand out in a sea of chains offering similar merchandise.

“Retailers are looking for differentiation, especially with supply chain restraints still impacting shelf space,” Soom (a tahini brand) founder Amy Zitelman told Modern Retailer, adding that temporary exclusivity terms have been increasingly mentioned in buyer conversations when discussing distribution terms.

Sprite Chill is meant to be a brand extension offering the brand’s well-known flavor “accentuated by a proprietary blend of cooling agents to deliver a uniquely elevated sensory experience,” the company shared in a press release.

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The Chill elements stay the same, while the fruit flavor added to the classic Sprite lemon and lime changes.

“With Sprite Chill, we’re doubling down on these signature intrinsics while continuing our legacy of strategic flavor innovation and quenching fans’ thirst for variety and the exclusive badge value associated with trying and sharing limited-time-only beverages and experiences,” Sprite Brand Director Kate Schaufelberger said.

Coca-Cola rival explains why LTOs work

Bryan Santee, chief commercial officer at PepsiCo Beverages North America, told NACS Magazine why LTO beverages work for retailers.

“At least half of c-store operators consider LTOs to be a central part of their offerings and are a good way to allow customers to try new drinks while adding value,” he said. “People are very loyal to our PepsiCo brands, which means LTOs can leverage our equity to help partners boost sales while also delivering something new and exciting for our fans.”

Claire Conaghan, associate director and trendologist at Datassential, told NACS Magazine that LTOs offer consumers an affordable indulgence during challenging economic times.

“An LTO beverage can be a splurge. They’re fun and appeal to younger consumers. These consumers love to try new things,” she said.

Related: Starbucks and Walmart share their holiday coffee collectibles

Yet earning a six-figure salary remains uncommon in the profession. According to the Bureau of Labor Statistics, the median annual wage for food service managers was $69,390 in May 2025, while the highest-paid 10% earned more than $107,640.

Employee retention is another challenge. The accommodation and food services industry recorded a 3.5% quits rate in August 2026, compared with 2.1% across the private sector, according to BLS data.

As businesses increasingly seek to improve performance and retain experienced employees, some major companies are offering managers higher compensation tied to the results they deliver.

Sweetgreen is taking that approach a step further.

The fast-casual salad chain has unveiled a new incentive program that could allow its highest-performing restaurant managers to earn more than $200,000 annually.

Sweetgreen introduces new $200,000 compensation plan

In a recent announcement, Sweetgreen introduced its Head Coach Incentive Plan, which takes effect in the first quarter of fiscal 2027.

The program rewards restaurant general managers, known internally as Head Coaches, based on their experience, restaurant sales and overall performance. The compensation package combines higher base salaries at larger restaurants, revenue-sharing bonuses for exceeding sales targets, and performance-based company equity.

Read more: Sweetgreen taps Shake Shack chef as cheaper meals reshape sales

“Great leaders build great teams, and great teams build a great business. As we approach 300 restaurants, we’re betting big on our Head Coaches,” said Jonathan Neman, co-founder and CEO of Sweetgreen.

Under the new plan, eligible managers at higher-volume restaurants could see their base salaries increase by up to 45%, according to a Nov. 2 HR Brew interview with Neman.

The salary increases will take effect in the first quarter of 2027, while performance-based bonuses will begin accruing Jan. 1 and be paid quarterly. However, not every manager will qualify for the highest compensation.

Sweetgreen Chief Operating Officer Jason Cochran told Restaurant Dive that approximately 10% to 12% of Head Coaches meet the criteria, which include at least three years of tenure and overseeing a high-volume restaurant.

Managers who maximize the program’s benefits could see their total compensation increase by up to 50%, the company told the publication.

The company is also expanding its Head Coach Restaurateur Program, which provides additional training, mentorship and higher base salaries to selected managers. Participants can receive a $10,000 bonus for every employee they develop into a Head Coach, with no cap on the number of bonuses.

Sweetgreen is introducing regional training managers to strengthen training and operational consistency, as well, Cochran told Restaurant Dive.

In-N-Out, Starbucks, Cava reward employee performance

Sweetgreen is not alone in tying employee compensation to business performance.

In June, rival fast-casual chain Cava announced that all general managers would be eligible for long-term equity incentives, along with additional rewards tied to recruiting and developing future managers.

Darden Restaurants, the parent company of Olive Garden and LongHorn Steakhouse, also offers quarterly bonuses tied to financial goals and long-term incentives for general managers based on performance, according to its 2025 Impact Report.

Neman told HR Brew that Sweetgreen’s new plan was inspired partly by In-N-Out Burger and Raising Cane’s, two chains known for offering substantial compensation to restaurant managers.

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In-N-Out has said its store managers can earn more than $200,000 annually on average, while Raising Cane’s previously reported manager compensation reaching $175,000, with monthly bonuses linked to sales performance.

Starbucks introduced a similar performance-driven approach for hourly employees in April, offering eligible baristas and shift supervisors up to $1,200 annually in bonuses based on store sales, operations and customer-service targets, according to its official announcement.

Research suggests such incentives can improve business results, although outcomes depend on how programs are structured.

A 2026 study published in Management Accounting Research found that performance-linked pay increased profits by approximately 8% in an experiment involving supermarket managers in Germany, outperforming unconditional cash payments.

Sweetgreen tests higher pay amid declining sales

The compensation changes come as Sweetgreen works to reverse declining sales and bring more customers into its restaurants.

During the second quarter of 2026, Sweetgreen reported a 6.2% decline in same-store sales, including a 2% drop in customer traffic, according to its earnings release. Restaurant-level profit margins also declined from 18.9% to 13.1%, increasing pressure on the company to improve its operations.

Sweetgreen has since been working to improve menu value, service speed and operational efficiency.

The company believes investing in experienced managers could help address those challenges.

Neman told The Wall Street Journal that early tests of the higher-compensation approach had helped generate additional sales, although Sweetgreen did not disclose the size of those gains.

He also acknowledged to HR Brew that the increased compensation represents an upfront investment, but argued that retaining and incentivizing stronger managers could lead to higher sales and better restaurant margins.

The company plans to evaluate the program using several measures, including employee turnover, manager retention, food quality, customer experience and internal promotions.

For the restaurant chain, retaining experienced managers is particularly important because it allows teams to develop the skills needed to improve service and restaurant performance.

More Restaurant News

• Shrimp Basket closes multiple restaurants across two states
• Popeyes is cutting one menu staple while reviving a side it dropped a decade ago
• An entire island just lost its KFC and Taco Bell overnight
• 40-year-old fast-food franchisee files for Chapter 11 bankruptcy

Why we love this deal

Finding alternate modes of transportation is becoming increasingly necessary as of late. With the cost of gasoline, cars, and just about everything else going up, it’s getting harder to find ways to save. While an e-bike can be useful for this, it’s not necessarily the most practical option when it comes to storage because of its large size. That’s why we were excited to find a folding e-scooter on sale at Walmart that will allow you to save money and space at the same time. 

The Vortexrider Foldable Electric Scooter costs just $120. That’s far less than many comparable models or e-bikes, and after a while, could save you money on public transportation. It’s even less than the cost of filling the gas tank for those with larger vehicles in some places. That’s reason enough to take advantage of this deal. Even with the $30 shipping fee, it’s a steal.

Vortexrider Foldable Electric Scooter, $120 at Walmart

Why do shoppers love it?

This scooter has so much upside, it’s hard to know where to begin. For starters, the folding design is one of the most obvious benefits of this model. When folded completely down, which can be done in less than 5 seconds, it fits comfortably in your trunk or even the back seat of a car. While it can’t fold completely flat, it’s still incredibly compact and easy to transport. It’s the ultimate modern mode of transportation that can get you to your destination quickly and be out of the way within just seconds. Speaking of how quickly it can get you there, we were shocked by its capacity for speed.

The e-scooter can reach speeds of up to 19 miles per hour (MPH) for sustained periods of time on a full charge. That’s faster than most people move through rush hour in their cars. Thanks to the high-capacity 36-volt rechargeable battery, you can enjoy a range of 16 miles before you’ll need to recharge. The scooter reaches full charge in just 3 to 4 hours, making it convenient to charge overnight or even while at work. 

Other useful features include warning tail lights and extra-bright headlights. These are welcome safety features that will ensure high visibility for you as the rider, not to mention pedestrians and others in your vicinity. The two 8.5-inch solid honeycomb tires offer the perfect amount of grip and durability to keep you rolling for years to come without interruption. While the black, gray, and red color combination is attractive, it might be nice if there were a few other colorways from which to choose. That said, the available variant is a great neutral option. 

Related: REI is selling a $3,199 electric bike for 50% off that offers a ‘5-star experience’

Pros and Cons

Pros:

• Foldable design: The scooter folds down for easy storage and transport when not in use. 
• Max speed: The e-scooter can reach speeds of up to 19 miles per hour on a full charge.
• Max range: You’ll have a range of up to 16 miles with this model.
• Charge time: It only takes three to four hours to reach maximum battery power.

Cons 

• Folded size: Although the scooter can fold down, it would be nice if it could be completely flat when not in use.
• Colorways: There is only one color variant available.

Walmart customers were thrilled with this peppy little scooter. One said that it’s “fast, easily charges, and priced for many household incomes. Looks great and drives smoothly…Gets to destinations quickly and efficiently.”

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If you want to get to your destination on time and under budget, then the Vortexrider Foldable Electric Scooter is the way to go. For just $120, you can arrive in style and stow your ride until you need it again.

“I basically believe that anything that would take Social Security payments below their present guaranteed level is a mistake,” he said at Berkshire Hathaway’s 2005 annual meeting.

That line is now in danger of being crossed. The Congressional Budget Office said on Sept. 17 that the retirement trust fund could run dry in 2032, and it put the resulting benefit cut at 26%, deeper than the 22% the program’s trustees projected.

That would shrink checks for millions of retirees who are counting on them the most.

Warren Buffett saw Social Security as a duty

For Buffett, the program was never just a line item in the budget. “A rich country takes care of its young and it takes care of its old,” he told shareholders in 2005, adding that a rich country “should be doing the same for the older people” as it does for children.

He compared support for retirees to the tax credits and incentives that help children, another group that cannot work because of age. In his view, people in their working years can afford to look after both, and doing so is part of a wealthy nation’s basic responsibility.

Also read: Suze Orman has a serious retirement warning for 2027

Buffett also offered ways to keep the promise. He suggested raising the retirement age and eliminating the income cap on payroll taxes, which sits at $184,500 this year. The former slows how fast benefits are paid out, while the latter brings more money into the system.

That cap keeps climbing on its own. The Social Security Administration said the maximum taxable earnings will rise to $192,300 in 2027, while benefits will get a 3.6% cost-of-living adjustment (COLA). The average retired worker’s check will rise by about $75 a month starting in January, according to the Social Security Administration.

Still, a higher cap is not the same as removing it, which is what Buffett suggested.

The 2032 deadline is getting closer

The trustees’ own numbers are troubling enough. Their 2026 report shows the retirement trust fund running out of reserves in late 2032, after which incoming payroll taxes would cover only about 78% of scheduled benefits.

Lower fertility and immigration assumptions, along with the One Big Beautiful Bill Act, which cut taxes on Social Security income and the revenue flowing to the fund, pushed the date closer.

That law has added to the strain. The One Big Beautiful Bill Act adds $168.6 billion in net costs to the trust funds through 2034, according to Social Security’s chief actuary, and Peter G. Peterson Foundation CEO Michael Peterson warned that “all Social Security recipients will face automatic, immediate benefit cuts of 22% in 2032,” as reported by TheStreet.

The CBO’s view is even darker. It keeps the same 2032 timeline but deepens the projected cut to 26%. And the trustees had previously expected benefits to be paid through 2033. Depletion would not stop checks entirely, since the ongoing payroll taxes would still fund a reduced amount.

For a typical retiree, that is real money. Based on the current average retired worker benefit of $2,088.79, a 26% cut would mean about $543 less every month.

For retirees who lean on Social Security for much of their income, that gap would be hard to absorb. It is exactly the kind of drop Buffett called a mistake, according to the Social Security Administration.

Washington is running out of time

Lawmakers have fixed this problem before. The last major overhaul came in 1983, and since then the share of covered wages subject to the payroll tax has slipped to about 83%, down from 90% back then, as reported by TheStreet.

That slide is the gap Buffett’s cap idea was meant to close. The options on the table today look a lot like his, including raising the payroll tax, adjusting the wage cap and lifting the retirement age, and every year Congress waits makes the fix harder.

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The math is not getting easier. There were 5.1 workers for every beneficiary in 1960, but only 2.7 in 2024. The American Academy of Actuaries says that closing the gap would take either an immediate payroll tax hike of 3.65 percentage points or an immediate benefit cut of 22.4%, Yahoo Finance reported. Neither option is easy to sell to voters.

Political gridlock makes a quick deal unlikely. With entitlement reform stuck, many Americans may need to take steps on their own to protect their retirement. That shifts more of the burden onto individual savers.

Buffett’s other lesson for savers

Building a personal cushion is the obvious place to start. A financial planner can help diversify income beyond Social Security, and saving more in 401(k)s, IRAs, or a Health Savings Account (HSA) can also help. Delaying retirement is another option worth considering for those who are able.

Warren Buffett has given advice on that front, too.

In his 2016 letter, he wrote that “my regular recommendation has been a low-cost S&P 500 index fund,” and in 2013 he said the cash he leaves his wife should go 90% into such a fund and 10% into short-term government bonds. He expected that approach to beat most investors who pay high-fee managers.

He also stressed keeping fees low, saying “costs really matter in investments.” The 90/10 split was meant for his estate, not as a formula for everyone. Investors should build an emergency fund first, and an S&P 500 fund holds no foreign companies, TheStreet reported.

Two decades later, Buffett’s warning about cuts and his advice on saving point the same way. Both rest on the idea that a secure retirement should not be left to chance.

Related: AARP cuts to the chase on 2027 Social Security COLA

Happy Wednesday. Stocks were rising as Democrats took control of both the U.S. House of Representatives and the Senate.

President Donald Trump congratulated Democrats on their midterm election victories in a phone call with CBS News.

“My message is, congratulations to the Democrats, and I look forward to working with you for the good of our country,” he said. “I think they’re gonna want to work with me. Otherwise, I’d just veto everything and they’re not gonna want that.”

Daniela Hathorn, senior market analyst at Capital.com, said global markets experienced a sharp selloff in equities and the dollar, while investors sought safety in U.S. Treasuries and precious metals.

“However, the initial risk-off reaction has given way to a relief rally, particularly across Asian equities, as investors reassess the implications of the result,” she said. “Part of the recovery also appears to reflect President Trump’s conciliatory comments following the results.”

Hathorn noted that technology stocks have been particularly sensitive to the outcome, with concerns that Democratic control of Congress could lead to greater scrutiny of AI investment, data center expansion and the broader technology sector.

“However, the recovery in Nasdaq futures suggests investors are beginning to recognize that a change in congressional control does not necessarily translate into an immediate change in economic policy,” she said.

Markets finished mixed on Tuesday as investors focused on Election Day voting and a rebound in semiconductor stocks.

Why we love this deal

The best furniture adds as much to your home’s aesthetics as it does to its comfort. Nowhere is this more evident than in your storage pieces. While a plastic or resin cabinet is great for the garage, it may not deliver the warm and inviting feel that you’re looking for in the kitchen or living room. As such, farmhouse-style pantries have become all the rage lately. They tend to offer an incredible amount of storage space while also bringing the cottagecore vibes to any environment. If you need proof, just look at the examples currently available at Walmart. One of them is available at a huge discount, and it’s one of the best-looking models we’ve seen at its price point. 

The Isunirm Tall Farmhouse Storage Cabinet has a beautiful look, plenty of storage space, and it’s on sale for just $99. A 48% discount on a piece of furniture of this quality might not last long, so it’s great motivation to add one to your cart sooner rather than later. 

Isunirm Tall Farmhouse Storage Cabinet, $190 (was $99) at Walmart

Why do shoppers love it?

You’re unlikely to find a cabinet this well-designed in terms of structure and aesthetics at such a low price point. Under $100 for a cabinet that looks like a built in and has five tiers is almost unheard of. It measures 22 inches long by 12.3 inches wide by 43.3 inches high. That makes it the perfect size for almost any room in the home, and the relatively narrow depth means it won’t take up much valuable floor space. The five-tiered design has three center shelves that are adjustable and removable. This makes for a versatile pantry that can store almost anything, large or small.

It’s constructed of high-durability engineered wood and stainless steel. The advantage of manufactured wood furniture is that it’s lighter and more cost-effective than solid wood. It also tends to be more water resistant, thanks to the sealed surfaces. The dual doors run the entire height of the cabinet. It also includes a convenient wall mounting kit, which lets you attach the cupboard to any nearby wall, thereby avoiding dangerous tipping. This is especially useful for those who pack their cabinets with heavier items.   

This is a piece of furniture that’s a real feast for the eyes. It has a walnut brown wood-grain finish throughout. Dark stainless steel decorative hinges adorn the outsides of the doors. Each also has a dark stainless handle that’s large enough to make the cabinet easy to open and close. Speaking of the doors, the lovely crosshatch farmhouse design will give your home a traditional feel without feeling dated. The cabinet looks refined and sophisticated while still maintaining classic cottagecore visual elements. It’s available in three colorways, though prices may fluctuate between the different variants. 

Related: Walmart’s $99 corner farmhouse pantry has 2 cabinets and 4 shelves

You may want to consider buying more than one of these cabinets while they’re still on sale. Whether you get a matching set or choose different colors for each room, you can never have too much storage space.

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• Homfa 4-Drawer Bathroom Storage, $60 (was $96) at Walmart

If you buy the Isunirm Tall Farmhouse Storage Cabinet while it’s still on sale for just $99, you’ll be thrilled with the value you get out of it. It’s a great option for anyone looking to expand their storage footprint while enhancing their home’s aesthetic. 

Why we love this deal

With so many lovely dresses, shirts, shorts, and pants acquired throughout the years, you need the right space to safely store them away when they aren’t being worn. Apparel is expensive, and the wrong piece of furniture can splinter and deteriorate, causing delicate fabrics to catch or snag, trap moisture, leading to mildew and mold, or even give off musty odors, causing odd smells to get trapped in your favorite fabrics. Long story short, quality can’t stop with the clothes, and a high-quality dresser is needed to keep your wardrobe looking pristine through the seasons. Thanks to Walmart, however, you can get the quality at a low cost with their revolving door of sales prices, and there’s one right now that you’ll be particularly interested in if you’re focused on adequate clothing storage. 

The RichYa Dresser, a $250 six-drawer piece of furniture, is now on sale for 44% off. With two different dresser top finishes to choose from you can get the sturdy set of drawers for only $140. Sleek, modern, and simple, it’s a great addition to any bedroom. 

RichYa Dresser, $140 (was $250) at Walmart

Why do shoppers love it?

The dresser is made from medium-density fiberboard (MDF), an engineered wood material made from recycled wood fibers and resin that’s compressed with heat and pressure. The finished result is a sleek, smooth surface that lacks the natural grain and knots of traditional wood while being more affordable and more stable. The two styles that this particular model comes in vary in what the tabletop section is made of. The all-white version is made of the same white MDF material that the rest of the dresser is constructed with, but the other features a light brown wood top that, although made of MDF, has a more striped, grainy appearance.

Measuring 47.2 inches long, 15.7 inches wide, and 31.5 inches high, the dresser provides a lot of storage space with the drawers and with the spacious flat top area that can hold decor, jewelry, light fixtures, and other bedroom elements. Each drawer measures 20.9 inches long, 12.4 inches wide, and 5 inches high, with more than enough room to neatly sort and store your jeans, sweatpants, shorts, shirts, undergarments, and other clothing items. In total, the entire dresser can hold 160 pounds.

The drawers use tracks to smoothly glide in and out with ease, only helped with the metal knob fastened to the center of each drawer. They also feature a structured, rectangular design that adds texture to the sleek wood and gives the dresser a classic chic look that seamlessly blends with all kinds of decor styles.  

Related: Amazon has a 6-shelf farmhouse storage cabinet for just $95

Assembly is needed, but instructions and any accessories are included with your purchase of the dresser. 

Details to know

• Dimensions: The dresser measures 47.2 inches long, 15.7 inches wide, and 31.5 inches high. Each drawer measures 20.9 inches long, 12.4 inches wide, and 5 inches high.
• Material: Medium-density fiberboard and metal. 
• Weight capacity: 160 pounds. 
• Colors: Two.

Not only is the dresser “very beautiful” and easy to assemble, but the drawers smoothly slide in and out, and they offer a ton of storage space. “The dresser is very good looking and feels sturdy overall,” one shopper said. Many of those who have previously purchased it love using it in children’s or baby rooms. It’s a high-end-looking piece at an affordable price point that makes keeping your clothing organized and out of sight easier than ever. 

Shop more deals 

• Concetta 9-Drawer Fabric Dresser, $56 (was $71) at Walmart
• Negylim 6-Drawer Dresser, $150 at Walmart

Sleek, smooth, and stylish, the RichYa Dresser is a great get at just $140.

Ray Dalio believes that investors need to be aware of this. The billionaire Bridgewater founder said on Oct. 21 that investors should watch the bond market and AI concentration.

Dalio said the important question is not simply whether artificial intelligence is in a bubble, but how much of the economy and stock market have become dependent on the same trade.

“There is a lot stuck on one thing for the economy and the markets,” Dalio wrote.

His answer is simple: Diversify more and focus less.

Because many retirement accounts already hold Nvidia (NVDA), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOGL), Broadcom (AVGO), and Meta Platforms (META) via index funds, this is significant to regular investors.

You could have hundreds of stocks. Yet Dalio cautions that they may not accurately reflect hundreds of distinct wagers.

Ray Dalio says AI concentration is the risk to watch

Dalio’s Oct. 21 message was unusually direct: “Pay attention to the concentration that is existing in one thing right now: AI.”

He did not make the case that AI businesses would fail. Instead, Dalio examined what happens when investors’ money, corporate spending, and economic growth are tied to the same outcome.

“Whether or not you think AI is in a bubble, you have to recognize the amount of concentration risk,” Dalio wrote.

Nvidia may continue to expand. AI has the potential to generate huge profits for Microsoft. Spending on data centers might result in years of extra earnings for Alphabet, Amazon, and Meta.

However, holding all of those businesses may not always provide the diversity an investor believes if they are all progressively motivated by the same AI expenditure cycle.

“Because all of that is risky, I want to have less concentration on one thing and more diversification right now,” Dalio wrote.

Your retirement fund may already depend heavily on AI

The numbers make Dalio’s warning easier to understand.

As of Oct. 29, Nvidia represented 7.77% of State Street’s SPYM S&P 500 fund.

Broadcom accounted for 2.47%, Meta for 2.07%, Microsoft for 5.91%, Amazon for 3.59%, and Alphabet’s two share classes for an additional 4.52%.

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These six AI-related businesses together accounted for almost 26% of the fund.

AI is not the exclusive focus. S&P Dow Jones Indices says the 10 largest S&P 500 constituents accounted for 37.3% of the entire index as of Sept. 30.

Still, without making a conscious choice to place large bets on Nvidia or AI, a worker who automatically contributes to an S&P 500 retirement fund may face greater concentration.

Dalio sees another risk building behind AI stocks

The concentration of the stock market is not the end of Dalio’s worries.

He said in an analysis published on Oct. 13 that massive government borrowing and rapidly expanding corporate finance requirements are beginning to vie for the same capital pool.

The rivalry is becoming fiercer due to AI. According to Dalio, the amount of AI hyperscaler bonds issued in the first half of 2026 was more than $220 billion, which is more than twice as much as the approximately $108 billion issued in all of 2025.

Dalio also said corporate bond issuance has risen sharply as companies finance AI capital spending, and excessive borrowing may ultimately raise financing costs.

In addition to increasing business borrowing costs and hurting technology values, higher rates may pressure other sectors of the economy.

Retirement investors therefore have two reasons to be mindful of their exposure.

The first is clear: Broad stock indices are increasingly influenced by a small number of AI companies.

The second is less obvious: Funding the AI boom may have an impact on interest rates and bond and stock prices well beyond Silicon Valley.

None of this implies that investors should give up on S&P 500 funds or Nvidia. Dalio’s argument simply highlights the importance of understanding the true risks present in a portfolio.

Related: Billionaire Ray Dalio sees dangerous risk inside US wealth tax

Why we love this deal

When you get home from work, you just want to kick off your shoes and throw down your keys and bag the second you get inside. This usually creates a huge pile of stuff in the entryway with nowhere else to go, which is why adding storage space specifically for shoes and accessories can help keep the entryway, mud room, or other high-traffic areas easier to manage while going about your busy day. 

The Hawsaiy Farmhouse Shoe Cabinet is a chic, affordable, and efficient way to help tidy up high-traffic areas that’s currently on sale for just $104 (down from $200) thanks to a Walmart Flash sale. While it’s made as a farmhouse-style shoe cabinet, it also works well for storing your purse, hats, scarves, shopping bags, and other accessories that you regularly grab while leaving the house.

Hawsaiy Farmhouse Shoe Cabinet, From $104 (was $200) at Walmart

Why do shoppers love it?

This cabinet features six tiers of storage with adjustable shelves that can be moved to accommodate different types of footwear. From sneakers and flats to heels and tall boots, the flexible shelf arrangement offers easy customization that fits your needs. It can fit approximately 18-24 pairs of shoes, offering ample storage while maintaining a slim and space-saving profile for narrow entryways.

The versatile construction and included anti-tipping kit also allow this cabinet to be used as a TV stand, coffee bar, or just a general storage solution, providing versatility for any home. The cabinet doors keep everything closed off and dust-free, while the open bottom shelf offers an easy-to-access space for small kids or shoes you use multiple times a week.

The cabinet is made from engineered wood and metal legs, and features stylish cross patterns and clean lines that fit into almost any aesthetic. It measures 45 inches tall, 13.8 inches deep, and 29.5 inches wide, with each shelf measuring between four and seven inches, including the adjustability. The doors feature magnetic strips to keep them closed when not in use, and the legs have adjustable height pads to help even out the cabinet on uneven flooring. The top shelf also features a back and side wall to prevent items from rolling or falling off, and gives it an expensive look. 

Details to know

• Size: It measures 45 inches tall, 13.8 inches deep, and 29.5 inches wide.
• Color: It comes in black and natural for $104.
• Shelving: With five adjustable shelves and one open shelf, this unit can hold up to 24 pairs of shoes.  

One reviewer said, “It is very cute and taller than I expected. It’s for our mudroom for everyone to stick their shoes in, and the shoes fit in nicely. I can close the doors and hide all that mess.”

“It’s a reasonably priced shoe rack, and has plenty of space for our shoes. It’s a nice-looking cabinet that hides all of our shoes that used to lie on the floor.”

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• Ktaxon 12-Tier Shoe Cabinet, $130 (was $169) at Walmart
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Whether you need to clean up your shoes in the entryway or need a catchall in the mudroom, the Hawsaiy Farmhouse Shoe Cabinet is a great choice. It has ample space for storing accessories, shoes, electronics, and more, and includes an anti-tip kit for safety. Shoppers can save 48% on this cabinet, paying just $104 at Walmart. 

Why we love this deal

Whether completing online assignments for school, sending work emails, or streaming Netflix in your downtime, a tablet is a reliable choice for numerous activities, especially if it’s equipped with a time-saving Bluetooth keyboard. The addition of this wireless accessory transforms a basic tablet into a budget-friendly laptop that’s ultra-portable and lightweight. You don’t even need to break the bank to invest in this top-notch tech, because Walmart’s limited-time sale on the Aeezo 2-in-1 Laptop and Tablet brings the total cost to under $100. 

This bestselling Android 14 tablet is on sale for $75 at Walmart. The tablet, which offers “great performance and value,” according to one buyer, comes upgraded with a Bluetooth keyboard, wireless mouse, stylus pen, and protective case. This bestselling tablet and accessory bundle is a steal at its unbeatable price of just $75 right now. 

Aeezo 2-in-1 Laptop and Tablet, $75 at Walmart

Why do shoppers love it?

Outfitted with everything you need for everyday computing tasks, this two-in-one laptop and tablet is user-friendly and reliable. It runs on the Android 14 operating system and has an octa-core processor for a fast and secure performance. The Google Play Store comes preinstalled on the device, so you can quickly download your favorite apps, like YouTube, Facebook, and WhatsApp. There’s plenty of space to add these go-to apps, as well as for your favorite movies and e-books, as the tablet comes with 20 gigabytes (GB) of RAM and 64 GB of ROM, which is expandable up to 1 terabyte (TB).

Related: Walmart has a $297 Android 14 tablet for 49% off

Designed for on-the-go functionality, the tablet has a 5000-milliampere-hour battery that offers up to 10 hours of playtime on a single charge. If you’re stuck at the airport or working at the coffee shop, this means you won’t need to stay near an outlet to stay powered up. Since the tablet comes with a spacious 10.1-inch high-definition touchscreen display, the viewing experience has stunning visuals that are easier on the eyes compared to a small smartphone screen. Additionally, the device has a 5-megapixel front camera and an 8-megapixel rear camera, so you can take photos and answer video calls.

Pros and cons of the Aeezo 2-in-1 laptop and tablet

Pros:

• It’s a two-in-one device. Instead of buying a tablet and a laptop separately, you can switch between both with the Bluetooth accessory bundle.
• It’s an excellent value. It’s uncommon to find a tablet without any accessories for under $80, let alone one that is decked out this much.
• The keyboard adds efficiency.  One shopper raved, “It’s lightweight, easy to carry, and the keyboard makes typing much faster.”

Cons:

• It’s meant for basic tasks. If you need an electronic for advanced gaming or processing large data files, you’ll want something else.
• It’s a smaller tablet. When it comes to tablet screens, this one is in the smaller range.

Shop more deals

• Mslstm 2026 Android 14 Tablet, $149 (was $297) at Walmart
• Putecch 2-in-1 Laptop and Tablet, $97 (was $161) at Walmart

The Aeezo 2-in-1 Laptop and Tablet is a stellar bargain for just $75 at Walmart, especially since it’s loaded with handy accessories, like the wireless keyboard and mouse. Before the deal sells out, be sure to add this convenient device to your cart. 

The semiconductor company makes chips that control and convert electricity in electric vehicles, industrial equipment, and data centers. Stronger-than-expected demand from AI and industrial customers has prompted Onsemi to adjust how it allocates production capacity.

Onsemi’s third-quarter results showed revenue rising 11% from a year earlier to $1.72 billion, and adjusted earnings climbed to $0.90 per share from $0.63.

AI data center revenue reached $180 million, up 39% from the previous quarter. Management now expects roughly $620 million in AI data center revenue for 2026 and projects that figure will double in 2027 as additional products enter production.

Onsemi (ON) shares rose about 4.78% to $73.46 in afternoon trading on Nov. 3 following the results and the company’s announcement of an acquisition aimed at expanding its AI power management business.

Why AI data centers need more Onsemi power chips

Onsemi began shipping power semiconductors in larger volumes to several major AI computing platforms in the third quarter, including Google, CEO Hassane El-Khoury said during the company’s Nov. 2 earnings call.

The products include silicon carbide and silicon-based chips used in power supplies and other systems that deliver electricity to AI servers.

Also read: Elon Musk admits Grok Bot is too costly as users hit caps

AI processors require large amounts of electricity to operate. Before that power reaches the chips, it must be converted and regulated to meet the voltage requirements of different components inside a server.

Those conversions can waste energy and generate heat. Onsemi’s power semiconductors help manage the process, allowing data center operators to deliver electricity more efficiently to increasingly powerful AI systems.

The industry is also moving toward higher-voltage power distribution. Nvidia has outlined an 800-volt direct-current architecture designed to reduce the number of power-conversion stages needed in large AI data centers.

Onsemi is developing products to support that transition, including technology for converting high-voltage electricity into the lower voltages used by processors.

The company also announced an agreement on Nov. 2 to acquire Ferric, a developer of integrated voltage-regulator technology, for $600 million in cash, plus up to $175 million in additional payments tied to future revenue milestones.

Ferric’s technology combines several power management components into a compact package that can be placed closer to an AI processor. The design aims to reduce power losses and the space needed to deliver electricity to increasingly power-hungry chips.

Onsemi said the Ferric acquisition would raise its 2030 AI data center revenue target by $500 million to more than $3 billion.

The transaction is expected to close by the end of 2026, subject to customary conditions. Onsemi does not expect the deal to have a meaningful near-term financial impact.

Automakers face a temporary wait for inventory restocking

Onsemi’s automotive business generated $777 million in third-quarter revenue, down 1% from the previous quarter, according to its earnings presentation.

Automotive remains the company’s largest end market, accounting for about 45% of total quarterly revenue. By comparison, AI data centers contributed about 10%.

During the earnings call, El-Khoury said Onsemi continues to supply the chips automakers need for current vehicle production. But some customers have also been placing orders to rebuild inventories in preparation for future demand.

Onsemi has temporarily delayed part of those replenishment orders as it directs constrained production capacity toward AI data centers and industrial customers.

Management says chips needed to keep vehicle assembly lines running are still being supplied. Some additional orders intended to restore automakers’ inventory levels will be fulfilled later.

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Chief Financial Officer Thad Trent expects automotive revenue to decline by a high-single-digit percentage sequentially in the fourth quarter, reflecting the continued supply reallocation as well as the timing of customer deliveries.

Industrial revenue, meanwhile, rose 10% from the previous quarter to $467 million as demand improved for energy infrastructure and other industrial applications.

El-Khoury said the shift in production priorities is temporary and does not represent a change in Onsemi’s long-term automotive strategy.

The company expects additional capacity to become available in the first quarter of 2027, allowing it to resume the delayed inventory shipments. Management also expects automotive revenue growth to return toward its longer-term target next year.

The next test will be whether that added capacity arrives on schedule. Onsemi expects AI data center revenue to double in 2027, but it will also need to catch up on automakers’ delayed inventory orders without disrupting deliveries for current vehicle production.

Related: Cathie Wood buys $9.1 million of tumbling tech stock

For generations, furniture shoppers have relied on familiar retailers when purchasing everything from living room sofas to bedroom sets and mattresses. But several longstanding furniture chains are disappearing as the industry struggles with sluggish demand and changing consumer spending habits.

According to the National Retail Federation’s September 2026 Retail Monitor, sales at furniture and home furnishings retailers declined 2.7% year over year, making it the only retail category to report a year-over-year decline.

The industry’s struggles are now becoming increasingly visible, leading to significant store closures.

Earlier this year, Value City Furniture and American Signature Furniture announced plans to close their remaining 89 locations following their parent company’s bankruptcy filing. Meanwhile, home furnishings retailer At Home has closed 31 stores as part of a restructuring that began in 2025.

Now, another over-a-century-old furniture retailer is preparing to close a location that has served as both its flagship showroom and corporate headquarters.

Haynes Furniture, a family-owned furniture chain founded in Virginia in 1898, has revealed new details about the permanent closure of its Virginia Beach facility, including when operations are expected to end and how many employees will be affected.

Haynes Furniture flagship store closes, 83 impacted

Haynes Furniture began as a small Virginia furniture business more than 128 years ago. The Strelitz family took over the business in 1930 and expanded it into a regional retailer selling furniture, mattresses and home furnishings.

The company also established The Dump Luxe Furniture Outlet, which offered discounted luxury furniture, including brand-name closeouts and overstocks. At the time it announced its shutdown, the company operated four Haynes Furniture stores in Virginia and eight The Dump locations across five states.

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On October 8, the retailer announced that all 12 locations would permanently close, ending more than a century of operations.

As TheStreet previously reported, the company launched liquidation sales across its remaining stores but did not provide a definitive closing date or disclose how many employees would lose their jobs.

A newly filed government notice now provides some additional details.

The October 30 Worker Adjustment and Retraining Notification (WARN) reveals the closure of  Haynes Furniture’s flagship store, its headquarters, at 5324 Virginia Beach Boulevard in Virginia Beach.

The closure is expected to take place between February 15 and February 28, 2027, affecting approximately 83 employees. The company said some employees could remain beyond that period and separation dates could change depending on business conditions.

The affected employees include 20 sales consultants, customer service representatives, store managers and merchandise-handling workers. The filing also lists several senior corporate positions, including the chief executive officer, chief financial officer, chief information officer and senior vice president of retail operations.

Haynes said the closure would be permanent and affected employees were not expected to be recalled.

“The decision to close the facility reflects current business conditions and the steps necessary to wind down operations,” the company stated in its WARN filing.

As the company page declares. All stores are closing and this is the final chance for shoppers to buy anything.

Haynes Furniture winds down operations after 128 years

The company’s shutdown follows an October announcement that it would discontinue both the Haynes Furniture and The Dump brands. Haynes Executive Chairman E.J. Strelitz, whose family has operated the business for generations, described the decision as a difficult end to the retailer’s history.

“This is a bittersweet ending, filled with gratitude for four generations of customers and employees,” Strelitz said in the company’s October 8 announcement.

Strelitz also said he was looking forward to retirement and spending more time contributing to the community. The company enlisted retail liquidation firm SB360 Capital Partners to oversee its going-out-of-business sales, which began October 8.

The sales feature furniture, mattresses and rugs, with additional markdowns planned throughout the liquidation process.

According to Haynes Furniture’s official FAQ, all purchases made beginning October 8, 2026, are final, with no refunds or exchanges. Customers who purchased merchandise before that date can contact the company’s customer service department for assistance.

The retailer has not announced a final shopping day for its Virginia Beach location or its other stores, despite the February closure timeline outlined in the WARN notice.

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Why we love this deal

The fall months are a wonderful time to give your home a refresh. New furniture, rugs, and bedding ahead of the holidays can make your home feel renewed and ready for its busiest season. Luckily, Macy’s can help you find the latter at a great price. It’s selling a lot of bedding right now at a discount, and we found a reversible comforter set that might be the most intriguing deal of them all. It’s well over half off, and the ornate floral pattern on the quilt gives off the coziest vibes.

The Macy’s Helena Floral Reversible 8-Piece Comforter Set is available for only $40 at the moment, which is 60% off what you’d usually pay for this gorgeous bedding set. What’s more, it comes with a number of accessories, and you can flip it over when you want to change things up.

Editor’s note: The original product is no longer on sale. Check out these similar options that are available at various discounts.

• Dhole 7-Piece Lightweight Comforter Set, $39 at Walmart
• Jessy Home Floral Lightweight Comforter, $30 (was $51) at Walmart

Macy’s Helena Floral Reversible 8-Piece Comforter Set, $40 (was $100) at Macy’s

Why do shoppers love it?

There’s so much to love about this set. To start, it includes everything you need for a brand new look. The set comes with a lightweight comforter, two pillow shams, two pillowcases, a fitted sheet, a flat sheet, and even a bed skirt. It’s not often you can buy a high-end comforter for so little and still get all the accessories to boot. The whole set is non-toxic certified, which means that no harmful chemicals were used in the manufacturing process. These days, it’s important to know exactly what you’re getting, especially for an item like bedding, which you use every single day. It’s also hypoallergenic due to the materials used, so it’s an ideal option for anyone who suffers from allergies.

The entire set is made from 100% brushed microfiber with a polyester base. The comforter fill is also a billowy and lightweight polyester that’s breathable enough to keep you from feeling too stifled in warmer weather. Box stitching throughout the comforter’s shell keeps the fill from shifting too much after regular use. The entire set is fade resistant and wrinkle free, so it’ll come out looking great after every wash cycle. The manufacturer recommends tumble drying on low heat to keep the set from premature wear. Thanks to anti-fray stitching on the edges of the comforter, it’s sure to last for years.

Aesthetically, this set is incredibly versatile. The main pattern is an ornate floral motif with pink and green hues on a cream-colored background. It’s a traditional look that matches with almost anything. However, if you want a more neutral modern vibe, the opposite side contains a geometric diamond pattern that’s plain and calming. It can also match with any color you put it next to. The bedding set is available in five size variants, from twin to California king. You may want to buy more than one at this price.

Related: Macy’s is selling a $100 8-piece reversible comforter set for just $40

Macy’s shoppers were as impressed with this bedding as we were. One called it “soft and beautiful,” saying that it was “made with great quality…Looks like it will withstand a lot of machine washes.”

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• Deer Check Reversible 3-Piece Comforter Set, $25 (was $80) at Macy’s
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Choose the Macy’s Helena Floral Reversible 8-Piece Comforter Set if you want a bed-in-a-bag set that you’ll never tire of. At the current price of just $40, it’s surprising that they haven’t sold out yet. If you want yours before they do, we recommend you buy one ASAP.

The company has repeatedly said the restructuring is intended to reduce management layers, improve efficiency, and allow teams to move faster.

But even after announcing approximately 30,000 corporate job cuts between October 2025 and January 2026, the reductions have continued.

Amazon carried out two additional rounds of layoffs in October, affecting its retail and devices businesses, just as the company reported record operating margins.

Amazon announces two more rounds of layoffs in October

On Oct. 7, Amazon eliminated hundreds of positions, primarily within its Stores division, which oversees its main e-commerce website.

According to Reuters, fewer than 1,000 white-collar employees were affected across teams, including customer service and selling partner services. Workers in the United States, India, and the United Kingdom were among those impacted.

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The layoffs coincided with Amazon’s Prime Big Deal Days shopping event.

An Amazon spokesperson said the company had adjusted parts of its Stores business to better support its priorities.

Then, on Oct. 28, Amazon eliminated up to 250 additional positions in its devices and services division, primarily affecting software development roles, Reuters reported. The division develops products including Kindle e-readers and Alexa-enabled devices.

The cuts followed several product launches, including new Kindle devices and an Alexa-powered alarm clock and photo frame. Amazon said the reductions would help it operate more efficiently and align staffing with its product plans.

Separate WARN notices filed in August also identified 269 Amazon positions in California and Washington with layoffs scheduled for October. It remains unclear whether those notices overlap with the two newly announced rounds.

A new WARN notice filed in Washington on Nov. 2 identified another 95 affected positions across Seattle, Bellevue, Sumner, Pasco and Redmond. The positions include software engineers, product managers, and operations employees, with separations scheduled between Dec. 7, 2026, and Jan. 25, 2027.

Some workers were notified on Oct. 7, coinciding with the retail layoffs reported by Reuters, although Amazon has not confirmed whether the reductions overlap.

Amazon layoffs continue after 30,000 corporate job cuts

The latest reductions follow two significantly larger restructuring announcements this year. As TheStreet previously reported, Amazon announced plans in January to eliminate approximately 16,000 corporate positions, following 14,000 cuts announced in October 2025.

The impact was particularly significant in Washington, where a subsequent WARN notice identified 2,198 affected jobs, primarily in Seattle and Bellevue. At the time, Amazon senior vice president Beth Galetti said the company was reducing bureaucracy, eliminating management layers, and increasing employee ownership.

Addressing whether broad workforce reductions would become a recurring pattern, Galetti wrote in a January employee memo, “That’s not our plan.” However, she added that individual teams would continue reviewing staffing needs.

The latest layoffs come as Amazon reports stronger financial performance.

According to its third-quarter earnings release, sales increased 12% to $201.9 billion, while operating income climbed 61% to $28.1 billion. CFO Brian Olsavsky described the company’s 13.9% operating margin as “our highest operating margin ever.”

During the Oct. 29 earnings call, CEO Andy Jassy also praised the performance of Amazon’s retail business.

“In stores, I think some folks are sleeping a bit on how much progress that business has made,” Jassy said.

“I’m not aware of another retail business approaching Amazon’s revenue size, hundreds of billions of dollars, with double-digit operating margins inclusive of ads that’s growing at this pace,” Jassy further added.

He pointed to more than $90 billion in additional gross retail sales over the previous 12 months and continued improvements in profitability.

And yet, despite these corporate reductions, Amazon’s overall workforce grew 4% year over year to approximately 1.638 million employees at the end of September 2026.

Big Tech layoffs continue across the industry

Amazon is not alone in reducing its workforce.

According to TheStreet’s September reporting, Microsoft disclosed another 277 job cuts in Washington as part of a broader restructuring, while Oracle cut approximately 800 additional positions in September based on WARN filings across Washington and California.

The reductions come amid broader pressure on technology employment.

According to Challenger, Gray & Christmas, technology companies announced 165,925 job cuts through September, up 54% from the same period last year. Meanwhile, Bureau of Labor Statistics data showed employment in the broader information sector declined by 18,000 in August and another 10,000 in September. 

This category includes telecommunications and media businesses, as well as certain technology companies.

Amazon CEO discusses growing role of robotics

During the October earnings call, Jassy also outlined Amazon’s expanding use of automation. He said the company now operates more than 1 million robots across its fulfillment network and expects their role to grow significantly.

Jassy predicted that many repetitive warehouse tasks currently performed by employees “will be done by robots,” although he emphasized that fulfillment centers would continue employing substantial numbers of people.

Amazon expects approximately $220 billion in capital expenditures this year, with most of that spending directed toward Amazon Web Services. However, the company has not directly attributed the October corporate layoffs to AI or robotics.

The cuts also come with Amazon’s plans to hire more than 300,000 seasonal, part-time, and full-time workers across its U.S. operations for the holiday season. Those positions primarily support fulfillment, transportation, and delivery operations, rather than the corporate divisions affected by the October layoffs.

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The pain has been particularly hard felt among semiconductors and cloud plays, many of which have been taken to the proverbial woodshed, including these five, which tumbled over 50% from summertime highs to recent lows:

• Intel: -58%
• Arm Holdings: -55%
• Oracle: -52%
• Sandisk: -53%
• KLA Corporation: -52%
  • Source: Yahoo! Historical Quotes

AI spending boom fears take root

Stocks tend to move based on emotion, and now, into its fourth year, the AI trade has gotten pretty crowded. I’ve seen this movie before during my 30-year career, so it’s not surprising to me to see the drawdowns. The usual progression: A new idea lands with many doubters and few believers. As stocks run, more converts jump on board until most of the money on the sidelines has joined the party, leaving few new buyers to step in to support stocks on pullbacks.

Tech stocks like Intel didn’t drop because their businesses have suddenly imploded. Instead, they’ve dropped because supply from sellers locking in gains has dwarfed demand. Basic economics sounds simplistic, but sometimes the simple answer is the correct one.

If there’s a specific catalyst beyond protecting gains, ratcheting back peak data-center spending is the most compelling. There’s mounting fear that we’re about to hit peak capex for data center spending in 2027, setting the stage for a slowdown.

The stakes are high, given the dollars at stake.

In mid-October, JPMorgan said 2026 AI capex for the five biggest hyperscalers (Amazon, Alphabet, Meta, Oracle, and Microsoft) would be $900 billion, climbing above $1 trillion in 2027.

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Most of that spending to date has been financed by free cash flow (and, arguably, by circular financing deals, thanks to investments from the likes of Nvidia). However, companies are increasingly turning to debt, exposing balance sheets to risk.

For instance, Goldman Sachs pegged the percentage of AI capex financed by debt at 33% in 2026, up from 26% in 2025. In 2027, Goldman Sachs says 35% will be paid for by debt, totaling roughly $400 billion.

If revenue growth underdelivers or lenders get antsy and borrowing gets pricier, we could end up with a major capex reset that unravels the AI trade, or so the bear argument goes.

Bank of America says demand justifies spending

There’s a silver lining to more judicious AI capex, though, suggests Bank of America. Analyst Vivek Arya thinks that if capex budget cuts happen, it would “lower peak profit but preserve compute scarcity, extend the AI cycle and support higher multiples over time.”

Think a shorter peak and a flatter runway for the entire AI cycle, which could mean less boom-and-bust action for underlying stocks.

Arya thinks there’s plenty of incentive to continue investing in AI, given surging backlogs.

“With $2.5tn+ backlog and surging enterprise adoption, demand looks durable: scarce compute, not excess capacity, is the risk,” wrote Arya in a research note shared with me.

Also read: Elon Musk sends incredible news to Micron stock investors

“Slower supply growth against resilient demand could lift utilization, support pricing and reduce overbuild risk. The result could be lower peak earnings, but a longer earnings runway and potentially higher multiples for chipmakers already valued as if the cycle is ending,” added Arya.

Major hyperscaler revenue certainly seems to support the argument for spending.

Amazon’s AWS revenue rose 39%, Microsoft Azure sales grew 49%, and Google AI revenue increased over 100% year over year in the third quarter, according to Arya.

Are beat-down tech stocks bargain bin buys?

The risk of a slowdown or debt reckoning is reflected in the most punished technology stocks. Intel has been late to the party in terms of AI-optimized chips, but optimism over U.S. fab capacity builds, and deeper pockets from U.S. and Nvidia investments caused its shares to soar before the recent drop, despite operational headwinds.

At Oracle, the fear of overspending to become one of the biggest hyperscalers has raised major debt concerns, contributing to its recent drop, despite the company’s argument that its backlog is solid and justifies the push.

ARM Holdings makes its money by selling semiconductor designs, and a slowdown in data center spending would crimp its upside. It has historically traded at a premium valuation because of its ‘asset-light/no-fab’ status, making it more susceptible to drawdowns as investors press sell on so-called expensive players first.

A downthrottling in capex would also be bad news for KLA Corporation, which makes inspection and measurement machines used to create semiconductors. If the data center buildout slows, so would chip demand, and the need for new fab equipment. Like ARM, KLA has long been considered a premium play in the semiconductor equipment space, trading at a higher valuation than peers such as Applied Materials and Lam Research, making it susceptible to sell-offs.

SanDisk sits in a different space, given that it makes memory, but lower spending on high-end server capacity means less memory is needed. Given the 303% surge in NAND flash memory this past year, and the historical cyclical nature of memory market demand, a bit of investors’ caution is warranted.

It’s hard to judge whether any of these individual stock drawdowns have run their course and are ready to reverse, but Arya thinks semiconductor plays aren’t overpriced relative to history.

“Since CY19, the SOX index has traded at 12.5x-30x forward PE multiple, ranging from a 20% discount to a 40% premium versus SPX. Today, 16.4x represents a 10% discount, consistent with AI-cycle troughs in CY23-1H26 and only 10pts above the deepest relative discount since CY19.”

Of course, stocks can always get cheaper, but Arya’s math shows that these stocks aren’t historically priced excessively, and that should give some modicum of comfort to bargain hunters, especially if Arya is right that a capex reset wouldn’t trigger demand destruction nearly to the extent some fear.

“The market therefore appears to be discounting capex risk before the demand data have cracked. If paying AI demand stays resilient, lower capex could reduce overbuild, preserve scarcity, extend the EPS cycle and justify higher multiples, in our opinion,” concluded Arya.

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The company is retiring Aquatic Life, the free screensaver that turns a 4K TV into a virtual saltwater aquarium. Viewers have begun seeing an on-screen notice saying the screensaver “will no longer be available” starting Dec. 1, 2026, and that it will switch to Roku City.

TheStreet confirmed the notice on a Roku TV. Cord Cutters News first reported the change on Nov. 2.

Roku has not publicly explained the decision. TheStreet has asked the company for comment and will update this story if it responds.

Fans have already started petitions, and the replacement happens to be one of Roku’s most valuable pieces of advertising real estate. The change also lands while Roku is in the middle of a roughly $22 billion takeover by Fox Corp. (FOXA).

Also Read: Fox’s $22 billion Roku bet just won over a longtime skeptic

Roku’s Aquatic Life screensaver is going away Dec. 1

Roku offers Aquatic Life only on 4K streaming devices, according to its support site. After the cutoff, affected users will be switched to Roku City, the animated cityscape Roku introduced in 2017.

The notice tells users who want something different to browse the Theme Store under Settings, then Theme, then Screensaver.

Cord Cutters News noted that several other screensavers aren’t showing the same discontinuation message, including the Jungle and Nautical screensavers, “Star Trek: The Original Series,” and a range of holiday-themed options.

Roku has not shared how many people use Aquatic Life. The company does say it reaches more than 100 million streaming households worldwide.

Why is Roku getting rid of Aquatic Life? What we know about the change

Roku City is more than a screensaver — it has become an advertising product.

In its annual report, Roku described native ads as “high-visibility placements,” including within the Roku City screensaver.

Those ads are one of several types Roku sells inside its own interface, which also include branded wallpaper themes on the Home screen, spotlight ads below the Home screen menu, and marquee ads beside the app tiles.

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Roku said it enhanced Roku City in 2025 with a new format for music, original storytelling, and interactive programming.

The company also shared in its 2023 annual report that it opened the screensaver to major advertisers in a broader range of industries. They included McDonald’s (MCD), Mattel (MAT), and Carnival Cruise Line, part of Carnival Corp. (CCL).

Cord Cutters News noted that viewers have spotted ads in Roku City for years, from a Barbie billboard to McDonald’s golden arches.

Roku has not said whether advertising played any role in retiring Aquatic Life.

Roku fans start petitions to save the Aquatic Life fish tank

Users aren’t taking the news quietly. At least three Change.org petitions started on Nov. 2 ask Roku to keep Aquatic Life, and together they had nearly 800 signatures as of 11:30 a.m. EST on Nov. 3.

One petition started by Toni Hershey said the screensaver’s underwater scenery has become a comforting part of many homes, including for families and children. It asked Roku to gather customer feedback before dropping features people enjoy.

Another petition started by Rhen Denis addressed Roku CEO Anthony Wood, saying the writer has used Aquatic Life for five years and that it makes the room feel cozy and familiar. The petition adds that the writer’s cat is mesmerized by it.

A third, started by Taylor Ellis, also asks Roku to keep the screensaver.

Fans have been vocal before. Roku’s community forums include threads going back to at least 2018 from users who found the aquarium missing from their devices.

In a later thread about the Home screen shortcut disappearing from some Roku Ultra players, one user wrote that their grandkids were not happy and asked, “Papa, how do I get the fish?”

Another user asked Roku to restore the shortcut and said they would “totally pay for it” as a $5-a-month subscription. A third wrote in an earlier thread that they “only purchased Roku because of this.”

Those posts were about earlier changes, not the Dec. 1 removal, but they do show how attached some owners are.

Fox’s $22 billion Roku takeover: Where the deal stands

Fox agreed in June to buy Roku. It will pay $96 in cash and 0.9693 shares of its Class A stock for each Roku share, according to its annual report.

Stockholders of both companies approved the deal in October, but it still needs antitrust clearance, Fox said in a quarterly filing. The Justice Department asked for more information in September, TheWrap also reported. The companies expect to close in the first half of 2027.

Nothing publicly links the screensaver decision to the deal.

How to change your Roku screensaver before Dec. 1

If you’d rather pick your own screensaver than get Roku City by default, you can change it now, according to Roku’s support site.

• Go to Settings, then Theme, then Screensaver.
• Choose an installed screensaver or browse the Theme Store, as the on-screen notice suggests. Roku’s support site says some screensavers are free and others can be purchased.
• Select Preview to see how a screensaver looks before you commit.
• Choose how long your Roku waits before the screensaver starts, or turn it off.

Related: Instagram quietly makes major change for Apple TV users

Over the past year, both companies have been reshaping their operations to gain an edge over their rivals. For instance, in August 2025, AT&T CEO John Stankey doubled down on the company’s new return-to-office policy in a memo to employees, encouraging those who prefer remote work to find a new job.

“We run a dynamic, customer-facing business, tackling large-scale, challenging initiatives,” wrote Stankey in the memo. “If the requirements dictated by this dynamic do not align to your personal desires, you have every right to find a career opportunity that is suitable to your aspirations and needs.”

In December 2025, Verizon also shifted gears by laying off 13,000 employees to simplify its operations. Later, at a Morgan Stanley conference in March, Verizon CEO Dan Schulman said he aims to transform the carrier into an “AI-first company.”

Verizon and AT&T cut more jobs

As Verizon and AT&T reshape their operations, both companies have quietly conducted layoffs in the third quarter of 2026.

Verizon’s latest earnings report revealed it ended the third quarter of 2026 with about 93,300 employees, down from 97,600 in the second quarter. 

The drop in employees comes after Verizon conducted hundreds of layoffs nationwide in May. In August, it also sold 274 company-owned retail stores and laid off over 3,000 employees, with 500 of those cuts affecting corporate workers. 

Read more: Comcast sends wake-up call to employees as customers cut services

At the end of the third quarter, AT&T had 127,150 employees, down from 130,870 at the end of the second quarter. This shift comes after the carrier reportedly laid off employees across multiple departments earlier this year. 

In an interview with Wired in September, AT&T Chief Technology Officer Jeremy Legg said the carrier will continue to lay off employees as it invests heavily in artificial intelligence. 

“We’re not going to have the same headcount in five years as we do today,” Legg says, adding that AT&T is comparing its staffing levels to those of peers, which plays a role in its decision-making.

Verizon and AT&T cut over 8,000 jobs combined in the third quarter. Headcount across both companies has declined by 142,460 between September 2020 and September 2026, a recent Light Reading report revealed. 

The job cuts come at a time when employment in the telecom industry is declining. According to recent U.S. Bureau of Labor Statistics data, the telecom industry has seen employment drop by 5,700 jobs between June and September 2026. 

Verizon and AT&T confront a changing telecom landscape

The recent job cuts at Verizon and AT&T also come at a time when both carriers are facing intense competitive pressures in wireless and broadband. 

For instance, wireless carriers are facing tougher competition from cable operators, which have been successfully gaining wireless customers through bundled internet and wireless offerings.

In the third quarter, Comcast attracted 368,000 new Xfinity wireless customers in the U.S., according to its latest earnings report. This growth comes after it began attaching a free mobile line to its internet plans in 2025. 

Spectrum also reported healthy wireless customer growth, adding 406,000 new wireless customers in the second quarter, its most recent earnings report revealed. 

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The additions follow the launch of its $1,000 savings guarantee earlier this year, which promises new and existing Spectrum internet customers who transfer at least two mobile lines from AT&T, T-Mobile or Verizon $1,000 in first-year savings.

Cable companies aren’t the only competitors putting pressure on traditional wireless carriers. SpaceX’s Starlink is another emerging rival. 

Starlink, which offers satellite internet packages currently ranging from $55 to $130 per month, has seen its U.S. broadband business grow considerably. New Street Research estimates that Starlink now serves about 4 million U.S. broadband customers, according to a Telecom Gazette report. This figure is higher than the 2.7 million the research firm estimated in May.

SpaceX is also pursuing a terrestrial network for its Starlink Mobile service. On an August earnings call, SpaceX Chief Operating Officer Gwynne Shotwell discussed the service’s potential to draw customers away from established wireless carriers, saying she expects it to “acquire quite a few” customers from Verizon, AT&T and T-Mobile. 

Telecom industry prepares for an AI-driven workforce shift

Amid rising competition, telecom companies across the globe are preparing to reshape their workforces with AI to improve productivity, a move many expect will lead to future job cuts.

According to a recent survey from EY-Parthenon, 97% of global telecom leaders expect AI to deliver significant productivity gains within five years. 

Also, 69% expect three-quarters of their workforce to be either upskilled or replaced over the next five years as organizations increasingly move towards AI-enabled operating models. 

“The workforce challenge extends beyond reskilling,” said Cédric Foray, an EY Global telecommunications sector leader, in a press release. 

“Telecom companies must also rethink organizational structures, redesign roles and processes, and develop new leadership capabilities to support the next phase of transformation,” he continued. “Leaders that simply add AI to existing ways of working risk missing much of the value. The opportunity lies in reengineering how work gets done across the organization.”

Related: Verizon responds to customer backlash over a service it’s ending

In State Street’s SPYM fund, Nvidia (NVDA), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOGL), Broadcom (AVGO), and Meta Platforms (META) together represented about 26% of the portfolio as of Oct. 29.

This implies that an investor does not need to purchase an AI stock intentionally to be concerned about its future.

Tom Lee thinks the latest sell-off may be approaching an important turning point. The Fundstrat co-founder said on Nov. 2 that he believes AI stocks are at or close to a bottom after a painful October for technology shares.

This means it’s difficult for regular investors to make a decision.

If Lee is correct, selling technology exposure during the downturn may entail leaving immediately before a recovery. Retirement portfolios that are already highly exposed to megacap technologies may suffer more if he is wrong.

It goes beyond just asking whether Nvidia has reached its lowest point.

After most of the harm has already been done, the question is whether investors are ready to sell.

Tom Lee says AI demand has not disappeared

Lee’s bullish argument starts with what he believes investors are getting wrong about the sell-off.

He does not see an AI industry that has built more computing capacity than customers need. “The market for AI is still very tight. It’s not an overcapacity market,” Lee said during a CNBC interview.

That difference is important.

Investors may see a far longer decline if AI businesses have already constructed too many data centers, purchased too many processors, and depleted consumer demand.

Lee instead argues that although demand remains strong, limits on how quickly infrastructure can be built are constraining growth. “I think we’re at the bottom,” he said.

It doesn’t guarantee that stocks will climb right away. And because investors can’t determine the extent of any declines, Lee himself cautioned that bottoms are risky.

Nvidia offers a helpful test to investors. It reported second-quarter fiscal 2027 data-center revenue of $89 billion, up 117% from a year earlier. The company expects third-quarter revenue of about $108 billion and reports results Nov. 17.

Your retirement fund may already be an AI bet

The average investor’s exposure is larger than many may realize.

Nvidia made up 7.77% of State Street’s SPYM S&P 500 fund on Oct. 29. Microsoft had 5.91%, Amazon 3.59%, Alphabet’s two share classes 4.5%, Broadcom 2.47%, and Meta 2.07%.

Information technology represented 38.4% of the fund.

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For someone making automatic monthly contributions to a 401(k), IRA, or brokerage account, Lee’s bottom line is relevant.

Nvidia may not have been the investor’s first choice, since it was selected for them by the index. But as such businesses expand, they may have more influence on broad-market returns due to their rising market prices.

When they come together, an investor may find that what seemed to be a broad portfolio actually relied more on a small number of tech firms.

October was the weakest month for the Nasdaq-100 tracking QQQ fund since March 2025, with a roughly 7% decline.

That decline explains why the timing of Lee’s call matters.

Selling after the drop creates a different risk

Paying too much for technology stocks is a clear risk ahead of an AI sell-off.

Selling after prices have already dropped poses additional danger to investors after a significant downturn.

This does not imply that all investors need to purchase further Nvidia.

A person who is decades away from retirement could have a different perspective on volatility. When prices drop, that younger investor who keeps making regular payments may purchase additional shares.

If Lee is mistaken and another significant deterioration occurs, a person nearing retirement will have less time to recover.

Concentration is a typical problem. Before responding to the most recent market change, investors should be aware of how much of their purportedly diverse portfolio is already linked to the same AI firms.

Over the next weeks, it will be simpler to evaluate Lee’s theory. Nvidia’s Nov. 17 results will show whether extraordinary AI demand is still translating into extraordinary revenue.

Additionally, investors should keep an eye on whether Microsoft, Alphabet, Amazon, and Meta continue to spend heavily and if the revival of the stock market extends beyond a few megacap companies.

The latest sell-off may ultimately prove to be a reset in expectations if AI demand stays tight and profits continue to rise. Lee could have called it quits too soon if consumers begin to reduce their spending.

His call is important for everybody who has even $1 invested in the AI trade.

Related: Nvidia has a stake in SpaceX that came from an unexpected place

Why we love this deal

The cooler fall weather has arrived, but for most areas in the country, a heavy winter coat isn’t yet required. On chilly days, all you need to head outside and stay comfortable is a lightweight fleece, puffer jacket, or cozy hoodie. Once the temperature drops, it’s time to pull out the toasty parka. Fluctuating weather means standing at the coat closet, trying to decide what to put on each morning. But what if there was a single jacket that could be worn at any time of the year? It could easily be the go-to coat you reach for every day. 

A perfect coat for every season does exist with the innovative Free Country Systems 3-in-1 Jacket, which is essentially three coats in one streamlined package. Act now, and you can score the adjustable outerwear in all four stylish shades on sale for under $150 at REI. 

Free Country Systems 3-in-1 Jacket, $140 (was $210) at REI

Why do shoppers love it?

The three-in-one design of this Free Country System Jacket is incredibly practical. It’s made up of a cozy inner layer and a weather-resistant outer layer. By combining the two together, you transform it into a third piece: the ultimate winter coat. The inner layer looks like a trendy puffer coat. It has cuffed hems and a buttery-soft pile lining for a lightweight layer that will keep you toasty on fall days. The outer layer is better suited for inclement weather with a wind-resistant and water-resistant design. It’s also equipped with a drawcord-adjustable hood, so you can stay extra warm. 

Related: Columbia’s popular fleece jacket is $46 in 13 colors at Macy’s

It’s the little details that really take this adaptable jacket to the next level. Both jackets have hand pockets sewn in, giving you an easy-access spot to keep your hands warm. For added security, the outer layer has zippered pockets, giving you peace of mind if you use them to carry your keys or wallet. There’s an extra zipper on the outer jacket, right on the arm, if you don’t want to give up your hand-warming pocket. Constructed from recycled polyester, the craftsmanship is more sustainable. It’s also machine washable, so there’s no extra hassle when it needs refreshing. 

Details to know 

• Sizes available: The adjustable coat is available in women’s sizes XS to XXL.
• Is it waterproof?: No, this jacket is water resistant, offering protection from light rain or snow.
• Is it machine washable?: Yes.
• Average shopper rating: 4.4 out of five stars.

“Perfect for winter,” is how one shopper described the coat. They added, “The outer shell seems to keep wind, wet, and cold out well, and the removable inner layer is soft and cozy.” Another reviewer raved, “It’s very convenient, and the three-in-one system allows you to wear the best option for weather conditions.” They declared it the “best jacket ever.”

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You’ll only need one coat in your closet this fall and winter with the Free Country Systems 3-in-1 Jacket. Don’t miss your chance to grab it for only $140 before the sale ends. 

It means enduring endless sales pitches, long pilot programs, and a frustratingly slow rollout.

But in the era of AI, that slow-burn sales cycle is collapsing. Companies are panicking because their legacy systems are failing and demanding immediate, scalable solutions.

Palantir Technologies (PLTR) just proved that shift in market dynamics is real.

The data analytics giant posted a blowout Q3 2026 report, crushing Wall Street estimates with $2.31 billion in sales and adjusted earnings of $0.44 per share.

That said, the biggest takeaway wasn’t the top-line beat. 

CEO Alex Karp effectively declared the old-school software sales model dead. Karp hinted at an aggressive new pattern emerging among corporate buyers, which suggests the standard tech-buying cycle has suddenly become obsolete.

The death of the 6-month software pilot

Typically, the enterprise software sales cycle was a grueling six-to-nine-month marathon.

“There used to be this long walk up to people talking to us, then you’d do a pilot, then you’d try to get a long pilot, then you kind of lock that in,” Palantir CEO Alex Karp noted on the Q3 2026 earnings call.   

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Software vendors would end up bloating their payrolls, hiring armies of salespeople simply “so that the market believes you’re going to have sales.”

However, Karp feels that cautious procurement playbook has officially collapsed. According to him, executives and companies alike are exhausted by “lightweight companies reselling tokens,” leading them to skip the courtship entirely. 

Instead, Karp explains that buyers are now arriving with a lot more purpose. They fear that their IP is in danger and that they’re getting no value out of the traditional arrangements, which has them going from “Hey, I’m not in a great marriage” to “I’m at the divorce.”

Instead of six-month trials, buyers flock to Palantir’s high-intensity bootcamps, which Karp described as “a little bit like a rock concert.” 

And at a recent Miami DevCon, a single customer engineer built a production-ready model outperforming frontier LLMs in just 48 hours.

The Q3 contract conversions prove the traditional trial phase is dead. An industrial materials giant converted a Q2 pilot into a $29 million annual contract value (ACV) deal in Q3, while a global appliance maker turned a $1 million Q2 pilot into a $3 million deal that same quarter before expanding fivefold to $15 million in Q3. 

As Karp told clients, ” We know we can deliver on this in weeks.”

How Palantir’s “football captain” moment fueled a $984 million commercial surge

For the better part of the past two decades, Wall Street pigeonholed Palantir as a secretive defense contractor whose complex software was perhaps too niche for mainstream corporate America. 

Even inside the company as recently as three years ago, the commercial segment was viewed merely as a “nice-to-have part of our business,” while CFO Dave Glazer repeatedly asked leadership, “Could you talk a little more about commercial?”

Q3 numbers prove that the commercial engine is firing on all cylinders. U.S. commercial revenue skyrocketed 148% year over year and 29% sequentially to $984 million, adding $587 million in just 12 months. 

For the first time in company history, U.S. commercial revenue officially eclipsed U.S. government revenue, which hit $953 million.

Karp joked that Palantir has “gone from being the most attractive person in the physics department to being the captain of the football team.” Instead of deploying an army of SaaS account executives, Palantir relies on “very few salespeople,” sending engineers like CTO Shyam Sankar directly to the front lines to implement live workflows.

The underlying unit economics are equally staggering. Palantir closed $1.463 billion in U.S. commercial total contract value (TCV) bookings in Q3, pushing trailing 12-month U.S. commercial bookings up 62% to $6.114 billion. 

With U.S. commercial customer count rising 29% to 686 and average revenue from its top 20 clients surging 76% to $146 million, management raised full-year U.S. commercial guidance to more than $3.559 billion, locking in at least 143% annual growth.

What it means for Palantir stock investors

Despite another blowout quarter, Wall Street’s immediate reaction was cautious. 

Palantir shares dropped 3% in regular trading to $178.44 and dropped another 3.82% after hours to $171.52, leaving the stock 6.8% below its prior close.

Moreover, shares sit comfortably below their 52-week high of $212.94, but remain miles above their $106.37 low.

On paper, the stock is priced for perfection. However, traditional valuation multiples fail to capture a business expanding this rapidly. As Karp argued, the commercial surge alone “probably justifies our current valuation, given our aggregate business growing at 96%.”

Backing that claim is a “jaw-dropping” Rule of 40 score, which combines revenue growth and adjusted operating margin, totaling 158%. 

For investors, I feel the big takeaway is that in a hyper-accelerated AI economy, software vendors that bypass six-month pilots to lock in eight-figure deals in weeks are the only ones worth owning.

Related: Jim Cramer explains the ‘AI cheat code’ driving Apple stock higher

Caroline Woods: Joining us now is Kevin Gordon, head of macro research at Charles Schwab. Kevin, welcome back to the desk. Great to have you.

Kevin Gordon: Good to be back.

Caroline Woods: All right, so let’s talk markets. We have Apple falling after earnings last night. We have semiconductors rallying. We have the Nasdaq still technically in correction territory down about 10% from the highs. After everything we’ve heard from all of these tech giants. Are you more encouraged or more concerned about the AI trade.

Kevin Gordon: Well, I think that from a from a broader market perspective, I’m more encouraged because you’re going through what is a pretty you know, what it’s become now a normal almost correction for the tech sector, especially in the case of the Nasdaq-100. So the third correction this year, or decline of at least 10% this year. And despite that, the rest of the market has continued to rebound.

Kevin Gordon: There’s a little bit of a defensive tilt to it. So it’s not necessarily the best kind of flavor of a rebound. But financials have been doing well. Small caps have been bouncing a bit. And then most importantly the equal-weighted S&P has definitely recovered and is almost back to its all-time high. But I think for tech in particular this sort of happens every earnings season.

Kevin Gordon: There’s kind of this scrutiny from the investors, the investor cohort around what does the CapEx plan look like, and can you really hit all of the metrics in terms of a beat on earnings? A beat on revenue? Is the CapEx number right, which is different for every company, seemingly especially for the hyperscalers. But you kind of go through this every earnings season seemingly, and it’s getting a little bit more, I would say, aggressive with some of these drawdowns, especially within communication services.

Kevin Gordon: That’s been a notable laggard. But I think particularly in that space, one of the reasons that we have become a little bit less favorable on the sector was from a valuation standpoint. So I would argue a lot of that is maybe just a washout in some of the excess that you would see from multiples.

Caroline Woods: So you would look at this as sort of just a healthy reset before money goes back into Big Tech. Or do you look at the rotation that we’ve been seeing as something that could be?

Kevin Gordon: I think it’s a well, I think it’s a it’s a sort of a needed reset for tech because so much of the excess in the earnings estimates and the expectations are actually just concentrated in information technology, the sector, if you want to think about just the way it’s labeled, the GICS sector, information technology, when you look at forward earnings estimates in that sector, they’re up by more than 90% year over year, which is the rate of change we have never seen ever in history.

Kevin Gordon: Unfortunately, that’s really not spreading to the rest of the market. I mean, even if you look at communication services those earnings expectations are not as aggressive. So I think the fact that it’s happening this most of this corrective activity is is almost exclusively in tech right now. And that’s where most of the pain is. And to my earlier point that the broader market recovering that to me I think is sort of this healthy reset, whether it goes back exclusively into tech at the expense of the rest of the market.

Kevin Gordon: I’m not so sure if that necessarily holds up, because you still have the economy that’s growing, still a labor market that is expanding, albeit in a choppy, sort of uneven way. But I think in that environment, the cyclicals can continue to do well, which is why we have one of the reasons we have a more favorable rating on those sectors.

Caroline Woods: Okay. Well we’ll broaden it out and talk about kind of your overall portfolio positioning in just a second. But first, do you look at any down days and some of the pain that we’ve been seeing in tech as a buying opportunity?

Kevin Gordon: I think it can be, but particularly up the quality spectrum. I mean, this actually exists and sort of, I think rings true for large caps and small caps. One of the more definitive features of the market this year, I think, particularly because of what’s happened with rates. And now that there’s a little bit more of this constraint from, from a cost of financing perspective, has been in that higher-quality space, we’ve just seen a lot of damage done to lower-quality, unprofitable companies.

Kevin Gordon: And, you know, I always sort of get a response to that where it’s sort of the ultimate, statement. But we have gone through cycles, especially post-pandemic market cycles, many market cycles where there are times when the unprofitable cohorts are running and outperforming the market dramatically. We are not seeing that this year. And I think that the rate structure is sort of central to that.

Kevin Gordon: Oil is playing a little bit of a, of a role. But I think because of how much rates have moved up, particularly at the long end, that has really driven this divergence between that higher-quality and lower-quality, performance, particularly within tech.

Caroline Woods: So if someone says, how do I know if it’s up the quality spectrum outside of just being profitable? Yeah. What should they be looking for?

Kevin Gordon: I mean, there’s a number of metrics. I mean, interest coverage is one of my favorites. So if you have a strong interest coverage ratio that sort of tends to be kind of I think the catchall for, for quality. And in my view,

Caroline Woods: What does interest coverage mean?

Kevin Gordon: Being able to service your debt costs in terms of your interest expense, and having that from what you already have in cash flow terms. You don’t necessarily want to have that ratio slip below one. That doesn’t necessarily screen well, I would say, for up in quality. But there are other metrics around strong revenue growth.

Kevin Gordon: Strong earnings growth if you have, you know, positive free cash flow. I would say that probably rings more true for companies that are smaller, because we’ve seen a lot of the hyperscalers slip on that metric in particular. But they have other businesses and other parts of their businesses where revenue growth is strong. So there’s always a little bit of a caveat.

Caroline Woods: So hyperscalers are still on the high end of the quality.

Kevin Gordon: Spectrum when you can when you combine a lot of those metrics. Yes. So they sort of still fit in that category.

Caroline Woods: You know as we broaden it out though, the S&P 500 is up about 11% year-to-date. But if the S&P 500 is doing so well, why doesn’t it feel like that strong of a bull market.

Kevin Gordon: Yeah I you know I was I was actually thinking a lot about this morning and just looking at a very simple year-to-date chart of the index. And most of the gain was made in about 44 days from the low that we had, you know, in March. And then that sort of rocket move that you had into April.

Kevin Gordon: And then since then it’s been sort of a chop. It’s been a chop sideways since then. And then before that, that, that dropped that sort of waterfall decline into March, you had had the market trending just sideways for a couple of months. So I think a lot of it has to do with in the near term, it doesn’t feel like the market’s gone anywhere.

Kevin Gordon: Plus, you layer on to that. The fact that all of this corrective activity in tech, where a lot of investors sort of you feel exposure certainly, but are sort of drawn to in terms of the coverage that they get. I think a lot of that is sort of fueled the bears sentiment. But it is interesting because it’s very much at odds with what we see from, from a behavioral standpoint and how much money continues to go into the market.

Kevin Gordon: Equity ETF flows are still quite strong when we look at investor positioning and that sort of purchase activity might be slowing a bit, but overall positioning and how people are exposed to the equity market has not slipped. So I think that’s an interesting juxtaposition. And actually in a way, maybe keeps more of the of the bullish energy alive for the market because you don’t tend to get significant corrections or bear markets until both the attitude, the behavioral component are extremely bullish and in optimism and euphoric territory.

Kevin Gordon: We’ve we’re still waiting for that attitudinal component.

Caroline Woods: If it feels too good, it’s probably bad. However, I was taking a look at your notes, and you say the average stock in the S&P 500 is actually down more than 25%, and the average stock for the Nasdaq is closer to 50%. So does that mean that this is actually a bear market disguised as a bull market?

Kevin Gordon: Well, particularly, it’s the average maximum drawdown. So at any point this year, you’ve seen the average stock in the S&P, you know, an average maximum drawdown.

Caroline Woods: It’s not here today.

Kevin Gordon: It’s actually maximum. Although as of yesterday’s close the you know, percentage of stocks in the Nasdaq-100 that are in a bear market. So down by more than 20%, you know, at this moment, just breached 51%. We were a little bit higher earlier this year. So that’s not some, you know, red flag number. That means that we’re about to see the index go into a bear market.

Kevin Gordon: But you see, the point is you’ve seen just a ton of churn and a ton of rotation under the surface. And and we’ve really been trying to emphasize to investors and our clients that is becoming increasingly the norm in this post-pandemic market environment. It’s not normal to see that in history, but because of the weight that you have from the mega-caps, from the hyperscalers, the fact that the ten largest companies make up 40% of the S&P 500’s market cap that is leading to these, you know, sort of either or days.

Kevin Gordon: You know, the index could be doing one thing, but the rest of the market could be doing the opposite. And then at times you get serious corrections and serious rolling corrections very much like we’re in right now for, for technology.

Caroline Woods: But given tech’s weight in the S&P 500, if it’s not going to be tech that’s really driving this market higher, where is it going to go then?

Kevin Gordon: Well, it’s already filtered through to I mean in the rebounds. You know you’ve seen other parts of the market whether it’s consumer discretionary and staples. They’ve sort of been both rebounding together or financials which is a significant sector weight wise in the index. You’ve had these pockets of outperformance lately.

Caroline Woods: It’s just not—

Kevin Gordon: Felt at the—

Caroline Woods: The highs are surpassing that.

Kevin Gordon: And this is just the math of the index. I think the math works against you as a cap-weighted index investor, if that’s how you’re approaching this. If you’re looking at it sector by sector, you may be able to sort of play it a little bit better. But the from a cap-weighted perspective, for especially for an index like the S&P, if you don’t get that strong participation from tech, you’re not necessarily going to feel it at the headline level.

Caroline Woods: So for the retail investors who are tuning in, yes. Should they not be just investing in the S&P 500 at this point?

Kevin Gordon: I mean, I would always argue that you should expand beyond just a large-cap index. I mean, in any diversified portfolio that makes sense, but also know what you own, even if it’s at a sector level, because you can get some pretty significant concentration at the individual sector level. And it’s not just in tech or comm services.

Kevin Gordon: Communication services is the most extreme, I would say, if you’re looking at the sort of percentage that even the top two companies make up of that of that sector, it’s well above 70%. So you’re essentially looking at really just two companies, for, for communication services, alphabet. And that’s meta. But in other sectors, you wouldn’t think about it.

Kevin Gordon: Energy as an example, the two largest members in that sector make up more than 50% of that sector’s market cap. So, I think taking an equal-weighted approach from a sector perspective can make a lot of sense if you want to guard against some of that more sort of, you know, not extreme, but that more intense downward pressure that you can get whenever tech in these kind of tech adjacent parts of the market do go through it, you know, an intense selloff.

Caroline Woods: So if leadership continues broadening beyond Big Tech, which sectors are poised to benefit most from here.

Kevin Gordon: So we’ve had favorable ratings. And some of them were recently upgrading an area like energy. But if you look at our favorable ratings for the 12 sectors, it’s energy financials, industrials materials. So very cyclical nature. And then we’ve had healthcare in there for a little bit just because from kind of an AI beneficiary standpoint, we wanted to have a little bit of a barbell approach.

Kevin Gordon: Health care is always seen as this kind of classically defensive sector. But when you think about some of the some of the potential benefits from a profit margin, an efficiency perspective, kind of seems like a sector that’s sort of ripe for, for that. But it’s not something that we would say. I mean, these are not short term tactical calls.

Kevin Gordon: So it’s not as if in the next two months we think health care is going to be the top performer. We just think that there is potential for some momentum there in terms of the beneficiaries of technology.

Caroline Woods: But health care is on the opposite end of the barbell is energy. Yes, yes. Where is tech in that barbell?

Kevin Gordon: Techs in the middle. We’ve had it neutral for, for quite some time now. You know, knock on whatever has, you know, worked has worked pretty well. And I would say, you know, neutral is not a bearish call. It’s not saying that we think that the sector is going to do nothing. But when you look at relative to the market, has not dramatically outperformed the S&P 500 over the past several months, you can actually almost take it back almost six months, to this point where where tech is not done well, even on an equal-weighted basis, the tech sector so far in the second half of the year is down.

Kevin Gordon: Not dramatic, just slightly more than 4%. But we just feel that there’s other opportunities outside of that sector because it definitely had its day in the sun. Significant performer, you know, post post bear market low in 2022. But in that process, and as the bull market has continued to age, there have been other sectors that have been sort of swept up in the momentum.

Caroline Woods: What does a neutral tech exposure and an everyday retail investors portfolio look like?

Kevin Gordon: It depends on how you measure it. I mean, if you want to if you want to measure it like you would in a cap-weighted index, you’re going to have some pretty significant exposure. But again, if you want to take an equal-weighted approach, I think that really does level the playing field for some of these sectors, especially energy, which kind of get thrown to the wayside a lot because of just their shrinking footprint over time.

Kevin Gordon: I mean, the energy sector is about 3% of the S&P 500 market cap. So there are a handful of tech companies that are larger than the energy sector, when you think about it in those percentage terms. So I think just because of the bearishness in some of these deeper cyclicals and the outflows in those areas, particularly energy, the fact that you’re continuing to see the economy grow, the fact that you have this upward pressure on commodity prices probably makes sense to to have some exposure there.

Kevin Gordon: I mean, everybody’s situation is different and how they want to sort of have exposure to those areas. But we would just say don’t throw them away and sort of discount them altogether. Because the inflation backdrop we have, the growth backdrop that we have is still very much in favor of having that cyclical exposure.

Caroline Woods: And you’re still bullish. You think this is a market that can continue to move higher.

Kevin Gordon: Yeah. But not without I think a lot of this continue to chart. So I think getting used to again, back to the point of this post-pandemic market environment, the churn becoming the norm, you know, going through these periods where the S&P 500 is unchanged for several months now, yet you do have these pockets of outperformance. You just can’t see them.

Kevin Gordon: You really have to peel that. We call it peeling back the onion, the market onion, and taking back one layer and finding those outperforming pockets. It just takes a little bit more research below the level of the index. So I’m bullish on that.

Caroline Woods: Are there any areas though sector wise that you think would you’re kind of too late to get in at this point.

Kevin Gordon: I never think about it as getting in, because to me, a longer term strategy of investing in a sector is how you want to position it in a portfolio and what it can do for you. So from that standpoint.

Caroline Woods: If I don’t have energy, like specific energy exposure, healthcare exposure, if I am pretty broadly diversified in tech or the S&P 500 and I want more exposure after listening to you, are there any areas right now that have already I mean, energy is by far the best performing sector. Yeah. So far this year, is it is it too late to add here or do you have to wait?

Caroline Woods: I know you can’t time the market, but you have to wait.

Kevin Gordon: I don’t think so, especially because—and not everything boils back down to the Fed and what they do—but if you think about the profile of the economy, it’s still growing. Certain parts are stronger than others. We definitely had a weakening of the consumer going from the third quarter into the fourth quarter. So most of the strength of the impulse is still coming from business investment.

Kevin Gordon: But broadly growth profile is is looking relatively resilient. And then you think about the Fed being, I would say accommodative in its hiking cycle in the sense that it seems that they want to go slow. In history, when you look at fed hiking cycles that are slower and not aggressive in nature, and when you look at an economy that continues to grow, that continues to argue for the cyclical parts of the market to do well.

Kevin Gordon: So whether that’s financials, whether that’s industrials or materials, both of which are actually very central to this I infrastructure build out, that I think would still sort of argue for those sectors doing well. So that I think would be an example of where, you know, investors don’t necessarily need to feel like they’re behind in and maybe finding more exposure in sectors that they probably don’t have, you know, as much as, as tech, for example.

Caroline Woods: So if that churn that you’ve talked about becomes kind of a permanent fixture in this market, is it that investors actually have to change the way they invest, or is it that they just have to get used to bigger swings?

Kevin Gordon: I think the latter, I think change it will. And maybe maybe they’re one in the same, changing the way you invest versus bigger swings. Because if you don’t feel as comfortable with have how much, you know, the S&P 500 is exposed to this sort of shrinking number of, of mega-caps, than it probably does arguably warrant a little bit of a shift in how you construct a portfolio, whether that is down the cap spectrum into the mid-cap space or the small-cap space, or whether it is looking at ways to invest on an equal-weighted basis, that is actually, you know, over the long term equity, the S&P 500, it’s done

Kevin Gordon: quite well. It just sort of gets distorted by the outperformance that you’ve seen in the past, you know, 5 or 6 years.

Caroline Woods: Okay. What is the biggest risk to the market right now.

Kevin Gordon: So I think any any significant slowdown in the business investment channel, because mechanically that would certainly put you the GDP math is such that would probably put you into a significant slowdown for, for the broader economy, because so much is still tied to this, this build out of the infrastructure. But to the extent that has a knock on effect to the labor market, that I think would be the biggest risk if there was something out of out of the blue that we didn’t see coming.

Kevin Gordon: In terms of companies starting to really pull back on their CapEx, and if that sort of leads to a little bit of a breakdown in that and that circular nature of, of the cycle.

Caroline Woods: So it’s more the AI economy slowing down than the actual economy?

Kevin Gordon: I think so, but but increasingly it’s getting harder to differentiate and separate those two. So you are kind of fusing them together. And it’s not all dependent only on artificial intelligence and what has been done there. But I do think that we need to be wary of, not wary of maybe maybe cognizant of some potential for a slowdown in business investment, especially if we start to see the lagged impact of rates moving up a little bit higher.

Kevin Gordon: And if you don’t get a recovery in these other sectors, like housing and U.S. housing is still in its own recession, absent the rest of the economy, of course, it’s sort of living in its own house, so to speak. But I think if you don’t get a pickup in those areas and if business investment does start to slow, which is not necessarily in our, you know, our thinking or our forecast for the economy, but that, I would say, is a risk to be to be mindful of.

Caroline Woods: Yet we haven’t talked about consumer staples, consumer discretionary at all as part of your barbell approach. Is that because you’re avoiding, is that because you’re worried about the consumer losing momentum?

Kevin Gordon: Not as much momentum. But I think that from a from an affordability perspective, inflation and how much it is eating into the consumer’s ability to spend, not their willingness to spend, because there’s still a willingness to do it month to month. That consumer spending engine stays intact as long as you’ve got, you know, job growth that’s positive.

Kevin Gordon: And we live in a fully employed economy, which is still the case month to month. It’s just the case that I think from a maybe multiple fronts, especially discretionary. But also I would throw staples in to some extent from a tariff front, from a, from an input cost from especially this trickle down from diesel prices. They kind of get hit it, you know, from multiple angles.

Kevin Gordon: And that’s why consumer discretionary has been such a laggard so far this year. So we’re just not ready to sort of turn favorable on it until you can get a clearer outlook. Predominantly I would say from an inflation perspective, because I think you do need to see that inflation adjusted wage growth stabilize. But then after that, I do think you need to have more confidence from, from the broader consumer base, to be able to spend more on those discretionary items.

Caroline Woods: So unlike tech, where you have a neutral rating, you’re.

Kevin Gordon: Less.

Caroline Woods: Favorable, a lot less favorable on discretionary. And what else?

Kevin Gordon: Discretionary real estate.

Caroline Woods: Okay.

Kevin Gordon: So somewhat makes sense from a rates perspective as to why. But we really haven’t seen, we really haven’t seen conditions turn favorable yet for those two.

Caroline Woods: Okay. And one thing that I haven’t mentioned yet and we’re almost at the end here, is that today’s election day. Yes. So what should investors be watching for as results come in? Could that throw a total wrench in all of these forecasts depending.

Kevin Gordon: Oh, I mean, you know, we never pick any, any electoral, event as, as something to sort of anchor around in terms of changing your portfolio or your positioning. I would say that, you know, we’ve got reams of data this, midterm elections and the market being up, you know, in every case, if you go further than six months out, I just think that it’s an event that the market doesn’t really care about as much in terms of how much leadership will shift, you know, around it.

Kevin Gordon: If anything, I think it becomes a little bit of a sigh of relief in a clearing event because there’s so much angst heading up into it. The only thing that may be different a little bit this time, is, you know, the focus on data centers really being on the ballot. I don’t know how much of that will necessarily get filtered into a model, in terms of, okay, if the votes tally up a certain way for, for public backlash against data centers.

Kevin Gordon: What that does to, you know, semiconductors, for instance, I don’t think it’s that easy of a transmission mechanism, but I think we are going to get a lot more color on how the public feels about it, and particularly how the business community, I mean, particularly in the AI space, what the response looks like to it. So maybe that’s a little bit of a different, you know, flavor, to this cycle, this midterm election cycle.

Kevin Gordon: But broadly, we’re never thinking in terms of, you know, change your portfolio or positioning based on the, you know, the outcome of the election.

Caroline Woods: Okay. So as we think about, you know, heading into year end, do you think this is a market that can be higher by the end of the year?

Kevin Gordon: I think, but maybe marginally. I think you’re going to need to see you need to see a pretty significant comeback for, for tech. So if we’re thinking about the market in that cap-weighted index sense, you would you would need to see that, that come back from a tech perspective. But if you, if you had, you know, solid breadth profile, which actually we’ve seen a solid recovery in S&P 500 breadth.

Kevin Gordon: And if you see a little bit that optimism continue to kind of work its way out of the market. I think that sets you up maybe more in 2027 terms for a little bit of a better start to that year as opposed to, you know, the end of this year.

Caroline Woods: And just to bring it back to where we started with tech earnings, do the fundamentals justify, you know, regained momentum within tech?

Kevin Gordon: I mean was leading up until this point fundamentals have justified it. I think it’s more the flip side of it and looking out and how much the expectations have grown. That’s the part that maybe we’d put more in the risk column is if companies just can’t meet those expectations because we are in this unique environment in the cycle where, you know, typically when you go through an earnings season, the bar gets lowered and then a companies clear that far rather easily.

Kevin Gordon: You know, analysts cut their estimates and then companies can clear it when they report. We’re basically living through the opposite where the bar keeps getting raised and companies have been able to meet it. But some of the disappointment that you’re seeing and some of the stock price reactions is outside of things like just earnings, like capital expenditures and what the number looks like.

Kevin Gordon: And we’ve had different reactions, whether they’re raising or whether they’re lowering guidance. Okay. So I think that’s the that’s the metric to focus on. Okay.

Caroline Woods: I think it’s a great time to pivot to a rapid-fire round of This or That. Quick questions, quick answers, no hedging.

Kevin Gordon: Okay.

Caroline Woods: Ready? S&P 500: higher or lower by year-end?

Kevin Gordon: Higher.

Caroline Woods: Biggest market risk: AI bubble or consumer slowdown?

Caroline Woods: AI bubble. The next big market winners: AI-related stocks or companies outside of tech?

Kevin Gordon: Outside of.

Caroline Woods: Tech. More upside in 2027: mega-cap tech or the rest of the S&P 500?

Kevin Gordon: The rest of the S&P 500.

Caroline Woods: Market-cap-weighted or equal-weighted S&P 500?

Kevin Gordon: Equal-weighted.

Caroline Woods: Software or semiconductors?

Kevin Gordon: Semiconductors.

Caroline Woods: Large caps or small caps?

Kevin Gordon: Small caps. I want to hedge it, but I’m sticking to your rules: highly profitable small caps, because there’s been such a dramatic split this year between the performance of those.

Caroline Woods: That’s not a hedge. That’s context.

Kevin Gordon: That’s good.

Caroline Woods: We don’t like it. We don’t like both. U.S. or international?

Kevin Gordon: U.S.

Caroline Woods: Growth or value?

Kevin Gordon: Value.

Caroline Woods: Biggest value in the market right now?

Kevin Gordon: Highly profitable small caps.

Caroline Woods: Consumer discretionary or consumer staples?

Kevin Gordon: Depends on the time frame, but I will say discretionary.

Caroline Woods: For what time frame?

Kevin Gordon: I would say if we’re looking at least a year out, I would say discretionary.

Caroline Woods: Financials or industrials?

Kevin Gordon: Financials.

Caroline Woods: Bigger economic threat: inflation or unemployment? Inflation. Fed’s next move: hike or hold?

Kevin Gordon: Hike.

Caroline Woods: AI spending boom: sustainable or unsustainable?

Kevin Gordon: For now, sustainable.

Caroline Woods: Stocks or cash for the next six months? Stocks. Buy the dip or wait for a bigger pullback?

Kevin Gordon: Oh, buy the dip.

Caroline Woods: And the most overlooked sector heading into 2027?

Caroline Woods: Materials. And in a few words, describe how you’re feeling about the market heading into year-end and into 2027.

Kevin Gordon: Cautiously optimistic, with certainly a focus on how much hotter inflation gets from here.

Caroline Woods: And finish this sentence. The biggest risk to the bull market is.

Kevin Gordon: A further breakdown in tech.

Caroline Woods: All right. Well what does that look like. Like a down day or how many.

Kevin Gordon: I think breadth for the Nasdaq not recovering, and basically a setup like you saw heading into 2022. Most of the weakness that started in tech was really kind of a precursor to what happened with the rest of the market. But importantly, in 2022, it was an earnings/valuation bear market. So that was more of a cyclical reset as opposed to a signal that there was going to be some massive recession.

Caroline Woods: Okay. All right. Kevin Gordon, always a pleasure. Thank you so much. Really appreciate it. That’s Kevin Gordon, head of macro research at Charles Schwab. If you enjoyed this Street Talk, check out our full interview with Dan Ives. We hit on all the major tech stocks, and he gives his top picks and the ones he’s avoiding. And if you’re liking this content, be sure to like, comment, and subscribe.

Along with its signature fried chicken, it served dishes as diverse as lamb burgers, clam dinners, chicken livers, chicken tacos, and corn dogs, as well as long-forgotten sides such as rice dressing and bar-b-que beans.

Another original side dish that appeared on the older Popeyes menu was Cajun Onion Rings. The beer-battered slices of onion coated in Popeyes’ signature blend of Cajun spices became a menu staple particularly popular during the 1990s.

The kick of Cajun heat was what made the Popeyes version stand out from onion rings served at other chains.

Popeyes brings back Cajun Onion Rings for $3.99

To make room for new items and menu experimentation, the onion rings were eventually taken off the menu in most Popeyes restaurants in the 2010s (a few locations kept them until the start of the 2020s).

This week, Cajun Onion Rings were once again brought back at a price of $3.99, with a side of buttermilk ranch dressing.

“Onion rings are back at Popeyes,” the fast-food chain shared in an Instagram reel announcing the return. “After a decade of anticipation and cravings, everyone’s favorite crispy, golden side has returned.”

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The onion rings are also available as part of a combo with six pieces of Popeyes’ signature Bone-In Chicken for $10.

The item is part of a temporary promotion that will eventually exit the menu, although the chain has not confirmed when that will be, and whether good uptake will motivate it to return the onion rings permanently.

As Popeyes brings back onion rings, customers will see fewer wings

The return of the onion rings coincides with the chain’s plans to scale back its wide array of wing options. Popeyes has relied on these over the last three years, after expanding its permanent lineup to five sauces.

The exact details of what will be kept and what will be cut are currently unknown. Restaurant Brands International CEO Josh Kobza did, however, tell investors in an earnings call that reducing the chain’s wings offerings would help streamline operations and allow it to focus on core items, including the regular fried chicken and more popular chicken tenders.

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“Wings add to operational complexity, and simplifying the platform allows us to put greater emphasis behind the core items,” Kobza said at the end of October.

In the last Oct. 29 earnings report, the parent company reported that Popeyes’ same-store sales declined by 2.2% from the previous year. According to Kobza, the sales decline was at least partially driven by Limited-Time Offers (LTOs) that did not achieve the results that the chain initially hoped for.

On Oct. 22, a Florida judge also approved a plan that will allow large Popeyes franchisee Sailormen Inc. to exit the Chapter 11 bankruptcy for which it filed in January 2026.

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As part of its efforts to grow its network to India by 40% in a single year, national airline Air Canada launched a fifth-freedom route between Toronto and Mumbai in October 2024.

Running on the carrier’s fleet of Boeing 787-8 and 787-9 planes, the flight between Toronto Pearson (YYZ) and Chhatrapati Shivaji Maharaj International Airport (BOM) in Mumbai operated as a fifth-freedom flight with a stopover in London Heathrow (LHR) to pick up additional passengers. The total flight time of just over 22 hours with the stop.

Air Canada is not bringing back its Toronto-Mumbai flight in 2027

With Indian flag carrier Air India launching a new direct route between Toronto and Mumbai taking just over 15 hours at the end of October, Air Canada has confirmed that it is no longer bringing back its stopover flight in 2027.

The airline cited operational inefficiencies, specifically the passenger traffic numbers relative to the challenges around needing to avoid Russian airspace when flying between the two cities, as the primary reason that it chose to discontinue the route.

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Air Canada has previously also cited jet fuel prices as “affecting some lower profitability routes and flights which now are no longer economically feasible.”

The cancelation of the Toronto-Mumbai route is part of wider network cuts that also include the axing of flights between Calgary and Delhi and Toronto and Mumbai, as well as a route between Montreal and the Algerian capital of Algiers.

For the coming year, Air Canada will consolidate its Indian network to Delhi Indira Gandhi International Airport (DEL) with a year-round flight from Toronto and a seasonal route from Montréal-Trudeau International Airport (YUL).

Why did Air Canada cancel the Toronto-Mumbai flight?

Air Canada is still presenting India as an important destination for the airline due to the large Indian diaspora and business connections between the two countries.

Yet the two remaining routes are a significant scale-back from the peak four flights to India from Canadian cities that it had been running in 2025 when it pinned a lot of its business growth hopes onto the Indian subcontinent.

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“With new non-stop flights from Mumbai-Toronto, the addition of new flights to Calgary from Delhi via London Heathrow, together with the unparalleled connectivity from our robust North American network, we are solidifying Air Canada as the leading airline offering the most travel options between India and Canada,” Air Canada’s Executive Vice President of Revenue And Network Planning Mark Galardo said when announcing the new routes at the time.

In 2027, the carrier hopes to redirect its Boeing 787 planes to flights to Tel Aviv (TLV) and Dubai (DXB) that it had to cancel as a result of the U.S. war in Iran. Air Canada has not commented on specific plans beyond routes that were already announced earlier in the year.

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If there’s one word that’s been a constant in the past year when it comes to design and home decor, it’s “farmhouse”. This is a style associated with traditional rural motifs, eclectic colorful botanical and geometric patterns, and laid-back cottagecore vibes. There are multiple factors contributing to the popularity of this aesthetic. That said, when you look at the state of the world right now, it’s no surprise that many people would like to turn back the clock to a simpler time. Walking into a home with warm wood-grain cabinets, cozy grandma quilts, and adorable knickknack stands just makes people feel good. 

Country-style decor hasn’t gained popularity in a vacuum. It’s part of a larger cultural movement that prioritizes authenticity over pretension and tradition over technology. It can be seen in everything from TV and movies to music and decor. In fact, country music has enjoyed increased popularity as of late thanks, in part, to this cultural shift. Additionally, political polarization, high inflation, and the volatility of the AI age have all contributed to this societal drift away from modernity and toward a simpler existence.

Fanral Tall Farmhouse Storage Cabinet

Regardless of the reasons behind the popularity of the farmhouse aesthetic, we’re on board. In fact, we’ve found a number of beautiful farmhouse items at Walmart that can transform your home into a traditional look for less. First on the list is the Fanral Tall Farmhouse Storage Cabinet. While the regular price for this pantry is $340, it’s currently just $180, thanks to a popular Flash sale. This gorgeous piece measures 71 inches tall, has one fixed and three adjustable shelves, and two large drawers. Add to that the lovely farmhouse barn doors and you’ve got a centerpiece for the kitchen, living room, or just about any other space in your home.

What makes a farmhouse storage cabinet special?

This type of storage cabinet is a great find because of its versatility. While a more modern cabinet generally looks good in a modern setting, a warm traditional farmhouse piece can blend into the background, looking more like a fixture of the home or a family heirloom than a purely functional decision. Additionally, these cupboards usually have a few different types of storage compartments, and adjustable shelves allow you to store almost any type of wares,  large or small, with minimal inconvenience. 

Most modern farmhouse cabinets are made of durable engineered wood. This makes them lighter than solid wood models, allowing you to move them around the house quickly and easily. The manufactured wood design also means that these pantries tend to be more water resistant than their wooden counterparts. This adds even more versatility, as it allows you to place them in areas such as the bathroom, where moisture and humidity could damage a lesser piece of furniture. 

More farmhouse style furniture and products

While Fanral Tall Farmhouse Storage Cabinet is a great start to your farmhouse redesign, it’s certainly not the only option. We recommend starting with a cabinet, and then design the rest of your home’s look around it. Below is a list of some of our favorite farmhouse items currently available from Walmart. From buffets to blankets and beyond, you’re sure to find plenty of traditional looks that give you that authentic down-home look and feel. 

Homfa Farmhouse Buffet Cabinet

Jessy Home Farmhouse Patchwork Quilt

Chvans Farmhouse Coffee Table

Sixhome Washable Farmhouse Rug

TheStreet Shopping is your guide for shopping insights and advice. We look beyond the price tag to find the best value in home, tech, and wellness gear based on product features and real-world use. Read more about our Editorial Standards and How We Choose Our Shopping Deals.

Traditional 401(k) plans offer an upfront tax deduction but require retirees to pay taxes on withdrawals, while Roth individual retirement accounts (IRAs) allow tax-free qualified withdrawals. However, one lesser-known account offers a tax advantage that extends through every stage of saving.

Established under Section 223 of the Internal Revenue Code (IRC), the Health Savings Account (HSA) lets eligible Americans contribute pretax money, grow investments tax-free, and withdraw funds tax-free for qualified medical expenses.

Despite this triple tax advantage, HSAs remain underused for retirement healthcare costs. Only 23% of Americans contribute to an HSA for that purpose, according to Fidelity Investments’ 24th annual retiree health care cost estimate.

For eligible workers, overlooking the account could mean missing valuable long-term savings.

Also Read: Social Security hides a double tax break inside one loss

How Section 223 stacks 3 benefits 1 one HSA

Contributions made through a cafeteria plan under IRC Section 125 bypass federal income, Social Security, and Medicare taxes, and employer HSA contributions are excluded from income under Section 106(d), according to IRS Publication 969. 

Workers who contribute outside an employer plan can still claim the full deduction on Form 1040 without itemizing other expenses.

In the account, interest and other earnings on HSA assets are tax-free while held in the HSA, the IRS confirmed.

Withdrawals used for qualified medical expenses are excluded from gross income under IRC Section 223(f)(1), so the money goes untaxed at every stage. A traditional 401(k) taxes the withdrawal, and a Roth IRA taxes the contribution, which means neither vehicle matches the HSA’s full exemption.

Steve Betts, Head of Fidelity Health at Fidelity Investments, said the account deserves a larger role in long-term retirement planning.

<strong>HSAs are more than just a short-term savings tool, they can serve as a critical component of the retirement readiness equation,</strong>

For 2026, the IRS set the HSA contribution ceiling at $4,400 for individual coverage and $8,750 for family coverage in Revenue Procedure 2025-19.

Workers aged 55 or older can add a $1,000 catch-up contribution that is fixed by statute and does not adjust for inflation, the IRC section 223(b)(3) showed.

Why most eligible workers still leave the triple benefit on the table

Fidelity’s data shows a persistent disconnect between the HSA’s design and how Americans actually use the account during their peak earning years.

Among workers aged 55 to 64, just 15% carry an HSA, even as they face growing medical costs ahead of retirement. More than half of the respondents Fidelity surveyed were unaware an HSA can be used as a retirement savings vehicle.

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An average of 73% of HSA clients across the 11 providers Morningstar surveyed use their accounts only for spending, not for investing, Morningstar’s 2025 HSA Landscape Report found.

That pattern erases the second and third tax benefits entirely, because money spent immediately never compounds and never generates a tax-free retirement withdrawal.

A 65-year-old retiring in 2026 can expect to spend an average of $185,500 on healthcare over retirement, up 7.5% from Fidelity’s 2025 estimate of $172,500, according to Fidelity.

Account holders who deplete the balances on immediate costs reach age 65 with no HSA reserve to offset that rising six-figure medical expense.

A couple’s HSA can cover nearly 17 years of Medicare premiums

A married couple with a family high-deductible health plan (HDHP) coverage can contribute $8,750 annually, and a spouse aged 55 or older adds a $1,000 catch-up for $9,750 combined. If that couple begins maxing the HSA at age 58 and continues through 64, they deposit $68,250 over seven years of tax-free contributions.

Assuming a 6% average annual return on invested HSA funds, the balance grows to approximately $82,000 by age 65, with $13,750 in tax-free gains. 

The standard Medicare Part B premium reached $202.90 per month in 2026, up $17.90 from $185.00 in 2025, the Centers for Medicare and Medicaid Services confirmed.

For a couple, that totals $4,869.60 each year, which means the $82,000 HSA balance could fund roughly 16.8 years of Part B premiums tax-free.

Medicare Part B premiums qualify as HSA-eligible expenses, the IRS Publication 969 indicates, and those withdrawals fall outside the income test for surcharges on higher earners.

Withdrawals from a traditional IRA or 401(k) count toward that threshold, potentially adding hundreds of dollars in monthly premiums for retirees above the income limit.

How workers with an HDHP can capture the full triple benefit

Workers who use their HSA to pay current bills can shift to paying routine costs out of pocket and let the balance grow, Fidelity noted. That shift turns the account from a medical spending card into a retirement asset that compounds without an annual tax drag.

A 2026 plan qualifies as an HDHP when its deductible reaches $1,700 for self-only coverage or $3,400 for family coverage, as specified in Revenue Procedure 2025-19. Catch-up contributions must flow into a separate HSA in the worker’s own name, because the IRS bars those funds from shared accounts, Publication 969 stated.

Just 3 in 10 Americans invest in their HSAs, so the majority forfeit years of tax-free growth that would offset rising retirement costs, Fidelity found. 

Whether the triple benefit belongs ahead of or alongside 401(k) and IRA contributions depends on each household’s deductible, tax bracket, and retirement timeline.

Related: IRS clock ticks down on retirees with unfinished 2026 RMDs

It makes money despite its low fares by charging passengers extra for things like luggage and seat selection (known as ancillary revenue).

However, those cheap flight tickets that made the airline so popular now face a serious test. On Oct. 20, Ryanair’s CEO Michael O’Leary warned that ticket prices across Europe could increase by 10% to 20% in 2027.

He called it the biggest airfare rise in European history, while speaking at a press conference in Brussels, Daily Mail reported.

“You’re going to see the biggest increase in airfares, I would say, in history in Europe for the next 12 months,” O’Leary said. 

Why Ryanair is bracing for a 2027 fuel shock

Airlines spend large amounts on jet fuel, and unfortunately, the prices of jet fuel have increased sharply because of the ongoing conflict in the Middle East. For most of this year, Ryanair hasn’t really been affected by the increase because it locked in 80% of the fuel its planes need at $67 a barrel until March 31, 2027, TravelWeekly reported.

Deals that lock in prices like that are called hedges, and they work like a fixed-rate contract that protects the airline from sudden price swings.

Also read: Another low-cost airline in bankruptcy, cancels all flights

Once Ryanair’s hedges expire in April 2027, the airline will have to pay the market rate at the time to get most of its fuel. And Investing.com reported that the airline has secured only 25% of its fiscal 2028 fuel needs so far at $95 a barrel. That is why O’Leary is predicting higher airfares. 

“You’re going to see airfares rise next year in Europe, I think by 10, 15, maybe 20%,” O’Leary said, according to Euronews.

How the fare hike could hit everyday travelers

The impact of the airfare increase on regular flyers is simple. A Ryanair ticket that costs €50 today could cost roughly €60 next summer at the high end of the range of increase O’Leary predicted. And because rival budget airlines will face the same fuel problem, I think baggage and seat selection fees could increase as well.

The airfare increase will not affect everyone at once. Belgium flyers will feel the impact first because, starting in January 2027, Belgium is raising its aviation tax from €2 to €7. And Ryanair is responding by cutting 20 routes and 1.1 million seats, Euronews reported.

The company also said it is moving six aircraft from the country to cheaper European markets.

How Ryanair plans to protect its margins

O’Leary admitted that even with the airline raising its fares, the increases will not fully cover its rising fuel bill. And with oil prices still fluctuating because of tensions in the Middle East, Ryanair has also held back from issuing its full-year profit guidance. The company said it lacks enough visibility to give investors a reliable number.

Ryanair is not the only airline whose hedges are set to expire next year.

“None of our competitors are well hedged either,” O’Leary said, according to the Connexion. So it is an industry-wide problem.

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That is why Ryanair is making some moves to protect its margins. The company’s management is reviewing a plan to temporarily freeze staff pay and is relying more on AI to cut office costs.

The airline is also pressing airports for lower fees. The fuel hike pressure has already shown up in the company’s numbers. In the first quarter that ended June 30, 2026, Ryanair’s profit fell 34% to €538 million due to the remaining 20% of its fuel costs that remain unhedged and lower fares, the Irish Times reported.

What RYAAY investors should watch next

Ryanair has good cash flow and very little debt, which puts it in a better position than most of its rivals going into the unhedged period. The company’s financial cushion should keep it operating normally even when smaller airlines are forced to cut back or even shut down.

The key date for investors to watch is April 2027, when Ryanair’s hedge deals run out.

If oil prices drop before then, Ryanair raising ticket prices could boost the company’s profits. If oil prices stay high until then, some weaker airlines may fold, which could leave Ryanair as the biggest player in the European market.

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Why we love this deal

If you want to gift a practical winter accessory this holiday season, a classic scarf is the superior selection. Beanies and knitted caps are too casual to wear at the office, and mittens aren’t really necessary once you’re indoors. A stylish scarf, on the other hand, can be worn all day comfortably with all kinds of tops, like blouses or a sweater, serving as an adornment that elevates your attire. You can also wear it the traditional way, with your coat or jacket to block out the chilly wind. 

The Cooplus 3-Pack of Plaid Winter Scarves is an exceptional choice for gifting or adding to your own closet, especially while it’s 46% off with a weekly Flash deal. The trio of plaid scarves is now available for only $15, and it comes in three trendy combinations, whether you want red Christmas-inspired hues, neutral autumn shades, or sophisticated blue tones. 

Cooplus 3-Pack of Plaid Winter Scarves – A, $15 (was $28) at Walmart

Cooplus 3-Pack of Plaid Winter Scarves – B, $15 (was $28) at Walmart

Cooplus 3-Pack of Plaid Winter Scarves – C, $15 (was $28) at Walmart

Why do shoppers love it?

Featuring a timeless plaid print, these cozy scarves are a simple way to upgrade your look before heading out the door. Measuring 79 inches long by 15 inches wide, the scarves are just the right size. They aren’t oversized and bulky, but they’re still plenty long enough to wrap around your neck or to tie into a sleek knot. Even more charm is added to the design with a tassel fringe that dances in the breeze. Plaid isn’t just a classic pattern that will never go out of fashion. The print is a versatile choice that pairs with almost any solid color, and even other subtle prints if you style it right.

Related: Columbia’s popular fleece jacket is $46 in 13 colors at Macy’s

Crafted with a premium acrylic yarn, these scarves are gentle against your skin and feel soft to the touch. The cozy softness is great for wrapping up in, but the lightweight material won’t feel heavy at the end of the long day. It also provides the perfect amount of warmth, so you’re comfortable on chilly days, but won’t overheat if you want to wear it indoors, like when you’re grabbing dinner with friends after work. One shopper reported that the “scarves are very soft and warm.” As a bonus, the fabric is machine washable, so you can throw it in the wash once it ever needs refreshing. 

Details to know 

• Dimensions: The scarf measures 79 inches long by 15 inches wide.
• Material: Acrylic yarn.
• Colors: All three colorways are on sale for $15.
• Average shopper rating: 4.8 out of five stars.

An impressive 90% of shoppers have given these winter scarves a perfect rating. “Because of the price, I wasn’t expecting these scarves to be as nice as they are,” wrote one shopper. They added, “I’m pleased with them, and I’m sure I’ll get lots of wear out of them this fall and winter.”

Shop more deals

• Redess Large Plaid Winter Scarf, $11 (was $26) at Walmart
• Cooplus Winter Beanie, Scarf, and Gloves Set, $17 (was $28) at Walmart
• Cooplus Winter Knit Set, $14 (was $28) at Walmart

The Cooplus 3-Pack of Plaid Winter Scarves is a cozy winter accessory that’s a practical addition to any wardrobe. Keep one for yourself and gift two as thoughtful holiday gifts while they’re on sale for just $15.

Although the pace of modern life makes maintaining that balance quite challenging, those who truly want it find a way, while those who don’t want it enough find an excuse.

The 24-year-old gym giant Anytime Fitness was built trying to limit those excuses as much as possible through its 24-hour availability and accessibility in multiple countries. In February 2026, the “Let’s Make Healthy Happen” chain announced that it had opened more than 365 gyms worldwide during 2025. 

Anytime Fitness now boasts more than 6,000 locations worldwide and is promoting international expansion. At the same time, its U.S. franchised location count has reportedly declined for three consecutive years.

For members at some local clubs, that decline is no longer just a number.

Anytime Fitness has been closing gyms over the past couple of years 

According to the 2026 Franchise Disclosure Document (FDD), its franchised U.S. location count fell from 2,318 to 2,271 between the start of 2023 and the end of 2025. That’s a net decline of 47 locations in three years.  

Moreover, during those three years, Anytime Fitness added 146 franchised U.S. locations, while 193 left the franchise system through terminations, non-renewals, and other departures.

The data suggests that, despite ongoing consumer demand as supported by latest industry data from Health and Fitness Association (HFA), the brand’s global success doesn’t necessarily mean every individual location is doing well. 

“A multi-brand parent can spread risk, but an individual franchisee doesn’t have that luxury. They own a gym, and that gym has to make money,” franchise attorney Beverly Bradshaw recently told Inc. Magazine.

These Anytime Fitness locations are closing or have already closed in 2026

Some of the latest closures are already visible at the local level. According to Inc.’s Nov. 2, 2026, report, three locations are closing, one has already closed, and one is relocating.

Anytime Fitness didn’t immediately respond to Inc.’s request for comment.

2026 Anytime Fitness closures and relocations

• Closed (April 2026): 1726 S. Division Street, Guthrie, OK
• Closing: 1064 Cypress Parkway, Poinciana, FL
• Closing: 1862 S. West Avenue, Freeport, IL
• Closing: 1417 Coshocton Avenue, Mount Vernon, OH
• Relocating (tentative): From 9529 Braddock Road to 10621A Braddock Road, University Mall, Fairfax, VA

What Anytime Fitness customers should know if their gym closes

If your club is on this list, or you’re worried yours could be next, you may still have options. The chain allows members to access other Anytime Fitness locations nationwide and internationally, meaning customers may be able to continue working out at a nearby club.

Membership transfers are also permitted without a transfer fee, although changing the home gym could affect monthly dues. However, cancellation policies, contract terms, and potential termination fees vary by location because each club is independently owned and operated.

Customers who have prepaid for memberships should contact their home club to clarify whether they qualify for a refund or transfer. Anytime Fitness does not publish a universal refund policy specifically for gym closures, so members should review their membership agreements and request written confirmation of any changes to their payments or contracts.

Members can find more information in the company’s official membership FAQ. 

Why are Anytime Fitness locations closing?

So why are franchisees leaving the system? Running an Anytime Fitness gym comes with substantial financial commitments.

According to the company’s 2026 FDD, franchisees face monthly royalty, advertising, and technology fees, in addition to rent, employee wages, utilities, and equipment expenses.

Commercial leases and financing obligations can make the situation even more challenging. Bradshaw also told Inc. that leaving the franchise does not necessarily mean leaving behind those financial commitments. Franchisees may still be responsible for leases, loans, and personal guarantees.

In addition, revenue varies significantly between individual locations. The 2026 FDD shows that the 1,683 franchised gyms included in its financial performance disclosure reported average annual revenue of $446,814, while the individual range was $90,337 to $2,048,737. 

These figures represent revenue, not profit, and illustrate the differences in financial performance across the network.

U.S. gym membership is at a record high, but some Americans are cutting back 

These closures are coming as the chain expands internationally. But the challenges facing individual franchisees are not necessarily unique to the chain, and broader industry figures suggest gym operators are navigating an increasingly complicated consumer market. 

In 2025, about 81 million Americans belonged to a gym, studio, or other fitness facility, making it an all-time high and a 5.2% increase from 2024, according to HFA’s 2026 U.S. Health & Fitness Consumer Report.  

“Even in an uncertain economy, people keep going to the gym because they see real value in what these spaces provide,” stated Anton Severin, vice president of research at HFA. 

The report also revealed that Americans made nearly 7 billion visits to gyms, studios, and health clubs, and only 4.6% did not use their membership at all, which is considered an all-time low. 

HFA found that 49.4% of gym members meet federal aerobic activity guidelines, compared with just 24.5% of Americans who don’t use fitness facilities, suggesting a link between gym membership and meeting activity guidelines.

However, YouGov’s September 2026 survey reveals another side of the story. Among Americans who do wellness activities, 31% are spending more and 13% are spending less. 

Cost remains a concern, as 13% had reduced or stopped paying for gym memberships over the previous year, the same share who cut spending on fresh fruit and vegetables. 

These findings suggest that while Americans continue to prioritize wellness, some are becoming more selective about what they spend on.

A 2026 survey found that 26.9% of sports and fitness participants said out-of-pocket costs had affected their participation, while 30.2% reported higher costs than a year earlier, according to the Sports & Fitness Industry Association (SFIA).

Among those affected by rising costs, nearly one-quarter said they were very unlikely to continue their current activities if expenses increased further.

“Rising costs are already affecting how some Americans participate, making affordability and access increasingly important as our industry works to turn today’s momentum into sustained engagement,” said Alex Kerman, senior director, head of research for SFIA. 

Anytime Fitness is not the only gym chain facing closures

Other chains are feeling the pressure, too.

As I recently reported, Planet Fitness appears to have a new customer problem. The budget-friendly gym giant has faced slower membership growth and changing consumer expectations. It plans to close five locations across the country.

Other fitness chains have faced even bigger setbacks. Blink Fitness filed for Chapter 11 bankruptcy in August 2024, seeking a buyer after struggling with the financial fallout from the Covid pandemic.

PureGym eventually acquired its corporate operations and a significant number of locations for $121 million, but five gyms were permanently closed after negotiations with landlords fell through.

The pandemic also pushed 24 Hour Fitness and Gold’s Gym into Chapter 11 bankruptcy in 2020. Gold’s Gym said it had to permanently close approximately 30 company-owned locations as part of its restructuring.

Related: Thousands of Publix shoppers angry over its prices

Dan Ives, technology analyst at Yorkville Ives & Co., recently sat down with TheStreet’s Caroline Woods to explain why Salesforce and ServiceNow are among the companies best positioned to continue benefiting from the AI revolution, while other software companies may be in for more turbulence.

Don’t get us wrong; Ives remains bullish on the broader AI boom, pointing to strong cloud results and continued spending by tech giants as evidence that demand remains strong. However, he also recognizes that AI is disrupting traditional business models across industries, including software, cybersecurity, memory chips, and digital advertising.

Ives believes Salesforce and ServiceNow have an important advantage: established customer bases that afford them opportunities to introduce new AI products and generate additional revenue.

While recent volatility has rattled technology stocks, Ives believes investors should focus on companies that can turn their AI investments into sustainable revenue rather than selling everything simply because share prices have fallen.

Here’s why Ives believes Salesforce and ServiceNow could emerge as long-term AI winners, which other companies he considers vulnerable, and what investors should look out for as the AI boom continues.

Why Salesforce and ServiceNow may have an AI advantage

For Ives, one of the biggest advantages Salesforce and ServiceNow have is their “installed customer bases,” meaning the businesses already using their products.

Both companies provide software that businesses rely on every day, giving them an established audience for new AI features. Ives believes those existing customer relationships could make it easier to introduce AI tools and generate additional revenue.

I think install base is what separates companies, and they’re going to be able to monetize their AI platform. I believe Salesforce is one. They were late to the game, but they’re going to be able to monetize it. ServiceNow, same thing.

Dan Ives, when asked why Salesforce and ServiceNow could be AI winners rather than victims

Ives’ point challenges the idea that the first company to introduce an AI product will necessarily be the most successful. A later entrant may still have an advantage if it can offer useful tools to a large, established customer base.

For Ives, Salesforce and ServiceNow are important barometers of whether enterprise software companies can successfully turn their AI investments into revenue.

But having a large customer base doesn’t guarantee success, either.

Ives identified Adobe and Intuit as two software companies he considers more vulnerable to AI disruption. He believes AI is cannibalizing parts of Adobe’s markets and suggested that the next six to nine months could reveal whether the company’s new leadership and strategy can improve its position.

How can investors tell if AI spending is paying off?

Ives looks beyond a company’s AI press releases to measurable results, including cloud growth, data-center construction, capital expenditures, and customer use cases.

Capital expenditures, often shortened to CapEx, are a company’s investments in long-term assets such as data centers and computing equipment. Cloud demand and growing customer adoption of AI applications could provide more concrete evidence that infrastructure spending is actually producing a return.

But timing matters. Ives said companies have roughly a six-month window to show that they can monetize AI as investor patience wears thin and credit spreads, which reflect the additional borrowing costs for riskier companies, widen.

While that timeframe is an estimate rather than a firm deadline, it reflects growing pressure on tech companies to show that their investments can generate revenue.

Ives also believes investors should monitor whether AI use cases continue to expand at Palantir and Snowflake, in addition to Salesforce and ServiceNow.

Those companies could provide important clues about whether the broader AI spending boom is translating into sustainable business opportunities.

Why chips, software & neoclouds carry different risks

Ives currently sees more upside in semiconductor stocks than software companies, although he expects software monetization to become a bigger story in 2027.

He named Palantir, Snowflake, MongoDB, and Datadog as software companies that could benefit from the continued AI buildout.

However, he sees greater risk in neoclouds, or newer cloud computing providers built around AI infrastructure.

Ives believes these companies would be particularly vulnerable if AI demand grows more slowly than expected. He anticipates a shakeout in the sector and prefers Nebius NBIS over CoreWeave CRWV, although he also expects CoreWeave to survive over the long term.

Oracle faces a different challenge: financing its AI ambitions without weakening the business. Ives removed Oracle from his “AI 30” list after concluding that staffing cuts and debt taken on to pursue the OpenAI opportunity could negatively affect its core operations.

After all, growing demand for AI infrastructure does not mean success is guaranteed. Companies must also manage their balance sheets, control costs, and maintain their current businesses.

The takeaway for AI investors

When evaluating AI stocks for your portfolio, consider whether you’re looking for long-term, buy-and-hold exposure to established AI leaders or more speculative positions tied to infrastructure demand.

Ives favors companies that can monetize AI through existing customers and measurable demand, rather than those relying on expectations of future growth.

Investors should also pay attention to upcoming earnings reports, particularly cloud growth, data-center investments, customer adoption of AI products, debt levels, and whether AI products are actually producing a return on investment.

Ultimately, Ives believes the AI revolution will create significant opportunities for investors — but not every company will emerge as a winner.

Sources

Dan Ives on Street Talk · watch the full segment

Cited segments:

• Ives said Salesforce and ServiceNow can monetize AI because of their installed customer bases. (3:48–4:50)
• Ives identified Adobe and Intuit as software companies that are relatively vulnerable to AI disruption. (2:41–3:44)
• Ives said companies have roughly a six-month window to demonstrate AI monetization. (17:05–17:23)
• Ives said he sees more upside in chips now and expects software monetization to become a larger story in 2027. (5:17–5:54)
• Ives said neoclouds are most vulnerable if AI demand does not materialize as quickly as expected, and he prefers Nebius to CoreWeave. (7:42–8:31)
• Ives removed Oracle from his AI 30 list over concerns about cuts, debt, and the possible effect on its current business. (6:36–7:40)

Some or all of this content may have been generated by AI. While we strive for accuracy, AI can occasionally produce incorrect information. If you buy something via one of our links, we may earn a commission.

But lately, these routine purchases have started to involve some math. I found myself, for the first time in years, quizzing my wife about whether the larger pack is cheaper. Also, could the smaller one stretch the budget until payday? 

Those are the decisions Clorox (CLX) CEO Linda Rendle says shoppers are making.

During the company’s Nov. 2 earnings call, Rendle described consumers seeking value, while the makers of Glad trash bags, Clorox bleach, and Hidden Valley Ranch are facing higher costs for materials and transportation.

Clorox has already bumped prices on some products and sees more pressure ahead.

That’s what makes this bigger than one company’s earnings. Americans are watching their spending, just as everyday household essentials become harder to produce cheaply.

Clorox CEO sees a troubling change in how Americans shop

Clorox CEO Linda Rendle described a shopper who’s getting more selective.

“Consumers continue to seek value,” Rendle told analysts during the company’s Nov. 2 earnings call.

That shows up in everyday decisions. Asked how demand was holding up, she pointed to “lots of value-seeking behavior, buying larger sizes, smaller sizes, delaying purchases, et cetera.”

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The differing viewpoints have something in common.

A family like mine that’s buying a larger package is trying to reduce its per-use cost. Another buying the smallest size may simply need to keep today’s checkout bill down.

And Rendle said back-to-school purchases shifted later, forcing Clorox to rethink when shoppers would actually show up.

But consumers aren’t the only ones doing the math.

Chief Financial Officer Luc Bellet said Clorox now expects about $240 million in input-cost inflation this fiscal year, $40 million above its previous estimate and roughly 2.5 times its historical annual average.

Rising costs span resins used in plastic products, other commodities, shipping, and logistics.

Bellet stressed that these pressures extend beyond oil, complicating any hope of quick relief.

Some of that pressure has already reached shoppers. Clorox raised prices on Glad trash bags by a high-single-digit percentage in July, a change Rendle said was already appearing in sales data by late September.

And more increases may follow.

“It’s logical to assume that we will take additional pricing in the back half,” Rendle said.

That is the squeeze facing the household-goods industry, where companies need to recover higher costs without pushing budget-conscious shoppers to cheaper alternatives.

Inflation and consumer spending data reveal a broader problem

Interestingly, Clorox isn’t the only household name struggling with the cost of making everyday products.

On Oct. 22, Procter & Gamble, maker of Tide, Pampers, and Charmin, warned that rising raw-material, energy, and transportation expenses could create a $1.4 billion after-tax commodity-cost headwind in fiscal 2027.

PepsiCo offered another warning in October. Its North American food volumes were flat, while beverage volumes fell 2% as higher costs and cautious demand complicated the company’s recovery.

When you throw in government data, it puts these corporate concerns in perspective.

The Consumer Price Index rose 3.7% in September from a year earlier, up from 3.4% in August, according to the Bureau of Labor Statistics. Producer prices climbed 6.3% over the same 12-month period, indicating substantial cost pressures throughout the economy.

But the most telling figure comes from household spending.

The Bureau of Economic Analysis reported that Americans spent 0.5% more in September, yet inflation-adjusted consumption was essentially unchanged, as reported by Reuters. Real disposable income, which accounts for taxes and rising prices, fell 0.3%.

In other words, a bigger bill didn’t mean more in the shopping cart.

That said, not every manufacturer is losing ground. Colgate-Palmolive improved gross margin by 0.8 percentage points despite higher raw-material costs, while Church & Dwight expanded its margin by 1.7 points.

To me, the troubling signal isn’t rising costs alone. It’s manufacturers looking to recover those costs from shoppers who have a diminishing ability to pay more.

What Clorox’s warning means for prices and CLX stock

The next test for Clorox involves the strength of its brand equity, shoppers will keep choosing its brands when cheaper alternatives sit on the same shelf.

Management is considering more selective increases, but charging consumers isn’t its only option. Cost savings and product improvements could help protect margins. In cat litter, Clorox has even lowered certain prices to regain shoppers.

Investors should look beyond the headline 33% quarterly sales increase. Roughly 15 percentage points came from the GOJO acquisition, while much of the remaining organic growth reflected an unusually weak year-earlier comparison following a software transition.

Excluding that comparison, Clorox expects underlying organic sales growth of just 0% to 1% for the fiscal year.

For shoppers, the practical moves are comparing prices per bag or ounce, not just package prices, and watching for changes in promotions. For shareholders, the important signals are sales volumes, market share, and gross-margin recovery, rather than revenue growth alone.

Clorox’s experience doesn’t prove the economy is heading for a downturn. It does, however, reveal an uncomfortable risk: Companies may need higher prices just when customers are least willing to accept them.

Related: Jim Cramer explains the ‘AI cheat code’ driving Apple stock higher

The media giant revealed in its latest earnings report that it lost 144,000 U.S. broadband customers and 274,000 U.S. cable TV customers in the third quarter of this year. Meanwhile, its domestic broadband revenue declined 4.7% year over year, while cable TV revenue dropped 8.7%. 

After an Oct. 21 Bloomberg report revealed that Comcast was planning “a significant number of job cuts” in its broadband, cable TV and wireless businesses, Comcast President Mike Cavanagh addressed upcoming operational changes on an earnings call a day later. 

“The competitive environment demands that we execute at a higher level, move faster, and operate more efficiently,” said Cavanagh. “…We’re taking decisive steps to change how we operate, structurally improve our cost base, and create greater capacity to invest in growth.”

Comcast moves ahead with layoffs

Amid this shift, Comcast has begun conducting layoffs in several states, impacting hundreds of employees.

Comcast said that starting on Dec. 31, it will be laying off 159 employees at several regional offices in Washington state, according to a WARN notice it filed with the state Employment Security Department on Oct. 29. 

“Comcast is fundamentally redesigning our organization to build a more agile company and better serve our customers,” wrote the company in the WARN notice. “These changes will help us accelerate innovation and compete more effectively in a rapidly changing industry.”

It also said that it will be “posting more than 1,100 new positions across the company,” and will be working with each of its affected employees to “consider them for these and any other open positions.”

Read more: Comcast makes significant shift as customer losses mount

In another WARN notice recently submitted to the Pennsylvania labor department, Comcast said it will lay off 634 employees at its Comcast Technology Center in Philadelphia, beginning Dec. 31.

According to a recent report from Philly Voice, Comcast is allowing affected employees in Philadelphia to remain in their eliminated positions until Dec. 31, 2027, in some cases. Also, the company said it will try to place impacted Philadelphia employees in open positions or one of the roughly 500 new roles it plans to add at two of its corporate towers in the city. 

Comcast has also recently filed a WARN notice with the New Jersey labor department, revealing that it will cut 119 jobs at several locations in New Jersey, with the change taking effect on Jan. 27, 2027.

Additionally, the media giant is reportedly laying off 82 employees in California, according to a recent report from The Philadelphia Inquirer. 

Comcast layoffs reflect wider telecom workforce shift

The layoffs from Comcast come after Jason Armstrong, its chief financial officer, said on the Oct. 22 earnings call that the company expects to record a charge of more than $1 billion in the fourth quarter of this year tied to its cost-cutting and operational transformation actions.

As Comcast reshapes its workforce, it will also be increasing its use of artificial intelligence. 

“We’re bringing in new technology leadership to increase the pace of innovation,” said Armstrong. “AI is already embedded across our network to optimize performance, and we’re expanding its application across customer experience through partnerships with Sierra and Cresta.”

Comcast’s job cuts also come as it prepares for a major leadership transition. Michael Angelakis is set to take over as CEO of the company’s remaining broadband, cable TV, and wireless businesses following the planned 2027 spinoff of NBCUniversal and Sky.

More Telecom News:

• Spectrum faces new customer problem after Cox acquisition
• T-Mobile excludes 2 generous customer perks from new phone plans
• Comcast eyes acquisition of 33-year-old rival amid struggles

Comcast isn’t the only telecom company that has conducted layoffs this year. Spectrum, for instance, laid off 313 employees in March after shutting down a call center facility in Wisconsin. It later laid off an additional 107 employees in September after discontinuing the operation of its network operations center in Missouri.

T-Mobile has also recently been making cuts to its workforce. Deutsche Telekom, which owns T-Mobile, revealed in its second-quarter 2026 earnings report that the carrier had 70,036 U.S. employees on Dec. 31, 2025, and that number dropped to 65,365 by June 30, “primarily due to the impact of the 2025-2026 Workforce Transformation.”

Meanwhile, Verizon cut hundreds of jobs nationwide in May, and laid off over 3,000 workers in August. In June, AT&T reportedly conducted layoffs across multiple departments.

According to recent data from Challenger, Gray & Christmas, 573,195 layoffs have been announced in the U.S. between January and September 2026, with the telecom industry announcing 7,446 layoffs in this period. 

Matt Walker, chief analyst at MTN Consulting, revealed in a recent analysis that global telecom workforce headcount has been shrinking due to “layoffs, retirement, and attrition” for years. 

He also said that “the workforce profile” in the telecom industry keeps evolving, “with demand shifting toward software, cloud, AI, and quantum-computing skills.”

“Global telco headcount fell 2.1% year over year in 2Q26 (the second quarter of 2026),” said Walker. “That is not new – it has fallen every quarter since 2019, and this is in line with the historic decline. What changed is the reason: operators are now citing AI and automation deployments directly when they explain the cuts, not just cost discipline.”

Related: Spectrum faces new customer problem after Cox acquisition

The ongoing restructuring could leave luxury shoppers with fewer opportunities to visit some of their favorite brands in person, particularly in markets where the company is reducing its presence.

Founded in 1963, Kering is the French multinational luxury goods group behind some of the world’s most recognizable high-end brands, including Gucci, Saint Laurent, Bottega Veneta, Balenciaga, and Alexander McQueen.

Kering closes 128 stores across its brands

Kering completed 128 store closures and 23 openings in the first nine months of 2026, ending with 105 net store closures, according to its latest financial results.

The company finished the third quarter of fiscal 2026 with 1,614 directly operated locations.

Kering surpassed its original full-year target of 100 net store closures ahead of schedule. As a result, the company raised its 2026 target to at least 125 net store closures, signaling that further reductions are expected before the year ends.

Read more: Another mattress chain files Chapter 11 bankruptcy

Most of the closures occurred in the Asia-Pacific region across its Fashion and Leather Goods division, with Gucci accounting for the largest number of shutdowns among Kering’s brands, according to the company’s third-quarter revenue presentation.

The latest reductions follow 75 net store closures in 2025, highlighting Kering’s ongoing efforts to streamline its retail network.

“We keep focusing on maximizing the productivity and appeal of our existing network with store refurbishments, strengthening the expression of each house, and elevating the client experience,” Kering CFO Armelle Poulou said during the company’s latest earnings call.

Poulou explained that Kering has been cautious about communicating its store closure figures because some shutdowns depend on lease exit negotiations. The company has also closed certain locations before their leases expire.

The restructuring is weighing on revenue. Poulou estimated that store closures represented a one-percentage-point headwind to sales in the first half of 2026, before accounting for sales recaptured elsewhere, and that the impact would reach two percentage points in the second half.

Kering struggles to revive luxury brands

Kering’s store reductions come as the luxury group continues to navigate financial challenges across several of its brands.

During the third quarter of fiscal 2026, Kering reported revenue of approximately €3.3 billion, down 1% on a comparable basis year-over-year.

Its Fashion and Leather Goods division, which includes Gucci, Saint Laurent, Bottega Veneta, and Balenciaga, recorded a 3% comparable revenue decline. Gucci remained a significant source of pressure, with comparable revenue falling 6%.

As Kering’s largest fashion house, Gucci is a central focus of the group’s turnaround efforts.

The company’s directly operated retail network, including e-commerce, recorded a 3% comparable sales decline. Meanwhile, wholesale and other revenue increased 3%, according to its financial results.

During the earnings call, Poulou acknowledged that the company’s performance was not where management wanted it to be. She outlined three priorities Kering is pursuing to improve its business:

• Rebuild Gucci’s desirability: Renew its creative direction, increase marketing investment, strengthen client engagement, and improve retail performance.
• Revitalize China: Give local teams more decision-making power, tailor products and campaigns to Chinese consumers, and optimize the store network.
• Improve products and efficiency: Simplify product offerings, upgrade quality, reduce inventory, strengthen operations, and cut costs while maintaining investments in its brands.

These initiatives are part of a broader turnaround effort aimed at improving brand appeal, strengthening customer relationships, and making Kering’s operations more efficient.

Fashion industry faces ongoing headwinds

Kering is not the only luxury company facing challenges as fashion retailers navigate a prolonged industry slowdown.

McKinsey & Company’s State of Fashion 2026 Report projects low-single-digit growth for the global fashion industry in 2026.

Macroeconomic volatility and tariff pressures are expected to continue influencing consumer behavior, especially as shoppers become more cautious about discretionary spending. In the U.S., consumer sentiment also remained low throughout 2025.

As luxury brands face pressure to restore growth and improve profitability, shoppers could see more changes to store networks as companies prioritize their strongest markets and locations.

Here’s some of my previous coverage of luxury store closures:

• Capri Holdings: Closed 41 locations across its brands in the year ending June 27, 2026.
• Prada Group: Closed 10 Versace stores since the end of 2025 and plans to shutter more locations while relocating select boutiques to stronger markets in 2026 and 2027.
• Ferragamo: Closing roughly 70 stores between 2025 and 2026.
• Burberry: Closed 21 locations during fiscal 2026.
• Tapestry: Closed 64 directly operated stores during fiscal 2026.
• Zegna Group: Closed 14 stores during the first half of fiscal 2026.

Related: Luxury giant to close more than 200 stores after sales drop

Why we love this deal

Having the right lighting in your home’s backyard is more important than you may realize. Not only does it set the mood, but a good set of string lights can also help boost your property’s overall security. If you’re lucky enough to find a set of solar-powered lights, then they can also save you a bit of money. That’s because you won’t have to spend extra on your monthly electricity bill as you would with standard plug-in lights. We found a set of lights at Amazon that’s half off right now, and we think this deal is a shining beacon for smart shoppers.

If you’re looking for a great set of lights at a discount, then the Btfarm Crystal Globe String Light 2-Pack is the right choice. Although it’s only $7 off, finding a set of solar lights for under $20 is a steal in itself. 

Btfarm Crystal Globe String Light 2-Pack, $19 (was $26) at Amazon

Why do shoppers love it?

These string lights offer a totally new look and feel for your backyard and patio, which is a tall order for a $13 product. However, they pass the test with flying colors, thanks to solid construction, convenient technology, and great looks. The strings and lights are made of a rubberized polyurethane that’s able to withstand year-round exposure to the elements. The lights have an IP65 waterproof rating, making them a great option for 24/7 year-round use. Each of the two included strings is 49 feet long and has50 bulbs on each string. It’s a great set for lighting up your entire patio in a hurry.

In addition to the solid build quality of these string lights, they’re a great example of easy-to-use patio tech. Both strings come with their own small solar panel that gets staked into the ground. They include an 8-foot wire as well, so it should be easy to find a place on the ground for each panel. The panels gather energy from the sun throughout the day and use it to power the lights all night long. The bulbs can stay lit for up to 10 hours on a single day’s charge. That’s enough to make it all the way to sunrise on most nights. They have eight different lighting modes, so you can switch between them easily, depending on your specific needs that night.

The LED bulbs have a pleasant warm glow, unlike many fluorescent-style LEDs that come with lesser products. Each bulb housing has an attractive shatter effect that diffuses the light and makes the set look far more expensive than it is. This is the epitome of mood lighting, and knowing that you got them for 50% off won’t hurt your mood either. The set is available in three colorways, including the aforementioned soft white, multi-colored, and blue. 

Related: Walmart’s $36 6-pack of solar ground lights lasts up to 20 hours

Amazon shoppers were thrilled with the quality of these string lights. One called them “exactly what I was looking for,” before praising the “perfect sized bulbs” and the fact that they’re “solar powered.”

Shop more deals 

• Lifx Smart Outdoor String Lights, $99 at Amazon
• Enbrighten Eternity Permanent Outdoor Lights, $282 (was $350) at Amazon
• Govee Outdoor Pathway Lights 2 Lite, $170 at Amazon

If you want to turn your backyard or patio into a beautiful fairy garden, then the Btfarm Crystal Globe String Light 2-Pack can make it happen. If you buy them now, you can get them for just $19.