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Trump is tying trade policy directly to his demand for lower interest rates, even as August hiring stays firm and inflation keeps the Fed cautious.

Elsewhere, the Pentagon is set to take over major NIH research programs, Sara Duterte faces arrest, and the Williams sisters reunite in New York.

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The Big Read

Trump Threatens Trade Halt Unless Fed Cuts Rates

President Trump threatened to halt trade with countries where the US runs a deficit unless the Federal Reserve cuts interest rates, escalating a months-long pressure campaign against Chair Jerome Powell. The threat lands as the White House has already leaned on the central bank through public attacks, staffing fights, and legal challenges to Fed independence.

Markets absorbed the comments with a shrug, but the implications for global trade are considerable given the US runs deficits with dozens of major partners including China, Mexico, Germany, and Japan. Fed officials have signaled rate decisions will follow the data — inflation is still running hot — not political demands.

Hiring Holds Steady as Economy Adds 162,000 Jobs

Employers added 162,000 jobs in August and unemployment held at 4.1%, painting a picture of a labor market that refuses to buckle despite sticky inflation and elevated borrowing costs. Wage growth came in slightly above expectations, giving the Fed one more reason to hold off on the cuts Trump is demanding.

The report cuts both ways politically: steady hiring undermines the case for emergency rate cuts, while households squeezed by prices see little relief. Consumer sentiment remains soft even as the payroll numbers hold up.

The Pentagon Moves to Take Over Hundreds of Millions in NIH Research

A new agreement clears the way to shift NIH projects worth hundreds of millions of dollars to the Department of Defense. Programs leaving the National Institute of Allergy and Infectious Diseases amount to one of the largest redirections of US biomedical funding in years.

Researchers at that institute have carried the country's core infectious-disease portfolio for decades, from vaccine pipelines to outbreak surveillance. Moving the money under Defense changes who sets the priorities, who reviews the grants, and how much of the work stays public.

World View

Kushner and Witkoff Head to Moscow and Kyiv

Jared Kushner and Steve Witkoff will travel to Russia and Ukraine next week to meet Presidents Vladimir Putin and Volodymyr Zelensky in a bid to restart stalled peace negotiations. The trip comes as front-line fighting has intensified and previous US-brokered frameworks have failed to produce a durable ceasefire.

Philippine Vice President Ordered Arrested Over Threats

A Manila court ordered the arrest of Vice President Sara Duterte over public threats she made against President Ferdinand Marcos Jr., escalating a bitter feud between the country's two most powerful political dynasties. A trial could scramble her expected 2028 presidential run and reshape the Philippine political map.

US Sanctions Turkish Bank Over Iran Ties

The Treasury sanctioned a Turkish bank accused of helping Iran evade oil-revenue restrictions, even as Treasury Secretary Scott Bessent said he hopes no further bank penalties will be needed. Trump earlier billed the broader sanctions push as "economic D-Day" against Tehran, though implementation has been slower than the rhetoric.

Need To Know

Supreme Court Backs GOP in Political Ad Rate Fight

The Supreme Court sided with Republican groups seeking to let political parties buy TV ads at the same low rates currently reserved for individual candidates. The ruling could erode a fundraising and airtime advantage Democrats have leaned on and reshape spending in the 2026 midterms.

Trump Administration Subpoenas Nevada Voter Data

Federal officials issued subpoenas for Nevada voter data as part of an expanding effort to substantiate the president's claims of widespread voter fraud, claims courts and state officials have repeatedly rejected. Nevada is a perennial swing state and a legal battleground for election-integrity fights.

Veterans Sue to Halt Trump Arch Excavation

Interior Secretary Doug Burgum said excavation for a planned Trump arch near the National Mall will begin within two weeks without sign-off from a key federal review body. Veterans groups have sued, asking a judge to block ground-breaking on land they say carries protected commemorative status.

Money & Markets

Tesla Slides 6% After Cybercab Reveal Flops

Tesla shares fell 6% after a Cybercab update that Wall Street called underwhelming, compounded by a fresh NHTSA probe into the robotaxi program. The stock has now given back much of its summer rally as skepticism builds around Elon Musk's autonomy timeline.

401(k) Millionaires Hit a New All-Time Record

Fidelity reported a record number of 401(k) millionaires in the second quarter as retirement balances held at all-time highs, buoyed by steady contributions and equity gains. The milestone lands even as households report persistent anxiety about the broader economy.

Smart Ring Maker Oura Files to Go Public

Finnish smart ring maker Oura filed to list on a US exchange at an expected valuation above $11 billion, riding a wellness-tracking wave with celebrity users from Prince Harry to Kim Kardashian. The IPO would be one of the year's larger consumer-tech listings.

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Future Frontiers

First Heat-Powered Cooling System Works in Lab

Researchers unveiled the world's first heat-driven elastocaloric cooling system, a design that uses waste heat and solar energy to produce cold without an electric motor. If scaled, it could recycle industrial and solar heat into refrigeration and slash the electricity load of global air conditioning.

UN Approves New World Map Redrawing Africa

The United Nations adopted the Equal Earth projection as its official world map, replacing the centuries-old Mercator design that critics say visually shrinks Africa. The switch, championed by African delegations, restores continents to their true relative sizes on UN documents and displays.

Micron Bets Big on AI Memory Chips

Micron is expanding production of high-bandwidth memory, the pricier AI-grade chips in short supply as data centers race to build out. The pivot could widen margins and put Micron in closer competition with SK Hynix and Samsung.

The Score

Venus and Serena Reunite Their Doubles Team at the US Open

Venus, 46, and Serena, 44, reunited their doubles team at the US Open after years apart in the format that first made them famous. Serena's daughter pushed hardest for the reunion, putting the most decorated sister act in tennis back on one side of the net.

Zverev Survives a Second Straight Five-Set Scare

Alexander Zverev needed five sets and more than four and a half hours to get past Quentin Halys in the second round. No top-seeded man has gone the distance twice this early in New York, and Zverev's draw only gets heavier.

WNBA Commissioner Cathy Engelbert Will Retire in December

Cathy Engelbert will retire as WNBA commissioner in December, closing a tenure that grew the league and strained it in equal measure. Expansion, record ratings and a bitter labor fight all landed on her desk within the same short stretch.

MLB Sets Spring Training Even as the CBA Stays Unresolved

Baseball set spring training to open Feb. 19, 2027, with the entire schedule explicitly conditioned on labor peace being reached. Owners and players still have no new collective agreement, so that date functions as a deadline dressed up as a calendar.

Life & Culture

Prime Video Cancels 'Spider-Noir' After One Season

Amazon canceled "Spider-Noir" after eight episodes, ending Nicolas Cage's first regular TV role even as the show heads into Emmy weekend with 11 nominations. The MGM+/Prime Video series was a rare live-action Spider-Man project outside the Sony-Marvel film pipeline.

John Malkovich Eyes First Oscar in 30 Years

John Malkovich is drawing Best Actor buzz for "Wild Horse Nine", the Martin McDonagh black comedy that earned a 13-minute ovation in Venice and screened as Telluride's surprise selection. It could end a three-decade Oscar drought for the two-time nominee.

Sitcom Star Richard O'Sullivan Dies at 82

British actor Richard O'Sullivan, best known as Robin Tripp in the 1970s sitcoms "Man About the House" and "Robin's Nest," has died at age 82. He was one of the defining faces of ITV comedy in his era before health issues curtailed his career.

Deep Dive

The NFL Kicks Off With Eagles and Jaguars Favored

What it is: The 2026 NFL season opens this weekend, and SportsLine's simulation model has locked in Week 1 best bets after running every game 10,000 times. Its projections account for factors including roster strength, recent performance, injuries, home-field advantage, and the latest betting lines. Week 1 is especially difficult to handicap because teams have changed personnel and revealed little during the preseason.

The detail: The model is highest on the Philadelphia Eagles and Jacksonville Jaguars as its top-rated Week 1 picks against the spread. The Eagles enter as one of the NFC's clearest Super Bowl contenders on the strength of a top-five offensive line and a defense retooled around returning starters. The Jaguars, meanwhile, are a trendier bet. A young roster paired with an improved coaching staff has closed the gap in a tightening AFC South. Both selections reflect a belief that the market has not fully priced in their advantages, although opening-week volatility makes even strong projections vulnerable to unexpected performances.

Why it matters: Week 1 sets the tone for a $150 billion legal sports betting industry that has ballooned since the Supreme Court struck down PASPA in 2018. Opening weekend is the single largest wagering event outside the Super Bowl, and sharp early lines shape the market for the rest of the season. NFL viewership, meanwhile, is at record highs across every major network. The league is functionally the last mass-audience programming in American media. That reach also turns betting movement into a broader business signal, influencing sportsbook promotions, advertising demand, fantasy participation, and the way networks package games for increasingly engaged audiences.

What to watch: Injury reports Saturday will move lines materially before Sunday's 1 p.m. ET kickoffs, especially at quarterback and along both trenches. Weather in the Northeast could scramble totals on outdoor games, and books will be watching sharp money on the Jaguars-Panthers opener as a tell for how much public sentiment has shifted on Jacksonville. Also worth tracking: whether the Chiefs, quiet all preseason, open the year with their usual September stumble. Late line movement may be just as revealing as the final scores, showing which preseason assumptions professional bettors trust most.

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