Stocks sink after jobs miss, Trump-Harris tax plans, home retailer closing all stores

U.S. hiring picked up in August but not as much as economists had forecasted.  

Stocks sank for the week with September off to a rocky start for investors ahead of the Federal Reserve’s meeting later this week. 

Deal danger: Both Alberstons and Kroger, as well as U.S. Steel and Nippon, are warning of consequences if the Biden administration blocks both mergers.

Dueling tax plans: VP Kamala Harris vs. former President Trump. 

Amazon’s Alexa is embroiled in controversy. 

Another retailer hits the skids … for good. 

Mickey D’s reimagines fan favorite.  

SEPTEMBER SLUMP: Stocks fell on Friday, capping what was the worst week for the Dow Jones Industrial Average and S&P 500 since March 2023. For the Nasdaq, it’s the worst since January 2022…more on the markets. 

MIXED BAG: The latest jobs data gave investors a cloudy picture of the U.S. economy…continue reading here.  And created more uncertainty ahead of the Fed’s September meeting, when policymakers are expected to cut interest rates…continue reading here.

VIDEO: Investors weigh the odds of a U.S. recession after muted jobs report. 

NVIDIA NAILED: On Tuesday, the darling of the AI boom lost $279 billion in market value, the most ever for a U.S. stock…more on Nvidia here. Shares lost 14% for the week.

RACE FOR THE WHITE HOUSE 2024

GAME OVER? Albertsons and Kroger say consumers will suffer if the Biden administration blocks their $25 billion tie-up…continue reading here. In other deal news, U.S. Steel’s CEO is promising layoffs if his $14.9 billion combo with Nippon Steel gets scrapped…continue reading here.

VIDEO: Why the Biden administration opposes the foreign steel deal.

DUELING TAX PLANS: VP Kamala Harris is breaking with President Biden on capital gains tax policy…continue reading here. Meanwhile, former President Trump is doubling down on the corporate tax rate, which he plans to slash even further, if re-elected…continue reading here.

VIDEO: The danger of raising taxes could hit Main Street hard.

BILLIONAIRE’S WARNING: Mark Cuban has a warning about taxation and the stock market…continue reading here.

PERSONAL FINANCE TIPS & TRICKS

SNEAKY POLITICS?: Amazon’s Alexa is wading into politics and her bias is creating controversy…continue reading here.  

VIDEO: Amazon’s Alexa busted for unfair political bias. 

RIP: Another retailer is going to the graveyard. LL Flooring, formerly Lumber Liquidators, is calling it quits and shuttering 400 stores…continue reading here. 

COMEBACK? Red Lobster gets the greenlight to emerge from bankruptcy…continue reading here

MCDONALD’S MAKEOVER: Mickey D’s is giving a sweet menu classic a refresh… continue reading here.  

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