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Good morning investors! Stocks continue to go down as all eyes are now on the big inflation report set to come today.
Today we cover:
Existing home sales dip
Amazon to pay hefty fines
Earnings
📊 Economy and News
U.S. Home Sales Dip Slightly in August Amid Affordability Challenges
U.S. existing home sales fell 0.2% in August to a seasonally adjusted annual rate of 4.00 million units, down from 4.01 million in July. Economists had predicted a slightly larger drop to 3.96 million units.
Despite the decline, sales rose 1.8% year-over-year. High home prices and elevated mortgage rates continue to strain affordability, though recent rate drops to 6.26%—the lowest since last fall—offer some relief.
The median home price increased 2.0% to $422,600, up 52% since August 2019. Inventory fell 1.3% to 1.53 million units, equating to 4.6 months of supply.
All-cash transactions dropped to 28%, while investors comprised 21% of buyers, and first-time buyers held steady at 28%.
Global hits:
Bank of Mexico lowers benchmark interest rate to 7.50%.
Brazil central bank cuts 2025 GDP forecast, sees inflation above target.
Euro zone lending growth ticks up.
U.S. weekly jobless claims dropped to 218,000 for the week ending September 20, a decrease of 14,000 from the previous week. Despite this decline, the labor market is weakening due to sluggish hiring, with nonfarm payrolls averaging only 29,000 jobs per month in the three months to August, compared to 82,000 the previous year. Businesses are hesitant to expand headcounts amid trade uncertainties and an immigration crackdown, while continuing claims slightly decreased to 1.926 million, indicating longer unemployment durations as the jobless rate hit a near four-year high of 4.3% in August.
Reminder: New car sales are seeing a surprising boost heading into the fourth quarter. Also, US has opened tariff investigations into medical equipment, robotics and industrial machinery.
Lastly,Q2 real GDP was revised up to a 3.8% annualized pace on stronger consumption.
is a crash coming?
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📈 Stocks
S&P 500 6,604.72 (-0.50%)
DJIA 45,947.32 (-0.38%)
NASDAQ 22,384.70 (-0.50%)
BRENT CRUDE 69.42 (+1.05%)
* Prices as of Sep 26th, 12:20 AM UTC
Amazon Settles with FTC for $2.5 Billion Over Prime Program Practices
Amazon has agreed to a $2.5 billion settlement with the Federal Trade Commission (FTC) to resolve allegations of deceptive practices in its Prime subscription program.
The settlement includes a $1 billion civil penalty and $1.5 billion in refunds to approximately 35 million affected customers. The FTC claimed Amazon misled users into enrolling in Prime and hindered cancellation efforts.
The agreement, which avoids a jury trial, mandates clear disclosures, express consent for charges, and an easy cancellation process, many of which Amazon says it already implemented.
The company admitted no wrongdoing, and executives Jamil Ghani and Neil Lindsay are barred from unlawful conduct. The penalty, while significant, is a fraction of Amazon’s $2.4 trillion market cap. Amazon still faces a separate FTC lawsuit from 2023 alleging monopolistic practices in e-commerce.
Also check: Starbucks to close stores, lay off 900 workers in $1 billion restructuring plan. SAP faces an EU antitrust probe into software practices; Chevron flagged a $200M–$400M quarterly impact from Hess deal-related items.
Microsoft has terminated a set of services for the Israeli military after an investigation suggested Israel was using the company’s cloud computing technology for mass surveillance of Palestinians.
TikTok deal done: President Donald Trump signed an executive order on September 25, 2025, approving a deal to keep TikTok operational in the U.S., valued at $14 billion according to Vice President JD Vance.
The agreement, pending Chinese approval, establishes a new joint-venture company to manage TikTok’s U.S. operations, with ByteDance holding a 19.9% stake and major investors Oracle, Silver Lake, and Abu Dhabi’s MGX controlling about 45%, alongside 35% owned by ByteDance investors and new stakeholders like General Atlantic, Susquehanna, and Sequoia.
Oracle will oversee security and cloud services, ensuring American operation, while the deal avoids a federal equity stake.
Earnings:
Costco exceeded Q4 earnings and revenue expectations. Membership fee revenue increased 14%, driven by new, younger members (nearly half of new signups are under 40) and a fee hike last fall. Online sales grew 13.5% year-over-year, excluding gas price and foreign exchange impacts. The stock remained flat after the result. Despite a 180% stock rise over five years, Costco’s shares gained only 2% this year, underperforming the S&P 500’s 12% increase.
Accenture posted Q4 revenue of $17.6B and announced $865M in restructuring to streamline operations, trimming its near-term outlook; the stock fell. The company highlighted demand pockets in cloud and data despite macro friction. Next catalyst is its investor day color on FY margin levers.
💵 Personal Finance
If you're retired and finding it tough to make ends meet on Social Security or a pension, a reverse mortgage could help take some of the pressure off. With the "tenure" payment plan, you can receive reliable monthly payments for as long as you live in your home and keep up with basic responsibilities like property taxes and insurance. It’s a way to turn your home’s value into extra income without giving up the place you love, so you can enjoy a more comfortable and secure retirement.
To qualify for a reverse mortgage, you must meet the following requirements:
You must be at least 62 years old.
You must own your home outright or have a low remaining mortgage balance that can be paid off at closing with reverse mortgage proceeds.
The home must be your primary residence (not a second home or rental property).
Eligible properties include single-family homes, FHA-approved condos, townhomes, and certain multi-unit properties (up to 4 units, as long as you live in one).
You must demonstrate the ability to pay property taxes, homeowners insurance, and maintenance costs.
You must complete a HUD-approved reverse mortgage counseling session to ensure you understand the loan terms and implications.
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👩🏽⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.