Economic Indicators - US jobless claims decreased to 218,000 for the week ending Sept. 20, down from 232,000 previously, with continuing claims slightly falling to 1.92 million [2][15] - Q2 GDP growth rebounded at an annual rate of 3.8%, recovering from a 0.6% drop in Q1, surpassing the estimated 3.3% [15] Company Updates - Costco's quarterly earnings report is anticipated, with expectations of higher sales as consumers seek deals amid economic uncertainty [3][15] - Starbucks plans to cut 900 corporate jobs and close unprofitable stores as part of a turnaround strategy, with notifications to employees on Sept. 26 [5][15] - Starbucks CEO Brian Niccol stated that savings from job cuts will be reinvested into stores, including enhancements in customer service and new coffeehouse designs [6][15] - CarMax reported Q2 earnings of $0.64 EPS, missing the expected $1.03, and revenue of $6.59 billion, below the $7.05 billion estimate, leading to a 12% drop in shares premarket [7][15] Government and Market Impact - The White House has instructed federal agencies to prepare for permanent job cuts if a government shutdown occurs, targeting programs without legally required funding [9][15] - President Trump is planning to sign an agreement to separate TikTok's US operations from ByteDance, pending China's approval, which could involve a deal worth tens of billions [10][15] - Intel shares rose over 3% in premarket trading following reports of talks with Apple for an investment [11][15] Market Sentiment - Analysts suggest the stock market may be experiencing a new normal with high prices reflecting investor excitement but also risk, reminiscent of the dot-com era [12][15] - Despite concerns about overvalued stock prices, many investors remain optimistic, creating a tension between risk warnings and ongoing market enthusiasm [12][15]