The Sydney Sweeney Effect

Thursday, Sept 4th, 2025

World News - Trump to Meet With Putin 

FT

Donald Trump announced that he plans to call Russian President Vladimir Putin in the coming days as his push to broker a peace deal in Ukraine stalls, with Moscow rejecting his proposal for a meeting with Ukrainian President Volodymyr Zelenskyy. Speaking alongside Polish President Karol Nawrocki at the White House, Trump said U.S. troops would remain in Poland and could even be increased, despite discussions about potential drawdowns in Europe. He warned that further penalties against Russia are prepared if Putin continues to resist negotiations, citing previous economic measures such as tariffs. While Trump emphasized his dissatisfaction with the ongoing war and made clear his frustration with Putin, he also highlighted his ongoing relationships with global leaders, including China’s Xi Jinping and North Korea’s Kim Jong Un, even as their closer alignment underscored growing geopolitical tensions.

Tech - Trump Administration Double Down on Big Tech Anti-trust

FT

Despite promising deregulation and railing against European tech rules, Donald Trump’s administration is pressing ahead with aggressive antitrust cases against U.S. tech giants, even after a judge rejected its push to break up Google in a historic monopoly trial. The Department of Justice and the Federal Trade Commission continue to pursue actions against Google, Apple, Amazon, and Meta, with officials insisting they will not back down from challenging what they describe as abuses of digital market power. This stance, which echoes efforts under Joe Biden, highlights a rare policy continuity across administrations, reflecting both populist Republican anger at Big Tech’s influence and concerns over monopolistic practices. At the same time, Trump has courted tech leaders with promises of tariff relief and investment deals, while clashing with the EU over digital regulation. The contradictory approach—combining deregulation abroad with tough enforcement at home—illustrates how antitrust action has become both a legal battleground and a political tool, keeping Silicon Valley under heavy scrutiny as multiple high-stakes trials move forward.

Business - American Eagle Surges On Sydney Sweeney Campaign

CNBC

American Eagle’s stock surged more than 20% after the retailer reported stronger-than-expected quarterly earnings and credited its controversial Sydney Sweeney campaign as the “best” in company history, alongside a new partnership with Travis Kelce. Despite mixed reactions — with critics calling the ads sexualized or offensive and others, including Donald Trump, praising them — CEO Jay Schottenstein said the campaigns have boosted customer awareness, engagement, and sales, helping the brand attract 700,000 new customers and drive denim sellouts. Earnings per share nearly doubled analyst expectations, while revenue slightly topped forecasts, though the company cut its full-year operating income outlook due to tariffs. Pairing targeted celebrity collaborations with efforts to reduce reliance on Chinese manufacturing, American Eagle is seeking to strengthen its competitive edge against rivals like Abercrombie, Gap, and Levi’s, even as consumer spending remains cautious.

The Daily Spark

Sentiment indicators for consumers and firms are pointing to a weaker employment report for August.

First, consumer sentiment about the outlook for the labor market has historically been a leading indicator for job growth. Using the historical relationship to predict the August employment report suggests that nonfarm payrolls on Friday could come in lower than the 90,000 expected by the consensus, see the first chart below.

Second, small businesses saying that they are experiencing poor sales has also been a leading indicator for the unemployment rate, and the current reading suggests the unemployment rate could rise over the coming months, see the second chart.

The bottom line is that sentiment indicators are suggesting that the labor market will continue to weaken.

Quote of the Day 

“Earth provides enough to satisfy every man's needs, but not every man's greed.” ― Mahatma Gandhi