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Socrates once said Γνῶθι σεαυτόν, which as we all remember, means “know thyself.” In an effort to please the Greek philosopher I’ve rounded up a few recent poll findings from Need2Know reader polls. They reveal quite a lot about you, N2K’ers:

• 82% of you said Harvard was right to stand up to the Trump administration.

• 96% of you think members of Congress should not be able to trade stocks.

• 94% of you think Trump should allow Fed chair Jay Powell to do his job unimpeded without interference.

• A whopping 50% of you would turn down a free Tesla if offered, based on your concerns about Elon Musk’s reputation.

• 90% of you think it’s unfair for Starbucks CEO Brian Niccol to ask his staff to return to the office while he works remote from San Diego.

• 88% of you feel worse about your personal finances than you did a year ago.

• 45% of you are baby boomers. Gen X and Millennials make up our next-largest reader age groups.

So, there you go. Now, let’s talk about the news you Need2Know?

—Matt Davis, Need2Know Chedditor

P.S. The subject of this week’s world famous News Haiku^TM competition is that Delta $DAL ( ▲ 0.95% ) and United Airlines $UAL ( ▲ 1.11% ) are being sued by passengers who claim they were duped into paying up to $100 extra for window seats that did not have Email me your haiku by Thursday at noon ET and get ready for glory.

News You Need2Know

• Not enough homebuyers means sellers have to — gasp …

• Supreme Court lets Trump remove FTC member

• Robinhood joins new band of companies calling the …

• Star Trek plans Lego sets for the franchise’s 60th …

• Stocks tick higher after Wall Street flirts with a …

What’s the stock market up to, eh?

$SPX ( ▲ 0.21% ) $DJI ( ▲ 0.25% ) $NDX ( ▲ 0.45% )

Companies mentioned in today’s newsletter

$REDFIN ( 0.0% )  $HOOD ( ▲ 15.83% )  $APP ( ▲ 11.59% )  $EME ( ▼ 0.61% )  $SATS ( ▲ 19.91% )  

Not enough homebuyers means sellers have to — gasp! — lower prices or walk

For years, homeowners had the upper hand in a booming housing market, but the tide is turning. MWAHahahahahahahahaaaaa.

Rising mortgage rates, economic uncertainty, and new home construction are giving buyers unexpected bargaining power. In regions like the South and West, sellers are finding it harder to drive hard bargains and are often forced to lower their asking prices or sweeten deals with incentives like covering closing costs or funding repairs.

The shift reflects deeper market challenges. "Even though we are seeing a substantial amount of price reductions, sometimes it’s not enough to move the home, it’s still sitting,” said Annie Foushee, a Redfin $REDFIN ( 0.0% ) agent in Denver. This sentiment is echoed by homeowners like Doug McCormick, who has struggled to sell his Evergreen, Colorado, home after lowering its price to a mere $1.28 million. “I keep reminding myself you only need one buyer,” he said.

Sure, Doug. I’ll give you $20 for it?

While buyers are enjoying more influence, the market’s overall slump persists. Homes linger on the market longer, with active listings increasing 25% in July year-over-year, according to Realtor dot com. Some sellers, like Miami homeowner Tammy Tullis, are opting to pull their listings rather than accept lowball offers. "I want to sell, but I’m not in a rush,” Tullis said.

Song of the day: Gwenifer Raymond, “Jack Parsons Blues”

Welsh-born, Brighton-based acoustic guitarist Gwenifer Raymond is a finger-picking maniac. She also has a Ph.D. in astrophysics, which is now a requirement for all indie acoustic guitarists.

Supreme Court lets Trump remove FTC member

Chief Justice John Roberts has temporarily allowed President Donald Trump to remove Rebecca Slaughter, a member of the Federal Trade Commission, despite 90 years of legal precedent saying the FTC is independent.

The case centers on Slaughter’s removal, which Trump initiated in the spring. While lower courts initially ordered her reinstatement, citing that commissioners can only be removed for misconduct or neglect of duty, Roberts paused these rulings in an emergency decision. The action grants temporary power to Trump while the case continues to play out. Slaughter and her legal team have been asked to respond to the administration’s arguments in the coming days.

The Justice Department contends that federal agencies like the FTC fall under presidential control, granting the president authority to dismiss commissioners at will. Critics worry this shift could weaken agency independence.

The FTC’s current structure traditionally includes bipartisan representation, reflecting Congress’s intent to foster balance. However, the court’s conservative majority increasingly appears to favor reducing agency independence, a stance with potential ramifications for entities like the Federal Reserve.

Today on the ‘gram: AI that writes code on your device

Post of the day: A drawing that doesn’t exist

Quote of the Day

Robinhood joins new band of companies calling the S&P 500 their home

Robinhood Markets $HOOD ( ▲ 15.83% ) , the online brokerage platform synonymous with the “meme stock” trading frenzy, is entering a new era of recognition. The company is officially joining the S&P 500 $SPX ( ▲ 0.21% ) on September 22, alongside AppLovin $APP ( ▲ 11.59% ) , a mobile tech platform, and Emcor $EME ( ▼ 0.61% ) Group, a construction firm. It marks a significant turnaround for Robinhood, which has experienced financial and reputational highs and lows since going public in 2021.

Despite a rocky start — its IPO debuted at $38 per share but closed below that on the first day — Robinhood has weathered volatility. The company finished 2023 at $12.74 per share but saw impressive growth thereafter. By 2025, shares had tripled, now trading at over $100. This resurgence is credited in part to a growing interest in cryptocurrency and a favorable regulatory environment.The SEC recently closed an investigation into Robinhood without pursuing enforcement, for example.

Robinhood’s financials have also improved dramatically. After losing 61 cents per share in 2023, the company rebounded with a significant profit of $1.56 per share in 2024. The momentum is expected to continue.

Should you check your 401(k) today?

👍️ 

Yes.

Star Trek plans Lego sets for the franchise’s 60th anniversary

Star Trek is gearing up for a monumental celebration in honor of its 60th anniversary next year. Announced yesterday, on the franchise's 59th anniversary, which is known as Star Trek Day to nerds like my editor, the yearlong celebration promises to be a treat for fans globally.

One of the highlights is the introduction of Star Trek Lego sets, a partnership that has excited fans of all ages. "The franchise and the Lego company have strong shared values of imagination, exploration, and building a better tomorrow, making this an ideal partnership for fans of all ages," said Star Trek’s spokesman, a.k.a. Mr. Spockandkirk.

Additionally, new projects include "Star Trek: Starfleet Academy," set to launch on Paramount+ $PSKY ( ▲ 1.27% ) and "Star Trek: Scout," an animated YouTube $GOOGL ( ▼ 0.32% ) series for preschoolers. There will also be a new scripted podcast, “Star Trek: Khan,” chronicling the backstory of the iconic villain from the 1982 film.

A "Star Trek" cruise is also scheduled for late February, offering once-in-a-lifetime experiences with various actors from the franchise, including William Shatner, who probably won’t be around for the show’s 70th anniversary, so buy your tickets now, eh?

Stocks tick higher after Wall Street flirts with another record

Wall Street saw a modest uptick to start the week, setting the stage for a critical week of economic data that could influence the Federal Reserve’s upcoming decision on interest rates. AppLovin surged 10.2% and Robinhood rose 13.4% after their S&P 500 listings were announced.

EchoStar $SATS ( ▲ 19.91% ) experienced a significant boost, jumping 15.1% following the announcement of its $17 billion deal to sell spectrum licenses to Elon Musk’s SpaceX. The deal also includes SpaceX covering approximately $2 billion in EchoStar debt interest payments through November 2027, benefitting SpaceX's Starlink initiative.

Poll of the day: Selling or buying a home?

Poll results: RFK not OK

We asked: Are you concerned about RFK Jr.'s stewardship of Americans' health?

You answered:

⬜️⬜️⬜️⬜️⬜️⬜️ I think he's doing a great job leading the Department of Health and Human Services. (76)

🟩🟩🟩🟩🟩🟩 I'm concerned about his leadership, particularly over vaccine policy. (1040 votes)

1116 Votes via @beehiiv polls