In partnership with

Greetings !

This week’s world famous News Haiku^TM competition theme is that the U.S. government shutdown has left traders “flying blind” on jobs data. Email me your brilliant News Haiku^TM on the subject by Thursday at noon ET for a chance to be voted winner.

Now let’s talk about today’s news you Need2Know, shall we?

—Matt Davis, Need2Know Chedditor

News You Need2Know

• Gold broke $4,000, so everybody panic!

• Trump pushes “deals agenda” ahead of midterms

• Deep fakers rejoice at new AI video app Sora

• NYSE owner puts $2 billion into Polymarket

• How Taylor Swift shattered sales records

What’s the stock market up to, eh?

$SPX ( ▲ 0.58% ) $DJI ( ▼ 0.0% ) $NDX ( ▲ 1.12% )

Companies mentioned in today’s newsletter

$PFIZER.NSE ( ▲ 2.05% )  $LLY ( ▲ 0.25% )  $ICE ( ▼ 1.61% )  

Gold broke $4,000, so everybody panic!

Gold, historically, has been an asset people use when they’re considering fleeing the country a safe investment. So when gold prices go up, you know, it means they’re getting, well, a bit nervous about the markets. Gold has soared to record highs in 2025, with prices now exceeding $4,000 an ounce and showing no signs of slowing. The 53% year-to-date surge reflects growing economic and political unease.

“$4,000 an ounce seemed far-fetched at the start of the year,” Bret Kenwell, U.S. investment analyst at eToro, told CBS News. But the rally has been fueled by multiple factors, including the U.S. government shutdown, inflation concerns, and Federal Reserve policies. Nigel Green, CEO of investment firm deVere Group, attributes the rise to waning confidence in traditional assets. “The situation in Washington has reminded investors that political promises do not equate to financial security,” he told CBS.

Looking ahead, experts see room for gold to rise further. Just don’t panic about the stock market, okay? Okay.

Song of the day: Worthitpurchase, ‘Nokia Forever’

“Central to the pull of the suburbs and the internet are promises of social progress and freedom, but increasingly, both have revealed an underbelly of absurd depravity,” write San Francisco-based Worthitpurchase on their website. This song is sitar-laden dream pop. Enjoy.

Trump pushes “deals agenda” ahead of midterms

The Trump administration is pursuing deals across 30 industries to boost economic security and deliver political wins ahead of the 2026 midterms. From pharmaceuticals and AI to energy and mining, the White House is adopting a “whole-of-government approach” aimed at reshaping the U.S. economy. According to a spokesperson, this strategy seeks to “safeguard our national and economic security.”

Some key deals include prompting pharmaceutical giants like Pfizer $PFE ( ▼ 2.25% ) and Eli Lilly $LLY ( ▲ 0.25% ) to expand production of critical drugs in exchange for regulatory relief. Notably, President Trump announced a deal with Pfizer to cut drug prices in exchange for tariff reductions.

The administration isn’t stopping at traditional negotiations. It is reportedly considering more equity stakes in companies and offering revenue guarantees. Howard Lutnick, commerce secretary, described the approach bluntly: “If we’re going to give you the money, we want a piece of the action.”

While this strategy is seen as a robust effort to reduce reliance on China and strengthen supply chains, critics worry about its departure from free-market capitalism. John Coffee, a corporate law professor, told Reuters, “It’s amazing that a Republican administration is taking us farther away from traditional capitalism.”

Today on the ‘gram: Hey ChatGPT, make a video of me as Scrooge McDuck

Post of the day: They were down 6–1, then this happened

Quote of the Day

Deep fakers rejoice at new AI video app Sora

OpenAI's new video-generating app, Sora, has made a remarkable debut on the app store in the U.S., nearly matching the sensational launch of ChatGPT. Data from app intelligence provider Appfigures reveal that Sora achieved 627,000 downloads in its first seven days, surpassing ChatGPT’s 606,000 downloads during its inaugural week.

“Sora’s performance is truly impressive given it's still an invite-only app, unlike ChatGPT which was more publicly available,” Appfigures said, in their analysis. During its first day alone, Sora garnered 56,000 installs.

The significant consumer adoption highlights Sora's innovative capabilities, allowing users to create realistic deepfakes using the new Sora 2 video model. Nonetheless, this feature has sparked controversy. Zelda Williams, daughter of the late Robin Williams, has requested people to stop sending her AI-generated images of her father, for example, which must be… not fun.

Should you check your 401(k) today?

👍️ 

Yes.

NYSE owner puts $2 billion into Polymarket

No, it’s not a shop to buy a dead parrot or a throuples’ dating site. Intercontinental Exchange $ICE ( ▼ 1.61% ) , the parent company of the New York Stock Exchange, is making a $2 billion investment in Polymarket, a prediction market platform that allows users to buy and sell shares of event outcomes using smart contracts.

The partnership marks a significant move toward mainstream adoption of tokenization technology. Shayne Coplan, founder and CEO of Polymarket, called the deal a “major step in bringing prediction markets into the financial mainstream.” Tokenization, a process that converts real-world assets like bonds, real estate, or art into digital tokens, has been hailed by advocates as a transformative tool for democratizing finance. As Coplan noted, “Tokenization has the potential to make trading cheaper, more transparent, and accessible for everyday investors.”

Or, you know. You could describe it, slightly more boringly, as “bookkeeping.” Not everyone is eager about tokenization’s rapid ascent. Critics warn that the technology may undermine established securities laws, which have, let’s say, been beneficial for many of us, over the years. Shares of ICE rose by 1% following the announcement.

Still, I can’t help myself:

How Taylor Swift shattered sales records

Taylor Swift's latest album, "Life of a Showgirl," has undeniably broken streaming records, yet it has also sparked "a bit of fan resentment," revealing "a growing disconnect between strategy and maybe substance," according to Sinead O'Sullivan, author of "Good Ideas and Power Moves," a book about Taylor Swift.

While commercially successful, fans are "substantially confused" by this "staunch departure" from the "complex world" Swift typically builds, Sinead said.

Sinead said Swifties "do not obsess over her purely for her music," but for the "entire universe" she has created. This new album, with Travis Kelce as the "protagonist," feels "one-dimensional, very flat."

Which is surprising, given that Travis Kelce, football player, is commonly known as a three-dimensional renaissance man in all respects. For example there’s his substantial reputation for… playing football and having a more interesting brother. Also, he has good hair, I think? Where’s the Nobel Committee on this one?

It’s an "impossible tightrope," of course, for the billionaire to walk. And she’s still coining it in. So I guess I wish her all the best, don’t you?

Poll of the day: Which of these are you investing in?

Poll of the day: Don’t believe the hype

We asked: Does it fill you with confidence when a company backtracks on an IPO after announcing it?

You answered:

🟩🟩🟩🟩🟩🟩 No. It makes me think they don't know what they're doing. (254)

 🟨🟨🟨🟨⬜️⬜️ Actually yes. I'd rather they backtrack before they IPO than cost shareholders a ton in lost value. (169) 423 Votes

via @beehiiv polls

Need2Know is covered by Cheddar’s Terms of Service.