Happy Wednesday, N2K reader!

This week’s world-famous news haiku competition™ is about how communities across the country came together in the face of the deluge. I believe that you, yes, you, dear reader, can craft a spectacular haiku on the subject. So: Send me your entry — to our spiffy new email address, haiku at cheddar dot com — by noon ET Thursday, for consideration by your Cheddar peers!

And now for something completely different.

Matt Davis — Need2Know Chedditor

News You Need2Know

• Wall Street flirts with new records as stocks zig …

• Congress takes on hard-to-cancel subscriptions wit …

• You can get high from a drink at a Bulls game now

• Hey Alexa, your grocery stores suck!

• TikTok uninstalls spike as users question new U.S. …

• Poll of the day: You’re not into the air taxis

What’s the stock market up to, eh?

$SPX ( ▼ 0.2% ) $DJI ( ▲ 0.63% ) $NDX ( ▼ 1.24% )

Companies mentioned in today’s newsletter

 $UNH ( ▼ 2.53% )  $HUM ( ▼ 0.49% )  $ELV ( ▲ 0.58% )  $CVS ( ▼ 2.07% )  $UPS ( ▲ 4.35% )  $GLW ( ▼ 2.66% )  $META ( ▼ 3.32% )  $AAPL ( ▲ 2.6% )  $MSFT ( ▲ 0.69% )  $GM ( ▲ 0.68% )  $HCA ( ▼ 1.12% )  $AAL ( ▲ 3.0% )  

Wall Street flirts with new records as stocks zig zag

Wall Street experienced a whirlwind of activity on Tuesday as the S&P 500 rose 0.5%, inching toward record highs, even though more individual stocks declined within the index than gained.

UnitedHealth Group $UNH ( ▼ 2.53% ) suffered a major blow, plunging 19.7% despite a profit report that slightly exceeded analyst expectations. The deeper concern lay in its revenue forecast for 2026, which underwhelmed Wall Street. The health care sector faced additional downward pressure from a disappointing Medicare Advantage rate increase, impacting Humana $HUM ( ▼ 0.49% ) (-18.9%), Elevance Health $ELV ( ▲ 0.58% ) (-12.8%), and CVS Health $CVS ( ▼ 2.07% ) (-13.7%). Meanwhile, UPS $UPS ( ▲ 4.35% ) showed resilience, gaining 2.8% after posting better-than-anticipated profits and revenue projections while unveiling plans to reduce its workforce by 30,000.

A bright spot came from Corning $GLW ( ▼ 2.66% ) , which surged 16.3% after securing a $6 billion deal with Meta Platforms $META ( ▼ 3.32% ) to supply optical fiber and cable for data center expansion. Meta’s strong momentum also lifted other Big Tech players, with Apple $AAPL ( ▲ 2.6% ) (+1.8%) and Microsoft $MSFT ( ▲ 0.69% ) (+2.6%) bolstering the sector.

Elsewhere, General Motors $GM ( ▲ 0.68% ) climbed 9%, buoyed by robust profit figures and shareholder-friendly stock buyback plans, while HCA Healthcare $HCA ( ▼ 1.12% ) rallied 8.3%. However, American Airlines $AAL ( ▲ 3.0% ) saw a 5.4% decline after citing revenue losses linked to the U.S. government shutdown.

We’re also waiting on key earnings from Meta, Microsoft, Tesla, and Apple later this week.

Congress takes on hard-to-cancel subscriptions with ‘click-to-cancel’ bills

Efforts to make canceling subscriptions as easy as signing up for them are gaining momentum in Congress. The bipartisan “Unsubscribe Act,” introduced in the House in January 2026 as a companion to a Senate measure proposed in July 2025, aims to protect consumers from so-called “subscription traps.” These traps often enroll users into recurring charges after free trials and can prove notoriously difficult to cancel.

“This does seem to be a bipartisan issue, and a lot of regulators are concerned about consumers getting into subscriptions without knowing all the details,” said Gonzalo Mon, a partner at Kelley Drye & Warren law firm, talking to CNBC.

The measures would require companies to offer clear cancellation options, similar to the Federal Trade Commission’s (FTC) “click-to-cancel” rule finalized in 2024 but blocked last year by the Eighth Circuit Court of Appeals. Despite the court setback, advocacy groups are urging the FTC to revisit the rule. “The American public continues to need robust protection against unfair and deceptive ‘subscription traps,’” noted a petition from the Consumer Federation of America.

On average, U.S. adults spend $1,080 annually on subscriptions, with $205 spent on unused services, according to CNET’s 2025 survey.

You can get high from a drink at a Bulls game now

Chicago’s United Center, home to the NBA’s Bulls and NHL’s Blackhawks, is making history as the first major U.S. arena to offer THC-infused beverages to attendees aged 21 and over. Through a multi-year partnership with Chicago-based RYTHM Inc., guests at concerts and live events can enjoy Señorita-branded drinks starting February.

The collaboration reflects the growing acceptance of cannabis products at entertainment venues. As opposed to, you know, in the bathrooms, or outside the venues, where cannabis products have traditionally been consumed.

RYTHM CEO Ben Kovler emphasized the thoughtful rollout of these products, saying, “The reality is consumers want more options. THC beverages are not trying to replace alcohol; they are just another option — one that is hangover-free.”

The drinks, which include Lime Jalapeño Margarita and Grapefruit Paloma flavors, are served in 5 mg dosage per can, promoting safe and precise consumption. If you drink 10, of course, then you’re gonna have a problem, buddy…or a great time. You choose.

The Bulls are ninth in the Eastern Conference and likely to struggle in the play-in tournament (#NotBettingAdvice), so goodness knows it might be helpful to have a buzz on if you’re trying to stay excited watching the team. My team is still the Golden State Warriors, since I lived in Oakland when they won back-to-back championships with Kevin Durant in 2017 and 2018, but they’re eighth in the West. The Blackhawks are third from bottom or sixth from the top in the Central Division, if that helps? #NotSportsAdvice

Song of the Day: Arctic Monkeys, ‘Opening Night’

The Sheffield band’s first release since their 2022 album ‘The Car,’ this single is about the opulence of a casino after-hours, with lost souls colliding. In other words, it’s just like this newsletter!

Hey Alexa, your grocery stores suck!

Amazon $AMZN ( ▼ 2.36% ) is closing all 57 Amazon Fresh stores and 15 Amazon Go locations as it pivots to focus on online same-day delivery and expanding its Whole Foods Market presence. The company announced this strategic shift after its branded physical stores fell short of offering a "distinctive customer experience" that could scale efficiently.

In other words, nobody shopped there.

The move reflects Amazon’s evolving approach to physical retail, a space it has sought to disrupt for over a decade, as if it didn’t do enough damage to malls and town centers all over the country by driving them out of business with its online shopping model. Now Amazon wants to be at the mall, prompting me to wonder when somebody might compete with them.

Amazon’s acquisition of Whole Foods in 2017 has proven a more successful venture. The company plans to open over 100 new Whole Foods locations in the coming years, with some converted from shuttered Fresh and Go stores.

Amazon’s experimentation isn’t stopping there. A new 230,000-square-foot megastore— blending in-person shopping and digital capabilities — is set to open in Orland Park, Illinois, positioning Amazon to compete with retailers like Target $TGT ( ▲ 2.54% ) . Additionally, five new Whole Foods Market Daily Shop locations, featuring a smaller-scale format, are slated to launch in 2026.

TikTok uninstalls spike as users question new U.S. joint venture

TikTok is facing turbulence as the app experiences a surge in uninstalls following the announcement of its U.S. operations being spun into a new joint venture.

Uninstalls in the United States have increased nearly 150% over the past five days compared to the average in the previous three months. The sudden spike highlights growing user skepticism over the new venture and its implications for privacy and app functionality.

The platform prompted users to accept an updated privacy policy last week, which led many to raise concerns about TikTok’s data collection practices. It’s ironic because if anything, the new venture is supposed to make privacy better and safer for Americans.

Popular TikTok creator Dre Ronayne, who had nearly 400,000 followers, deleted her account, saying on Threads (which is owned by $META ( ▼ 3.32% ) , and hardly immune from privacy concerns), “If I can delete my biggest platform because their terms of agreement and censorship have gotten out of control, so can you!”

Creators have also voiced concerns about the lack of communication from TikTok regarding the impact of the joint venture. “We’re all kind of looking at this platform, and we just don’t know what’s happening,” said Nadya Okamoto, a prominent TikToker with over 4 million followers.

Meanwhile, competing apps like UpScrolled and Skylight Social are seeing downloads spike significantly amid the uncertainty.

Should you check your 401(k) today?

👍️ 

Yep.

Poll of the day: To TikTok, or not to TokTik?

Poll of the day: You’re not into the air taxis

We asked: “Would you consider a ride in one of these air taxis that can take you from Manhattan to JFK in 7 minutes?”

You answered:

🟨🟨🟨🟨⬜️⬜️ Sure. I'll save time on my commute from Manhattan to JFK. Why not? (176)

🟩🟩🟩🟩🟩🟩 This thing looks like a death trap. I'll pass! (228)

🟨🟨🟨⬜️⬜️⬜️ Isn't there this thing called the subway? I'll take that. (142)

⬜️⬜️⬜️⬜️⬜️⬜️ Like any true New Yorker, I always walk to the airport. (17)

563 Votes via @beehiiv polls

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