Tuesday's Scoop: Tired☀️

Hey friends - welcome back to your daily scoops.

Here’s what you need to know today to inform your work, spending, and investments:

1. Gold is more valuable than ever.

2. Millions of student loan borrowers are getting relief.

3. America is strengthening its power grid against extreme weather.

Global Energy Emissions: 37.4 billion tonnes of CO₂
^{An all-time high, up 1.1% from 2022. (IEA)}

America’s power grid is getting some much-needed upgrades. The US is investing an extra $2 billion to strengthen the power grid against extreme weather. According to the Department of Energy, this funding will support 38 projects across 42 states and the District of Colombia, upgrading transmission lines and boosting grid capacity by over 7.5 gigawatts—enough to power millions of homes. The projects will create 6,000 jobs while attracting $4.2 billion in investments. It’s part of a broader effort to modernize aging infrastructure and shift toward cleaner energy, especially after recent hurricanes exposed vulnerabilities in the system. This could mean fewer power outages during extreme weather and potentially lower electricity bills as the grid becomes more efficient.

Inflation Rate: +2.4% (YoY), +0.2% (MoM)
^{Policymakers aim for 2% YoY inflation (September CPI)}

Millions of student loan borrowers are getting six more months without interest payments. According to the US Department of Education, those enrolled in the new Saving on a Valuable Education (SAVE) plan will continue to have their payments on hold due to ongoing legal battles over the program. The SAVE plan was designed to offer the most affordable repayment options ever, with some people expecting their monthly bills to be cut in half, but lawsuits have temporarily halted parts of it. Before these legal challenges, the administration had already forgiven $5.5 billion in student debt for 414,000 borrowers through SAVE. This extension keeps more money in the pockets of eight million young adults, but the future of student loan relief remains uncertain.

The Market:⬇️ -0.1%
S&P 500: 5,851.20
1Mo: +2% | 1Yr: +39% | 5Yr: +94%

The market drifted lower again on Tuesday as investors lost some of the positive momentum that has fueled multiple new record highs this month. Corporate financial updates have been mixed but encouraging.

Gold is more valuable than ever. Prices for the shiny metal are hovering near record highs this week as investors seek safe havens amid global uncertainties. On Tuesday, spot gold rose to a new all-time high of $2,748 per ounce, according to Reuters. The precious metal has soared 33% this year, fueled by concerns over Middle East tensions, upcoming US elections, and expectations that central banks will continue lowering interest rates. Gold grows more appealing versus cash as savings accounts start paying less interest, especially since many see gold as a safer store of value if normal financial markets tip into crisis.