The Daily Editor

Social Security beneficiaries will likely receive a smaller 2027 cost-of-living adjustment (COLA) than previous estimates suggested. The Senior Citizens League (TSCL), a nonpartisan senior group, recently updated its COLA forecast with new July data, lowering its estimate from 3.8% to 3.6%.

The COLA isn’t locked in yet, though. We have to wait and see what inflation does over the next month and a half before we know what next year’s benefit boost will look like,

 » Read more about: Social Security Beneficiaries Just Got Some Tough News About the 2027 COLA  »

 » Read more about: Dow Rebounds as Tech Weakness Offsets Falling Bond Yields  »

Good morning. The Nasdaq and S&P 500 opened in the red as chip stocks came under pressure and investors awaited a new sanction campaign against Iran and a breakdown in US-Canada trade talks.

Here’s a check of the markets in the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data.

 » Read more about: Semiconductor stocks drag S&P 500, Nasdaq lower: AlphaCheck  »

 » Read more about: Stock market today: S&P 500, Nasdaq fall as Nvidia, chip stocks slide; Dow rises  »

US President Donald Trump last week declared economic warfare against Iran, vowing to isolate the regime in a move he hopes will bring about what military force has so far failed to achieve — capitulation.

Treasury Secretary Scott Bessent is scheduled to reveal further details of the administration’s plans later this afternoon.

 » Read more about: US Treasury threatens new sanctions on nations tied to Iran  »

Ontario Premier Doug Ford and members of his cabinet will be holding a news conference in Hamilton Monday after Canada-U.S. trade talks failed, with the premier saying Trump can “kiss my ass” as the fallout from the trade war continues.

Fifty per cent U.S. tariffs on about $28-billion worth of Canadians goods came into effect early Saturday.

 » Read more about: 'Kiss my ass,' Ford tells Trump as he readies to speak in Hamilton amid Canada-U.S. trade war  »

Canada may cut off or raise the price of power exports to the U.S. to retaliate against President Trump’s new tariff war, a move that would further raise prices for beleaguered American consumers especially in northern border states like New York.

After Canadian Prime Minister Mark Carney vowed to hit back with “dollar for dollar” measures against the U.S.,

 » Read more about: Canada may cut U.S. power exports as Trump reignites trade war  »

Key Points

• Nvidia is set to reveal a new reporting structure this quarter.

• Customer concentration will be a key point of emphasis.

Nvidia(NASDAQ:NVDA) is scheduled to report second-quarter earnings after market close on Aug.

 » Read more about: NVIDIA's Next Earnings Report on Aug. 26 Could Send the Stock Soaring. Here's Why.  »

 » Read more about: The six stocks both hedge funds and mutual funds love – Goldman  »

 » Read more about: ‘We Don’t Need Canada’: Trump Escalates Trade War With Threat of 50% Auto Tariffs  »