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

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