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TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealYou’ll never regret spending a few extra dollars on a beautiful luxury watch, especially if it’s one that you can wear daily. If you can find one that’s also deeply discounted, then you’re really ahead of the curve. One of the best places to find such a deal is Macy’s. The historic retailer carries everything from jewelry to bedding, but their selection of high-end watches is truly a marvel of modern retail. In fact, one of its best examples of this is currently on clearance, and we recommend putting it in your cart sooner rather than later.The Bulova Marine Star Stainless Steel Watch is on sale for only $270. That’s a discount of 40% off the original price of $450. If you want to get a gorgeous luxury timepiece at an affordable price, then this is the perfect buy.Bulova Marine Star Stainless Steel Watch, $270 (was $450) at Macy’s

Courtesy of Macy’s

Shop at Macy’sWhy do shoppers love it?This watch hits all the important points that you’d expect from a true luxury watch. It’s made from 316L stainless steel, which is not only beautiful, but rustproof and corrosion resistant. The case has a diameter of 43 millimeters, offering a highly legible dial in the center. The dial has a beautiful sunburst effect, and there are applied hour markers with copious amounts of luminous coating. The sword-style handset also has a luminescent coating for maximum legibility in low light conditions.In addition to the watch’s good looks, it also has real dive watch chops, living up to its moniker. With 100 meters of water resistance, you can feel safe taking it in the pool or the ocean, and you don’t have to worry about internal damage. There is also a rotating inner dive bezel that allows you to time your dives, or just about anything else your heart desires. On the inside, this watch is powered by a high-accuracy three-hand quartz movement. This type of battery-powered movement is far more accurate than most standard mechanical watches that cost five times as much. It also includes a special date complication so you can keep track of your monthly calendar right on your wrist. The subtle, yet nicely finished date window sits at the 3 o’clock position, making it easy to read while remaining relatively out of the way. Related: Citizen’s luxury $425 Eco-Drive watch is now 55% off at AmazonDetails to knowMaterial: 316L Stainless Steel,Case diameter: 43 millimeters.Water resistance: 100 meters.Movement: Battery-powered quartz.Macy’s customers were very happy with this watch. One called it “beautifully simple,” adding that it was “very nicely finished.’Shop more deals Citizen Eco-Drive 43-Millimeter Watch, $395 at Macy’sCitizen Steel Eco-Drive Dive Watch, $395 at Macy’sCitizen Sport Casual Black Tone Eco-Drive Watch, $395 at Macy’sWhether you want a watch to wear daily to the office or primarily on your scuba diving trips, the Bulova Marine Star Stainless Steel Watch can do the job. At the sale price of $270, it’s a smart buy for your collection.

Zillow started its July Market Report with good news: Year-over-year home sales increased by 7%. This is the highest annual gain so far in 2026.Then the real estate technology company hit us with a sobering reality.This gain represents sales that closed in July, so many of the offers were actually made in June — before the U.S. officially ended the ceasefire with Iran.That timing makes all the difference. July home sales data were strong, but Zillow analysts believe this is as good as it gets in 2026.Unfortunately, it might all be downhill from here.Newly pending listings decreased in JulyJuly’s strong sales figures reflect June buyer activity, but lagging sales representation isn’t the only reason Zillow analysts remain cautious.Some of the other data points from Zillow’s July report also give the company pause. Specifically, it flagged data about newly pending listings, or homes that have received an offer but haven’t closed yet.”Newly pending listings” from July will likely translate to “home sales” in August. Year-over-year newly pending listings increased by only 0.3% in July — and they’ve dropped 7.7% since June.Related: How young adults are actually buying houses right nowThis shift makes sense, given that Freddie Mac mortgage rates ticked down a couple of times in June, then spiked in July. On July 30, the 30-year fixed rate reached an annual high of 6.66%.Increasing interest rates probably deterred more people from making offers on homes in July.”This portends a weaker half of the year for sales growth, with flat to declining transaction volumes for the remainder of the year in some regions,” wrote Mischa Fisher, chief economist for Zillow Group.

As mortgage rates inch closer to 7%, fewer Americans are confident about buying homes.MoMo Productions / Getty Images

Mortgage rates could continue hurting the housing marketThings quickly worsened in August, lending Zillow’s predictions of a weaker housing market even more credibility. On Aug. 6, the average 30-year mortgage rate had increased again to 6.69%. This could sideline even more potential homebuyers. I reached out to Zillow to ask whether there is a scenario in which the housing market could improve this year. What would it take for Zillow to reverse its grim outlook for 2026 real estate?”Elevated borrowing costs are in part due to elevated inflation,” Kara Ng, senior economist at Zillow, told TheStreet. “Earlier this year, before the oil shock, mortgage rates briefly touched 6% and we saw real buyer activity pick up in response.”More Mortgage Rates:Americans face 3 major takeaways after mortgage rate newsCooler PCE inflation data can’t fix today’s mortgage ratesMortgage rate forecast resets after Fed decision”A reversal of the oil price shock could put buyers back in the position they were in earlier this year, when the typical household had an extra $30,000 in buying power compared to the year before,” Ng continued.For oil prices — and mortgage rates — to drop significantly, the U.S. would have to improve its relations with Iran.The two countries are discussing the possibility of reopening the Strait of Hormuz, but it’s a constant back-and-forth. The deal is far from finalized. However, that would likely be the first step to lower home loan rates.Zillow’s tips for homebuyers and sellers in this marketToday’s high housing costs make it a tough time for many to buy a house. It isn’t exactly easy for sellers, either — less buyer demand means fewer people interested in buying their homes.If you can still afford to buy a home, though, the current real estate market could actually be great for you.”One of the best times to buy is when nobody else wants to,” Ng told TheStreet. “Right now, fewer buyers are able to compete, which means more leverage for the ones who can.””The trade-off for waiting until the 2027 shopping season is fresher options but also potentially fresh competition,” she added.As for home sellers, the key to getting a good offer is to be realistic. Sellers are dealing with the double whammy of an already-slow market and the end of the home-buying season.”As home shopping season winds down, the pool of active buyers gets smaller, which makes pricing right even more important,” Ng said. “A well-priced home can still generate real competition, but there is less room for error than there was a few months ago.”Working with a real estate agent who knows your local market well is key to selling your home in today’s housing environment. A good Realtor can help you set an appropriate price so the house will ideally sell quickly. And they can help you understand what to expect from the process.Related: JPMorganChase drops $750B to fix U.S. housing crisis

After announcing plans to close hundreds of underperforming locations in the first half of 2026, a fast-food burger chain has revealed major changes across its business, including the possibility of additional restaurant closures, as it works to reverse ongoing declines in traffic and sales.The company has also acknowledged that its focus on cost and efficiency has, in some cases, weakened the brand’s differentiation, a challenge it now faces as competition in the restaurant industry grows.The chain is also facing challenges with customer satisfaction. Wendy’s scored 77 out of 100 in the American Customer Satisfaction Index (ACSI), placing it below several major fast-food rivals in the 2026 rankings.Wendy’s new strategy to boost growthWendy’s (WEN) is taking action after reporting its sixth consecutive quarter of declines, launching a major turnaround plan and updating its capital allocation strategy to provide the flexibility needed to support that effort.”Today we are clearly not performing at our potential,” said Wendy’s President and CEO Bob Wright in the company’s second-quarter fiscal 2026 earnings release. “I returned to Wendy’s because I believe we can fix our issues and I am excited to work with our team and our franchisees to drive a strong turnaround.”Related: Wendy’s makes a huge customer service mistakeThe company says it has implemented measures across five areas it has identified as critical to the turnaround: rebuilding a quality quality menu at compelling value, marketing that drives demand, operational excellence, a digital experience that builds frequency, and restaurants as an engine for growth. “We’ve already started looking at necessary restructuring and reorganization efforts, and I look forward to sharing more details with you as they develop,” said Wright. “I’ll be closely engaged in key decisions across the organization and ensure we are moving with focus, speed, and accountability.”The need for a turnaround comes as Wendy’s continues to face pressure on restaurant traffic and sales. During the second quarter of fiscal 2026, the company reported:Global systemwide sales declined 6.5% year-over-yearU.S. systemwide sales fell 8.2%U.S. same-restaurant sales decreased 7%Wendy’s may close more restaurantsThe turnaround effort follows Wendy’s announcement that it had already shuttered 28 locations during its fourth-quarter fiscal 2025 earnings call and expected to close between 5% and 6% of its U.S. restaurants, or roughly 289 to 358 underperforming units, during the first half of 2026.Additional closures could follow.During the company’s second-quarter earnings call, Wright indicated that Wendy’s could close individual restaurants when doing so would improve the financial health of a franchisee’s overall portfolio.”If we need to use closures of a few restaurants here and there to make a portfolio a little bit healthier and help that franchisee get to the right place,” said Wright. “At the end of the day, nothing cures financial health in a restaurant system like top-line growth.”Here’s some of my previous coverage of restaurant closures:30-year-old restaurant chain confirms more closures in 2026Popular breakfast chain closes more restaurantsPopular beverage chain closing multiple locations nationwideWright added that although additional closures may occur, the company will work with franchisees to help restore their portfolios to health, rather than pursue closures simply to reduce the brand’s size.”If the trade area’s moved on and it is a financial drag on that portfolio, then we’re going to support the closing of that location for the health of the system,” said Wright.That distinction is important as Wendy’s attempts to improve its performance. The company’s strategy is not solely focused on shrinking its restaurant footprint. Instead, management says closures may be used selectively when individual locations are no longer financially viable, while the broader turnaround focuses on bringing customers back through menu improvements, value, marketing, operations, and digital initiatives.

Wendy’s may close more locations in 2026.NurPhoto / Getty Images

What this means for the future of Wendy’sWendy’s expects traffic headwinds to continue affecting its ability to return to year-over-year systemwide sales growth in either the third or fourth quarter.The company also predicts continued pressure on company-operated restaurant margins and adjusted EBITDA in the second half of the year because of sales deleverage.As a result, Wendy’s is withdrawing its 2026 financial outlook to allow the new leadership team to fully assess business opportunities and formulate a comprehensive turnaround plan, including the optimal deployment of capital.For consumers, the turnaround could bring changes to Wendy’s menu, value offerings, restaurant operations, and digital experience as the company works to increase traffic. For franchisees, the strategy could also result in additional closures in markets where individual restaurants are no longer financially viable.Wendy’s hired former Potbelly executive Steve Cirulis as the company’s new CFO and Chief Strategy Officer in June 2026. Cirulis previously worked alongside Wright, who led the sandwich chain through a brand turnaround before becoming Wendy’s CEO in May 2026.”As we move forward, our priorities will be maintaining financial discipline, making thoughtful investment choices, and supporting the actions needed to improve performance across the system,” said Cirulis during the earnings call.For Wendy’s, the next phase will depend on whether its new strategy can reverse the company’s sales and traffic declines while improving the financial health of its restaurant system. Until then, additional closures remain one of the options management may use as it evaluates the chain’s underperforming locations.Related: 17-year-old Mexican restaurant chain closes all locations

Treasury Secretary Scott Bessent wants Americans to stop worrying about the wealth gap. On CNBC’s “Squawk Box” on Aug. 4, he said he was “sick of hearing about this K-shaped economy” and declared, “I can say here definitively, the K-shaped economy is over.”In his telling, the country has shifted into what he called a “C-shaped economy,” where lower-wage workers are finally closing ground on wealthier households. It’s a bold claim heading into the midterms. It’s also one that several economists say the data don’t support.What Bessent is pointing to on the K-shaped economyBessent’s case rests on two pillars. First, he cited a 2% real wage gain for blue-collar workers, likely referencing a 2025 Treasury report showing blue-collar wage growth for hourly workers rose 1.7% during the first five months of President Donald Trump’s current term, the strongest such gain in nearly 60 years. “The only other time it has been this high was during President Trump’s first term,” Bessent said, describing a C-shaped economy “where the lower end of wage earners are finally calling it back, just like they did in President Trump’s first term.”Second, he leaned on the One Big Beautiful Bill Act, the tax package that introduced new, temporary tax deductions for workers receiving overtime pay and seniors on Social Security. The White House has promoted the law as delivering one of the largest tax cuts in history, with an average 15% cut for households earning between $15,000 and $80,000, according to the White House.More Economy:Bank of America CEO warns inflation will back Fed into a cornerBank of America just made a strong call on inflation, economyGoldman Sachs says Americans may pay for the AI boomThis framing isn’t new. At the American Bankers Association in April 2025, Bessent said “it’s Main Street’s turn,” as TheStreet reported. He has been saying versions of that ever since. The data just haven’t moved as fast as the talking points.The Federal Reserve Bank of Atlanta’s Wage Growth Tracker, a 12-month moving average by income quartile, showed the bottom 25% of earners posting 3.6% wage growth in June, and 3.9% for the top quartile. At no point in 2026 has bottom-quartile wage growth actually overtaken the top.Where the wage and tax numbers push back on Bessent’s claimsMoody’s chief economist Mark Zandi wrote last month that the K-shaped economy is still very much alive. His evidence: Fed data showing that households earning $200,000 or more grew their spending 6.5% in the year through Q1 2026, close to 4% in real terms, according to Fast Company.Meanwhile, the bottom 80% spent the same as the year before, after adjusting for inflation. Same dollars. Higher prices.The tax-cut math has also hit a wall at the gas pump. Goldman Sachs and Morgan Stanley both say the Iran conflict’s effect on fuel prices has eaten through most or all of what lower earners were supposed to gain from the One Big Beautiful Bill Act. Goldman puts the annualized household hit at around $140 billion. That wipes out a significant chunk of the promised windfall before it reaches anyone’s wallet.Then there’s the stock market, which has been doing a lot of the heavy lifting in this recovery. According to RSM Chief Economist Joe Brusuelas, roughly three-quarters of the spending generated by the AI-driven equity rally flows through the top income quintile. “If we are counting on the stock market to sustain the consumer economy, we are leaning on a channel that deepens the K-shape rather than offsets it,” Brusuelas said, according to CNN.Not every data point cuts against Bessent. Bank of America Chief U.S. Economist Aditya Bhave noted last week that consumer spending, excluding gas, had briefly stopped trending K-shaped on a year-over-year basis. But Bhave attributed that mostly to a favorable base effect and a temporary drop in gas prices, not a structural narrowing of the gap.

Moody’s Chief Economist Mark Zandi wrote last month that the K-shaped economy is still very much alive.Michael/Getty Images

A pattern of optimistic framingThis isn’t the first time Bessent’s public statements have run ahead of the underlying numbers. He recently told lawmakers that the federal deficit had already fallen to 5.5% of GDP, a figure Treasury has yet to reconcile with the Congressional Budget Office, which projects a 5.8% deficit for fiscal 2026. Treasury has not publicly detailed how it arrives at the lower figure.Even as he has talked down concerns about inflation and rates, the bond market has kept sending a different signal, with long-term Treasury yields holding well above where they started the year. That pattern matters here. Bessent’s K-shaped declaration isn’t just a talking point. It’s meant to reassure voters and markets that the benefits of this administration’s policies are reaching everyone, not just asset holders. The data suggest that reassurance is, at best, premature.The bottom line on the underlying economyBlue-collar wages are up. That’s real. But real wages being up doesn’t mean the K flattened into a C. The top quartile still outpaces the bottom on wage growth. Top earners are spending more; bottom earners aren’t. The equity rally keeps flowing to people who own equities. Bessent changed the letter of the curve, while economists say the shape is the same.Investors watching Washington for signals on consumer strength should treat Bessent’s declaration as aspiration rather than data. The economists tracking the actual numbers, from the Atlanta Fed to Moody’s to RSM, are telling a story that hasn’t changed nearly as much as the Treasury Secretary suggests.Related: Scott Bessent sends strong message on oil price and Iran

Grindr (GRND) just told investors that artificial intelligence (AI) now runs through everything it builds.On August 6, CEO George Arison walked through second-quarter results with a claim that stood out even in a market full of AI announcements. He said the dating platform now works as an AI-native company, from the code up.The numbers behind that claim are big, and so is the plan tied to them. Grindr is charging as much as $350 a month for a new AI companion feature. Arison says the technology is already paying for itself.For anyone who owns the stock, or is watching the dating app sector, the quarter raises one clear question. Does this AI story justify the price, or is the market right to wait and see?What George Arison revealed about Grindr’s AI shiftGrindr says its total engineering output rose about 2.5 times between July 2025 and April 2026. It did this without adding more engineers.To put that in perspective, matching that output the old way would have taken about 200 more engineers. More AI Stocks:Nvidia dominates AI chips, but BofA sees AMD closing inBank of America sends strong verdict to Meta stock investorThe AI honeymoon appears over amid stock sell-offThat would have cost roughly $60 million a year, according to the earnings presentation.Arison told CNBC the company’s strategy has always been to use AI everywhere it can. The engineering team relies on coding tools built by Cursor, Anthropic’s Claude, and Devin.The cost of this shift is small next to the payoff. Grindr expects to spend about $6 million this year on the AI tokens that power these tools. Arison called it an easy trade.Why Grindr’s Q2 revenue growth backs the AI claimA strategy only matters if the results back it up, and the second quarter gave Arison plenty to point to.Revenue reached $138 million, up 33% from a year earlier, according to a press release. That beat Wall Street’s estimate of about $132 million.Paying users grew 16% to 1.4 million. Average revenue per paying user rose to $26.51. Together, those numbers show subscribers are staying and spending more, not just being squeezed by price hikes.The company’s management raised its full-year guidance because of this strong quarter. Grindr now expects 2026 revenue of about $540 million, up from $535 million, and adjusted EBITDA of about $232 million.The company also pointed to a first-quarter partnership with Madonna as a boost to its cultural reach. 

Grindr CEO George Arison says the company now operates as an AI-native organization after rebuilding its engineering around generative AI.SOPA Images / Getty Images

The EPS miss investors need to weighThe quarter wasn’t perfect. Grindr posted GAAP earnings of $0.10 per share. Analysts had expected about$0.14. That gap explains the market’s muted reaction. When strong revenue comes with a profit miss, investors tend to pull back, and Grindr shares slipped in the days around the report.The pressure also showed up in margins. According to Investing.com, adjusted EBITDA margin came in at 42%, down from 43.4% a year earlier, as the company spent more to launch new products.Grindr is spending now to build features it hopes will pay off later. That payoff hasn’t shown up in profit yet.Grindr’s $350 Edge tier and the bet on premium AIThe most eye-catching new product is Edge, an AI companion tier Grindr is testing at prices up to $350 a month in markets like New York,  CNBC noted.That price is closer to luxury software than a typical dating subscription. It only makes sense if enough users see the app as essential, not optional.Early testing surprised the company in a good way. Arison said management expected only its highest-paying subscribers to upgrade to Edge. Related: Meta layoffs take disturbing turn in new lawsuitInstead, the data showed a wider mix of users moving up, including people who didn’t subscribe to anything before.Grindr hasn’t said how many users have signed up for Edge, or where the price will settle. How the stock performs in the near term depends a lot on whether this demand holds once the initial hype fades.Where Grindr wants to take the platform nextArison’s plan goes beyond dating. He wants Grindr to grow into a wider platform for the LGBTQ+ community. That means adding hotel bookings, local venue recommendations, and a dedicated health center through its Woodwork telehealth brand.This is the real case for holding the stock long term. A wider platform gives Grindr more ways to earn money from the same engaged users.The AI efficiency story feeds directly into that goal. Building new features for a modest token cost gives Grindr room to test products that would be too expensive to staff the old way, Business Insider reported.Whether that roadmap arrives on schedule is a separate question that investors will be watching through late 2026 and into 2027.The risks hiding inside the AI strategyJudging engineering success by how much code gets written is controversial. A heavily automated pipeline can create bugs, security flaws, or hidden technical problems that only show up later and frustrate users.Data privacy carries even higher stakes here. Grindr serves the LGBTQ+ community, so feeding chat histories into AI models requires strict rules around user consent. Any data breach could push users away and open the company up to legal risk.What to watch on Grindr before the next reportHere are a couple of things to watch out for before the next earnings report:Edge adoption: Will users keep paying premium prices for AI matchmaking once the testing period ends?Margins: Will spending ease up so revenue growth starts showing up in profit?User trust: Will Grindr’s AI data practices hold up without a privacy incident?Grindr just delivered a real growth quarter built on a bold AI bet. What happens next depends on whether that bet turns into profit, not just faster code.Related: Tech expert predicts an OpenAI collapse