Shares of banking giant HSBC Holdings fell as much as 7% on Tuesday as the lender revealed that customers are increasingly turning to higher-rate products.
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Now is the time to accumulate bitcoin, Galaxy says
Galaxy argues improving price trends, resilient ETF demand and rising U.S. debt support bitcoin’s recovery towards its previous high.
This Vanguard Fund Has Proved Its Defensive Chops
Key Morningstar Metrics for Vanguard Global Minimum VolatilityMorningstar Medalist Rating: GoldProcess Pillar: Above AveragePeople Pillar: Above AverageParent Pillar: HighVanguard Global Minimum Volatility Fund VMNVX is a well-executed low-volatility strategy with a track record of navigating market turbulence well.This systematic strategy uses an optimizer to create a less risky portfolio from the FTSE Global All Cap Hedged Index, a market-capitalization-weighted index that covers the large-, mid-, and small-cap segments of the global stock market. The optimizer considers stocks’ individual volatility and their performance correlated with other holdings. That holistic perspective favors steady companies while also creating room in the portfolio for more fickle stocks with unique performance patterns. The portfolio managers also fully hedge currency risk with forward contracts.Thorough constraints improve the strategy’s portfolio construction, even if they may weaken its defensive posture. The fund ties its stock- and sector-level allocations to the parent index. These constraints reduce concentration and ensure that the fund is not overly reliant on sectors like consumer defensive and utilities, which are favorites among simpler low-volatility strategies. Controlling for risk factors like size and momentum prevents unwanted factor wagers. While these guardrails may prevent the fund from building the most defensive portfolio possible, they ensure that no unintended bets undermine the low-volatility mandate.The portfolio management team makes trading decisions with consideration for the strategy’s compositional rules, the portfolio’s current volatility risk, and expected trading costs.So far, the fund has delivered on its low-volatility objective. The strategy, however, is likely to underperform in most market rallies because it cuts back on risk. Its rigorous portfolio construction process and thorough approach to risk should allow the fund to deliver on its minimum volatility objective over the long term, though.Vanguard Global Minimum Volatility: Performance HighlightsThe fund’s monthly returns typically fluctuate less than the category average. It was about 28% less volatile than the category average and captured just 53% of the market’s downside from December 2013 through September 2026, demonstrating its low-volatility prowess. This stability and downside protection did come with a modest trade-off, as the fund’s total return lagged its average peer by 27 basis points annualized over the same period.It had a 4.86-percentage-point edge over the category during the fourth-quarter market downturn of 2018. The fund also proved its defensive chops in the bear market of 2022, outperforming its average peer by 12.4 percentage points through the calendar year. When tariff concerns roiled the market in February, March, and April of 2025, the fund posted a positive return of more than 2.5% while the large-stock blend category lost 3.6%. In keeping with the expected performance pattern of a low-volatility fund, it has struggled to keep pace in the broad market rally since May 2025, trailing its category average by nearly 10 percentage points annualized through September 2026.
How a Fed interest rate pause would impact Main Street investors
Federal Reserve Chairman Kevin Warsh, despite dropping traditional forward guidance on interest-rate paths, recently said the central bank is focused on “removing a dose of accommodation.”
For retail investors, this means the era of artificially cheap money is over, and navigating a higher-rate normal is essential for portfolio strategy.
Markets expect the policymaking Federal Open Market Committee will decide on a hawkish pause at its Oct. 27-28 meeting, despite hiking short-term interest rates 25 basis points to 3.75% to 4.0% at its September meeting.
But strong economic vibes, supported by reporting from many Wall Street banks and the CME Group FedWatch Tool, indicate at least one more 25 basis-point hike as early as the next FOMC meeting Dec. 8-9 to mitigate persistent inflation.
Melissa Brown, global head of investment decision research at SimCorp, told TheStreet in an exclusive email interview that equity markets have woken up to the real risks of higher inflation and overly rosy revenue assumptions for AI-related companies.
“With no guidance to dispute the assumption, it seems likely long rates will stay higher for longer,’’ Brown said, adding that higher rates further into the future mean lower valuations right now for companies that rely on high-growth expectations.
“On top of that, higher government yields mean that current debt has to be issued at higher rates, suggesting that revenues have to be that much higher to cover the debt service,’’ Brown said. “This impacts all companies that issue debt, not just AI, although the amounts of debt they need to issue to finance the infrastructure buildout is enormous.”
Aptus Capital Advisors Portfolio Manager & Head of Fixed Income John Luke Tyner told TheStreet in an exclusive email that there is no doubt that both energy prices and AI borrowing have increased inflation metrics and pushed interest rates higher.
“We can see both of these dynamics moving markets, although last week showed a bit of a separation between oil prices and rates (moved in opposite directions) and more alignment between rates and some exhaustion within the AI spending frenzy,’’ Tyner said.
“This is definitely an interesting signpost and at least suggests that the last six months’ rise in rates, plus the Fed’s September hike, could have been a situation where the market did some of the work for the central bank,” Tyner added.
Fed’s expected rate pause balances its dual mandate
The Fed’s dual mandate from Congress requires maximum employment and price stability.
Yes, it’s a tricky balance of monetary policy because:
Lower interest rates support hiring but can fuel inflation. This risks fueling further inflation, potentially leading to an inflationary spiral.
Higher rates cool prices but can weaken the job market. This increases the cost of borrowing and further stifles economic activity.
How an interest-rate pause hits your wallet
The CME Group’s FedWatch Tool shows traders pricing in a roughly 10.5% probability of a Fed rate hike at its Oct. 27-28 FOMC meeting with expectations of an 82.3% probability of a rate hike by its Dec. 8-9 meeting.
The Fed’s September interest-rate hike, the first since January 2023, sent ripples through the entire financial system with the most immediate pressure hitting short-term borrowing such as variable-rate credit cards and student loans.
Related: UBS explains how looming Fed rate hike could impact your investments
Indirectly, it impacted fixed-rate mortgage rates which rely on Treasury yields plus corporate debt and capital investment.
The good news? Interest rates on savings accounts and CDs could see an increase.
Fed’s hawkish outlook focuses on inflation
Fed experts expect the FOMC to hold rates steady in October for three reasons:
Policymakers want more time to assess stubborn inflation.
Rising Treasury yields have already tightened financial conditions.
The cooling labor market argues against raising borrowing costs too quickly.
Plus, monetary policy alone will not offset rising energy prices from the Iran War, especially if the United States decides to escalate threats to resume military action.
WEBs ETFs CEO Ben Fulton told TheStreet in an exclusive email that the Fed will want time to further assess the impact of the September rate increase and the ever-changing energy and fuel prices driving inflation.
“Wait and see also keeps the Fed out of the political crosshairs that an increase the week before the midterm elections would incite,’’ Fulton said. “We are a long way from the 2% target inflation rate, yet the Fed is showing a firm grip on the economic levers it can deploy.’’
Related: Fed’s Waller does ‘about-face’ on interest-rate outlook as inflation surges
Designer Betsey Johnson takes $7 million SoCal home off the market
Betsey Johnson has taken her newly rebuilt Hidden Hills, Calif., home off the market after cutting the price once since it was listed in July.
Walmart is selling a 2-door outdoor storage shed for just $135
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 deal
While enjoying your backyard space can be relaxing, it can be difficult to feel fully relaxed if you don’t quite have your items in order. Whether you need to make some room for lawn tools, need to find a place for kids’ toys, or want to keep your gardening supplies safe and out of the elements, a walk-in storage shed can make all the difference. Sheds offer enough room to store large sports items, lawn care, and other accessories and tools to allow you to keep a tidy back porch while still being able to have what you need.
The Asofer Outdoor Storage Shed is a convenient option that offers enough space for your bicycle, lawn mower, or wheelbarrow without taking up too much of your yard. Originally $170, this shed is on sale for just $135 plus shipping right now at Walmart.
Asofer Outdoor Storage Shed, $135 (was $170) at Walmart
Courtesy of Walmart
Shop at Walmart
Why do shoppers love it?
The rust-resistant galvanized steel structure helps protect your items from rain, snow, sun, and wind, while also featuring vents to prevent humidity buildup that prevents your tools from growing mold and mildew. The sloped roof allows rain to flow right off, while the eaves shed rainwater without dripping it down the sides of the shed. The 78-inch peak height offers plenty of room for larger items like rakes or shelving for tools, and the 45-inch-wide double doors allow easy access to your larger items. The whole shed measures 74 inches across and 48 inches deep, providing a full walk-in option. This shed is a great addition for the garden, side yard, or back patio, and can even fit two-person patio sets to keep them safe in the winter or during the rainy season.
Related: Amazon has a bestselling metal storage shed with lockable doors for only $110
The shed does not include flooring, so it’s best placed on your deck or a cement slab, but it can also just work on the grass or dirt if needed. The lockable doors keep your items safe while you’re not around, and can prevent wind from blowing the doors open during storms. The shed also features plastic corner protection shells that keep you and your shed safe from accidents. The laser-cut components fit together easily, but reviewers have stated it’s way quicker with two people to assemble, and the set includes everything needed, including two pairs of gloves for safety.
The pros and cons of an outdoor shed
Pros
Material: The galvanized steel is rust-resistant and keeps your items safe from the elements.
Size: While the shed footprint is smaller, it still offers ample room for larger items like lawn mowers, small bistro sets, and more.
Cons
Colors: This shed is only available dark gray and brown.
It doesn’t include flooring: It’s best used on an existing cement slab or patio, but can also be placed on grass or dirt if needed.
“It’s perfect for outdoor storage,” one reviewer said. “After a few storms so far, it is still completely waterproof.”
Another shopper said, “This is the third one I have bought, and they all still do what I need them to do. They work great, are weatherproof, and hold up well in the sun.”
Shop more deals
Impact Outdoor Canvas Storage Tent, $102 (was $189) at Walmart
BaPiPro Outdoor Storage Shed, $95 at Walmart
The Asofer Outdoor Storage Shed is a solid choice for outdoor storage, whether you want to store seasonal items, toys, sports items, and more. It has enough room to walk in to find what you need, and it can fit other storage shelves inside. The rust-proof outer keeps your items safe and dry, and the doors can lock for extra protection. Walmart has this on sale for 21% off, plus shipping.
The impressive real estate portfolio of sitcom producer Chuck Lorre of ‘Big Bang Theory’ and ‘Two and a Half Men’ fame
Legendary TV producer Chuck Lorre is opening up about his life like never before with the release of his autobiography, “Sitcom: A Memoir.”
An AI label alone no longer wins lenders, JPMorgan says
As default insurance on several AI-linked firms hits record costs, companies must show they can finance investment, service the debt and eventually mint cash, JPMorgan says.
After 52 Fruitless Years Woodside Walks Away From Big Gas Find
Australia’s Woodside Energy has sold its 33.4% stake in the Greater Sunrise gas project to the government of Timor Leste.
Crumbl CEO says ‘it’s my fault’ after dirty soda with 130 grams of sugar flops
Crumbl once had America lining up for cookies. Now, the pink boxes are facing a much less sweet reality.
The Utah-born chain is closing stores, cutting staff, and confronting a sales slump that its CEO says starts at the top.
“The buck stops with me. It’s my fault where we are today,” CEO Jason McGowan told franchisees. An internal company document obtained by Restaurant Business showed that August sales were 70% lower than the same month two years earlier.
Foot traffic at Crumbl’s more than 1,000 locations fell 32% year over year, according to Placer.ai. At least 57 stores have closed in 2026, and the company cut much of its franchise support team.
The weekly cookie ritual that once kept customers coming back seems to be losing its pull.
Read More: Kohl’s adds a new way to shop, just in time for the holidays
Crumbl’s August sales dropped 70% from two years earlier
Crumbl expanded faster than demand could support. Average annual sales per store peaked near $1.84 million in 2022 before falling to roughly $1.14 million by 2025, according to Restaurant Business.
August 2026 delivered another blow, with multiple franchisees calling it the worst month in company history.
A Kentucky operator filed for Chapter 7 bankruptcy after closing its store, while dozens of other locations are listed for sale.
Outside pressures have added to the strain, including consumers cutting back on nonessential treats amid higher prices, fading excitement around weekly flavor drops, and the rising use of GLP-1 drugs. A PwC survey found that 61% of GLP-1 users are buying fewer sweet treats.
Still, McGowan has acknowledged that leadership decisions made the already challenging situation worse.
Crumbl once had customers lined up for new weekly flavors.Carmen K Sisson / Getty Images
The dirty soda experiment backfired for Crumbl
Dirty soda was supposed to be Crumbl’s next growth engine. McGowan pitched the drinks to franchisees in 2025, projecting a 20% sales lift. Operators invested thousands of dollars, and in some cases tens of thousands, in new equipment.
Instead, Restaurant Business says August’s dedicated Soda Week became the weakest week in Crumbl history.
More Restaurants:
52-year-old international restaurant chain closing all locations
46-year-old casual dining chain closes underperforming locations
Classic burger chain has closed down all its restaurants
Much of the backlash focused on the drinks’ extreme sugar content, particularly the 32-ounce “Crazy Cousins” charger, which combines Red Bull, Mountain Dew or Sprite, strawberry purée, pineapple, and coconut cream.
Social media claims put the drink at 186 grams of sugar and roughly 840 calories. Crumbl later told Today the actual figure was 130 grams, still a hefty amount.
Outside core Utah markets, the drinks failed to generate the traffic or higher spending Crumbl had expected.
Swig proves dirty soda can work
The dirty soda category itself isn’t the problem. The drinks, made with soda, flavored syrups, cream, and fruit, emerged in Utah more than a decade ago as an indulgent alternative to alcohol or coffee.
Swig, founded in St. George in 2010 by Nicole Tanner, is widely credited as the original dirty soda chain, The Wall Street Journal reported.
It has grown to more than 150 locations across more than 16 states and continues signing multi-unit franchise deals in markets ranging from the Chicago suburbs and Boston to New Mexico, Texas, and Florida.
The Larry H. Miller Company holds a majority stake in Swig, whose drive-thru model and small store footprints have attracted experienced operators.
Reality television, particularly “The Secret Lives of Mormon Wives,” boosted national awareness, but Swig was already expanding before the show amplified the trend.
McDonald’s and other chains cash in on the drink trend
While Crumbl struggled with its version of dirty soda, larger chains moved into the category. McDonald’s launched crafted sodas nationwide in early May 2026, including Sprite Berry Blast, Orange Dream, and a Dirty Dr Pepper topped with vanilla and cold foam.
Dunkin’, Taco Bell, and other chains have also tested or added their own versions, according to Fast Company. These brands treated dirty soda as an addition to existing menus rather than a major bet requiring expensive equipment and drinks with sugar levels that invited immediate criticism.
What’s next for Crumbl?
McGowan and co-founder Sawyer Hemsley announced in May 2026 that they would step back from day-to-day operations once replacements are in place, remaining involved at the board level, The Salt Lake Tribune noted. A new CEO, CFO, and head of marketing are expected.
Crumbl has turned toward value deals, including a $1.99 bundle pairing a 24-ounce zero-sugar dirty soda with a large Chocolate Chip Thin cookie, totaling about 170 calories. The company has also introduced a broader value menu with items starting at 99 cents at participating locations.
September brought some improvement during themed weeks, but sales remained about 50% below the level recorded two years earlier. Median monthly store profit stood at just $1,832, as reported by Restaurant Business.
Whether lower prices and a renewed focus on its signature cookies can stabilize roughly 1,000 remaining locations remains an open question.
Crumbl’s rise and stumble offer a reminder that viral fame can fill stores quickly, but the next big idea still has to give customers a reason to return.
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