I'm not dead! I’m getting better! – Consumer spending for September came in higher than expected (up 0.4%) while the number of jobless claims dropped to 241,000, below estimates and lower than a month ago. Both signs point to an economy that's still resilient, despite recession concerns as the Federal Reserve (Fed) begins cutting interest rates. (Source: CNBC)

Pick your poison – In their third cut this year, the European Central Bank (ECB) cut its key interest rate to 3.25%, widening the gap in benchmark borrowing costs with the Fed. The ECB is now more worried about supporting growth than snuffing out inflation, making cuts at consecutive meetings for the first time since 2011. (Source: The Wall Street Journal)

One foot in front of the other – Following two consecutive months of stagnation, the UK economy returned to growth in August, providing a slight boost as the Labour government prepares to deliver its first budget in late October. While the economy flatlined in June and July, the UK has recorded modest but steady expansion almost every month this year after emerging from a shallow recession at the start of the year. (Source: CNBC)

The name’s Bond, Active Bond – More than two out of three active bond funds beat comparable index funds for the 12 months ended in June, according to Morningstar’s most recent comparison of active and passive strategies. For key bond funds that form the bedrock of many investors’ portfolios, the story was even better: Nearly three in four intermediate-term core bond funds beat similar index funds. (Source: Barron’s)

Less hoops, less jumping – The Federal Trade Commission announced a new rule that will require companies to release consumers from a subscription as easily as they signed up in the first place. The new "click to cancel" rule will go into effect in 2025 and should help improve transparency and reduce frustration (and thousands of complaints each year). (Source: Forbes)

Is the Keystone State key? – With 19 electoral votes, Pennsylvania is yet again set to be a major deciding factor in the 2024 presidential election—and the candidates agree. In PA alone, both parties are set to spend $350 million just on television ads—$142 million more than the next closest state, and it’s the first state to hit $50 million in ad spending on Google this year. (Source: The New York Times)

Not great, but passing … I guess – When it comes to global pension systems, the US gets a C+ and ranks 29th out of 48 global pension systems according to the annual Mercer CFA Institute Global Pension Index. The lackluster standing is largely due to a sizable gap in the share of people who have access to (and make use of) a workplace retirement plan and premature usage of the retirement savings they do have. (Source: CNBC)

Ain’t no mountain high enough – At just 18 years old, a Nepali teenager has become the youngest person ever to scale the 8000ers—14 of the world’s tallest peaks sitting at over 8,000 meters tall each. The teen is the youngest person to complete the feat by a significant margin; the previous record holder finished climbing them in 2019 at age 30. (Source: The New York Times)

Now what do we say to our robot overlords … – New research reports that 48% of Americans think it’s important to be polite to artificial intelligence (AI) chatbots. While 27% of people think politeness doesn’t matter in these instances, some AI experts suggest that the chatbots may not react well to bad behavior as they’re built to mimic human reactions, and that could impact the quality of their answers. (Source: The Wall Street Journal)

Hot right out of the gates – Indiana Fever star Caitlin Clark has become the first rookie in 16 years to be named to the All-WNBA first team. This follows Clark being named the 2024 WNBA Rookie of the Year earlier this month after a record-breaking season: Clark broke the record for WNBA single-season assists, became the first ever rookie to record a triple-double, and holds the record for most three-pointers made by a rookie in league history. (Source: CNN)