• Electric car and power manufacturer, Tesla, saw volatile changes in stock price following CEO Elon Musk tweeting that he may take the company private. In just minutes, the stock price soared up by $25 per share only to fall downwards through the rest of August amid concerns of production and an SEC investigation.
  • The U.S. budget deficit in August was 21 percent higher than at the same time last year, while revenues rose only 1 percent. Reductions in corporate tax payments and increased spending on domestic and military programs are primary contributors to the change.
  • AT&T employees represented by the Communications Workers of America are rallying around a new analysis of the telecom giant’s Q2 earnings report, which estimates that the company has eliminated over 7,000 jobs since January. The Q2 earnings report revealed that AT&T has increased its spending on share buybacks to their highest level since 2014.
  • Americans’ consumer confidence rose to an 18-year high in August as current economic conditions continued to improve. Consumers are becoming more confident in their ability to find employment and spend more freely.
  • The U.S. and Mexico agreed on a new trade deal, paving the way for a revamped NAFTA. The agreement focuses on areas such as agriculture and automobile production while retaining the ability for American companies to operate in Mexico and Canada without tariffs.