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Wednesday, August 5, 2026
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Good Morning! On this day in 1914, the world’s first electric traffic light began directing cars at the corner of Euclid Avenue and East 105th Street in Cleveland. Drivers have been grumbling at red lights ever since.
In today’s Wisdom Wednesday, we’re spotlighting an article about people who never got a college degree and how that can actually work to their advantage. Unlike their college-educated peers, they don’t overthink; instead, they simplify problems, read the room more effectively, and spot opportunities more readily. Do you agree? Reply to let us know.
Here is a debate you don’t want to miss. Warren Buffett, the man behind one of history’s greatest fortunes, has an investing rule for everyday people, and it’s simple. He calls it the 90/10 rule, and it’s the same plan he wrote into his own will for his wife’s inheritance. But critics say it’s far too aggressive for retirees, and maybe for anyone who can’t stomach a downturn. So which side is right? Today on The Flyover Podcast, Ayla takes you inside both sides of the fight, plus what happened when one researcher put the rule through a 30-year stress test. Tune in here!
Today’s sponsor, Fisher Investments, is helping you plan your ideal retirement with a free guide that aligns your goals, timeline, and investment strategy for lasting financial confidence.
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Trump: Hormuz Reopening ‘Imminent’
A deal to reopen the Strait of Hormuz could come within days, Treasury Secretary Scott Bessent said Tuesday, sending oil prices lower after more than five months of war with Iran.
President Trump said he’s giving Iran a “last chance” before a far bigger strike. Tehran and Oman are negotiating new routes, plus a “service fee” on ships that the White House flatly rejected.
The strait remains dangerous: a cargo ship was abandoned Tuesday after being struck near Oman, the fourth vessel attacked since Friday.
Meanwhile, media reported that the U.S. Army has burned through “virtually all” of its long-range precision missiles during the war, raising readiness concerns if talks collapse.
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Hackers Hit Water Systems in 12 States
Cyberattacks have hit water and wastewater systems in at least 12 states, officials say, with an Iran-linked hacking group suspected of trying to disrupt American infrastructure as the war drags on.
The self-proclaimed “CyberAv3ngers,” which cybersecurity experts tie to Iran’s Revolutionary Guard, locked administrators out of more than 30 systems in Minnesota alone and blocked water from being pumped into towers. No supplies were harmed, but sources say hackers could have reached chemical dosing controls.
President Trump doubted Iran’s involvement, instead blaming “grossly incompetent” Minnesota leaders after an attack shut down a water plant there. Gov. Tim Walz shot back that “this is what modern warfare looks like.”
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Arson Arrest in Spokane’s Largest Fire
A Spokane, Washington, man was charged with arson for allegedly setting the Old Trails Fire, the biggest of three blazes that have destroyed at least 700 buildings and forced tens of thousands from their homes around the state’s second-largest city.
Aaron Farinacci, 37, was arrested Monday after a passing driver spotted him near the tree line minutes before smoke rose from the spot. Deputies found waterproof matches and a butane lighter in his fanny pack. He denies setting the fire, and a bond was set at $1 million.
Court records show Farinacci served about a decade in prison for killing his father in 2010 and was questioned about two fires last year. More than 1,000 firefighters are battling the blazes, with no deaths reported.
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The following stories are featured exclusively on The Flyover Podcast—a daily show that gives you the most important headlines in under 15 minutes. Clicking the links will take you directly to these stories:
➤ One of the world’s richest investors swears by a rule critics call dangerously aggressive for retirees. (Hear Details)
➤ Rising costs are forcing a record number of young professionals back into their parents’ homes. (Hear Episode)
➤ The death of a young woman at a New York med spa is exposing a booming and largely unregulated industry. (Listen Now)

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➤ Twenty-five states sued over President Trump’s new 10%-12.5% tariffs on 59 countries and the EU, arguing they’re a “pretext” to revive levies the Supreme Court struck down in February. (See Details)
➤ The Senate Judiciary Committee advanced Todd Blanche’s attorney general nomination after he scrapped the $1.8 billion “anti-weaponization” fund that had stalled key Republican votes. (See Details)
➤ Wisconsin governor hopeful Francesca Hong defended her deleted post urging America to “cancel Thanksgiving,” telling CNN that “views can evolve” ahead of next week’s Democratic primary. (See Details)
➤ Former White House press secretary Stephanie Grisham sought a temporary restraining order against Rep. Max Miller, R-Ohio, the latest turn in the abuse allegations surrounding the congressman. (See Details)
➤ Miller, meanwhile, took the unusual step of asking the House Ethics Committee to investigate him, resisting pressure to resign over his ex-wife’s domestic violence allegations. (See Details)
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13 Risks to Your Retirement Investment Plan
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A financial adviser who understands your unique needs can help reduce unnecessary risk and keep you on track. Schedule a call with one of our experienced professionals to discuss gaps and opportunities in your strategy. In the meantime, download 13 Retirement Investment Blunders to Avoid to help refresh your investment plan and prepare for your conversation.
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➤ Atlanta Falcons running back Bijan Robinson agreed to a three-year extension worth up to $75 million, ending a weeklong hold-in at training camp and making him the highest-paid running back in NFL history. Robinson’s $51 million in guarantees is a position record. (More)
➤ LSU football reportedly closed a $100 million-plus deal with an unnamed private equity group, trading roughly 10% of the program’s value for cash tied to future media rights. (More)
➤ UFC flyweight Allan Nascimento died this week of an apparent heart attack in his sleep. The 34-year-old Brazilian had a 22-7 career record and last fought on June 20. (More)
➤ LAFC co-owner Larry Berg was named the next MLS commissioner this week and will take over at the start of 2027. He succeeds Don Garber, who’s led the league since 1999 and under whom the MLS grew to 30 clubs. (More)
➤ Miami football gave head coach Mario Cristobal a long-term contract extension this week after the Hurricanes reached the national championship game, although details are still under wraps. (More)
➤ Yesterday’s Results: MLB | Soccer | WNBA | Tennis | Little League Softball World Series
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Daily Market Report 08/04/2026
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NASDAQ National Association of Securities Dealers Automated Quotations |
26,584.99 |
2.59%
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SPX S&P 500 |
7,736.52 |
1.79%
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DJI Dow Jones Industrial Average |
54,085.88 |
1.71%
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BTC Bitcoin |
$64,311.77 |
1.34%
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GOLD Per Ounce |
$4,134.30 |
2.49%
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SILVER Per Ounce |
$59.72 |
3.56%
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OIL West Texas Intermediate Crude |
$75.33 |
-6.24%
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W Wayfair Inc |
$116.08 |
+29.97%
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Bitcoin, gold, silver, and oil are traded 24 hours a day.
➤ Big Stock Move: The stock of Wayfair rose almost 30% after the furniture company posted its strongest U.S. growth since the pandemic during its second quarter. (More)
➤ Toyota’s quarterly profit nearly doubled to $9.4 billion, powered by the same weak yen Washington and Tokyo just teamed up to prop up. (More)
➤ SpaceX shares jumped almost 10% ahead of its first earnings report since June’s record IPO, with the stock still down sharply from its $150 debut and insider shares unlocking this week. (See Details)
➤ Buc-ee’s is suing an Ohio mini-mart over its smiling cartoon beaver, two days after John Oliver mocked the chain’s streak of lawsuits and dared it to sue him instead. (More)
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Flying together with our sponsor
Avoid These Costly Retirement Mistakes
A financial adviser who understands your unique goals can help reduce unnecessary risk and keep you on track. Schedule a call with one of our professionals to discuss gaps and opportunities in your strategy. In the meantime, download 13 Retirement Investment Blunders to Avoid to start refreshing your investment plan.
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➤ Psychologists are beginning to understand “grief attacks,” sudden, all-consuming waves of sorrow that ambush mourners without warning. One researcher began studying them after experiencing his own. (More)
➤ A new chewing gum cut HPV levels by up to 93% and nearly wiped out two bacteria tied to head and neck cancer, while sparing the mouth’s good bacteria. (See Details)
➤ Chinese scientists propose planting nuclear bombs inside threatening asteroids: simulations show a 300-kiloton blast could destroy a 164-foot space rock, and many uncatalogued “city-killers” currently swarming Earth. (See Details)
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➤ Many people blame age or a slowing metabolism for stubborn weight gain, but declining GLP-1 levels may also play a role. Discover why losing weight can become more difficult after 50 and learn about a natural botanical that may help support your body’s own GLP-1 production. Learn more
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Wisdom Wednesday is brought to you by:

➤ Your brain remembers enemies better than friends: viewers who watched just six episodes of a TV drama mapped characters’ rivalries more sharply than their friendships. (Read Why)
➤ A new list counts nine things people without college degrees usually do better than the highly educated, from reading a room to spotting overlooked opportunities. (See List)
➤ Psychologists say “high-class” people use one specific phrase to say goodbye, because we remember the end of a conversation far more than the beginning. (See Phrase)
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➤ A wasp nest roughly 3 feet tall has taken over a British wildlife trust office, swallowing the ring binders on its shelves. (See Photos)
➤ A tiny Canadian town is finally removing 110 tanks of fermenting fish sauce, a local plant abandoned 20 years ago, leaving an odor the mayor calls “the worst rotted fish you ever smelled in your lifetime, times 100.” (More)
➤ Competitive chili eating has quietly become a global sport where athletes with names like “Fiery Redd” follow strict training regimens and battle through 10 rounds of peppers hundreds of times hotter than a jalapeño, all in a scene fans describe as strangely wholesome. (See Details)
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Have you ever been evacuated?
- Yes (reply to tell us)
- No
Yesterday’s Results:
When was the last time you saw a movie in a theater?
- Been a few years now: 43%
- This past year: 24%
- Within the past month: 19%
- I stick to the couch: 14%
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Daily Quote
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“As it happens in so many critical cases, it was citizens who were paying attention to their surroundings, being aware and willing to step up and say something that led to the relatively quick apprehension…”
— John Nowels, Spokane County sheriff, on the passing driver’s tip that led to an arson arrest in the largest of the Spokane-area wildfires
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