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Aviation fanatic and actor Guy Kapulnik has been identified as one of two who died in a SoCal airplane crash last week.

A new study suggests that a staggering 2.3 million new cancer cases around the world in 2024 — about 12% of new cancer cases — can be attributed to infectious diseases.

Core PCE Prints Cooler Than Expected Due To Change In Methodology, As Savings Rate Plunges To 3 Year Low

Ahead of today's closely watched core PCE report - the Fed's (reportedly) favorite inflation indicator (although that will probably shift to Truflation after Kevin Warsh's task force is done with analyzing the data), which was seen by many as deciding whether the Fed will hike in October and December, or just December as NY Fed president John Williams strongly hinted yesterday, we warned readers that PCE may surprise to the downside: "the Bureau of Economic Analysis updated methodology for calculating inflation in three components is expected to trim August year-on-year change by a few tenths of a percentage point."

Why PCE may surprise to the downside: the Bureau of Economic Analysis updated methodology for calculating inflation in three components is expected to trim August year-on-year change by a few tenths of a percentage point.

— zerohedge (@zerohedge) September 30, 2026

And surprise it did, because despite rampant energy inflation and record diesel prices, headline PCE came in line sequentially, printing up 0.3%, in line with expectations but coming in far cooler than expected on an annual basis, rising just 3.4%, vs expectations of a 3.7% print.

The MoM jump in headline PCE was driven by services, a reversal from last month's drop, largely due to the spike in communication and education services.

But it was the far more important core PCE, which strips out volatile energy and food prices, that rose 0.2% MoM (technically 0.247%, below the +0.3% MoM expected) with a notable miss in the YoY print, which dropped to +3.0% from the unrevised 3.3% (now revised to 3.0%), missing estimates of a 3.3% print.

Within core, the biggest jump was again communications and education services.

Ominously, the much-watched SuperCore PCE (Services ex-shelter) saw price inflation reversed the recent drop on a YoY basis, while surging 0.4% on a MoM basis...

... driven by a record surge in "Other Services" (+0.9%)...

.. which in turn was the result of a surge in cell phone plans costs, and a record jump in education costs!

Commenting on the data, David Russell, Global Head of Market Strategy at TradeStation said that "this is good news for investors worried about the recent surge in bond yields, and it bolsters the case for not hiking in October. We might have seen peak hawkishness from the Fed given the recent jump in rates. However, it’s also relatively old data at this point that doesn’t reflect this month’s surge in diesel prices. Investors will remain wary of energy prices as we enter a key period of fuel consumption."

The inflation-boosted prices were met with much higher spending (+0.9% MoM notional, in line with estimates and up from 0.1% in July) while income growth was dangerously lower, failing to keep up with spending, and rising just +0.2% MoM, which was down from 0.3% in the previous month and missed estimates of 0.5%.

The surprising spike in spending not supported by income, meant that the freshly revised savings rate tumbled again, dropping from 4.6% in July to just 4.1% in August, the lowest since Nov 2022.

While spending growth rose again, Income growth is now the lowest since April 2022!

In other words, once again US consumers are failing to keep up with inflation and they can do so only - and temporarily - by digging deep into their savings.

Finally, while the core PCE was indeed lower than expected, recall that as we said above, this is mostly due to a change in methodology. Today, the Bureau of Economic Analysis released its updated PCE deflator methodology, which has been applied retroactively through Q1 2021, with RBC estimating that core PCE’s annual pace is expected to fall 18bps, which would revise July’s reading to 3.1% from 3.3%. They were spot on. 

RBC analysts also aid that three changes drive this: portfolio management services will use a CES-based quantity series instead of nominal price deflation; computer software will use a new composite PPI/CPI deflator; and legal services will use a new deflator after the current CPI measure proved unreliable.

In other words, today's welcome "miss" in core PCE is likely not due to lower prices but due to spreadsheet changes and rebenchmarking. 

Tyler Durden Wed, 09/30/2026 - 10:12

Fans have aired their complaints on NFL U.K.’s social media posts.

Maybe background music is the new wave of baseball broadcasts.

Since pinning the three-page Google form to her Instagram bio in late August, Patterson’s targeted search for a spouse has garnered 241 submissions.

AI needs "rigorous" testing and safeguards to contain risk, Andrew Bailey says.

The "Mission: Impossible" star recalled meeting both the Prince and Princess of Wales at the world premiere of "Digger" in London last week.

The "Mission: Impossible" star recalled meeting both the Prince and Princess of Wales at the world premiere of "Digger" in London last week.

Apple's $2,000 Foldable iPhone Could Sell 6 Million Units, Counterpoint Says

Counterpoint senior analyst Ivan Lam expects Apple to sell about 6 million units of its first foldable iPhone this year. The estimate offers an early sentiment gauge of potential demand for Apple's first-ever foldable handset, priced at roughly $2,000.

The iPhone Duo sales forecast hinges on Apple's ability to ramp up production, Lam said, according to Bloomberg News. The new foldable iPhone is scheduled for release in October.

Separately, market research firm IDC expects global foldable shipments to rise 13% to 22.9 million units this year. Without Apple’s iPhone Duo, that segment would slide into a contraction.

Initial iPhone 18 Pro family sales rose 12% compared with the iPhone 17 Pro launch, according to Lam. That performance helped Apple capture a 33% share of China's smartphone market during the period tracked.

However, iPhone 18 sales signals in China are mixed. Edison Lee, Jefferies' head of China and Hong Kong technology and software research, commented on the launch on Monday, saying, "Weak 18P/PM resale prices vs. 17P/PM remain our clearest sign of softer demand, despite a weekend rebound in lead times that could reflect tighter supply as DUO ramps."

Lam pointed out, "Price hikes of over $200 on many Chinese flagship models may have raised the price anchor, strengthening the iPhone’s relative value proposition." That's good news for Apple as the price gap between its phones and those of domestic brands narrows, making its premium prices easier to defend in an overall soft market.

For Apple, the US launch clashes with a souring consumer backdrop. The Conference Board’s Consumer Confidence Index plunged in September to its lowest level since April 2014, while elevated gasoline and diesel prices continue to squeeze household budgets.

The question is whether cash-strapped consumers can afford $2,000 for a foldable iPhone. Vision Pro's disappointing launch a few years back offers a cautionary tale.

If the Duo struggles to attract consumers beyond wealthy first adopters, Apple's new CEO could face an early test of the company's push further upmarket.

Tyler Durden Wed, 09/30/2026 - 10:00

It’s do or die for the Phillies on Wednesday. 

Netflix's new true crime doc covers the case of the "black widower."

Get up to $2,000 bonus with Kalshi promo code NYPMAX2000.

“Virtual Reali-Tea” co-hosts Danny Murphy and Evan Real unpack season 16, episode 4 of the “Real Housewives of New York City.” Hailey Glassman explodes over Erin Lichy’s shady Jon Gosselin digs. Carole Radziwill calls out “dingbat” Jessel Taank for resurfacing the CBK conversation, and Daisy Tolle and Sai de Silva face off. “Real Housewives of...

“Virtual Reali-Tea” co-hosts Danny Murphy and Evan Real unpack season 16, episode 4 of the “Real Housewives of New York City.” Hailey Glassman explodes over Erin Lichy’s shady Jon Gosselin digs. Carole Radziwill calls out “dingbat” Jessel Taank for resurfacing the CBK conversation, and Daisy Tolle and Sai de Silva face off. “Real Housewives of...

Alas, the movie will mark the end for Warner Bros. as a stand-alone studio. Within days, it'll become part of the Paramount merger. 

The “It Ends With Us” actress has signed with Kelly Bush Novak -- the CEO and founder of publicity powerhouse ID -- Page Six Hollywood has learned.

The actor and his wife, Kim Painter, shared their "deep" heartbreak in September 2026 after 13-year-old daughter Fiona's death.

The actor and his wife, Kim Painter, shared their "deep" heartbreak in September 2026 after 13-year-old daughter Fiona's death.

Kennedy Touts AI Over Doctors At Industry-Backed Summit

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

Health Secretary Robert F. Kennedy Jr. on Sept. 29 touted artificial intelligence (AI) for people making medical decisions at a summit sponsored by AI companies, drawing criticism from some doctors.

Health Secretary Robert F. Kennedy Jr. speaks in Dallas, Texas, on Sept. 10, 2026. Kevin Dietsch/Getty Images

Kennedy, during an appearance at an event in Washington called the MAHA Summit, said he recently met with OpenAI CEO Sam Altman. Altman, he recalled, told him that “today it would be malpractice for a doctor to make a diagnosis or make a prescription without at least checking AI.”

Kennedy went on to reiterate the goal of giving Americans access to their medical records and described how AI could summarize lengthy records.

“You may have a medical record that’s a thousand pages long. You have six minutes with a doctor today. He’s not going to be able to review it, but the AI can. And … it can distill it,” Kennedy said. “It can give you a second opinion that is much better informed than any doctor in the country.”

Kennedy, a harsh critic of public health advice on masks, vaccines, and other matters during the COVID-19 pandemic, said one benefit of AI is that it could correct such advice from presumed experts.

“So it really has the capacity to dominate us to free us from medical tyranny,” he said.

AI companies, including OpenAI and Anthropic, sponsored the summit in part. An OpenAI executive spoke during a session called “Building the AI Health Stack.”

The comments came as President Donald Trump and other top administration officials promote AI adoption. Trump, who has said it is important for the United States to remain ahead of adversaries such as China on AI, also signed a voluntary accord with AI executives earlier Tuesday.

AI provides answers to questions, including medical ones. Multiple lawsuits are pending in court over allegations that medical advice from AI led to catastrophic outcomes, including one from a Florida pastor against OpenAI, who alleged a chatbot instructed him not to seek medical attention when he developed symptoms such as severe dizziness.

Kennedy’s remarks prompted criticism from some doctors.

“AI is programmed to give you the current narrative pushed by ‘the experts’,” Dr. Jeffrey Dach, a Florida physician, wrote in a Sept. 30 post on X. “This means we get a rehash of the same lies and garbage we are being fed by the ‘experts’ and ‘authorities’ in government agencies captured by industry, and lies and garbage from the captured mass media. AI is merely a souped up search engine that hallucinates answers when it is lost.”

Dr. Joe Pierre, a professor of psychiatry at the University of California San Francisco, noted that he ran Kennedy’s comments by ChatGPT, OpenAI’s chatbot.

“If his claim is AI is more reliable than MDs when giving people medical advice, the evidence doesn’t establish that,” ChatGPT responded. “In fact, some of the best real-world evidence points in the opposite direction.”

Kennedy noted downsides of AI, asking Vice President JD Vance, who appeared with him, to elaborate.

“Most of the downsides are all related to models that were literally trained to hack into your computer,” Vance said.

He said the best way to deal with the risks is to ensure companies are not shielded from product liability claims through regulations.

Tyler Durden Wed, 09/30/2026 - 09:40