🚂 Freight-rail fright

…and a baby bump for child tax credits (Tony Bock/Getty Images) Butting heads   Sponsored by Hey Snackers, Worse than a car alarm going off at 4 a.m.: dozens of robotaxis honking at one another at 4 a.m. Neighbors of a Waymo parking lot in San Francisco have complained of an [autonomous-car cacophony]( waking them in the wee hours. It’s self-driving them crazy. The market had a happy Monday. The S&P 500 sealed its [longest winning streak]( of the year with an eighth day in the green. Tomorrow we’ll get minutes from the Fed’s July meeting, and all eyes are on Jackson Hole ahead of Chair J. Powell’s speech on Friday.   FREIGHTENING [Canada’s looming rail shutdown could disrupt billions in North American trade]( Talks off track… Canada’s freight railroad could hit the brakes. Over the weekend, labor negotiations deadlocked between the Teamsters union and Canada’s two largest railroads, Canadian National Railway and Canadian Pacific Kansas City. The groups have been negotiating over wages, scheduling, and rail safety since November. Now the union said its 3K+ Canadian rail workers would strike on Thursday barring a last-minute agreement. The freight companies said they’d lock out union workers. - Full steam: Industry groups have asked Canada’s government to prevent the stoppage, saying it could affect millions of jobs and lead to billions in economic losses. The country’s labor minister refused to intervene. - Big deal, eh? Canada’s rail network moves $277B worth of goods each year, and Canada is the US’s biggest trade partner after Mexico. Stuck at a crossroads… The rail halt could disrupt business in the US, Canada’s largest trade buddy. One example: Morgan Stanley estimated the disruption could cost US mining heavyweight Glencore at least $100M/week (Canada’s a big coal exporter). Canadian freight companies are already pumping the brakes: last week Canadian National reportedly blocked container imports from US partner railroads. Canadian Pacific said that starting today it would halt all shipments leaving Canada and ones entering from the US. The rail giant said that while it’s trying to prevent a stoppage, it’s preparing itself to interrupt service next week. THE TAKEAWAY One halt can derail an economy… That’s why in 2022 President Biden made it illegal for rail workers to strike (and [blocked]( a rail strike that could’ve cost the US economy $2B/year). A shutdown of Canada's freight-rail system could cripple shipments including food, energy supplies, and chemicals to treat drinking water. But unions hope the movement will lead to real change for rail workers, who’ve long fought for better and safer working conditions. [Read this online]( Sponsored by Monogram Beyond Nasdaq… Monogram’s new investment potential [Monogram (Nasdaq: MGRM)](, known for its autonomous robotic surgical systems, completed a crowd funded public offering and NASDAQ listing last year. What’s next? They just filed for FDA approval to market and commercialize their patented AI joint replacement tech.* By the year 2027, 50% of knee replacement surgeries will be robotic. Now, Monogram’s offering [a new chance for investors](: the opportunity to invest in preferred stock with an 8% dividend yield (in cash or kind). Their common stock traded at a 52-week high of $5.15**, and its closing price on 8/19 was $2.70, but the unlisted preferred stock (which is convertible into one share of common) is available for $2.25/share. [Monogram currently plans to close the Series D Preferred offering on September 12, 2024](.*** **52-week range for MGRM is $1.53-$5.15 as of 8/19/24. Sponsored by Monogram Beyond Nasdaq… Monogram’s new investment potential [Monogram (Nasdaq: MGRM)](, known for its autonomous robotic surgical systems, completed a crowd funded public offering and NASDAQ listing last year. What’s next? They just filed for FDA approval to market and commercialize their patented AI joint replacement tech.* By the year 2027, 50% of knee replacement surgeries will be robotic. Now, Monogram’s offering [a new chance for investors](: the opportunity to invest in preferred stock with an 8% dividend yield (in cash or kind). Their common stock traded at a 52-week high of $5.15**, and its closing price on 8/19 was $2.70, but the unlisted preferred stock (which is convertible into one share of common) is available for $2.25/share. [Monogram currently plans to close the Series D Preferred offering on September 12, 2024](.*** **52-week range for MGRM is $1.53-$5.15 as of 8/19/24.   BOSS-BABIES [Both major political parties advocate for a $5K+ child tax credit as the US birth rate plummets]( Baby bump… POTUS candidate Kamala Harris [proposed]( that American families with kids be given up to $6K in tax breaks, up from the current $2K. Families with newborns would receive the max amount of $6K in their child’s first year. After that, Harris’ plan would restore a pandemic-era policy that allotted families up to $3.6K in breaks per child (with the amount depending on the family’s income ). Meanwhile, Donald Trump’s running mate, JD Vance, floated a $5K child tax credit that isn’t income-adjusted, saying “President Trump has been on the record for a long time supporting a bigger child tax credit.” - If nothing changes, the max child tax credit is set to be halved to $1K next year. Pandemic baby boost… we hardly knew ya. Last year, the US birth rate dropped to its lowest level since the CDC started tracking it in 1979, and nearly a fifth of childless adults under age 50 told Pew Research they didn’t plan on having kids for financial reasons. Each child costs middle-income families an average of $310K to raise to adulthood, a Brookings analysis based on kids born in 2015 found. A tax credit could lighten the load: while the pandemic’s boosted tax break was in place, the child-poverty rate fell by half to a historic low. THE TAKEAWAY Agreement ≠action… On the election trail, both parties’ candidates seem to support boosting the child tax credit. But Congress recently knocked down a proposal to expand the credit. The federal budget deficit is already massive, and it’s estimated a $3K to $3.6K tax break would cost $1.1T over the next decade (and a $6K newborn bonus would tack on $100B). Still, a dropping birth rate could hit harder, slowing the US’s economic growth and hamstringing public programs like Social Security. [Read this online](   REDACTED Uncharted: Which two fast food chains — one that’s nailed sales per restaurant, and one that’s mastered expansion — have we taken off this chart? ([Answer here](). ([Answer here]().   ON SHERWOOD [The diaper industry needs a change]( Diaper brands are being challenged not by a baby boom but by the graying of the globe. [Read more.](   Sponsored by Monogram 8% Dividend Yield Investment Opportunity [Monogram (Nasdaq: MGRM)]( is offering the public a separate issue of preferred stock with an 8% yield (in cash or shares of MGRM) that's convertible to its common stock. [Monogram currently plans to close the Series D Preferred offering on September 12, 2024](.*** Sponsored by Monogram 8% Dividend Yield Investment Opportunity [Monogram (Nasdaq: MGRM)]( is offering the public a separate issue of preferred stock with an 8% yield (in cash or shares of MGRM) that's convertible to its common stock. [Monogram currently plans to close the Series D Preferred offering on September 12, 2024](.***   What else we're Snackin' - 7-Eleven’s Japanese parent company [received a buyout]( offer. - Estée Lauder gave a [disappointing]( forecast on weak China demand. - GM is reportedly [laying off]( 1K+ workers in its software division. - FuboTV stock popped after a court [halted]( the launch of a rival sports streamer. - Workers are increasingly [bummed]( about wages.   Snack Fact of the Day [The average American young adult spends 3% of their waking time gaming](   Tuesday - Earnings expected from Lowe’s, Medtronic, XPeng, La-Z-Boy, and ZTO Express Authors of this Snacks own shares of: Apple, Disney, GM, and Warner Bros. Discovery Advertiser's disclosures: * A filing for FDA approval is no guarantee of an actual FDA approval. *** This is a paid advertisement for Monogram Technologies Series D Preferred Stock offering. A prospectus supplement and accompanying base prospectus have been filed with the SEC. Before making any investment, you are urged to [read the prospectus supplement and accompanying base prospectus](carefully for a more complete understanding of the issuer and the offering. The securities offered by Monogram are highly speculative. Investing in these securities involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Investors must understand that such investment could be illiquid for an indefinite period of time. There is no existing public trading market for the Series D Preferred Stock. Monogram does not intend to apply for listing of the Series D Preferred Stock or the common stock purchase warrants on a national securities exchange or quoted on an over the counter market. DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck.   [Instagram]( [Twitter]( [Sherwood Logo]( Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... [See more]( [Sherwood Terms and Conditions]( [Our Editorial Standards]( [Contact Us](mailto:hello@snacks.robinhood.com) [Advertise With Us](mailto:advertising@sherwoodmedia.com) [Unsubscribe]( [Privacy Policy](