🚚 Texas-border bottleneck

…and West Maui reopens to tourists after wildfires   Time to start that “Infinite Jest” audiobook (Guillermo Arias/Getty Images)   [Sponsored by]( Yesterday’s Market Moves   Dow Jones 33,739 (+0.40%) S&P 500 4,358 (+0.52%) Nasdaq 13,563 (+0.58%) Bitcoin $27,430 (-0.61%) Dow Jones 33,739 (+0.40%) S&P 500 4,358 (+0.52%) Nasdaq 13,563 (+0.58%) Bitcoin $27,430 (-0.61%) Hey Snackers, “The Exorcist: Believer” was poised to be a hit (you’ve seen the terrifying billboards) but it’s getting a scare as “Taylor Swift: The Eras Tour” [threatens]( its box-office success. “ExorSwift” = the new Barbenheimer? Stocks closed higher yesterday after a Fed official said more rate hikes wouldn’t be needed to tame inflation. After briefly popping following Hamas’ attacks on Israel, oil prices softened. LoneStuck Thousands of cargo trucks are stuck waiting for inspections at the Texas-Mexico border Border bottleneck… This spooky szn, one line is way longer than the Haunted Mansion’s. After [lengthy inspections]( rolled out last month, cargo trucks crossing from Mexico → US have been queuing at the border for up to 24 hours. The Mexican gov’t estimates 19K trucks carrying nearly $2B worth of goods have been stuck there, with reports saying the holdup has cost exporters $1.1B. - “Operation Lone Star”: Texas’ truck checks are part of Gov. Greg Abbott’s plan to intercept smuggled migrants and drugs as the US tightens control of its southern border. Last week, President Biden said he was expanding the physical wall in Texas. - Déjà view: When the Texas gov’t increased truck inspections last year, protesting businesses swayed it to shift into reverse within a week. On Monday, Mexico’s biggest trucking group called the inspections “absurd.” Spoiled guac… Everything from cars and computer parts to oil and beverages (including tequila) is imported from Mexico… not to mention 80% of America’s avocados. Mexico recently surpassed China as the US’s No. 1 trading partner, with exchanges totaling $863B last year. Trade with Mexico is also an integral part of Texas’ economy, which imported $141B of goods from its neighbor last year. THE TAKEAWAY Friction isn’t good for business… Idling trucks keep factories waiting for components, crimping US supply chains far beyond the Lone Star State. And there could be long-term biz implications: last year’s inspections led Mexico to nix plans to build a new trade corridor in Texas. Meanwhile, the Biden admin is pushing ahead with efforts to have more goods made in America as it pulls back on trade with its other big partner, China. Sponsored by RYSE Invest in the next AI innovation to make smart homes even smarter ➡️ Big Tech acquired startups in the smart doorbells and smart thermostats category for billions. If you missed out on these spectacular early investments in the Smart Home space, here’s your chance to grab hold of the next one. 😎 RYSE is the tech firm that’s poised to dominate the Smart Shades market (growing at an astonishing 55% annually), and their public [$1.25/share offering is opening for a limited time!]( 🌿 Going Green… Leveraging advanced sensors and AI, [RYSE]( converts manual shades into automated shades to maximize energy savings — up to 24% on cooling and lighting in commercial buildings. They’ve just secured their first retail distribution deal, and you can invest in their company before their product stocks the shelves of over 100 Best Buy stores this year. [Learn more about how you can own a piece of RYSE for just $1.25/share.*]( Reopened West Maui reopens as natural disasters and high temps take a toll on tourism Travel guidance lifted… A Hawaiian state order discouraging travel to West Maui was lifted this weekend, two months after wildfires raged through the area, killing at least 98 people and burning 2.1K acres. A phased [reopening plan]( is in place, but with schools still closed and thousands living in temporary housing, the decision was met with strong resistance from some residents. - Check-ins: Five hotels in the region have begun accepting reservations. Occupancy rates are at about 12% and are expected to slowly climb to 32% by mid-November. - Work/life: About 40% of Maui’s GDP is tied to tourists, who spent $3.5B on the island in the first half of the year (supporting thousands of jobs). 8K+ residents are now out of work and Maui has lost $13M+/day since the fires. - Pushback: 17K people signed a petition to delay the reopening date, criticizing the plan for not adequately consulting locals, some of whom have been temporarily housed in hotels. From Maui to Malaga… European wildfires spreading at peak travel season, knee-high flooding at Burning Man, and 116-degree temps on the Spanish coast are just a few of the climate events that’ve recently upended tourism. After the world’s hottest summer on record, vacation favorites (reliant on tourist $$) like coastal Greece and Italy could see visitor drop-offs of up to 10%. Elsewhere, colder regions like Bulgaria and Greenland are anticipating more tourists in the years ahead. THE TAKEAWAY Overreliance can lead to vulnerability… While overrtourism is an ecological risk and a nuisance, a drop in visitors could be hard on areas that rely on vacationers. As extreme weather and climate disasters intensify, tourist destinations may find themselves overexposed to the economic effects. To offset losses, some places — like Venice and the Galapagos Islands — are introducing tourism fees to help pay for natural preservation. What else we're Snackin' - [Green]( California Gov. Gavin Newsom signed a bill that’ll require large companies (like: [Apple]( [Disney]( and [Chevron]( to report their carbon emissions. The SEC’s working on similar federal rules. - [Fizz]( [Pepsi]( stock bubbled up after the snack and soda giant raised its annual outlook. It had stronger-than-expected sales growth as consumers stomached higher-priced Cheetos, Lay’s, and Gatorade. - [Penned]( After a 148-day strike, the writers’ union officially ratified a fresh three-year contract with Hollywood studios. The deal includes pay bumps, AI protections, and a new streaming residual system. - [Smoked]( SCOTUS said it wouldn’t hear a vape co’s challenge to the FDA’s ability to regulate flavored e-cigs. Nicotine vapes have become an $8B+ market, despite the regulator’s crackdown on non-tobacco flavors. - [Block]( Israeli officials said they worked with Binance to freeze crypto accounts tied to Hamas. Wallets linked to Hamas had received $41M in crypto between mid-2021 and this June. 🍪 Thanks for Snacking with us! Want to share the Snacks? Invite your friends to sign up [here](. Snack Fact Of the Day Austin, Dallas, and Houston have the highest office-vacancy rate of major US cities: 25% [Read more]( Wednesday - September Producer Price Index report Authors of this Snacks own shares of: Apple and Disney *Advertiser's disclosure: This is a paid advertisement for RYSE's Regulation A+ Offering. Please read the [offering circular]( at [invest.helloryse.com]( and [risks]( prior to investing. 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 Principles]( • [Contact Us](mailto:hellosnacks@sherwoodmedia.com) • [Privacy Policy]( • [Advertise with us](mailto:advertising@sherwoodmedia.com) [Unsubscribe](