TLDR

MARKET RECAP → The Nasdaq Composite (QQQ) reached an all time high on Monday as tech & AI stocks continued to lift the market higher. Meanwhile, traders geared up for two important inflation reports this week and a Fed interest rate decision next week (9/17).

🛰️ ECHOSTAR STRIKES SPACEX DEAL → EchoStar (SATS) sold 28 GHz spectrum to SpaceX and signed a commercial partnership, boosting Starlink while giving SATS fresh capital and a strategic reset in the satellite internet wars.

🤝 TRADE TENSIONS MOUNT → The Supreme Court will rule on Trump’s tariffs, and if they’re overturned, the Treasury could owe tens of billions in refunds while businesses scramble to cash in.

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MARKETS

Market Snapshot

Today’s S&P 500 Heatmap

Notable Earnings This Week

TECH

EchoStar Strikes SpaceX Deal

📡 EchoStar sells spectrum. EchoStar (SATS) is offloading a slice of its 28 GHz band spectrum licenses to SpaceX, giving Elon Musk’s company a bigger runway to expand Starlink’s satellite internet footprint. Financial details weren’t disclosed, but analysts see it as a notable consolidation of space-based bandwidth.

🚀 Commercial agreement sealed. Beyond the spectrum sale, EchoStar inked a multi-year commercial partnership with SpaceX to explore ways Starlink can enhance connectivity for EchoStar customers. It’s a win-win: SpaceX scales capacity, EchoStar taps Starlink’s tech to improve its offerings.

💰 Strategic repositioning for SATS. EchoStar has been reshaping its portfolio since merging with DISH last year. Monetizing spectrum while locking in a partnership with the sector’s heavyweight signals a pivot toward collaboration over competition in the satellite broadband race.

ECONOMICS

Trade Tensions Mount

🏛 Supreme Court takes the case. Trump’s sweeping “reciprocal” tariffs face a high-stakes legal showdown, with the Court expected to decide this fall whether the White House overstepped its authority. A ruling could reshape U.S. trade policy overnight.

💸 Billions in refunds on the line. Treasury Secretary Scott Bessent warned that if the tariffs are struck down, the government might have to return about half the duties collected—tens of billions of dollars—calling it “terrible for the Treasury.”

📦 Businesses prepare refund claims. Importers from cookware to electronics are already gearing up to file for rebates. Experts say it could turn into one of the most complex refund operations in U.S. history.

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