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As inflation subsides, Social Security beneficiaries are poised to see a lower benefit increase next year.
A new estimate points to a 2.5% cost-of-living adjustment, or COLA, in 2025, which would be closer to the average increase beneficiaries typically receive.
The Social Security Administration is expected to announce the official cost-of-living adjustment for 2025 next month.

Patchareeporn Sakoolchai | Moment | Getty Images

Social Security beneficiaries have seen higher cost-of-living adjustments in recent years, prompted by record high inflation.
Yet next year’s increase may not be as generous.

Based on new government inflation data, beneficiaries may see just a 2.5% increase to benefits in 2025, estimates Mary Johnson, an independent Social Security and Medicare analyst.
In 2024, more than 71 million Americans — including Social Security and Supplemental Security Income beneficiaries — saw a 3.2% cost-of-living adjustment, according to the Social Security Administration.
A spike in inflation drove the annual benefit boost even higher in 2023, when there was an 8.7% increase, the highest in four decades. That followed a 5.9% raise in 2022, which at the time also marked a recent high.
In 2021, the cost-of-living adjustment was 1.3%.

If a 2.5% COLA goes into effect in 2025, it would be about average, according to Johnson.

Importantly, the estimate for the 2025 Social Security cost-of-living adjustment is subject to change.
The Social Security Administration is poised to announce the official increase to benefits in October. That will include new government inflation data for September. The current 2.5% estimate has about a 17% chance of increasing and a 13% chance of decreasing, according to Johnson.
The annual Social Security cost-of-living adjustment is calculated using third-quarter data from a subset of the consumer price index, known as the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W.  
Two factors tend to affect the net amount retirees receive from Social Security amid high inflation, the Center for Retirement Research at Boston College has found – taxes on benefits and Medicare Part B premiums.

Trump calls for ending taxes on benefits

Up to 85% of Social Security benefits may be subject to federal income taxes.
Those taxes are applied to combined income, which is the sum of half your Social Security benefits, total adjusted gross income and nontaxable interest.
Because those thresholds do not change, more beneficiaries are paying taxes on benefits over time.
Former President Donald Trump has called for ending taxes on Social Security benefits as part of his campaign platform.
Trump re-upped his plans to “help seniors on fixed incomes” with “no tax on Social Security benefits” in a post on his social media platform, Truth Social, on Sept. 9.

Currently, if your combined income as an individual tax filer is between $25,000 and $34,000 — or between $32,000 and $44,000 if married and filing jointly — you may pay taxes on up to 50% of your benefits.
If your combined income is more than $34,000 and you file individually — or if you’re married and file jointly and have more than $44,000 in combined income — up to 85% of your benefits may be taxed.
Trump’s plan to eliminate those taxes would have consequences for both the Social Security and Medicare Hospital Insurance trust funds, according to the Committee for a Responsible Federal Budget, with deficits increasing by an estimated $1.6 trillion to $1.8 trillion through 2035.
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Eliminating taxes on Social Security benefits is a “supremely unhelpful idea,” since that money helps cover the program’s spending and helps make it progressive, Alicia Munnell, director at the Center for Retirement Research at Boston College, recently wrote.
However, taxes on benefits could be better structured, with new income thresholds indexed for inflation and adjustments to the share of benefits to be included in adjustable gross income, according to Munnell.
Trump’s campaign did not respond to an immediate request for comment.

Medicare Part B premiums becoming more expensive

Many retirees have monthly premium payments for Medicare Part B — which covers physician, outpatient hospital and some home health services — deducted directly from their Social Security benefit checks.
Yet while Medicare Part B premiums go up by 5.5% per year on average, Social Security cost-of-living adjustments average 2.6% annually, according to a new analysis by Johnson.
Consequently, premium costs take up an increasingly large share of Social Security benefits.

Over the past two decades, Medicare Part B premiums and deductibles grew at double the rate of Social Security’s cost-of-living adjustments, Johnson said.
From 2005 to 2024, Medicare Part B premiums grew by 109.9 percentage points, while Social Security cost-of-living-adjustments totaled 52.5 percentage points.
The dramatic difference is due in part to Medicare costs not being factored into the annual Social Security COLA calculations, Johnson explained. More

Former President Donald Trump says that he wants to make in vitro fertilization treatments free for all women who need it.
However, health care experts are skeptical Trump could implement such a policy through an executive action.
Finding support in Congress, meanwhile, could be exceptionally difficult.

Former U.S. President and current Republican Presidential nominee Donald Trump speaks about the economy, inflation, and manufacturing during a campaign event at Alro Steel on August 29, 2024 in Potterville, Michigan. 
Bill Pugliano | Getty Images

Former President Donald Trump says that he wants to make in vitro fertilization treatments free of cost, either by requiring insurance companies to cover the procedure or federally funding it.
“Because we want more babies, to put it very nicely,” Trump said at a campaign rally in Michigan on Aug. 29.

Since then, neither Trump nor his campaign has offered details on how such a plan might be paid for. Still, his verbal support brought the fertility treatments to the center of a presidential race where both Trump and Democratic Vice President Kamala Harris are vying for the votes of politically moderate women.
But health care experts are skeptical that Trump could implement such a policy on his own. And winning support for free IVF among his fellow Republicans in Congress could prove exceptionally difficult.
“The ability of the executive to do this unilaterally is quite limited,” said Alina Salganicoff, a senior vice president and the director of the Women’s Health Policy Program at KFF.
Mandating that insurers pay for IVF would require legislation in Congress, Salganicoff said. Another potential option would be to convince a panel of experts to add IVF to the list of fully covered women’s preventative services under the Affordable Care Act. This would pose several challenges, not least of which is that Trump has tried to repeal the ACA.
It would also be difficult for members of Congress to rationalize making a single treatment like IVF free, said Sabrina Corlette, co-director of the Center on Health Insurance Reforms at Georgetown University’s McCourt School of Public Policy.

“What about chemotherapy? What about insulin? What about any other number of life-saving services that people need?” she said.
Having the government pay for IVF would similarly require an act of Congress. Lawmakers need to allocate the funds, and the cost of such a program would likely be eye-popping, experts said.
A single cycle of IVF costs over $23,000, according to FertilityIQ. Many women need four or more cycles to have a successful birth.

Maskot | Maskot | Getty Images

Another concern is that insurers required to cover IVF treatments would pass on these extra costs to consumers, said Corlette.
“We’re talking about an expensive service, and if you reduce all financial barriers to it, it would add to premiums for sure,” Corlette said.
Trump “supports universal access to contraception and IVF,” Karoline Leavitt, the Trump campaign’s national press secretary, told CNBC in response to a question about the proposal. Leavitt declined to address how this might be paid for.
These are likely some of the reasons that Harris, who has positioned herself as a champion for women’s reproductive rights, hasn’t come out with a similar proposal, Salganicoff said.
“My sense is that they realize the complexities involved,” Salganicoff said, speaking of the Harris campaign.
Former Rep. Bakari Sellers, D-S.C., a Harris ally, challenged the basic notion that what Trump has said about IVF even counts as a policy proposal.
“It’s a silly proposition to ask is Kamala Harris going to chase Donald Trump on any issue that deals with reproductive rights,” Sellers told CNBC.
“He said one sentence about IVF. That’s not a policy, it’s an idea that hasn’t been thoroughly vetted by anyone,” said Sellers.

Read more CNBC politics coverage

Besides Trump’s comments that he would cover “all costs” of IVF, his campaign hasn’t released any formal proposal.
Trump’s own platform “could effectively ban IVF” nationwide, said Sarafina Chitika, a spokesperson for the Harris campaign. Chitika pointed to the 2024 GOP platform and reports that it would encourage states to establish fetal personhood.
Because Trump overturned Roe v. Wade, IVF is already under attack and women’s freedoms have been ripped away in states across the country,” Chitika said. “There is only one candidate in this race who trusts women and will protect our freedom to make our own health care decisions: Vice President Kamala Harris.”
Senate Republicans in June blocked legislation that would guarantee women the right to IVF treatments. Meanwhile, only 39% of Republicans said it was “morally acceptable” to destroy the frozen human embryos created by IVF, Gallup found the same month.
As a result, Trump might find it hardest to get support from his own party to institute a universal IVF program, experts said.
The GOP record on regulating health insurance companies also doesn’t bode well for Trump’s plan, said Corlette.
“They’ve all been for reducing the mandates on insurers,” she said. More

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., September 9, 2024. 
Brendan Mcdermid | Reuters

Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox.
Here’s what CNBC TV’s producers were watching as the S&P 500 and Nasdaq Composite posted back-to-back winning days and what’s on the radar for the next session.

Oil and energy

OPEC lowered its demand forecast for the second time in two months.
A quarter of the rigs in the Gulf of Mexico have been shut down ahead of Tropical Storm Francine, which is expected to become a hurricane and make landfall in Louisiana on Wednesday.
West Texas Intermediate futures fell 4.3% to settle at $65.75 on Tuesday. That’s the lowest settle since December 2021.
Brent futures fell 3.7% Tuesday and settled at $69.19, the lowest settle since December 2021.
Energy is the worst performing S&P sector in September. That’s the case for the one-, three-, and six-month periods, as well as year to date and the past 12 months.
The sector is 13.4% from the April 5 52-week high.
EQT is the worst performer in three months, down 22%.
Coterra is down 19.5% in three months.
APA is down 19% in three months.
Halliburton is down 18% in three months.
Occidental is down 15% in three months.
ExxonMobil and Chevron are both down 6% in September.

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EQT’s performance over the past three months

The banks, Basel III and beyond — and the Great American Consumer

New rules and regulations regarding global banking weren’t as impactful as feared. However, the industry was hit by a few factors on Tuesday, including JPMorgan’s lowered expectations for net interest income for next year and Ally Financial’s statement the consumer was showing signs of struggle.
Ally dropped 17.6% Tuesday. Shares are 28% from the 52-week high hit July 31.
JPMorgan dropped 5%. It is 8% from the Aug. 30 high.
Goldman Sachs fell 4.4% Tuesday. The stock is 9.7% from the July 31 high.
Citigroup fell 2.7%. The stock is 14.5% from the 52-week high.
Morgan Stanley fell 1.6%. It’s down 11.5% from the July 16 high.
Wells Fargo fell 1.17% Tuesday. The stock is 13.75% from the mid-May high.
Bank of America fell 0.5%. The stock is 11.6% from the mid-July high. CEO Brian Moynihan told CNBC TV’s Sara Eisen on Tuesday that he had more confidence in the American consumer and didn’t see anything to worry about. “The consumer is not getting worse right now, they’re very stable” he said.
The SPDR S&P Regional Banking ETF (KRE) fell 0.87% Tuesday. It is 8% from the July 31 high.

BMW and the auto sector

BMW fell about 11% in European trading Tuesday. The company said it was seeing weakness in Asia and worried about high costs related to a recent recall.
General Motors dropped 5.4%. The stock is 11% from the 52-week high.
Ford fell 3.2% Tuesday. The stock is 30% from the July high.
Honda is down 2%. Shares are 19% from the March high.
Toyota was down 1% Tuesday. The stock is 32% from the March high.

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General Motors’ year-to-date performance

Cannabis stocks

CNBC TV’s Brandon Gomez covers the beat and will report on how the sector may do in either a Kamala Harris or Donald Trump administration.
The sector has been strong in the last week since Trump said he’d back legalization in his home state of Florida.
Canopy Growth is up 7% in two days, but it’s still 75% from the high reached nearly a year ago.
Aurora is up 4.8% in two days. It’s down more than 50% from the high reached last September.
Tilray is up about 5% in two days, about 50% from the high reached about a year ago.

Inflation data

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U.S. 10-year Treasury yield in 2024

REIT run

Five players in the real estate investment trust space hit multi-year highs on Tuesday. Those names are Crown Castle, Equity Residential, Essex Property Trust, Mid-America Apartment Communities and UDR.
Crown Castle is up 20% in three months.
Equity Residential is up 16.4% in three months.
Essex Property Trust is up 14.4% in three months.
Mid-America Apartment Communities is up 18% in three months.
UDR is up 14.5% in three months.
The S&P Real Estate index is up 18% in three months. More

Democratic presidential nominee Vice President Kamala Harris last week proposed a 28% tax on long-term capital gains, or assets owned for more than one year, for those making more than $1 million annually.
If she raised the net investment income tax to 5%, top earners would pay a combined rate of 33%.
Harris’ combined 33% capital gains rate for top earners would be the highest since 1978. But the average effective rate — what investors actually pay — is typically lower, experts say.

U.S. Vice President Kamala Harris in Milwaukee, Wisconsin, U.S. August 20, 2024 and former U.S. President Donald Trump in Bedminster, New Jersey, U.S., August 15, 2024 are seen in a combination of file photographs. 
Marco Bello | Jeenah Moon | Reuters

As the election ramps up, many investors are focused on capital gains taxes and how proposals from both parties could affect their assets.  
Democratic presidential nominee Vice President Kamala Harris last week proposed a 28% tax on long-term capital gains, or profits from the sale of assets owned for more than one year, for those making more than $1 million annually. The plan would raise the top rate from 20%.

“I would go higher than that,” Sen. Bernie Sanders, I-Vt., on Sunday told NBC’s “Meet the Press” of Harris’ proposal. “I think she’s trying to be pragmatic and doing what she thinks is right in order to win the election.”
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Harris’ plan veers from President Joe Biden’s 2025 fiscal year budget, which calls for 39.6% long-term capital gains taxes for those earning above $1 million per year.
Her plan would also raise the net investment income tax, or NIIT, from 3.8% to 5%, The Wall Street Journal reported last week. Biden’s 2025 budget has the same NIIT increase for those with modified adjusted gross income, or MAGI, over $400,000.
Under current law, the NIIT applies to certain investment earnings once MAGI exceeds $200,000 for single filers or $250,000 for married couples filing together.

If Harris proposes raising the NIIT to 5%, the combined rate would be 33% for top earners. Biden’s plan would raise the combined rate to 44.6%.
The Harris campaign did not immediately respond to CNBC’s request for comment.

Meanwhile, former President Donald Trump broadly supports tax cuts but hasn’t outlined a capital gains tax proposal.
The issue was addressed in Project 2025, a “vision for a conservative administration” created by conservative think tank The Heritage Foundation with more than 100 other right-leaning organizations.
Project 2025 called for a 15% tax rate for capital gains and dividends. The collection of proposals would also abolish the NIIT.
Several Trump officials have been directly affiliated with Project 2025, but he has distanced himself from the plan.
The Trump campaign did not immediately respond to CNBC’s request for comment.
Of course, capital gains tax changes in either direction would require congressional approval, and control of the House and Senate is uncertain.
Here’s how the candidates’ proposals compare with past capital gains tax rates.

History of capital gains tax rates

In recent decades, capital gains tax rates have generally been lower than “ordinary income” or regular income tax rates, according to the Tax Foundation.
“We’ve applied preferential rates to qualified dividends and long-term capital gains, and that rate has trended downward over time,” said Garrett Watson, senior policy analyst and modeling manager at the Tax Foundation.  
If enacted, Harris’ combined 33% capital gains rate for top earners would be the highest since 1978, when the rate was close to 40%, he said.
Harris’ 28% top capital gains rate, excluding the NIIT, would mirror the top rate enacted by former President Ronald Reagan in 1986, which temporarily matched the ordinary income rate.
After tax cuts from former President George W. Bush, the top capital gains tax rate dropped to 15% from 2003 through 2012. That rate was the lowest since the Great Depression, according to the Tax Policy Center.

However, capital gains revenue is more volatile than regular income tax collections because it’s influenced by when investors sell or “realize” profits, Watson said.   
“It creates a lot of uncertainty for policy wonks who are trying to generate revenue estimates for these proposals,” he added.  
To that point, the average effective tax rates, or percentage of taxes paid, have been lower than the maximum capital gains rates, according to the Tax Foundation.

Capital gains taxes can have a ‘lock-in effect’ 

Generally, investors can choose when to sell assets and incur capital gains taxes. Higher rates or lower future rates can prompt investors to defer sales, experts say. Alternatively, investors will strategically realize gains in the 0% bracket, depending on their current taxable income and long-term goals.   
For 2024, investors pay 0%, 15% or 20% capital gains taxes, plus 3.8% NIIT for higher earners.

“There’s no question that there’s a lock-in effect associated with capital gains, and that will go up with a higher rate,” said Kent Smetters, a professor of business economics and public policy at the University of Pennsylvania’s Wharton School.
Although there have been proposals to tax unrealized gains, those plans have failed to reach broad support in Congress.  More

Oracle is designing a data center that would require more than a gigawatt of power, chairman and co-founder Larry Ellison said.
The data center would be powered by three small modular nuclear reactors, Ellison told investors this week.
Small modular reactors are next-generation designs that promise to speed the deployment of reliable, carbon-free power — but they face challenges reaching the commercial stage.

A view of Oracle’s headquarters in Redwood Shores, California, on Sept. 11, 2023.
Justin Sullivan | Getty Images

Oracle chairman and co-founder Larry Ellison had a “bizarre” announcement to make this week.
The electricity demand from artificial intelligence is becoming so “crazy” that Oracle is looking to secure power from next-generation nuclear technology, Ellison told investors on the company’s earnings call Monday.

“Let me say something that’s going to sound really bizarre,” Ellison told analysts. “Well, you’d probably say, well, he says bizarre things all the time, so why is he announcing this one. It must be really bizarre.”
Oracle is designing a data center that will require more than a gigawatt of electricity, the company’s chairman said. The data center would be powered by three small nuclear reactors, he added.

“The location and the power place we’ve located, they’ve already got building permits for three nuclear reactors,” Ellison said. “These are the small modular nuclear reactors to power the data center. This is how crazy it’s getting. This is what’s going on.”

Ellison did not disclose the location of the data center or the future reactors. CNBC reached out to Oracle for comment.
Small modular nuclear reactors are new designs that promise to speed the deployment of reliable, carbon-free energy as power demand rises from data centers, manufacturing and the broader electrification of the economy.
Generally, these reactors are 300 megawatts or less, about a third the size of the typical reactor in the current U.S. fleet. They would be prefabricated in several pieces and then assembled on the site, reducing the capital costs that stymie larger plants.
Right now, small modular reactors are a technology of the future, with executives in the nuclear industry generally agreeing that they won’t be commercialized in the U.S. until the 2030s.
There are currently three operational small modular reactors in the world, according to the Nuclear Energy Agency. Two are in China and Russia, the central geopolitical adversaries of the U.S. A test reactor is also operational in Japan.

Don’t miss these energy insights from CNBC PRO: More

Nearly a quarter of millennials and Gen Z without children do not plan to become parents, primarily due to financial reasons, according to a recent report.
Over decades, attitudes about marriage and parenthood have changed, but more recently, the high cost of living has become a contributing factor in decisions to forgo having children.
A lifestyle commonly referred to as DINKs — dual income, no kids — is becoming increasingly prominent.

Raising kids is expensive.
Of course, many believe that the rewards far outweigh the financial cost. However, others are opting for a life without children, largely because of affordability constraints.

Now, nearly a quarter, or 23%, of millennials and Generation Z without children do not plan to become parents, primarily due to financial reasons, according to a new consumer spending and saving index from MassMutual.
A lifestyle commonly referred to as DINKs — dual income, no kids — is becoming increasingly prominent.
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“With today’s financial stressors, it is understandable why there is a growing trend among young adults to prioritize financial security over parenthood,” said Paul LaPiana, a certified financial planner and senior executive at MassMutual in Park City, Utah.
“This shift reflects a broader understanding of the importance of financial stability and independence in achieving long-term goals that every generation must reckon with,” LaPiana said.

A preference for financial freedom and the inability to afford children are equally cited by 43% of younger generations, MassMutual found. The survey polled 1,000 adults in July.

Young adults face financial obstacles

Over decades, attitudes about marriage and parenthood have changed. Since the 1970s, the overall share of married adults has declined and fewer couples are having children, according to a 2023 report from Pew Research Center. Last year, the U.S. fertility rate reached a historic low.
More recently, experts say, the overall cost of living has become a contributing factor in decisions to forgo parenthood.
After a prolonged period of high inflation, many Americans today feel strained by higher prices — most notably for food, gas and housing, and younger adults are getting especially hard hit.
Not only are their wages lower than their parents’ earnings when they were in their 20s and 30s, after adjusting for inflation, but they are also carrying larger student loan balances, which makes it harder to save for long-term goals, such as buying a home and starting a family.

“There has been a sticker shock to so many aspects of life over the last few years,” said Greg McBride, chief financial analyst at Bankrate.com. “That doesn’t inspire the type of confidence needed to make decisions with big financial consequences.”
More than half of millennials and Gen Zers said they have delayed plans to have children and 86% cite finances as the primary reason, according to another recent survey of more than 1,000 millennials and Gen Zers by BadCredit.org. 
The majority of adults without children said not having kids has made it easier for them to afford the things they want and be successful in their job or career, Pew also found earlier this year.

Child-care costs are a major issue

At the same time, “the childcare crisis, which was simmering prior to the pandemic, has come to a boil,” according to a KPMG analysis. Between 1991 and 2024, the costs for child care rose at nearly twice the pace of overall inflation.
“There’s no question that parenthood faces real financial challenges,” said Brett House, economics professor at Columbia Business School. 
But parenthood and related child care costs are not just personal financial issues, he added. “The cost of child care is really an economic growth and productivity issue as well,” House said — and that affects all Americans, not just those with young kids.

There’s no question that parenthood faces real financial challenges.

Brett House
economics professor at Columbia Business School

A 2023 report by the advocacy group ReadyNation found that the nation’s infant-toddler child-care crisis costs the U.S. an estimated $122 billion in lost earnings, productivity and revenue every year.
Because caregiving demands still largely fall on women, that continues to shape their labor force participation and pay.
Women with young children have a much lower labor force participation rate compared to other groups, and those caregiving demands have largely contributed to a persistent gender pay gap, often referred to as the “motherhood penalty,” research also shows.
Heading into a U.S. presidential election, this is “one of the most important issues for policy makers and for businesses,” House said.
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Dorm insurance is a personal property insurance for college students who live on campus.
But you might actually need renters insurance, or be able to cover dorm contents under a parent’s homeowners insurance policy.
Here’s what to consider before taking on dorm insurance.

Terry Vine | Getty Images

As “DormTok” social media posts entice college students to design elaborate dorm rooms — “the stakes of dorm decor have never been higher,” according to House Beautiful — parents may be wondering if they have the right insurance coverage to protect all those purchases.
Enter: “dorm insurance.” Before signing up, first consider your child’s specific needs to see if it is worth the purchase, experts say.

Dorm insurance is a personal property insurance for college students who live on campus, explained Loretta Worters, vice president of media relations of the Insurance Information Institute.
It tends to include coverage for accidental and water damage, and can cost up to $20 a month, according to marketplace site ValuePenguin.
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However, taking on the dorm insurance might not be necessary. In some cases, what your college student really needs is renters insurance, experts say. In others, parents’ homeowners insurance may be enough.
“People tend to buy insurance when it’s not always warranted,” said Carolyn McClanahan, a certified financial planner and founder of Life Planning Partners in Jacksonville, Florida.

Here’s how to know if you need to tack on an additional insurance policy for your college student’s dorm room, according to experts. 

How dorm insurance compares to other options

Colleges and universities will often partner with different insurers to offer dorm insurance, Worters said.
Using the partner may come with a price break, but parents could also shop around with other insurers to compare terms.
If parents decide to take on a dorm insurance policy, it would be billed separately from the room and board, said Worters.
Also, expect to pay out-of-pocket. To that point, money from 529 college savings plans cannot pay for dorm insurance because it is not a qualified educational expense, said McClanahan, who is a member of the CNBC Financial Advisor Council.

Whether you sign up for dorm insurance or not, your child’s dorm possessions will likely be covered under your home insurance plan, according to experts.
A parent’s homeowners insurance will typically cover a college student if they live on campus and are under age 26, according to the National Association of Insurance Commissioners.
The limits are typically 10% of the contents in their dorm, “which may be enough, depending on the needs,” Worters said.

For example, if your homeowners personal property is $100,000, the college student would be covered for $10,000. The coverage often includes computers, TVs, electronics, bicycles, furniture, and clothing, said Worters.
But keep in mind that dorm-specific insurance policies tend to have lower deductibles than home insurance policies, Worters said.
It doesn’t matter if the child attends university in a different city or state, said McClanahan. The home insurance policy will often stretch over, so long as the kid lives in a dorm, she said.

4 questions to ask before insuring dorm contents

1. How safe is your campus? A parent may want to consider dorm insurance if the university’s location has high criminal activity or if they have reason to worry about things being stolen, said McClanahan. “But if you look at statistics, most campuses are actually very, very safe, and there’s very little crime on campus,” she said.
The number of on-campus reported burglaries have been declining since 2011, according to data from the National Center for Education Statistics. In 2011, roughly 12.8 on campus burglaries were reported per 10,000 full-time students. The number fell to 4.7 per 10,000 in 2021, NCES found.
2. What high-value items are in the dorm room? In general, most of the things in a student’s dorm room are not high cost items, said McClanahan. Even so, a parent’s homeowners policy might only pay up to a specified amount, according to NAIC. It will be important to check what the limits are with the insurance agent or insurance company. 
3. Can you afford to replace stolen items yourself? Deductibles for homeowners insurance may be high enough that you’d have a significant outlay before coverage kicks in. Plus, making a claim can be a “ding” on your insurance, leading to higher rates in the future, said McClanahan.
4. Is your student living off campus? In that case, they may need renters insurance, which covers both personal property and certain liabilities. The premiums for renters insurance average between $15 and $30 per month depending on the location and size of the rental unit and the policyholder’s possessions, according to the NAIC.
“If the student lives off-campus, they may be required by the landlord to carry renter’s insurance,” said Worters. “More and more landlords are insisting on coverage before they will rent to a student.” More

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., September 9, 2024. 
Brendan Mcdermid | Reuters

Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox.
Here’s what CNBC TV’s producers were watching as stocks rallied Monday and what’s on the radar for the next session.

Apple’s big iPhone launch

Apple unveiled its latest slate of iPhones, Apple Watches and AirPods at its much-watched “Glowtime” event Monday, but investors didn’t seem impressed. The stock fell as the event kicked off, but staged a late-day rally to close in the green.
Shares hit an all-time high in mid-July, and they are almost 7% from those levels.
Still, Apple has been the second-best performing “Magnificent Seven” stock over the last three months.
The group has been led to the downside by Google-parent Alphabet, which is down almost 15% in three months, and Nvidia, down nearly 12%.
Apple, meanwhile is up more than 12% in the past three months. It’s trailing only Tesla, which is up 22% in that period.

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Apple’s performance in the past month

Oracle earnings

The “old school” tech giant reported earnings after the bell tonight.
Shares were up in after-hour trading after the company posted earnings and revenue that beat expectations.
The day after its last earnings report in June, ORCL shares jumped 13.3%. The stock is up 11% in the last three months, and it’s up nearly 33% this year.
By comparison, the iShares Expanded Tech-Software Sector ETF (IGV) is up about 5% in the last three months, and it’s up 4% this year.
The Technology Select Sector SPDR Fund (XLK) is down about 4% in three months, and it’s up 7% this year.
The Nasdaq Composite is down about 1.5% in three months and up a little more than 12% this year.

Tall order

Monday marked Brian Niccol’s first day as CEO of Starbucks. Shares were up a little over 1%.
Niccol takes over from embattled former chief Laxman Narasimhan, who became CEO in March of last year. Under Narasimhan, SBUX shares were down 7.6%. Shares are down 14% from their 52-week high hit last November.
Niccol had previously been CEO of Chipotle, a role he took in March 2018. Under his tenure, CMG shares were up nearly 750%.
Chipotle shares hit an all-time high in June, just before a 50-for-1 stock split went into effect. The stock is down 21% from that high.

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Starbucks’ 2024 performance

Cancer drug results

Shares of Summit Therapeutics soared 56% on very heavy volume after its lung cancer drug showed significantly better results than Merck’s Keytruda in Phase 3 trials.
It was the stock’s best day since just May, when it jumped more than 270%.
Shares are trading at an all-time high, up more than 630% this year.
Merck, meanwhile, was down 2% Monday.
Summit was the best performing stock in both the SPDR S&P Biotech ETF (XBI) and iShares Biotechnology ETF (IBB).
The second best biotech stock on Monday was Relay Therapeutics, which was up 52% on positive results for its breast cancer drug.

Taking off

Airlines among the best performing stocks Monday, with the US Global Jets ETF (JETS) gaining 2.6%, and posting its highest close since July 31.
JetBlue was the biggest gainer, up over 7%. The latest move came after Bank of America upgraded the stock to neutral from underperform. The company had raised revenue guidance last week.
United Airlines was up about 6%, the biggest gainer in the S&P 500. It posted its highest close since late June.
American Airlines, which will move from the S&P 500 to the midcap S&P 400 as of Sept. 23, was up nearly 4%.

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JETS ETF performance in the past month

 New S&P companies

Speaking of S&P shake ups, two of the three newest members of the benchmark S&P 500 closed higher on Monday.
Palantir was up 14%, its best day since February. It posted its highest close since February 2021. It has more than doubled in price this year.
Dell Technologies rose almost 4%. It’s up nearly 40% this year, but down 40% from its record high hit in late May.
Insurance company Erie Indemnity shed 0.6%. It’s still up more than 50% this year, and hit an intraday record during the session, dating back to its 1995 IPO.

—Kavitha Shastry

CNBC will interview several big market-moving CEOs Tuesday

AT&T’s John Stankey is on in the 10 a.m. hour, Eastern time. The stock shot up 2.5% Monday, hitting a new 52-week high. It is up 8% in a week. The dividend on AT&T is 5.2%.
Michael Arougheti of Ares Management is also in the 10 a.m. hour. The stock is 10% from the July 31 high.
Larry Culp of GE Aerospace is live in the 1 p.m. hour. The stock is 7% from a 52-week high. It jumped 2.5% Monday, but it’s down 5.3% so far in September.

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GE Aerospace’s performance in 2024

Apple’s suppliers

Apple’s event regarding the new iPhone left the stock flat.
But some of the suppliers moved.
Arm Holdings will be a big player in the new iPhone. The stock was up 7% on Monday. It remains 33.5% from the July high.
Taiwan Semiconductor was up 3.8%. The stock is 16% from the 52-week high hit in July.
Broadcom was up 2.8% Monday. The stock is 24% from the June high.
AMD was up 2.8% as well. It is 40% from the March high.
Cirrus Logic was up 1.7% Monday. It is 8.7% from the August 29 high.

GameStop reports after the bell Tuesday

The video game retailer with a lot of ups and downs reports Tuesday afternoon.
Shares are 63% from the May high.
GameStop is up about 11% in the last month. 

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GameStop’s one-month performance

Basel III

CNBC’s Leslie Picker will report on what could be big news for the banks on Tuesday.
Ahead of the possible news, Wells Fargo is 12.7% from the 52-week high hit in May.
Citigroup is 12.2% from the July 17 high.
Bank of America is 11% from the 52-week high, also hit July 17.
Morgan Stanley is 10% from the July 16 high.
JPMorgan is 3.85% from the Aug. 30 high.  We will hear from CEO Jamie Dimon in the morning. 

Boeing August orders and deliveries

CNBC’s Phil LeBeau will be watching for the numbers when they come out at 11 a.m.
Shares are 39% from the high hit back on Dec. 21.
Boeing was up 3.36% on Monday.
It is down 6.2% so far in September.

—Jason Gewirtz More