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Most American adults have cut spending this year, according to a new CNBC-Morning Consult survey, which also revealed that consumers plan to stay frugal through the holidays.

A whopping 92% of adults have cut back on discretionary spending over the past six months, CNBC found after polling 4,403 US adults last week.

Consumers were most skittish when shopping for clothes and dining out at restaurants — 63% and 62%, respectively.

The news site’s poll also showed that consumers at all income levels are feeling pinched by the economy. While labor strikes in Hollywood and Detroit provoke fresh uncertainty, inflation rose a surprisingly stiff 3.7% last month — still well above the Federal Reserve’s 2% target.

Fifty-five percent of lower-income households earning $50,000 or less annually told CNBC that their personal finances are suffering from the state of the US economy, while 61% of middle-income earners bringing in $50,000 to $100,000 are feeling the squeeze.

Even among the highest earners with annual incomes exceeding $100,000, 46% said they’re feeling the impact of the economy on their finances.

More than three-quarters of respondents, 76%, plan to cut back spending on non-essential items over the next six months, during retailers’ all-important holiday shopping season, while 62% said they plan on budgeting “sometimes” or “more often” in the upcoming months, CNBC found.

Meanwhile, 56% of surveyed respondents said they were spending less on entertainment outside the house despite reports of recent summer splurges on blockbuster movies and concert tours, namely Taylor Swifts sought-after Eras Tour, which is on track to amass a record-breaking $1 billion in sales, making it the highest-grossing tour ever.

Groceries saw the next-biggest budget reduction, with 54% of respondents saying they’re spending less at the supermarket, according to CNBC.

The results came just one week after the Bureau of Labor Statistics’ closely-watched Consumer Price Index showed that food prices rose 0.2% for the third consecutive month in August as the index for meats, poultry, fish, and eggs advanced 0.8%.

The index for pork edged 2.2% higher.

CNBC’s survey also showed that 53% of respondents will be cutting back on recreational travel spend, while 50% won’t be quick to splash out on electronics — a figure that could spell bad news for Apple, which is set to drop its “industry first” iPhone 15 on Sept. 22 for up to $899 depending on storage capacity.

The latest inflation numbers represent a stark slowdown from last summer when inflation hit a four-decade peak at 9.1%.

Still, it remains well above the Feds 2% goal and marks an acceleration from the previous two months.

In June, inflation bottomed out at 3%, and rose to 3.2% in July.

As Wall Street expected, rising gasoline costs were the main culprit of Augusts advance, ticking 10.6% higher last month and accounting for over half of the increase, the data showed.

As of Tuesday, the national average of a gallon of gas stood at $3.88, rising some eight cents in the span of a week, according to the American Automobile Association.

The most eye-watering prices were seen in some parts of California, where gas is running residents more than $6 in some parts of LA and as much as $7 in other parts of the state.

At this time last year, a gallon of gas was 18 cents cheaper nationally, AAA said.

And to make matters worse, relief doesnt appear to be on the horizon, at least not in the short term.

Chevron CEO Mike Wirth predicted that oil prices would get close to $100 a barrel.

Supply is tightening, inventories are drawing the trends would suggest, we are certainly on our way, we are getting close (to $100/bbl), Wirth, who heads the nations second largest energy producer, told Bloomberg TV on Monday.

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NASA’s Hubble and Webb Discover Bursting Star Formation in Small Magellanic Cloud

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NASA’s Hubble and Webb Discover Bursting Star Formation in Small Magellanic Cloud

Scientists from NASA observed the bursting expansion of gas, stars, and dust from the glittering territory of the dual star clusters using Hubble and Webb space telescopes. NGC 460 and NGC 456 stay in the Small Magellanic Cloud, which are open clusters, with dwarf galaxies and orbit the Milky Way. These clusters are part of the extensive star complex clusters and nebulae that are most likely to be linked to each other. Stars are born upon the collapse of clouds.

Hubble and Webb Reveal Explosive Star Births in Small Magellanic Cloud

As per a report from NASA, the open clusters are from anywhere from a few dozen to many young stars, which are loosely bound by gravity. The images captured by Hubble capture the glowing and ionised gas, which comes from stellar radiation and blows bubbles in the form of gas and dust, which is blue in colour. The infrared of Webb shows the clumps and delicate filament-like structures and dust, which is red in colour.

NGC 460 and NGC 456: A Window into Early Universe Star Formation

Hubble shows the images of dust in the form of a silhouette against the blocking light; however, in the images of Webb, the dust is warmed by starlight and glows with infrared waves. The blend of gas and dust between the stars of the universe is called the interstellar medium. The region holding these clusters is known as the N83-84-85 complex and is home to multiple, rare O-type stars. These are hot and extremely massive stars that burn hydrogen like the Sun.

Such a state mimics the condition in the early universe; therefore, the Small Magellanic Cloud gives a nearby lab to find out the theories regarding star formation and the interstellar medium of the cosmos’s early stage.

With these observations, the researchers tend to study the gas flow from convergence to divergence, which helps in refining the difference between the Small Magellanic Cloud and its dwarf galaxy, and the Large Magellanic Cloud. Further, it helps in knowing the interstellar medium and gravitational interactions between the galaxies.

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Binance’s CZ threatens to sue Bloomberg over Trump stablecoin report

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Binance’s CZ threatens to sue Bloomberg over Trump stablecoin report

Binance’s CZ threatens to sue Bloomberg over Trump stablecoin report

Binance co-founder CZ has dismissed a Bloomberg report linking him to the Trump-backed USD1 stablecoin, threatening legal action over alleged defamation.

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Science

New Interstellar Object 3I/ATLAS Could Reveal Secrets of Distant Worlds

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New Interstellar Object 3I/ATLAS Could Reveal Secrets of Distant Worlds

The entry of a third known object into our solar system has been confirmed on July 1, 2025 by the astronomers. This object is named 3I/ATLAS, where 3I stands for “Third Interstellar”, having a highly hyperbolic (eccentricity ≈ 6.2) orbit, confirming it is not bound to the Sun but is a true interstellar visitor. Only two such visitors, 1I/ʻOumuamua (2017) and 2I/Borisov (2019), had been seen before. Notably, 3I/ATLAS appears to be the largest and brightest interstellar wanderer yet discovered.

Comparison with previous interstellars

According to NASA, astronomers from the ATLAS survey first spotted the object on July 1, 2025, using a telescope in Chile. It immediately drew attention for its unusual motion. Shortly after discovery, observers saw a faint coma and tail, leading to its classification as comet C/2025 N1 (ATLAS).

This comet-like appearance is shared with 2I/Borisov, the second interstellar visitor. Global observatories now track 3I/ATLAS. It poses no threat but offers a rare opportunity to study alien material. Since 1I/ʻOumuamua was observed only as it was leaving the solar system, it was difficult for astronomers to get enough data on it to confirm its exact nature — hence the crazy theories about it being an alien spaceship — though it’s almost certainly an asteroid or a comet.

Size and Significance

3I/ATLAS is much larger and brighter than earlier interstellar visitors. It is about 15 kilometers (km) [9 miles] in diameter, with huge uncertainty, compared to 100m for 1I/’Oumuamua and less than 1km for 2I/Borisov. This brightness and size makes it a a better target for study. Astronomers are planning to analyze its light for chemical signatures from its home system to get clues about the formation of distant planetary systems.

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