The Well-th Notes – Fourth Week of August 2025

By Hightower Great Lakes on August 29, 2025

India’s tariff trouble

US tariffs on Indian imports doubled to as much as 50% on Wednesday, dealing a blow to bilateral ties and threatening small exporters and jobs across India.

The move adds to existing levies and raises economic concerns in the world’s fastest-growing major economy.

Indian officials are exploring alternative markets and support measures to cushion the impact.[i]

Cracker Barrel backs down

On Wednesday, Cracker Barrel reversed its recent rebranding decision and will restore its original logo following widespread backlash.

The reversal came just hours after President Trump criticized the rebrand and urged a return to tradition.

The move has helped recover much of the stock’s initial decline following last week’s rebrand announcement.[ii]

Magnificent Seven losing momentum?

Lower interest rate expectations are lifting sectors like real estate, banking, and manufacturing, but the outlook for tech’s “Magnificent Seven” is far less certain.

Amazon, Alphabet, Apple, Meta, Microsoft, Nvidia, and Tesla are facing valuation concerns, AI skepticism, and rising competition from previously overlooked corners of the market.

As investors rotate into other sectors, the once-dominant tech giants may be entering a more volatile phase.[iii]

Mall makeover move

Dillard’s and Trademark Property Co. announced on Monday that they have acquired Longview Mall in eastern Texas, with Trademark now overseeing operations and leasing for the 646,000-square-foot center.

The investment marks a vote of confidence in “evergreen” malls, with plans to upgrade the property and tenant mix to better serve the region.[iv]

From the Great Resignation to the Great Stay

Millions of workers left their jobs during the Covid-era “Great Resignation,” but 2025 has ushered in the “Great Stay,” with employees remaining in place and companies pausing hiring and layoffs.

Economic uncertainty has created a “no-hire, no-fire” environment, marked by low turnover and cautious workforce strategies.

This shift is evident across sectors in the US and UK, where labor markets continue to cool.[v]

Meta’s new vision

Meta announced last Friday that it will unveil two new smart glasses in September, including its first consumer-ready model with a display and gesture-controlled wristband.

Codenamed Hypernova, the glasses will retail for around $800. The launch marks Meta’s next step toward full augmented reality functionality, with limited visual features and AI-powered interactions.[vi]

Disclosures:

Hightower Great Lakes is a group comprised of investment professionals registered with Hightower Advisors, LLC, an SEC registered investment advisor. Some investment professionals may also be registered with Hightower Securities, LLC, member FINRA and SIPC. Advisory services are offered through Hightower Advisors, LLC.

Securities are offered through Hightower Securities, LLC. All information referenced herein is from sources believed to be reliable. Hightower Great Lakes and Hightower Advisors, LLC have not independently verified the accuracy or completeness of the information contained in this document.

Hightower Great Lakes and Hightower Advisors, LLC or any of its affiliates make no representations or warranties, express or implied, as to the accuracy or completeness of the information or for statements or errors or omissions, or results obtained from the use of this information.

Hightower Great Lakes and Hightower Advisors, LLC or any of its affiliates assume no liability for any action made or taken in reliance on or relating in any way to the information. This document and the materials contained herein were created for informational purposes only; the opinions expressed are solely those of the author(s), and do not represent those of Hightower Advisors, LLC or any of its affiliates.

Hightower Great Lakes and Hightower Advisors, LLC or any of its affiliates do not provide tax or legal advice. This material was not intended or written to be used or presented to any entity as tax or legal advice. Clients are urged to consult their tax and/or legal advisor for related questions.

---

[i] Lawder, David and Kumar, Manoj. “India hit by US doubling of tariffs, plans to cushion blow.” Reuters, 27 August 2025, https://www.reuters.com/world/india/india-hit-by-us-doubling-tariffs-plans-cushion-blow-2025-08-27/.Accessed August 27, 2025.

[ii] McCadden, Ali. “Cracker Barrel shares rise after restaurant chain gets rid of controversial new logo.” CNBC, 27 August 2025. https://www.cnbc.com/2025/08/27/cracker-barrel-cbrl-stock-logo-trump.html.Accessed August 27, 2025.

[iii] Lang, Hannah and Olson, Bradley. “Tech Rally Shows Signs of Losing Steam.” MSN, 25 August 2025, https://www.msn.com/en-us/money/markets/tech-rally-shows-signs-of-losing-steam/ar-AA1L8zf0. Accessed August 27, 2025.

[iv] Howland, Daphne. “Dillard’s buys a shopping mall.” Yahoo, 25 August 2025, https://finance.yahoo.com/news/dillard-buys-shopping-mall-114000335.html. Accessed August 27, 2025.

[v] Ellyatt, Holly. “From the ‘Big Stay’ to a ‘no-hire, no-fire’ freeze, labor markets are seeing sizable shifts.” CNBC, 25 August 2025, https://www.cnbc.com/2025/08/25/the-big-stay-and-a-no-hire-no-fire-freeze-change-to-labor-markets.html. Accessed August 27, 2025.

[vi] Rodriguez, Salvador et al. “Meta to unveil Hypernova smart glasses with a display, wristband at Connect next month.” CNBC, 22 August 2025, https://www.cnbc.com/2025/08/22/meta-hypernova-ar-glasses-wristband.html.Accessed August 27, 2025.