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Wrightsville × Wilmington
Monday, August 10, 2026
Monday Edition · 5 Min Read
Good morning, Wilmington.
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In The Loop
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A wellness campus is planned for the old Lowe's Foods site on Oleander Drive — gyms, med spas, and more coming to a familiar address. |
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The July jobs report was a double whammy: employers cut 23,000 jobs and mortgage rates climbed higher at the same time. |
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Greg Abel is finally opening Berkshire Hathaway's war chest — and making some big moves with Buffett's legendary cash pile. |
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Myspace is trying to make a comeback as an antidote to social media burnout. Yes, really. |
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Markets
| Name |
Value |
Change |
YTD |
| Nasdaq |
26,690.62 |
+1.30% |
+14.87% |
| S&P 500 |
7,757.64 |
+0.62% |
+13.11% |
| Dow |
54,036.93 |
+0.28% |
+11.69% |
| 10-Year Treasury |
4.66% |
-0.21% |
+11.30% |
| Bitcoin |
$65,131.10 |
+0.34% |
-26.60% |
Data provided by Yahoo Finance · Market data as of most recent close
Stocks pushed higher across the board this week despite a rough July jobs report, with the Nasdaq leading the charge past 26,600 as investors bet that weak employment data might pressure the Fed toward rate cuts sooner rather than later. The 10-year Treasury yield dipped slightly, which gave some relief to rate-sensitive buyers watching mortgage costs. Bitcoin, meanwhile, continues to sit well below its highs — down more than 26% on the year — a reminder that not every asset is enjoying the AI-fueled optimism lifting equities.
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Top Story
A Wellness Campus Is Moving Into the Old Lowe's Foods on Oleander
That vacant Lowe's Foods on Oleander Drive is finally getting new life — and it's not another grocery store. A developer has filed plans to convert the former supermarket site into a full wellness destination, with the concept expected to include fitness tenants, medical spa services, and health-focused retail under one roof. The project is still in early stages, but the general vision has been submitted and the site is actively being redeveloped. For a stretch of Oleander that's seen its share of empty storefronts lately, this is exactly the kind of private investment that signals confidence in the corridor. No opening timeline has been announced yet, but activity is clearly underway.
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Quick Hits
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Thermo Fisher Is Staying Put at Skyline Center — For Now
Thermo Fisher Scientific has renewed its lease at Wilmington's Skyline Center while the company works toward what it's calling a long-term solution for its local footprint. The extension keeps one of the area's major life sciences employers anchored downtown while bigger plans take shape.
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July's Jobs Report Was Bad News on Two Fronts
U.S. employers unexpectedly cut 23,000 jobs in July, and mortgage rates climbed higher in the same week — a one-two punch for workers and homebuyers alike. The report complicates the Fed's next move and gives rate-cut optimists less to work with than they'd hoped.
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Kellogg Is Pulling Artificial Dyes from Cereals by Year's End
Kellogg announced it will remove artificial dyes from its cereal lineup before the end of 2026, joining a growing list of food companies reformulating products amid regulatory pressure and shifting consumer expectations. The move affects some of the brand's most iconic — and most colorful — products.
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The Senate Passed a Spending Patch — Now It Has to Survive the House
Senators approved a stopgap bill to fund the federal government through December and avoid a pre-election shutdown, but House support remains shaky enough that nothing is certain yet. The bill now heads to a chamber where the math is considerably tighter.
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Canvasback Capital Is Building in Leland's Innovation Park
A new commercial project from Canvasback Capital is rising at Leland Innovation Park, adding to the steady drumbeat of development across the Cape Fear River. The project is part of a broader push to build out the park as a hub for business and light industrial tenants.
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National Story with a Local Angle
Medicaid Work Requirements Are Live — Here's What That Means for Real People
The federal Medicaid work requirement rules that Congress baked into recent legislation are now actively being applied, and states are scrambling to build the eligibility verification systems to enforce them. North Carolina expanded Medicaid not long ago, meaning a significant number of newly covered residents could face new documentation hurdles to maintain coverage. The practical squeeze here is real: people who work irregular hours, gig jobs, or informal arrangements may struggle to prove compliance even when they're legitimately working. Local health systems and nonprofits are likely to feel this on the ground as coverage gaps emerge.
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What Else Is In The Loop
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Greg Abel Is Finally Opening Berkshire's War Chest
Berkshire Hathaway posted strong Q2 earnings and new CEO Greg Abel is beginning to deploy the company's legendary cash hoard — a meaningful signal that one of the world's most patient investors now sees opportunity worth acting on. How Abel uses that mountain of capital will be one of the most-watched stories in business for the rest of the year.
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Myspace Wants to Be Your Social Media Detox Destination
Myspace is positioning a revival as an antidote to the algorithm-driven exhaustion of modern social media, pitching itself as a lower-stakes alternative — though observers note the road back from cultural irrelevance is a long one. Whether nostalgia alone can compete with TikTok and Instagram is a question the team will have to answer fast.
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The White House Is Trying to Remove a Fed Governor — Again
The Trump administration has revived its effort to oust Federal Reserve Governor Lisa Cook, a move that would test the legal limits of presidential authority over an institution explicitly designed to operate independently of political pressure. Markets have been watching closely, since any successful challenge to Fed independence would have broad implications for interest rate policy.
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Business Beat
Chuck Edwards Is Out — and Western NC's Congressional Seat Is Now a Wild Card
Rep. Chuck Edwards dropped his re-election bid after the House Ethics Committee recommended censure over a sexual harassment finding, leaving Republicans without a clear candidate in a district that covers the mountains west of Charlotte and into Asheville — not far from the communities still rebuilding after Helene. The abrupt exit gives Democrats an unexpected opening in territory that has been reliably red for years.
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One More Thing
There's a Solar Eclipse Next Week and You'll Want to Know About It
A solar eclipse is set to occur next week, and depending on where you're standing in the Carolinas, you may get a decent view — NPR has the full rundown on timing, visibility, and what to expect. It's not a total eclipse for most of the region, but it's worth knowing about before you accidentally look up at the wrong moment.
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Quote of the Week
“Change yourself and you have done your part in changing the world.”
— Paramahansa Yogananda
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The Loop
Wilmington’s Morning Briefing
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