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• Wharton professor Jeremy Siegel rejects the notion that US stocks are overvalued, saying they are in fact "underpriced".
• Billionaire investors Jeremy Grantham, Bill Gross and Jeffrey Gundlach have recently said equities look overpriced.
• "Even if there is a mild recession, these are great long-term values,"

• Inflation is holding steady at 3.7% despite the Fed's hopes of getting back down to 2.0%.
• This has retailers using an old trick to hide the true value of discounts from consumers, Walmart's ex-CEO says.
• Percentage discounts don't tell you much if you don't know the original price.

Inflation is back on the rise and it's forcing retailers to get creative.

The latest Consumer Price Index data was released on Thursday, showing that inflation held steady in September, with prices 3.7% greater than the same period in 2022. That was the same rate as August after a dip in July to 3.2%.

This means prices are still rising faster than the Fed's goal of getting inflation back down to 2.0%. Even though shoppers are hurting, it's not always obvious how exactly the crunch is hitting your wallets.

One way might be in products marked as discounted. In a recent interview with CNBC, ex-Walmart CEO and current Hanes and Darden restaurants board member Bill Simon laid out the simple sign to show buyers how to spot when discounts consumers have come to expect are not as significant now as they might appear.

"If you look at Amazon's and Walmart's websites, there's a lot of interesting things going on," Simon told "Fast Money." "They usually say, '50-inch TV, $199,' or something like that. And now they say, '50-inch TV, 40% off.' And you use percentages when you're not real proud of your price point."

In the data analytics world, there is an old saying that goes, "A big percentage of nothing is still nothing." The same logic applies here as a percentage discount doesn't mean you're getting a good deal if the original price was already greatly inflated.

The Walmart page seen above is a classic example, broadcasting "Deals" and "up to X%" language meant to captivate consumers and make them think they are getting a cheaper product, without actually knowing the base price.

Businesses have also used other tricks to adjust to rising prices without turning customers away. Some online stores use "dark patterns" to push customers to do something they might not otherwise do, such as a countdown clock to urge more impulse purchases. Brands also use "shrinkflation" where they reduce the amount of product while keep the price level.

Shoppers are starting to crack

Simon used this tactic as an example of how consumers are starting to feel more pressure from many angles. While shoppers may fall for the trick at first, they'll eventually realize they are still spending more money, and they'll pull back.

In addition to inflation, Simon noted that the 2024 presidential election, global macroeconomic issues, geopolitical tensions, interest rates, and student loan repayments are examples of current topics that make the consumer "weary" of spending money.

"That sort of pile-up wears on the consumer and makes them weary, even though they may not be as bad as they feel," Simon said. "It's a challenge, but I think overall, for the first time in a long time, there is reason for the consumer to pause."

While spending overall remained strong to start the year, we have seen signs that consumers are changing or planning to change their spending habits and using less money.

People are spending less on cars, big-ticket items at Costco, and even trading down for lower-priced grocery items.

In other words, consumers are still unsure if the US economy will successfully avoid a recession and inflation is taking its toll on your wallets even when it might not seem like it.

You can see the entire CNBC interview here:

• CEOs are condemning Hamas and expressing support for Israel in messages to employees.
• Microsoft CEO Satya Nadella and Google boss Sundar Pichai have publicly condemned the attacks.
• JPMorgan Chase CEO Jamie Dimon also issued a note to staff in Israel.

CEOs around the world are expressing support for Israel amid its ongoing war with Hamas.

Microsoft

• The US government has provided more aid to Israel than it has to any other foreign country since World War II. 
• Biden said this week he will ask Congress to send Israel additional aid in

• A recent report highlighted the pay penalty between teachers and college graduates in other roles.
• The author found this pay penalty was at a record in 2022 when controlling for education and other factors.
• Pay is just one issue; the author said "teaching is becoming increasingly stressful."

Teachers have historically faced lower pay than other workers, and the gap got

• Ray Dalio warns the Israel-Hamas conflict is likely to trigger more clashes in other places.
• The risk of a world war that includes the US and China has risen to 50%, the elite investor says.
• The economic historian says these kinds of battles tend to be brutal and often spread.

The Israel-Hamas clash threatens to spark other bloody battles, meaning

• Israel declared war against the Palestinian militant group Hamas, after violent attacks in Gaza.
• More than 300,000 Israelis have been called to military service

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Mortgage rates started the week elevated. The latest Freddie Mac data, which reflects average rates from last Thursday through Wednesday, showed that 30-year mortgage rates reached a new 23