Axios

Instagram is considering going into e-commerce, The Verge reports, which — if it does — could be the biggest new thing in U.S. online retail.

Why it matters: Instagram ads are advantaged by something Amazon and other retailers don't have — data on what people think is cool.

The New York Times published an unprecedented anonymous op-ed today by a senior Trump administration official who claims membership in an effort to actively undermine the president.

Why it matters: It's not normal for the Times to publish an anonymous staffer bagging on the president — and the fact that the Times permitted anonymity suggests they're taking this person's words seriously. (The Times knows the staffer's identity and is keeping it secret to protect that person's job.)

Dan looks into why the U.S. still is a leader in producing computer chips, and what could change it, with Axios chief technology correspondent Ina Fried. Plus, in the "Final Two" Dan examines the death of Theranos, and the birth of Smart Cities.

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• Go deeper: America’s chipmakers go to war vs. China

For all the wishful thinking about manufacturing more laptops and iPhones in the U.S., there is one sector of tech manufacturing where America remains a leader: computer chips.

The bottom line: Some $44 billion worth of semiconductors are exported from the U.S. each year, making them America's fourth leading manufacturing export after cars, airplanes and refined oil. There are roughly 80 wafer fabrication plants (aka fabs) in the U.S., spread across 19 states.

The trade deficit, the difference between goods exported from America and imported from other countries into the U.S., jumped 9% in July, according to the Commerce Department.

The big picture: President Trump's desire to eliminate the trade deficit is at the center of his trade policy, but the U.S. sold fewer items like civilian aircraft and soybeans to foreign countries, while imports —including purchases of computer accessories and auto parts—hit a record high.

As workers' overall compensation has risen since 1980, health benefits have taken up a big piece of the pie for lower- and middle-income workers. Wealthier workers, meanwhile, have seen bigger gains in their paychecks, according to a report by the Council for Affordable Health Coverage.

Between the lines: The study found that the bottom 60% of hypothetical two-earner households would have seen their net earnings decline between 1999 and 2015 after paying their own share of rising health premiums. The same is true for the bottom 40% of single earners.

Nike shares fell more than 3% on Tuesday after the company announced a new ad campaign featuring Colin Kaepernick — the first NFL player to kneel during the national anthem.

Why it matters: It's the type of news that analysts would typically write research reports on, especially given the stock reaction, but Axios could find only one major investment firm that issued a client note specifically on this topic.

Labor Day has traditionally marked the official start of midterm Congressional campaigning as voters settle into their fall routines and start watching more TV (where they could see a deluge of campaign ads). Not anymore.

The bottom line: Democrats have been protesting since President Trump's election. The Democratic Party jumped in early this cycle to harness that energy into voting, but Republicans were watching that too — forcing both parties to start their midterm campaigning earlier than ever before.

U.S. entitlement spending is increasingly going to the middle class, according to newly released data by the Congressional Budget Office.

Why it matters: As wages have remained stagnant, more people can't afford middle-class basics, and income inequality grows, the middle class is increasingly relying on the federal safety net, according to the new report by Brookings Institutions' Future of the Middle Class Initiative. "It is a mistake, now, to think of welfare as something just for the poor," Richard Reeves, the report's author tells Axios.