Costco Next, an online marketplace Costco members often regarded as one of the retailer’s most coveted hidden perks, has quietly disappeared from the company’s website. 

The service gave members up to 40% off on certain products not offered at its warehouses. The program featured items from a specific list of vendor partners, ranging from home goods and luggage to electronics.

Shoppers visiting the Costco Next online page are now met with a message: “Access to Costco Next storefronts is no longer available.” 

Costco said shoppers seeking to return items previously purchased through the program should contact the vendors directly. 

COSTCO’S LESSER-KNOWN MEMBERSHIP BENEFITS, EXPLAINED

“Please refer to the list below for contact information for vendors with active return policies. For eligible returns and warranty inquiries, contact the vendor directly,” the retail giant said. 

The program previously featured about 80 vendors, including Anker Electronics, Caraway, Travelpro and Priority Bicycles. In the program, shoppers who selected an offer through Costco’s website were redirected to a custom storefront on the vendor’s website, where they completed the purchase directly with the brand. 

Ticker	Security	Last	Change	Change %
COST	COSTCO WHOLESALE CORP.	925.41	-3.07	-0.33%

Some shoppers said they noticed the closure on Sept. 1, with the move apparently coming without warning. 

“A real bummer for the deals,” one Reddit user said. 

COSTCO BRINGS BACK FAN-FAVORITE KIRKLAND TREAT AFTER TWO-YEAR ABSENCE

The decision came as the platform appeared to be gaining momentum.

During the company’s third-quarter 2025 earnings call on May 29, 2025, Costco Next’s quarterly sales equaled the platform’s total sales for the entire 2022 fiscal year. 

Nino Garcia, assistant general merchandise manager at Costco Next, previously said the concept was born in 2016 and took several years to fully materialize as the retailer refined the program. 

CLICK HERE TO GET FOX BUSINESS ON THE GO

“The Costco Next idea was born in 2016 but did not fully materialize until a few years later,” Garcia said. 

“There was a real learning curve as we developed the program, and there were a lot of refinements, from site improvements and product selection, to ensuring that every supplier understood the concept. In the end, Costco’s goal will always be the same: offering our members quality goods at a great value.” 

FOX Business reached out to Costco for more information.

NEW YORK — U.S. stocks climbed sharply Thursday morning, with the Dow Jones Industrial Average up 422.37 points, or 0.80%, to 53,484.32 as of 9:59 a.m. ET, extending Wall Street’s recovery from a bruising start to the week amid easing bond yields and news of a major acquisition by chip giant Nvidia.

The S&P 500 gained 0.57% and the Nasdaq Composite climbed 0.64%, while the small-cap Russell 2000 outperformed both benchmarks, jumping 1.13%. The broad-based rally came as markets searched for further gains following three consecutive days of declines earlier in the week, with investors also looking ahead to Friday’s closely watched U.S. labor market report for additional clues on the economy’s trajectory.

The benchmark 10-year Treasury note yield eased to around 4.75%, pulling back after touching its highest level since November 2023 on Wednesday. The retreat in yields followed comments from Federal Reserve Governor Christopher Waller, who said he would be “inclined to support” holding interest rates steady if upcoming inflation data continue showing signs of improvement, according to remarks reported by CNBC. The comments offered some relief to markets that had been rattled in recent sessions by concerns over a more aggressive Fed tightening path.

Thursday’s gains built on a rebound that began Wednesday, when the Dow rose 295.07 points, or 0.56%, to close at 53,061.95, snapping a three-day losing streak alongside the S&P 500 and Nasdaq. Nvidia led Wednesday’s advance, rallying more than 3%, while American Express and Walt Disney also posted solid gains. Honeywell International was the session’s biggest Dow decliner, falling nearly 2%, with 3M and Microsoft also finishing lower.

Adding to Thursday’s positive momentum was news that Nvidia has agreed to acquire artificial intelligence model platform Hugging Face for $12.93 billion, according to a report from the Financial Times, marking the latest move by the $5.4 trillion chip company to deepen its footprint across the AI industry. Nvidia shares rose 0.55% to $225.64 following the report. Hugging Face, which serves as a widely used repository for millions of AI models and datasets and has positioned itself as a leading champion of open AI systems, had previously turned down a $500 million investment from Nvidia last year that would have valued the company at $7 billion, opting instead to maintain its independence.

Oil prices, which have been a significant driver of market volatility in recent sessions amid the ongoing conflict between the United States and Iran, steadied somewhat Thursday after a three-day rally. West Texas Intermediate crude traded near $91 a barrel, having surged roughly 9% over the preceding three trading sessions, while Brent crude settled below $96 on Wednesday after climbing as high as $95.63 that same session.

President Donald Trump commented on the trajectory of the renewed U.S. military campaign against Iran, suggesting the latest round of strikes would not extend indefinitely.

“I don’t think too long,” Trump said when asked how long the current bombing campaign might continue, while also noting the U.S. remained “prepared to do another one” if circumstances warranted further action. Trump separately reiterated his claim that the United States controls the Strait of Hormuz, a critical global shipping corridor for oil exports that has featured prominently in the ongoing conflict.

The renewed U.S. strikes followed several weeks of relative calm in the six-month war, with Iran responding by launching drones and missiles targeting American military bases across the Middle East, continuing a pattern of retaliation that has characterized much of the conflict’s duration. Market analysts have noted that while some oil exports have continued departing the Persian Gulf aboard tankers operating with their transponders switched off, the latest escalation has raised renewed concern among traders over the potential for deeper disruptions to regional oil supply chains.

Beyond the geopolitical and monetary policy developments driving Thursday’s session, corporate earnings news continued to shape individual stock movements this week. Dell Technologies was among the strongest performers in the S&P 500 earlier in the week, surging 13% after the company beat both revenue and earnings estimates and raised its forecast for fiscal year 2027. Palo Alto Networks moved in the opposite direction, falling 10% despite reporting better-than-expected fourth-quarter results, illustrating the market’s continued sensitivity to forward guidance even when current-quarter performance exceeds expectations.

Sector performance across the S&P 500 has shown broad participation in the recent rebound, with nine of the index’s 11 sectors posting gains earlier in the week, led by materials stocks, which climbed 1.6%. Real estate lagged behind the broader market, falling 0.6% amid continued sensitivity to elevated borrowing costs within that sector. So far in the third quarter, both the Dow and S&P 500 remain higher, putting the indexes on track for back-to-back quarterly gains, while the Nasdaq has traded closer to flat for the quarter after briefly turning positive earlier in the week.

Financial and technology stocks have shown particular resilience in recent sessions, recovering after the earlier run-up in Treasury yields had weighed on the outlook for credit-sensitive sectors. Major technology “hyperscaler” companies posted gains earlier in the week, with Alphabet rising 0.6%, Meta Platforms climbing 2.5%, and Oracle advancing 3.1%, reflecting continued investor enthusiasm for companies positioned to benefit from ongoing artificial intelligence infrastructure spending.

Beyond equities, market watchers have also pointed to a notable rise in retail participation in alternative investment vehicles this year. According to a Bank of America Institute report cited in recent market coverage, roughly 5% of Bank of America customers used a sports betting or prediction-market platform in July, marking a 40% increase from the start of 2026. The number of people making their first payment to such platforms in June and July was more than three times the level recorded in January, according to the same report, reflecting a broader shift in how younger investors are engaging with speculative markets alongside traditional equities.

With Friday’s labor market report looming as the next major catalyst for markets, investors will likely continue weighing the competing forces shaping this week’s trading: easing Treasury yields and dovish signals from Federal Reserve officials on one hand, and the unresolved Iran conflict’s implications for oil prices and broader inflation expectations on the other, as Wall Street looks to extend its recovery from the volatility that characterized the start of the week.

ET Intelligence Group: While India Inc’s aggregate operating margin has been under pressure over the past few quarters amid higher input costs, large-cap companies have taken a bigger hit compared with their mid- and small-cap counterparts. A higher operating leverage and India-centric focus have helped mid- and small-cap companies.

According to an ETIG analysis of 3,340 companies excluding banks and finance companies, the operating margin of the large cap sample for the June quarter contracted by 280 basis points year-on-year to hit a 13-quarter low of 14.3%. In comparison, though mid- and small-caps operate at a lower profitability, their margins showed lesser contraction. For small-caps, it fell by 100 basis points to 7.7% whereas mid-cap margin remained flat year-on-year at 12.8%.

Each of the three samples showed a higher proportion of raw material costs relative to sales, which affected margins. For large-caps, the ratio increased by 530 basis points year-on-year to 36%. The mid- and small-caps had a greater proportion of input costs in revenue compared with the large-caps. For mid-caps, the ratio went up by 300 basis points to 45.8% while it rose by 550 basis points to 57.5%.

For the total sample, operating margin fell by 230 basis points year-on-year to 13.5%. It skidded below 14% for the first time in at least 13 quarters.

Read more: Banks offer semi-fixed loans to deploy surplus liquidity

Additionally, mid- and small-caps fared better than large-caps in terms of revenue and net profit growth. Revenue grew at a nine-quarter high of 23.7% and 30.2% for mid- and small-caps respectively. Net profit also grew in double digits – 21.2% for mid-caps and 26.7% for small-caps. While large-caps posted strong revenue growth of 22%, net profit growth was modest at 1.6%, the slowest in seven quarters.

SYDNEY — Australian shares closed lower Friday, with the benchmark S&P/ASX 200 index falling 13.6 points, or 0.15%, to 9,006.5, snapping a two-session winning streak despite a strong overnight lead from Wall Street and a rally in gold prices.

Friday’s session had opened on a positive note, with futures pointing to a gain of roughly 22 to 25 points, or about 0.25%, following a robust overnight performance on U.S. markets. The Dow Jones Industrial Average rose 1.18% to 1.2%, the S&P 500 gained around 1.06% to 1.1%, and the Nasdaq Composite jumped 1.4% overnight, buoyed by Nvidia’s confirmed $12.93 billion acquisition of AI platform Hugging Face, its second-largest deal ever, along with a broad rally in software stocks following Snowflake’s beat-and-raise quarterly earnings report.

Despite that positive overseas lead, the local market ultimately gave back its early gains to finish the session in negative territory, extending a choppy pattern that has characterized Australian trading throughout the first week of September. Thursday’s session, by contrast, had ended firmly higher, with the ASX 200 rising 0.45% to 0.46% to close at 9,020.1, driven by strength across the gold, financials and healthcare sectors.

A significant driver of Friday’s softer tone came from a fresh batch of companies trading ex-dividend, a mechanical factor that typically weighs on an index’s headline performance regardless of underlying market sentiment. Stocks trading without entitlement to their latest dividend payout Friday included auto retailer Eagers Automotive, fuel retailers Ampol and Viva Energy Group, and broadband provider Aussie Broadband, the latter of which is set to pay a 3.6 cents per share fully franked dividend on Sept. 21.

Gold miners were positioned as one of the session’s few bright spots, with Evolution Mining and Newmont Corporation both tipped for strength after the price of gold surged overnight. According to CNBC, gold futures climbed 2.4% to $4,520.10 an ounce, with the rally attributed to a softer U.S. dollar and falling Treasury yields following dovish comments from Federal Reserve Governor Christopher Waller, who indicated he could support holding interest rates steady if incoming inflation data continues to show signs of improvement.

Energy stocks including Santos and Woodside Energy Group also found support from continued strength in crude oil prices, which extended their recent climb overnight amid the ongoing conflict between the United States and Iran. According to Bloomberg, West Texas Intermediate crude rose 0.8% to $91.69 a barrel Thursday, building on gains recorded earlier in the week as the geopolitical standoff in the Middle East continued to keep energy markets on edge, with reports of Iran striking U.S. bases in Kuwait and the United Arab Emirates adding to the tension.

Uranium producer Paladin Energy also drew attention Friday after brokerage Bell Potter reiterated its buy rating and $14.80 price target on the stock, citing continued confidence in the company’s outlook within the broader nuclear fuel sector.

Beyond the day’s trading action, broader economic data released Friday added to a more cautious undertone for the Australian market. The country’s Home Value Index fell 0.4% in August, extending a decline that has now persisted since early 2022 and leaving national home prices roughly 18% below their January 2022 peak, according to figures cited by market commentators. The continued weakness in the housing market has weighed on the broader domestic demand outlook, adding another layer of uncertainty for investors already grappling with the prospect of further Reserve Bank of Australia tightening.

Interest rate markets have continued pricing in the possibility of additional RBA rate hikes in the months ahead, with futures markets reflecting roughly 13 basis points of tightening priced in for the RBA’s September meeting and a full 25-basis-point increase anticipated by the bank’s Melbourne Cup Day meeting on Nov. 3. That expectation has continued to weigh on rate-sensitive sectors of the Australian market, particularly the major banks, even as resource-linked stocks have found support from rising commodity prices tied to the ongoing Middle East conflict.

Regional context has also weighed on sentiment, with the Reserve Bank of New Zealand raising its Official Cash Rate to 2.75% earlier in the week, a move that has added to a broader narrative of central banks across the Asia-Pacific region grappling with sticky inflation pressures amid elevated energy costs.

Friday’s session also came against the backdrop of a well-documented seasonal pattern for Australian equities. According to historical data compiled by Market Index, the ASX 200 has averaged a 0.42% decline in September since 1980, making it historically the worst-performing month of the year for the index, with total returns data since 2001 showing an even steeper average decline of 0.65% for the month. Analysts have pointed to a long list of historically significant September market events, ranging from the 1990 Gulf War oil shock to the September 2001 terrorist attacks and the 2022 inflation-driven selloff, as context for the month’s consistently weak seasonal track record, even as they caution that historical patterns do not guarantee any particular outcome in a given year.

Company-specific volatility also remained a feature of the Australian market this week, with aged care operator Regis Healthcare among the most dramatic movers, falling more than 27% in a single session earlier in the week amid ongoing uncertainty tied to government aged care funding policy. Elsewhere, payments company Block and technology stock 360 Capital both posted strong gains during Thursday’s session, each rising more than 4%, reflecting continued pockets of strength within the local technology and financial sectors even as the broader market has traded with a distinctly cautious tone through the first week of the new month.

With the local market’s early-September performance continuing to reflect a tug-of-war between resource-sector strength tied to rising commodity prices and broader concerns over domestic interest rates, housing weakness and the unresolved Middle East conflict’s implications for global energy markets, investors are likely to remain focused on incoming economic data both locally and in the United States for further direction as the ASX 200 looks to build on its recent gains heading into the following week of trade.

NEW YORK — The Russell 2000 Index, the benchmark tracking small-cap U.S. stocks, edged higher Thursday morning, trading at 2,964.50, up 11.33 points, or 0.38%, as of 9:55 a.m. ET, as investors weighed a modest pullback in Treasury yields against lingering concerns over the Federal Reserve’s next interest rate move.

Thursday’s gain came as the broader stock market extended its rebound from a rocky start to the week, with the S&P 500 and Dow Jones Industrial Average also trading higher amid easing bond yields and news of a major acquisition by chipmaker Nvidia. The benchmark 10-year Treasury note yield eased to around 4.75%, pulling back after touching its highest level since November 2023 earlier in the week, offering some relief to small-cap stocks, which tend to carry higher debt loads and greater sensitivity to borrowing costs than their large-cap counterparts.

Despite Thursday’s modest advance, the Russell 2000 has faced meaningful volatility in recent sessions, reflecting broader uncertainty over the direction of Federal Reserve policy. According to market strategist Phil Rosen, writing this week, the index remains up 25% over the trailing 12 months, but has given back ground recently amid growing speculation that the Fed could move to raise interest rates rather than cut them further.

“Small-cap stocks have almost nothing to show for the last four years before this one,” Rosen wrote, noting that the Russell 2000 is up 28% since 2021, with nearly all of those gains arriving within just the past year. Rosen said the rally had largely priced in expectations of lower borrowing costs, but that traders have increasingly begun pricing in the possibility of a Fed rate hike before 2027.

According to data cited by Rosen, futures markets tied to the CME show roughly a two-in-three probability of a rate hike at the Fed’s meeting later this month, a shift in sentiment Rosen attributed in part to a hawkish-leaning speech delivered by Fed official Kevin Warsh at the Jackson Hole symposium the previous week.

“Since Warsh spoke last week, the 2-year Treasury yield has climbed to its highest level since 2023 while the Russell 2000 has fallen more than 3 percent, a steeper drop than the S&P 500’s 1.3 percent,” Rosen wrote, underscoring the outsized sensitivity small-cap stocks have shown to shifting rate expectations compared with larger, less leveraged companies.

Small-cap companies are widely viewed as more exposed to changes in benchmark interest rates than their large-cap peers, given their comparatively higher reliance on debt financing and floating-rate borrowing structures. According to estimates from Bank of America cited by Rosen, every 25-basis-point increase in the Fed’s benchmark rate reduces Russell 2000 operating earnings by roughly 2%, illustrating the direct earnings impact that even modest policy shifts can have across the small-cap universe.

Rosen also flagged a potential warning sign embedded within this year’s rally, noting that unprofitable companies within the Russell 2000 have actually outperformed their profitable counterparts during the run-up, a pattern some market watchers view as indicative of speculative excess rather than fundamentally driven gains, and one that could leave the index particularly vulnerable if borrowing costs rise further.

Thursday’s modest rebound in small-cap stocks followed a similarly positive session Wednesday across the broader market, when the Dow Jones Industrial Average rose 295.07 points, or 0.56%, and the S&P 500 and Nasdaq each gained roughly 0.5%, snapping a three-day losing streak that had been driven largely by concerns over elevated bond yields and rising oil prices tied to the ongoing conflict between the United States and Iran.

Historical performance data compiled by asset managers has generally painted small-cap stocks as significant beneficiaries during Federal Reserve rate-cutting cycles, given their heightened sensitivity to borrowing costs. According to data cited by asset manager ProShares, the Russell 2000 has outperformed the S&P 500 by at least 4% annualized over the one-, two- and three-year periods following each of the last seven Fed rate-cutting cycles. That historical relationship, however, cuts both ways, meaning renewed speculation about a potential rate increase, rather than further cuts, has introduced fresh uncertainty into the outlook for small-cap performance heading into the final months of 2026.

Earlier this year, small-cap stocks had significantly outperformed their large-cap peers, with the Russell 2000 at one point outpacing the S&P 500 by as much as 8 percentage points, according to analysis from Russell Investments. That performance gap has narrowed considerably since, as investor caution tied to developments in the Middle East and shifting interest rate expectations weighed more heavily on smaller, more economically sensitive companies compared with their larger counterparts.

Small-cap valuations, meanwhile, continue to trade at a meaningful discount relative to large-cap stocks, a dynamic some analysts view as a potential source of longer-term opportunity even amid near-term volatility. Analysts tracking the broader small-cap earnings picture have projected earnings growth in the high teens to low 20% range for small-cap companies over 2026 and 2027, though realizing that growth in the face of a potentially higher interest rate environment remains a key point of uncertainty for investors evaluating the space heading into next year.

For now, Thursday’s gain leaves the Russell 2000 modestly higher on the day, even as the index continues navigating a more uncertain macroeconomic backdrop than it faced earlier in the year, when expectations for continued Fed rate cuts had helped drive a substantial rally in small-cap shares. With the Fed’s next policy decision looming later this month, and Friday’s closely watched U.S. labor market report set to offer additional clues on the economy’s trajectory, investors in small-cap stocks are likely to remain focused on incoming economic data and Fed commentary for signals on whether this year’s small-cap rally can find its footing again, or whether renewed rate hike concerns will continue to weigh on the sector in the weeks ahead.

This article was written by

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Gold held steady on Friday and was poised for ​a small weekly gain, ​as attention turned to highly awaited U.S. payrolls data ​for clues on the Federal Reserve’s next interest rate decision.

FUNDAMENTALS

Spot gold held its ground at $4,475.75 per ounce, as of 0040 GMT. Prices jumped 2% ‌on Thursday ⁠as ⁠traders scaled back expectations for a September rate hike after Fed Governor Christopher Waller said he would support leaving rates unchanged if data continued to show inflation pressures moderating.
U.S. gold futures for December delivery fell 0.4% to $4,522.60.

Traders are pricing in an about 50% chance of ​a Fed rate hike later this month, ⁠according to ‌the CME FedWatch Tool.

Though gold is ​often viewed ​as an inflation hedge, elevated interest rates tend ⁠to weigh on the non-yielding asset.

The U.S. ​nonfarm payrolls report is due at 1230 GMT.
Data showed the number of Americans filing claims for unemployment benefits rose marginally last week amid low layoffs, pointing to stable labour market conditions.The European Central Bank will likely raise rates on September 10 for the second and final ‌time in what would be its shortest hiking campaign in 15 years, according to a Reuters poll.

Among ​other metals, spot ​silver fell ⁠0.1% to $66.88 per ounce, platinum lost 0.3% at $1,820.18 and palladium declined 0.4% to $1,415.37.

Impala Platinum said on Thursday its annual profit increased more than ​31-fold, driven by higher platinum group metal prices.

DATA/EVENTS (GMT)

0600 Germany Industrial Orders MM Jul

0600 Germany Manufacturing O/P Cur Price SA Jul

0600 Germany Consumer Goods SA Jul

0830 UK S&P Global PMI: MSC Composite Aug

1230 US Non-Farm Payrolls Aug

1230 US Unemployment Rate Aug

1230 US Average Earnings YY Aug

Oil prices rose on Friday and are on track for the steepest weekly gain since mid-July as rising tensions and renewed U.S.-Iran hostilities heightened concerns over Middle East supply risks.

Brent crude futures rose 15 cents, or 0.2%, to $95.67 a barrel at 0100 GMT, while U.S. West Texas ‌Intermediate crude ⁠futures were ⁠up 26 cents, or 0.3%, at $91.56.

On a weekly basis, Brent rose 7.1% and ​WTI was 9.8% higher, set for the highest gains since the week ended ​July 20.

U.S. attacks this week that killed and wounded dozens, including Iranian civilians, marked the fiercest clashes between the two countries since ​July.

The war, which began with U.S.-Israeli strikes ⁠at the ‌end of February, is now in its seventh ​month.

Israeli Defence ​Minister Israel Katz renewed warnings that Israel would “cripple” ⁠Iran’s military and civilian infrastructure, including energy facilities.
U.S. Vice ​President JD Vance told reporters on Thursday that ​Washington does not plan to hold talks with Iran unless Tehran stops attacking commercial shipping in the Strait of Hormuz.Capping oil’s advance, however, Russian President Vladimir Putin said there remained a path to a deal to end the war in Ukraine, adding that both ‌the U.S. and China were prepared to support a peace settlement.

Meanwhile, Iran expanded its list of vessels it deems ​non-compliant and ​subject to fines, ⁠confiscation or detention if they attempt to transit the strait. Iraqi ships remain among the few vessels Tehran has cleared to pass through Hormuz.

Iraq ​increased its oil exports to around 2.34 million barrels per day in August from about 1.35 million bpd in July, two Iraqi energy officials said on Wednesday, with September exports also expected to increase as heavy discounts and Iranian approvals for Iraqi tankers encouraged buyers.