Treasury Secretary Scott Bessent promised on Monday that the Trump administration would make &#8220;several announcements in the next 48 hours&#8221; regarding President Donald Trump&#8217;s trade agenda.
Bessent said during an interview with CNBC&#8217;s &#8220;Squawk Box&#8221; that the president is actively &#8220;trying to get everyone across the finish line&#8221; on agreements. Bessent&#8217;s comments come hours after Commerce Secretary Howard Lutnick, in an interview alongside Trump on Sunday, <a href="https://www.cnbc.com/2025/07/06/stock-market-today-live-updates.html">said</a> that tariffs will take effect on August 1, pushing back the plan for Trump&#8217;s &#8220;Liberation Day&#8221; tariffs to hit countries around the world on July 9 after a 90-day reprieve.
&#8220;What President Trump is concerned about is the quality of the deals, not the quantity,&#8221; Bessent said.
&#8220;My mailbox was full last night with a lot of new offers, a lot of new proposals,&#8221; he added. &#8220;So it&#8217;s going to be a busy couple of days. But importantly, too, President Trump has said that the countries would not go back to the recipricol [tariff] rate until August 1.&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a> on trade negotiations: &quot;We are going to have several announcements in the next 48 hours&#8230; What President Trump is concerned about is the quality of the deals, not the quantity&#8230; It&#39;s going to be a busy couple of days.&quot; <a href="https://t.co/xBWFDoaP7l">pic.twitter.com/xBWFDoaP7l</a>
&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1942197285720350979?ref_src=twsrc%5Etfw">July 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The Treasury Secretary <a href="https://www.dailywire.com/news/bessent-trump-will-revive-foreign-tariffs-if-countries-dont-move-along-by-august-1?author=Hank+Berrien&amp;category=undefined&amp;elementPosition=2&amp;row=3&amp;rowHeadline=Latest+News&amp;rowType=Vertical+Carousel&amp;title=Bessent%3A+Trump+Will+Revive+Foreign+Tariffs+If+Countries+Don%E2%80%99t+%E2%80%98Move+Along%E2%80%99+By+August+1">told</a> CNN on Sunday that Trump plans to send letters to countries, warning them to &#8220;move things along&#8221; or tariffs will &#8220;boomerang back to your April 2 tariff level.&#8221;
&#8220;So I think we’re going to see a lot of deals very quickly,&#8221; Bessent added.
Trump is also ramping up <a href="https://www.dailywire.com/news/trump-threatens-tariffs-for-countries-backing-anti-american-global-alliance?topStoryPosition=undefined&amp;author=Hank+Berrien&amp;category=News&amp;elementPosition=2&amp;row=1&amp;rowHeadline=Top+Stories&amp;rowType=Top+Stories&amp;title=Trump+Threatens+Tariffs+For+Countries+Backing+%E2%80%98Anti-American%E2%80%99+Global+Alliance">pressure</a> on countries that align with &#8220;anti-American&#8221; trade policies of the BRICS nations, which include Brazil, Russia, India, and China. Ten countries have recently become &#8220;partner states&#8221; with BRICS, which could potentially lead to their inclusion as member nations. The 10 &#8220;partner states&#8221; include Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Thailand, Vietnam, Uganda, and Uzbekistan.
&#8220;Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff,&#8221; Trump posted on Truth Social as the BRICS nations met in Rio de Janeiro. &#8220;There will be no exceptions to this policy. Thank you for your attention to this matter!&#8221;
The stock market is down on Monday amid President Trump&#8217;s renewed push for trade. The Dow Jones Industrial Average futures dropped 70 points Monday morning, the S&amp;P 500 futures fell 0.3%, and the Nasdaq 100 futures were down 0.5%.

Scott Bessent

Bessent Promises ‘Several’ Trade Announcements Over ‘The Next 48 Hours’

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NEW YORK (Reuters) — Wall Street advanced on Tuesday as investors welcomed a fragile truce with Israel and Iran while parsing Federal Reserve Chair Jerome Powell&#8217;s congressional <a href="https://www.dailywire.com/news/jerome-powell-suggests-delaying-rate-cuts-beyond-july-meeting-while-fed-studies-tariff-impact">testimony</a> for clues regarding the U.S. central bank&#8217;s path forward.
All three major U.S. stock indexes were on track for their second straight session of solid gains following U.S. missile strikes on Iran&#8217;s uranium enrichment assets.
The benchmark S&amp;P 500 was less than 1% below its all-time closing high reached on February 19.
Late Monday, U.S. President Donald Trump announced a ceasefire agreement, but then on Tuesday, the president <a href="https://www.dailywire.com/news/trump-holds-ceasefire-after-israel-refrains-from-major-retaliation-for-irans-strike-on-civilians">stepped in</a> to urge Israel to stand down on a retaliatory attack on Iran after Iran killed at least four people in an attack in southern Israel targeting civilians just before the ceasefire went into effect.
Still, investors viewed the ceasefire as a sign of de-escalating tensions.
&#8220;The market has learned very precisely over the last generation that any time there’s a geopolitical flare-up in the Middle East that affects U.S. financial markets, those effects will be short-lived,&#8221; said Scott Ladner, chief investment officer at Horizon in Charlotte, North Carolina.
&#8220;The ceasefire is just cementing that view,&#8221; Ladner added.
Crude prices slid on waning supply concerns related to the conflict, dragging energy shares lower.
Powell, speaking before the U.S. House of Representatives Financial Services Committee, reiterated his view that rate cuts can wait until the economic effects of tariff increases are better known, adding &#8220;we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance.&#8221;
Financial markets have been pricing in a more than 20% likelihood that the Fed will lower its key interest rate at the conclusion of its upcoming July policy meeting, and a near 70% probability that its first rate cut will land in September.
&#8220;We think September&#8217;s very likely and we think while July is not a zero probability event, it&#8217;s definitely a long shot,&#8221; Ladner said.
On the economic front, Consumer Confidence deteriorated this month, with pessimism toward the jobs market falling to its lowest level since March 2021.
The Commerce Department is expected to release its final take on first-quarter GDP on Thursday, and on Friday its closely watched Personal Consumption Expenditures (PCE) report will shed light on inflation, consumer spending and income growth.
The Dow Jones Industrial Average rose 513.96 points, or 1.21%, to 43,095.74, the S&amp;P 500 gained 71.64 points, or 1.19%, to 6,096.94, and the Nasdaq Composite gained 305.28 points, or 1.56%, to 19,936.25.
Among the 11 major sectors of the S&amp;P 500, Tech shares led the gainers, while energy stocks were the sole decliners.
Among megacap stocks, Tesla shares shed 2.0%.
Airline stocks gained altitude amid cooling Middle East tensions. The S&amp;P 1500 Airlines index advanced 2.3%.
But defense stocks lost ground, with Lockheed Martin and RTX Corp both off about 2.9%.
Shares of crypto companies rose after bitcoin hit a one-week high. Coinbase Global and Strategy advanced 11.7% and 3.8% respectively.
Broadcom touched a record high, after HSBC raised the semiconductor manufacturer to &#8220;buy&#8221; from &#8220;hold&#8221;. The stock was last up 3.4%.
Package delivery firm FedEx is expected to report quarterly results after the closing bell.
Advancing issues outnumbered decliners by a 3.38-to-1 ratio on the NYSE. There were 195 new highs and 49 new lows on the NYSE.
On the Nasdaq, 3,430 stocks rose and 1,007 fell as advancing issues outnumbered decliners by a 3.41-to-1 ratio.
The S&amp;P 500 posted 18 new 52-week highs and no new lows while the Nasdaq Composite recorded 109 new highs and 49 new lows.
(Reporting by Stephen Culp; Additional reporting by Kanchana Chakravarty in Bengaluru; Editing by David Gregorio)

Traders work on the floor of the NYSE in New York

Wall Street Rallies, S&P 500 Nears Record High As Middle East Tensions Cool

Iran

Israel

Middle East

Wall Street

On Thursday, after the Court of International Trade blocked President Donald Trump from imposing some of his harshest tariffs on foreign countries the day before, stock markets around the world soared.
“Futures for the S&amp;P 500 index jumped 1.5 percent, suggesting that stocks will open sharply higher when trading begins in New York,” the New York Times <a href="https://www.nytimes.com/2025/05/29/business/stocks-trump-tariffs.html" target="_blank" rel="noopener">reported</a>, adding that stocks rose in France, Germany, Hong Kong, Japan, and South Korea. The dollar rose on Wednesday after the ruling. The yield on the 30-year Treasury note climbed back over 5%. Chip giant Nvidia’s stock rose on Wednesday by more than 6%.
The Court’s ruling implies that ultimately “extreme tariffs and rapidly changing tariffs are less likely to happen going forward, which reduces uncertainty somewhat,” analysts at Panmure Liberum, a British investment bank, opined. But they cautioned that in the immediate future, the dispute between the Court and the Trump administration “will add significant uncertainty to the mix, making it even harder for U.S. businesses to plan.”
Trump had used the 1977 International Emergency Economic Powers Act to justify his call for higher tariffs. The Court gave Trump 10 days to end them, prompting the Trump administration to immediately file its plans to appeal the decision.
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“The ruling does not affect tariffs issued by the Trump administration under separate legal authorities, including levies on steel, aluminum and cars, and others that Mr. Trump has threatened on pharmaceuticals, semiconductors and other critical products,” The Times <a href="https://www.nytimes.com/2025/05/28/business/trump-tariffs-blocked-federal-court.html" target="_blank" rel="noopener">pointed out</a>.
The Court of International Trade has nine judges appointed by the president and confirmed by the Senate. The Court’s ruling on the tariffs was made by a tribunal of three judges; two of whom were appointed by Republicans and one of whom was appointed by Trump.
The panel did note two other statutes that Trump could use to justify tariffs, and that he has other avenues available to carry out his economic plans.
“The bottom line is that this ruling is just a <a href="https://www.barrons.com/articles/treasury-auction-boj-mof-debt-0b226a31?mod=article_inline" target="_blank" rel="noopener" data-type="link" data-testid="hyperlink">temporary setback</a> for the president and won’t really stop him. It makes things harder for Trump, but falls well short of taking tariffs off the table,” Barron&#8217;s <a href="https://www.barrons.com/articles/can-court-really-stop-trump-tariffs-a51402c1?mod=barronsgooglenews" target="_blank" rel="noopener">reported</a>.

Stock chart Stock market graph trading analysis investment financial, stock exchange financial or forex graph stock market graph chart business crisis crash loss and grow up gain and profits win up trend.

World’s Stock Markets React To Court Ruling Against Trump’s Tariffs

Retail giant Target revealed on Tuesday that customer boycotts damaged its sales in the first quarter, following the company&#8217;s January decision to scale back several diversity, equity and inclusion (DEI) initiatives.
Sales fell 2.8% from last year to $23.85 billion, below the $24.23 billion Wall Street expected, with Target now expecting a low-single digit decline in annual sales for 2025, a significant downgrade from its March projection of a 1% increase.
According to the company’s earnings <a href="https://corporate.target.com/press/release/2025/05/target-corporation-reports-first-quarter-earnings#:~:text=For%20fiscal%202025%2C%20the%20Company,be%20approximately%20%247.00%20to%20%249.00.">report</a>, “Comparable sales decreased 3.8 percent in the first quarter, reflecting a comparable store sales decline of 5.7 percent and comparable digital sales growth of 4.7 percent.”
Target, previously a staunch supporter of leftist causes, <a href="https://www.dailywire.com/news/target-rolls-back-dei-joining-other-major-companies-like-walmart-meta">announced</a> in January it would phase out several DEI initiatives after criticism from conservative activists and the White House.
Despite the reversal, the company continues to receive backlash from both the Right and the Left, with many conservatives arguing that the retailer’s retreat from DEI policies has come too late.
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In February, Target was <a href="https://www.dailywire.com/news/target-faces-shareholder-lawsuit-over-pride-campaign-dei-initiative-fallout">hit</a> with a class action lawsuit from shareholders who accused the retailer of misleading them about the risks posed by its DEI initiative, which the plaintiffs allege contributed to Target&#8217;s stock having plummeted more than 37% over the past year.
Rev. Jamal Bryant, who <a href="https://apnews.com/article/40-day-target-boycott-fast-dei-d1d40f79f5f1b3afb2dfe8561e7729a0">led</a> a nationwide 40-day boycott of Target stores after the company ended DEI initiatives in “a spiritual act of resistance,” called for a continuation of that effort.
“We faced several additional headwinds this quarter, including five consecutive months of declining consumer confidence, uncertainty regarding the impact of potential tariffs, and the reaction to the updates we shared on [DEI] in January,” Target CEO Brian Cornell <a href="https://www.cnn.com/2025/05/21/business/target-earnings-dei-tariffs">said</a> on an earnings call.
“I want to be clear that we’re not satisfied with these results,” Cornell added. “We’ve got to drive traffic back into our stores and visits to our site.”
The company faces additional challenges from potential tariffs on Chinese imports. While President Donald Trump&#8217;s threatened 145% tariffs were reduced to 30% in a May 12 deal, with some higher tariffs paused for 90 days, Target remains <a href="https://apnews.com/article/target-first-quarter-earnings-tariffs-ed5765bac92257a0bab3815ece31f5c1">vulnerable</a> due to its higher reliance on discretionary items compared to competitors like Walmart, according to the AP.
&#8220;We look at competition,&#8221; Cornell explained regarding potential price hikes. &#8220;We make adjustments literally each and every week, so we&#8217;re constantly adjusting pricing. Some are going up. Some will be reduced.&#8221;
The retailer operates nearly 2,000 stores nationwide with more than 400,000 employees, making its financial performance a significant indicator for the broader retail sector.
Out of 35 merchandise categories Target tracks, the company is currently gaining or maintaining market share in only 15, the AP reported.

Target’s DEI Drama Costs Big As Boycotts Impact Sales

Business

Diversity Equity and Inclusion (DEI)

Retail

U.S. job growth fuels a market rebound with all major stock indexes on the rise, President Donald Trump orders an end to taxpayer funding for NPR and PBS, and political unrest brews in Canada despite a fresh Liberal Party election win.
It’s Monday, May 5, and this is the news you need to know to start your day.
Morning Wire is available on video! You can watch today’s episode here:
 
<iframe loading="lazy" title="Trump’s “Boom” vs. Canada’s Meltdown! Plus No Money for NPR &amp; PBS." width="500" height="281" src="https://www.youtube.com/embed/abxF1FM1trM?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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If you’d rather listen to your news, today’s edition of the Morning Wire podcast can be heard below:
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<h2>Trump Touts Economic Comeback</h2>
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Topline: President Trump takes a victory lap as the economy shows signs of improvement. 
After a tumultuous month, stocks are rallying following a better-than-expected jobs report and optimism about trade deals. In the last week or so, markets have taken a bullish turn. On Friday, the DOW, NASDAQ, and S&amp;P 500 all jumped about a point and a half – the S&amp;P saw its ninth straight day of gains, the longest streak in twenty years. Overall, the DOW is now within 2% of where it was when Trump kicked off his &#8220;Liberation Day&#8221; tariffs, while the S&amp;P 500 and NASDAQ are higher than before. Markets have been fickle — there’s always a chance those gains are erased in a day or two — but this is a remarkable recovery so far.
Meanwhile, the April jobs report showed considerably more growth than projected. Economists expected 133,000 new jobs last month, but the number came in at 177,000 — 33% higher. Unemployment also held steady, and hourly wages saw a 4% increase from the same month last year. 
It’s worth noting who those new jobs are going to: Under President Joe Biden, foreign-born workers added nearly four and a half million jobs, but over the same timeframe, the number of American-born workers fell. But in April, the number of foreign-born workers decreased, meaning the net job growth last month was concentrated among workers born in America. Job growth was also concentrated in the private sector, as government employment declined for its third straight month due to the efforts of the Department of Government Efficiency (DOGE) project.
Markets also seem to be buoyed by reports that China may be willing to strike a deal with the United States to end the escalating tariff hikes that followed Trump’s Liberation Day announcement last month. Early last week, China was projecting an apparent willingness to dig in for a protracted trade war and weather the economic storm – the Chinese Communist Party said it was prepared to increase payouts for the unemployed, subsidize new housing projects, and incentivize its people to buy more domestic products. But on Friday, we saw our first major sign that Beijing was open to de-escalation, with the country’s commerce ministry saying, “If [The U.S.] wants to talk, our door is wide open.” 
As a sign of that new willingness to strike a deal, the <a href="https://www.nytimes.com/2025/05/03/world/asia/us-china-tariffs-fentanyl.html">Wall Street Journal</a> reported that Beijing is weighing a potential crackdown on fentanyl production as a show of goodwill, and has been reaching out for details on what the White House is looking for on that front.
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<h2>Trump Orders Elimination Of Funding For Public Broadcasters</h2>
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Topline: NPR and PBS threaten legal action after Trump ends their taxpayer funding.
President Trump signed an executive order Thursday to eliminate about $535 million in annual funding to NPR, PBS, and other public media. NPR and PBS vowed to fight the order in court.
President Trump has made it clear for some time that he is no fan of public broadcasting. Recently, he said, “Republicans must defund and totally disassociate themselves from NPR and PBS, the radical left monsters that so badly hurt our country.” He’s also said that taxpayer funding of media networks is “outdated and unnecessary” and “corrosive to the appearance of journalistic independence.”
In a statement on Friday, Patricia Harris, president and CEO of the Corporation for Public Broadcasting, immediately shot back, saying that the private nonprofit authorized by Congress is not “subject to the President’s authority.” Harris said Congress authorized the funding, so only Congress can revoke it. 
Paula Kerger, president of PBS, also issued a statement calling Trump’s order “blatantly unlawful.” 
“This is probably the most difficult and serious threat in the time that I&#8217;ve been in public broadcasting,” Kerger told PBS News Hour. “This idea that funds that had already been put aside for public broadcasting would be taken away.”
<h2> Oh Canada&#8230;</h2>
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Topline: Canada&#8217;s election season might be over, but the political drama is just beginning. Last week, Mark Carney led his Liberal party to a stunning comeback but <a href="https://www.ctvnews.ca/federal-election-2025/article/how-did-the-federal-election-change-canadas-representation-in-parliament/">fell just short</a> of a majority.
The Liberal Party of Canada has been in power for nearly ten years. Last week marked its fourth consecutive win, with Mark Carney as Prime Minister.  However, the party isn&#8217;t nearly as popular as that showing would lead you to believe – especially in the “prairie provinces,” where voters favored the conservatives by more than <a href="https://economictimes.indiatimes.com/news/international/canada/canada-election-2025-how-each-province-voted-liberal-fortresses-and-conservative-strongholds/articleshow/120733997.cms?from=mdr">2:1</a>. Carney’s predecessor, Justin Trudeau, was so unpopular that he had to step down to avoid a total electoral blowout. 
The Liberal surge in the polls happened around the same time Trump started floating the idea that Canada should become America’s 51st state. Many Canadians, particularly in Canada’s more densely populated east, rallied around Carney as “the best man to take on Trump,” but recent polling suggests that some Canadians would rather be part of the United States – or their own independent country – than remain in Canada under a Liberal government. According to polling from Angus Reid in early April, three-in-10 voters from Alberta and roughly 1-in-3 from neighboring Saskatchewan said that they would support leaving the country if Carney won – at least 20% in each province would have supported secession even if he lost. 
For reference, Quebec – a province with a large, influential openly separatist party – also reported 30% support for secession from Canada. Québécois separatists have existed for centuries, and the Bloc Québécois has been a major force in Canadian politics for decades. By contrast, Western separatism is younger and less organized, and so far, it has been more of a grassroots phenomenon, but as of now, it appears to be just as intense. 
Canada’s prairie provinces are <a href="https://www.statista.com/statistics/444816/canada-median-age-of-resident-population-by-province/">younger</a>, <a href="https://economicdashboard.alberta.ca/dashboard/gdp-per-capita/">wealthier</a>, less densely populated, and more dependent on resource extraction – mining, drilling, exporting oil. That’s put them into conflict with the federal government, which has taken steps to restrict the construction of pipelines and refineries. Former Prime Minister Trudeau went so far as to argue for phasing out the production of fossil fuels entirely before Western outcry forced him to walk that position back. Carney has also been a vocal advocate of <a href="https://www.un.org/en/climatechange/mark-carney-investing-net-zero-climate-solutions-creates-value-and-rewards">net-zero policies</a> and was a leading figure in the ESG movement (Environmental, Social, and Governance) when he worked in the financial sector. He was also an economic advisor to Trudeau, leading many skeptics to fear his government would be more of the same.
Last week, Alberta Premier Danielle Smith put forward legislation that would significantly lower the signature threshold for citizen-led referendums – as of now, that legislation has been tabled, and Smith and Carney are currently in talks, which are <a href="https://www.cbc.ca/news/canada/edmonton/smith-carney-first-step-1.7525714">reportedly</a> going well. However, the possibility of secession appears to be a piece of leverage, and as of now, it’s still on the table.

MorningWire-0505

Morning Brief: Trump’s Good And Bad Economy & Canada In Crisis

Canada

Media

Morning Wire

National Public Radio (NPR)

Public Broadcasting Service (PBS)

The United States economy added more jobs than expected in April, while government positions continued to decline, according to the April jobs report.
The Bureau of Labor Statistics released its monthly <a href="https://www.bls.gov/news.release/archives/empsit_05022025.htm">report</a> on Friday, showing that jobs had increased in April by 177,000, much more than the 133,000 that had been projected by the Dow Jones. At the same time, federal jobs declined by around 9,000 while the healthcare, transportation and warehousing, financial activities, and social assistance industries all saw growth. 
&#8220;This is the second month in a row where the jobs report has beat expectations,&#8221; <a href="https://www.whitehouse.gov/articles/2025/05/jobs-boom-more-americans-working-for-higher-pay/">said</a> White House Press Secretary Karoline Leavitt. &#8220;Wages are continuing to rise and labor force participation is increasing. This is exactly what we want to see. More Americans working for higher wages. More winning is on the way!”
The healthcare industry added 51,000 jobs, including 22,000 in hospitals and 21,000 in ambulatory services, while transportation and warehousing increased by 29,000, according to the report. The 177,000 jobs were lower than the 185,000 jobs that <a href="https://www.dailywire.com/news/we-cant-lose-march-job-growth-vastly-outpaces-expectations" target="_blank" rel="noopener">were added</a> in March, which also beat job growth expectations. 
Unemployment remained at 4.2%, and the labor force participation rate changed little. This was the first jobs report released after President Donald Trump announced &#8220;Liberation Day&#8221; tariffs. Most of those tariffs have been lowered to 10% across the board, with a 145% tariff on China.
The markets responded positively to the jobs report, with the Dow Jones Industrial Average, the S&amp;P 500, and the Nasdaq all jumping more than 1%.
Responding to the news, the White House&#8217;s official &#8220;Rapid Response&#8221; X account celebrated the job gains made in the private sector and the decline in government employment. According to the White House, more than 95% of the jobs added to the economy under President Donald Trump have come from the private sector, while around 25% of the jobs created during President Joe Biden&#8217;s final two years were government jobs.
&#8220;Federal employment has already shrank by 26,000 jobs under Trump after ballooning by 139,000 jobs in Biden’s last two years. President Trump is right-sizing government while unleashing private-sector growth,&#8221; the account posted.
Trump and his top donor, Elon Musk, have pushed for a variety of cuts across the federal workforce — from the IRS to the State Department — through Musk&#8217;s Department of Government Efficiency project. Some of the cuts have come through firings, while other departments have pushed federal employees to accept buyouts to vacate their jobs.
The White House also celebrated the job gains made among native-born Americans during President Trump&#8217;s first three months in office.
&#8220;Biden relied on government jobs and foreign-born workers. Native-born workers have fueled 97.6% of job growth under President Trump,&#8221; the White House posted. &#8220;In Biden’s final two years, native-born Americans accounted for only HALF (56.9%) of employment gains.&#8221;

President Trump Announces Aviation Safety Executive Orders In The Oval Office Of White House

Solid April Jobs Report Shows Govt Employment Drops As Private Sector Growth Beats Expectations

Department of Government Efficiency (DOGE)

Elon Musk

Jobs

Karoline Leavitt

Stock prices tumbled on Wednesday after a new report showed that the U.S. economy shrank in the first quarter of 2025.
The Dow Jones Industrial Average fell 0.8%, while The S&amp;P 500 dropped 1.1%. The tech-heavy Nasdaq Composite fell 1.5%, according to <a href="https://www.cnbc.com/2025/04/29/stock-market-today-live-updates.html" target="_blank" rel="noopener">CNBC</a>. The drop in value followed a report from the Commerce Department that showed the U.S. GDP shrank 0.3% in the first three months of the year.
“This is Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th. Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers,” President Donald Trump posted on <a href="https://truthsocial.com/@realDonaldTrump/posts/114427089568235019" target="_blank" rel="noopener">Truth Social</a> on Wednesday morning. “Our Country will boom, but we have to get rid of the Biden ‘Overhang.’ This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other. BE PATIENT!!!”
The underwhelming economic report hit after economists predicted that the U.S. GDP would grow by 0.4% in the first quarter. GDP contracted instead as Trump’s tariff policies drove up imports, which are subtracted from net exports as part of the calculation of a final GDP figure. It is the first contraction in the U.S. economy since the first quarter of 2022, according to <a href="https://www.wsj.com/economy/us-gdp-q1-2025-1f82f689" target="_blank" rel="noopener">The Wall Street Journal</a>.
Trump paused and cut billions in government spending, which suppressed GDP growth. Consumer spending fell, as well.
Trump’s moves on trade – hefty tariffs on China, Canada, and Mexico, alongside a flat 10% tariff across the board with higher duties threatened – had the largest impact on the GDP report. Net exports, which is U.S. exports minus imports, subtracted 5% from the rest of the GDP calculation, according to WSJ.
Wells Fargo economist Shannon Grein said that the topline GDP contraction makes the U.S. economy appear weaker than it is.
“The headline decline overstates weakness because a lot of that was tariff-induced pull-forward,” Grein said. “Overall, I think that it was a relatively solid underlying report when it comes to demand.”
The GDP report has sparked concerns that the United States could be in recession. A recession is typically defined as two consecutive quarters of economic contraction.
Commerce Secretary Howard Lutnick, in a cabinet meeting on Wednesday, said that Trump’s tariffs have spurred significant new investment in the United States. He also downplayed the impact of tariffs on the latest GDP numbers.
“I have the pleasure of running the investment accelerator, which gets to recruit these companies, and you&#8217;ve never seen anything like the companies committed to building in America. Technology companies have committed over $2.5 trillion to build in America based on your tariffs,” Lutnick said. “Sovereign countries all backing, the whole Middle East and all these countries backing their sovereign wealth funds, they all want to invest in America, and they&#8217;re coming in, again, over $3 trillion committed.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Commerce Secretary <a href="https://twitter.com/howardlutnick?ref_src=twsrc%5Etfw">@howardlutnick</a>: &quot;Technology companies have committed over $2.5 trillion to build in America based on your tariffs&#8230; Then you&#39;ve got the whole pharma industry knows it&#39;s got to come home&#8230; Auto is coming home, industrial is coming home.&quot; <a href="https://t.co/BHXpjTovB9">pic.twitter.com/BHXpjTovB9</a>
&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1917608615269261580?ref_src=twsrc%5Etfw">April 30, 2025</a></blockquote>
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Trump announced new investments and pledges to the United States from companies committed to building domestically because of tariffs totaling $8 trillion.
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President Trump and Commerce Secretary Lutnick tout the 8 TRILLION dollars of new investments in America as a result of tariffs.
Lutnick: &quot;And this is all driven by your tariff policies. No chance this would be happening without it.&quot; <a href="https://t.co/Q8nLnX294F">pic.twitter.com/Q8nLnX294F</a>
&mdash; Townhall.com (@townhallcom) <a href="https://twitter.com/townhallcom/status/1917606795486585080?ref_src=twsrc%5Etfw">April 30, 2025</a></blockquote>
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New York Stock Exchange

Stock Prices Drop After New Data Shows GDP Shrank Since Start Of Year

Department of Commerce

President Donald Trump said on Wednesday that the dropping stock market is the fault of former President Joe Biden, adding that slow economic growth is from &#8220;the Biden overhang&#8221; and &#8220;has NOTHING TO DO WITH TARIFFS.&#8221;
Trump made the comment on <a href="https://truthsocial.com/@realDonaldTrump/posts/114427089568235019" target="_blank" rel="noopener">Truth Social</a> as the Dow Jones Industrial Average, S&amp;P 500, and Nasdaq Composite all dipped again Wednesday morning. Since Trump&#8217;s massive tariff rollout, which began with hitting China, Canada, and Mexico in early February, the <a href="https://www.marketwatch.com/investing/index/djia?mod=mw_quote_switch" target="_blank" rel="noopener">Dow Jones</a> has dropped by around 5,000 points, the <a href="https://www.marketwatch.com/investing/index/comp?mod=mw_quote_switch" target="_blank" rel="noopener">Nasdaq</a> is down nearly 2,000 points, and the <a href="https://www.marketwatch.com/investing/index/spx?mod=mw_quote_switch" target="_blank" rel="noopener">S&amp;P 500</a> is down around 500 points.
&#8220;This is Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th,&#8221; Trump said. &#8220;Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers. Our Country will boom, but we have to get rid of the Biden &#8216;Overhang.&#8217; This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other. BE PATIENT!!!&#8221;
The president has <a href="https://www.pbs.org/newshour/politics/trump-tells-americans-to-be-patient-as-global-markets-keep-dropping-over-tariffs" target="_blank" rel="noopener">repeatedly</a> asked Americans to remain patient as his economic and trade policies take effect, but many Americans are still uneasy about how Trump&#8217;s tariffs will affect the U.S. economy. On Wednesday, a U.S. Department of Commerce report showed that gross domestic product fell at a 0.3% annualized pace over the first quarter of 2025, CNBC <a href="https://www.cnbc.com/2025/04/30/trump-gdp-tariffs-biden-overhang.html" target="_blank" rel="noopener">reported</a>. It was the first quarter of negative growth since the first quarter of 2022.
The Commerce Department report pointed to Trump&#8217;s tariffs as a reason for the decline in GDP in Q1, as companies tried to get ahead of the tariffs by ramping up imports. The Trump administration&#8217;s cut to defense spending also contributed to the GDP slowdown.
In January 2024, Trump took credit for a rising stock market under former President Biden. In a Truth Social post, Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/111840568643216314" target="_blank" rel="noopener">wrote</a>, &#8220;THIS IS THE TRUMP STOCK MARKET BECAUSE MY POLLS AGAINST BIDEN ARE SO GOOD THAT INVESTORS ARE PROJECTING THAT I WILL WIN, AND THAT WILL DRIVE THE MARKET UP.&#8221;
The stock market reacted positively last week after the Trump administration hinted that the trade war with China might be coming to an end. Last Tuesday, after Treasury Secretary Scott Bessent warned against a prolonged trade war, Trump said the 145% tariff on China &#8220;will come down substantially, but it won’t be zero.&#8221; As the White House says that numerous countries are ready to make a trade deal, Trump is still trying to bring China to the negotiating table.

Trump: This Is Biden’s Stock Market

Executive

Joe Biden

It’s not an exaggeration to say that conservative shareholder engagement is changing the corporate game. For years, Left-wing activists controlled the agendas at our largest companies, using not only their leverage as stockholders but their perpetual devotion to activism to get in the ear of America’s boards and directors. The result? Leftward drift in virtually every major company. But now conservative shareholders, from ordinary investors to major conservative nonprofits, are stepping into the game — and their engagements are bearing major fruit. The latest proof? IBM.
IBM’s track record on corporate bias and activism is notorious. The company was a member of the Global Alliance for Responsible Media (GARM), a group created by the World Federation of Advertisers that worked to <a href="https://www.dailywire.com/news/the-daily-wire-addresses-the-ad-industry-following-the-fall-of-garm" target="_blank" rel="noopener">keep ad revenue away</a> from conservative news sites like the Daily Wire to free speech-centric platforms like X. And that’s before all the DEI concerns surfaced. After IBM CEO Arvind Krishna was caught on a <a href="https://x.com/JamesOKeefeIII/status/1734374423124176944?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1734374423124176944%7Ctwgr%5E42e55266e59ec08d85550be6ab044097866bd072%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fdallasexpress.com%2Fbusiness-markets%2Fceo-of-tech-corp-ibm-enshrines-dei-hiring%2F">hot mic</a> discussing how the company uses quotas of ‘underrepresented’ minorities in determining their executive pay — in Krishna’s words, execs have “got to move both [race and gender] forward by a percentage point” in order to get a higher bonus. That means DEI. That means quotas. Following these snafus, the reputational, ethical, and (in the case of the Missouri AG who <a href="https://www.dailywire.com/news/missouri-attorney-general-sues-tech-giant-ibm-alleging-discrimination-against-whites-asians-men" target="_blank" rel="noopener">sued</a> IBM) legal scrutiny was swift in coming.
IBM’s motto since its early years has been “THINK,” referring to the innovative spirit with which the company solves problems. Yet when it came to political bias, that motto was missing in action — and shareholders took notice. In January, the firm I work for, Bowyer Research, began <a href="https://www.heritage.org/press/heritage-foundation-expands-efforts-hold-corporate-america-accountable-end-its-discriminatory" target="_blank" rel="noopener">work</a> with the Heritage Foundation to hold IBM accountable for the DEI quotas that Krishna described. The argument? Simple — use of non-meritocratic quotas based on race and gender aren’t just bad for reputation, but illegal on their face and bad for business. Shareholders, from major nonprofits to ordinary mom-and-pop investors, shouldn’t have their business returns impacted by IBM’s belief in identity politics.
As the shareholder engagement heated up on the internal front, pressure from <a href="https://lunduke.locals.com/post/5515346/the-ibm-red-hat-leaks-what-weve-learned-so-far" target="_blank" rel="noopener">journalists</a> and <a href="https://x.com/robbystarbuck/status/1910425361034383545" target="_blank" rel="noopener">influencers</a> like Robby Starbuck increased on the external front. That pressure built and built — and the release began earlier this month, when IBM announced the end of many of its DEI initiatives and related goals, including the elimination of its diversity council, the phaseout of its supplier diversity initiatives, and no longer participating in surveys put out by radical corporate <a href="https://www.dailywire.com/news/the-radical-intolerance-behind-woke-corporate-activism" target="_blank" rel="noopener">activist groups</a> like the Human Rights Campaign, which pressures companies to cover puberty blocker access for employees’ children in the name of “health care access.”
That would have been news enough — until several days ago, when IBM also <a href="https://www.heritage.org/press/heritage-foundation-secures-commitment-viewpoint-neutrality-ibm-encourages-company" target="_blank" rel="noopener">agreed</a> to include viewpoint neutrality as part of its advertising policy in response to Heritage’s shareholder engagement. That means that biased, activist-driven, political censorship that ad cartels like GARM perpetuate is now explicitly banned under IBM corporate policy. IBM listened to its shareholders, its employees, and its customers — and the result is another company willing to make commitments to political neutrality. This is what happens when authentic shareholder advocacy, championing political neutrality, merges with external pressure to drop corporate bias: change happens, and happens in the form of concrete policy commitments, not just boilerplate PR statements. It’s a praiseworthy step.
But is the scrutiny over? Absolutely not. IBM needs to demonstrate that they’re committed to actually staying the course on being politically-neutral and quota-free. Outstanding questions remain. During our engagement on behalf of Heritage, the company <a href="https://www.sec.gov/files/corpfin/no-action/14a-8/heritageibm3325-14a8.pdf" target="_blank" rel="noopener">notably claimed</a> to the SEC that they couldn’t give a definition of DEI as grounds to ignore shareholder concerns — so how did they go from not knowing what DEI is to getting rid of it? (You can probably guess how.) The company holds its annual meeting of shareholders today, and if they’re savvy will make a point of focusing their messaging on business, not activism.
Achieving the commitment to neutrality at IBM was the result of a myriad of groups, from shareholders like Heritage to <a href="https://adflegal.org/press-release/sec-sides-with-adf-denies-absurd-attempt-from-govt-contractor-ibm-to-hide-from-shareholders-on-dei-proposal/" target="_blank" rel="noopener">legal giants</a> like Alliance Defending Freedom to the courageous IBM employees willing to speak out about the bias behind the scenes. And it’s going to take all of those groups to be vigilant now — not paying attention to our boardrooms is what got us into the woke mess in the first place.
This is the next phase of rooting out bias and wokeness from corporate America — watching tirelessly to see whether companies that commit to ditching DEI are actually willing to put their messaging and money where their mouths are. Smart companies will be willing to commit to change. Foolish ones will hope to either avoid scrutiny altogether or reintroduce the same tired DEI policies under the guise of <a href="https://www.shrm.org/executive-network/insights/time-to-add-b-for-belonging-to-workplace-dei-strategy" target="_blank" rel="noopener">phrases</a> like “belonging.” It’s our job, as shareholders, as customers, and as Americans, to keep up the pressure for accountability with the leverage that we’ve been given. And above all, to make the case for what truly makes every company successful: the courage to resist activism and the fortitude to focus on business.
* * *
Isaac Willour is an award-winning journalist focusing on race, culture, and American conservatism, as well as a corporate relations analyst at Bowyer Research. His work has been featured at outlets including USA Today, The Wall Street Journal, The New York Times Opinion, C-SPAN, and The Daily Wire. He is a member of the Young Voices contributor program and can be found on X <a href="https://twitter.com/IsaacWillour" target="_blank" rel="noopener">@IsaacWillour</a>.
The views expressed in this piece are those of the author and do not necessarily represent those of The Daily Wire.

Traders On The Floor Of The New York Stock Exchange As Fed Chair Powell Holds New Conference

IBM Rolls Back DEI, Commits To Political Neutrality

Diversity

Dow Jones

GARM

Heritage Foundation

Human Rights Campaign

Opinion

Robby Starbuck

Woke Culture

Sen. Josh Hawley (R-MO) reintroduced the anti-corruption PELOSI Act on Friday, aiming to ban members of Congress from trading individual stocks, while President Trump signaled he would sign such legislation into law.
The legislation, whose acronym PELOSI stands for &#8220;Preventing Elected Leaders from Owning Securities and Investments,&#8221; and is named after former House Speaker Nancy Pelosi, whose husband has drawn <a href="https://finance.yahoo.com/news/deceptive-tactic-nancy-pelosi-disclosed-180000159.html">scrutiny</a> for millions in suspected insider trading.
&#8220;Members of Congress should be fighting for the people they were elected to serve — not day trading at the expense of their constituents,&#8221; Hawley <a href="https://www.hawley.senate.gov/hawley-reintroduces-pelosi-act-to-ban-congress-from-trading-stocks/">stated</a>, according to a press release from his office.
&#8220;Americans have seen politician after politician turn a profit using information not available to the general public,&#8221; the Missouri Republican added. &#8220;It&#8217;s time we ban all members of Congress from trading and holding stocks and restore Americans&#8217; trust in our nation&#8217;s legislative body.&#8221;
Under Hawley&#8217;s proposal, elected officials and their spouses would be barred from owning individual stocks while serving in Congress.
The legislation would still allow investment in broader financial instruments such as mutual funds, ETFs, and Treasury bonds.
The bill provides a six-month grace period for compliance after enactment. Any lawmaker refusing to divest would face financial penalties and surrender profits to the federal treasury.
The Government Accountability Office would be required to audit congressional compliance with the law within two years of enactment and submit a report to congressional ethics committees, according to the <a href="https://www.hawley.senate.gov/wp-content/uploads/2025/04/Hawley-PELOSI-Act.pdf">legislation</a>.
When asked on Friday by a reporter if he would support a ban on congressional stock trading, President Trump said he would “absolutely” sign such a bill.
&#8220;Well, I watched Nancy Pelosi get rich through insider information, and I would be okay with it. If they send that to me, I would do it,&#8221; the President said.
<blockquote class="twitter-tweet">
It is time! Pass my PELOSI Act now &#8211; no stock trading by members of Congress <a href="https://t.co/w1enBmv0BG">https://t.co/w1enBmv0BG</a>
— Josh Hawley (@HawleyMO) <a href="https://twitter.com/HawleyMO/status/1915759963386822771?ref_src=twsrc%5Etfw">April 25, 2025</a></blockquote>
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A 2022 New York Times investigation <a href="https://www.nytimes.com/interactive/2022/09/13/us/politics/congress-members-stock-trading-list.html">identified</a> at least 97 members of Congress who reported stock trades that potentially intersected with their committee work, raising questions about whether elected officials were using privileged information to enrich themselves.
The issue has <a href="https://publicconsultation.org/united-states/stock-trading-by-members-of-congress/">garnered</a> bipartisan support for reform, with polls consistently showing over 80% of Americans favor banning congressional stock trading.
Similar legislation has been introduced in previous sessions of Congress but failed to advance to a floor vote in either chamber despite widespread public support.

119th Congress Begins Its Term On Capitol Hill

Sen. Hawley Reintroduces PELOSI Act To Curb Congressional Stock Trading, Trump Signals Approval

Congress

Corruption

Insider Trading

Josh Hawley

Nancy Pelosi

Paul Pelosi

United States stocks opened on a high note on Monday after President Donald Trump temporarily exempted American tech giants from some of his new reciprocal tariffs, sending shares of Apple and Dell soaring while providing relief to a market that had been rocked by tariff uncertainty.
The three major indexes all rose compared to last week, with the Dow Jones Industrial Average adding 421 points (1%), the S&amp;P 500 rising 1.1%, and the Nasdaq Composite gaining 1%, according to CNBC.
At their midday peaks, the Dow was up more than 500 points, and the Nasdaq was up 2.5% during the volatile trading session.
Investors welcomed the exemption of smartphones, computers, and semiconductor components from Trump&#8217;s new &#8220;reciprocal&#8221; tariffs, based on U.S. Customs and Border Protection guidance issued late Friday.
Apple shares <a href="https://www.cnbc.com/2025/04/13/stock-market-today-live-updates.html">rose</a> 3% following the news at the opening bell, while Dell surged more than 4% as tech companies received immediate relief from the threatened tariffs.
&#8220;The market believes that the administration is probably in some sort of retreat from their most-extreme tariff proposal,&#8221; said Jed Ellerbroek, portfolio manager at Argent Capital Management. &#8220;That&#8217;s incremental good news.&#8221;
The market is coming off one of its most volatile trading weeks on record, with the CBOE Volatility Index <a href="https://www.cnbc.com/quotes/.VIX/">spiking</a> above 50 on Thursday,
&#8220;Smartphones, chips being excluded is a game changer scenario when it comes to China tariffs,&#8221; said Dan Ives, global head of technology research at Wedbush Securities. &#8220;I think ultimately Big Tech CEOs spoke loudly, and the White House had to understand and listen to the situation that this would have been Armageddon for big tech if were implemented.&#8221;
National Economic Council Director Kevin Hassett provided the market further assurances during a Fox Business interview, <a href="https://www.foxbusiness.com/media/trumps-trade-team-making-astonishing-progress-tariff-deals-multiple-offers-table-hassett">noting</a> that “more than 10” countries were already seeking “amazing” trade agreements to avoid the new levies.
Trump&#8217;s &#8220;Liberation Day&#8221; tariffs <a href="https://www.whitehouse.gov/fact-sheets/2025/04/fact-sheet-president-donald-j-trump-declares-national-emergency-to-increase-our-competitive-edge-protect-our-sovereignty-and-strengthen-our-national-and-economic-security/">aim</a> to, according to the White House, &#8220;strengthen the international economic position of the United States and protect American workers&#8221; and will remain in place until &#8220;President Trump determines that the threat posed by the trade deficit and underlying nonreciprocal treatment is satisfied, resolved, or mitigated.&#8221;
However, Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114332337028519855">clarified</a> on Truth Social that these &#8220;exempted&#8221; products remain &#8220;subject to the existing 20% Fentanyl Tariffs, and they are just moving to a different Tariff &#8216;bucket,'&#8221; suggesting the exemptions might not be permanent, and reigning in the optimism of some investors.
Despite the recent tech stock rally, many on Wall Street remain cautious about potential volatility in the coming weeks as further details of the administration&#8217;s trade policies emerge, particularly regarding permanent tariff structures and potential exemptions for other goods and sectors.

NYSE Opens Monday Morning After Volatile Week In The Markets

Dow Jumps 400+ Points After Trump Moves Smartphones, Computers To Different ‘Tariff Bucket’

Communist China

&#8220;The View&#8221; host Sunny Hostin claimed on Thursday that President Donald Trump&#8217;s comments on his Truth Social platform amounted to &#8220;insider trading&#8221; and were specifically coded to give a heads up to his billionaire friends.
Hostin argued that because Trump had recommended &#8220;buying&#8221; when the stock market dropped — amid turmoil over his &#8220;Liberation Day&#8221; tariffs — he had been signaling to billionaires that they should buy with the expectation that the market would shoot up again when he put them on hold.
&#8220;I gotta tell you, I think what&#8217;s fascinating to me is that the corruption is just completely out in the open at this point,&#8221; Hostin claimed. &#8220;You know, because these kinds of actions where Trump tweeted out before this li&#8217;l pause, he said, &#8216;This is a great time to buy.&#8217; And that&#8217;s really a whistle to those billionaires or people that have money that can buy low and then the stock market prices go up, that&#8217;s generally called insider trading and that would ordinarily trigger an investigation by the Securities and Exchange Commission.&#8221;
&#8220;We know now that that&#8217;s not probably going to happen because all of these government agencies have been, you know, destroyed and dismantled,&#8221; Hostin continued. &#8220;But someone with knowledge of an economic policy change that would cause the markets to shoot back up right before posting about how great a time it is to buy right before the policy change happened would certainly be guilty of insider trading in my view.&#8221;
WATCH:
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Ana Navarro disagrees that it was strategic insider trading only because, &quot; if they&#39;re saying that this was all strategic then he is a sadist because what kind of government leader puts his people through this kind of distress and sadness and anxiety for a week just for giggles.&#39;… <a href="https://t.co/9cDFtgBLfV">pic.twitter.com/9cDFtgBLfV</a>
&mdash; Nicholas Fondacaro (@NickFondacaro) <a href="https://twitter.com/NickFondacaro/status/1910366005466890502?ref_src=twsrc%5Etfw">April 10, 2025</a></blockquote>
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Co-host Ana Navarro pushed back slightly, saying, &#8220;If they&#8217;re saying that this was all strategic, then he is a sadist because what kind of government leader puts his people through this kind of distress and sadness and anxiety for a week just for — you know, just for giggles. His supporters always say that he plays fourth-dimensional chess, I think he should be in a padded room.&#8221;

WHOOPI GOLDBERG, SARA HAINES, JOY BEHAR, SUNNY HOSTIN, ALYSSA FARAH GRIFFIN

‘The View’ Host Claims Trump’s Truth Social Posts Are Coded ‘Insider Trading’ Tips

'The View' Host Claims Trump's Truth Social Posts Are Coded 'Insider Trading' Tips

Sunny Hostin

The View

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