Tracking Trump: Trump's DC police takeover; a judge blocks Epstein testimony release; chip companies cut a deal; and more
D.C.'s mayor called Trump's police takeover 'unsettling and unprecedented'
A federal judge blocked the release of Epstein case testimony.
The U.S. attorney for D.C. vowed to 'change the law' to arrest more people.
Chipmakers agreed to pay the U.S. 15 percent of Chinese AI sales revenue.
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Yahoo
8 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures climb as Wall Street digests July inflation report
US stock futures moved higher on Tuesday as Wall Street digested fresh inflation data and President Trump revealed his pick to head the Bureau of Labor Statistics. Futures attached to the Dow Jones Industrial Average (YM=F) rose 0.6%. Those tied to the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) were both up around 0.7%. The latest data from the Bureau of Labor Statistics showed that "core" inflation, which excludes volatile food and energy costs, rose 3.1% over the past year in July, ahead of June's 2.9% increase and indicating that rising goods inflation is no longer being offset by easing services inflation. But on a headline basis, the Consumer Price Index (CPI) increased 2.7% year-over-year, matching June and coming in softer than economist expectations of a 2.8% rise. The report was the first major piece of economic data to be released by the Bureau of Labor Statistics after Trump fired Erika McEntarfer as commissioner of the BLS earlier this month following the release of the July jobs report. Late Monday, Trump announced that he nominated E.J. Antoni, chief economist at the conservative Heritage Foundation, to lead the BLS. In corporate news, Intel (INTC) stock jumped more than 2% in premarket trading on Tuesday after CEO Lip-Bu Tan met with President Trump, who had called for Tan's resignation last week. After the meeting, Trump posted to Truth Social saying that he had met with Tan along with Secretary of Commerce Howard Lutnick and Secretary of the Treasury Scott Bessent. "The meeting was a very interesting one," the president wrote, adding, "His success and rise is an amazing story." On Tuesday, reports said China urged local firms not to use Nvidia H20 chips, complicating Trump's bid to turn those sales into a US windfall. Trump also granted another 90-day pause on the most punishing tariffs on China as the two countries work toward a trade deal. Read more: The latest on Trump's tariffs Investors will get two more pulse checks on the state of the economy later this week, with the release of the Producer Price Index on Thursday and retail sales data on Friday. "Core" price increases accelerate more than expected in July Price increases accelerated more than expected in July. The latest data from the Bureau of Labor Statistics showed that on a "core" basis, which strips out the more volatile costs of food and gas, consumer prices in increased 3.1% over the prior year in July, an increase from June's 2.9% and above economists' forecast for 3%. Core prices climbed 0.3% over the prior month, ahead of June's 0.2% increase but in line with expectations. The headline Consumer Price Index (CPI) showed prices increased 2.7% in July, unchanged from the month prior and below the 2.8% economists had expected. On a month-over-month basis, prices increased 0.2%, lower than the 0.3% seen the month prior. Circle stock jumps on first earnings report since going public Circle (CRCL) posted higher revenue and reserve income on Tuesday in its first quarterly report since its IPO in June, as circulation of its stablecoin USDC (USDC-USD) spread. Circle stock rose 6% in premarket trading on Tuesday. Its total gains since going public are now 133%. Reuters reports: Read more here. US small business optimism rebounds, but uncertainty clouds outlook Reuters reports: Read more here. Good morning. Here's what's happening today. Economic data: NFIB Small Business Optimism (July); Consumer Price Index (July); Real average hourly earnings (July) Earnings: Circle (CRCL), Pony AI (PONY), On Holding (ONON), CoreWeave (CRWV), Rigetti (RGTI), Cava (CAVA) Here are some of the biggest stories you may have missed overnight and early this morning: July inflation report expected to show prices accelerated Media musical chairs are reshaping the sports landscape Earnings live: Circle pops on higher revenue in first earnings report Intel stock rises after Trump praises CEO's 'amazing story' China urges firms to shun Nvidia chips, trade truce extended Musk accuses Apple of unfairly favoring OpenAI on iPhone Google and IBM believe workable quantum computer is in sight US small business optimism up but uncertainty clouds outlook Switzerland wants binding Trump commitment on gold tariffs Cannabis stocks soar as President Trump considers reclassifying marijuana Tilray (TLRY) stock rose another 10% in premarket trading on Tuesday after soaring 41% on Monday amid speculation that President Trump may move to reclassify marijuana as a less dangerous drug. The Canadian cannabis company traded hands at over $1 per share for the first time since February. Despite a 60% gain in the past month, however, shares are still off by 30% for the year. Other cannabis stocks saw a major lift as well. Trulieve (TCNNF) gained 38% on Monday, Curaleaf (CURLF) was up 35%, Green Thumb Industries (GTBIF) added 19%, Aurora (ACB) increased 16%, and Canopy Growth (CGC) surged 26%. On Friday, the Wall Street Journal reported that Trump told donors at a New Jersey fundraiser he was considering making marijuana a Schedule III drug, which would ease restrictions on the substance. Trump said he will make a final decision in the coming weeks. "We're looking at reclassification and we'll make a determination over the next — I would say over the next few weeks, and that determination hopefully will be the right one," Trump said. "It's a very complicated subject." Intel is still a disaster Intel (INTC) is rallying premarket as Trump walked back his apparent hate for the company's CEO, Lip-Bu Tan, after meeting on Monday. Don't be fooled by the price action, however. This isn't the case like Apple (AAPL), where CEO Tim Cook kisses Trump's butt and the company is exempt from various tariffs. Intel is a fundamental disaster right now. People in the industry I talk to are unsure if the company will ever come back to a state of health, given 1) how fast AI chip development is occurring, and 2) how far behind Nvidia and AMD Intel is. Intel's statement on the meeting: "Earlier today, Mr. Tan had the honor of meeting with President Trump for a candid and constructive discussion on Intel's commitment to strengthening U.S. technology and manufacturing leadership. We appreciate the President's strong leadership to advance these critical priorities and look forward to working closely with him and his Administration as we restore this great American company." Japan's Nikkei hits record high on tariff relief, tech rally The Nikkei 225 (^N225) hit a record high Tuesday as easing US tariff fears boosted optimism, led by tech stocks and tariff relief. Bloomberg News reports: Read more here. "Core" price increases accelerate more than expected in July Price increases accelerated more than expected in July. The latest data from the Bureau of Labor Statistics showed that on a "core" basis, which strips out the more volatile costs of food and gas, consumer prices in increased 3.1% over the prior year in July, an increase from June's 2.9% and above economists' forecast for 3%. Core prices climbed 0.3% over the prior month, ahead of June's 0.2% increase but in line with expectations. The headline Consumer Price Index (CPI) showed prices increased 2.7% in July, unchanged from the month prior and below the 2.8% economists had expected. On a month-over-month basis, prices increased 0.2%, lower than the 0.3% seen the month prior. Price increases accelerated more than expected in July. The latest data from the Bureau of Labor Statistics showed that on a "core" basis, which strips out the more volatile costs of food and gas, consumer prices in increased 3.1% over the prior year in July, an increase from June's 2.9% and above economists' forecast for 3%. Core prices climbed 0.3% over the prior month, ahead of June's 0.2% increase but in line with expectations. The headline Consumer Price Index (CPI) showed prices increased 2.7% in July, unchanged from the month prior and below the 2.8% economists had expected. On a month-over-month basis, prices increased 0.2%, lower than the 0.3% seen the month prior. Circle stock jumps on first earnings report since going public Circle (CRCL) posted higher revenue and reserve income on Tuesday in its first quarterly report since its IPO in June, as circulation of its stablecoin USDC (USDC-USD) spread. Circle stock rose 6% in premarket trading on Tuesday. Its total gains since going public are now 133%. Reuters reports: Read more here. Circle (CRCL) posted higher revenue and reserve income on Tuesday in its first quarterly report since its IPO in June, as circulation of its stablecoin USDC (USDC-USD) spread. Circle stock rose 6% in premarket trading on Tuesday. Its total gains since going public are now 133%. Reuters reports: Read more here. US small business optimism rebounds, but uncertainty clouds outlook Reuters reports: Read more here. Reuters reports: Read more here. Good morning. Here's what's happening today. Economic data: NFIB Small Business Optimism (July); Consumer Price Index (July); Real average hourly earnings (July) Earnings: Circle (CRCL), Pony AI (PONY), On Holding (ONON), CoreWeave (CRWV), Rigetti (RGTI), Cava (CAVA) Here are some of the biggest stories you may have missed overnight and early this morning: July inflation report expected to show prices accelerated Media musical chairs are reshaping the sports landscape Earnings live: Circle pops on higher revenue in first earnings report Intel stock rises after Trump praises CEO's 'amazing story' China urges firms to shun Nvidia chips, trade truce extended Musk accuses Apple of unfairly favoring OpenAI on iPhone Google and IBM believe workable quantum computer is in sight US small business optimism up but uncertainty clouds outlook Switzerland wants binding Trump commitment on gold tariffs Economic data: NFIB Small Business Optimism (July); Consumer Price Index (July); Real average hourly earnings (July) Earnings: Circle (CRCL), Pony AI (PONY), On Holding (ONON), CoreWeave (CRWV), Rigetti (RGTI), Cava (CAVA) Here are some of the biggest stories you may have missed overnight and early this morning: July inflation report expected to show prices accelerated Media musical chairs are reshaping the sports landscape Earnings live: Circle pops on higher revenue in first earnings report Intel stock rises after Trump praises CEO's 'amazing story' China urges firms to shun Nvidia chips, trade truce extended Musk accuses Apple of unfairly favoring OpenAI on iPhone Google and IBM believe workable quantum computer is in sight US small business optimism up but uncertainty clouds outlook Switzerland wants binding Trump commitment on gold tariffs Cannabis stocks soar as President Trump considers reclassifying marijuana Tilray (TLRY) stock rose another 10% in premarket trading on Tuesday after soaring 41% on Monday amid speculation that President Trump may move to reclassify marijuana as a less dangerous drug. The Canadian cannabis company traded hands at over $1 per share for the first time since February. Despite a 60% gain in the past month, however, shares are still off by 30% for the year. Other cannabis stocks saw a major lift as well. Trulieve (TCNNF) gained 38% on Monday, Curaleaf (CURLF) was up 35%, Green Thumb Industries (GTBIF) added 19%, Aurora (ACB) increased 16%, and Canopy Growth (CGC) surged 26%. On Friday, the Wall Street Journal reported that Trump told donors at a New Jersey fundraiser he was considering making marijuana a Schedule III drug, which would ease restrictions on the substance. Trump said he will make a final decision in the coming weeks. "We're looking at reclassification and we'll make a determination over the next — I would say over the next few weeks, and that determination hopefully will be the right one," Trump said. "It's a very complicated subject." Tilray (TLRY) stock rose another 10% in premarket trading on Tuesday after soaring 41% on Monday amid speculation that President Trump may move to reclassify marijuana as a less dangerous drug. The Canadian cannabis company traded hands at over $1 per share for the first time since February. Despite a 60% gain in the past month, however, shares are still off by 30% for the year. Other cannabis stocks saw a major lift as well. Trulieve (TCNNF) gained 38% on Monday, Curaleaf (CURLF) was up 35%, Green Thumb Industries (GTBIF) added 19%, Aurora (ACB) increased 16%, and Canopy Growth (CGC) surged 26%. On Friday, the Wall Street Journal reported that Trump told donors at a New Jersey fundraiser he was considering making marijuana a Schedule III drug, which would ease restrictions on the substance. Trump said he will make a final decision in the coming weeks. "We're looking at reclassification and we'll make a determination over the next — I would say over the next few weeks, and that determination hopefully will be the right one," Trump said. "It's a very complicated subject." Intel is still a disaster Intel (INTC) is rallying premarket as Trump walked back his apparent hate for the company's CEO, Lip-Bu Tan, after meeting on Monday. Don't be fooled by the price action, however. This isn't the case like Apple (AAPL), where CEO Tim Cook kisses Trump's butt and the company is exempt from various tariffs. Intel is a fundamental disaster right now. People in the industry I talk to are unsure if the company will ever come back to a state of health, given 1) how fast AI chip development is occurring, and 2) how far behind Nvidia and AMD Intel is. Intel's statement on the meeting: "Earlier today, Mr. Tan had the honor of meeting with President Trump for a candid and constructive discussion on Intel's commitment to strengthening U.S. technology and manufacturing leadership. We appreciate the President's strong leadership to advance these critical priorities and look forward to working closely with him and his Administration as we restore this great American company." Intel (INTC) is rallying premarket as Trump walked back his apparent hate for the company's CEO, Lip-Bu Tan, after meeting on Monday. Don't be fooled by the price action, however. This isn't the case like Apple (AAPL), where CEO Tim Cook kisses Trump's butt and the company is exempt from various tariffs. Intel is a fundamental disaster right now. People in the industry I talk to are unsure if the company will ever come back to a state of health, given 1) how fast AI chip development is occurring, and 2) how far behind Nvidia and AMD Intel is. Intel's statement on the meeting: "Earlier today, Mr. Tan had the honor of meeting with President Trump for a candid and constructive discussion on Intel's commitment to strengthening U.S. technology and manufacturing leadership. We appreciate the President's strong leadership to advance these critical priorities and look forward to working closely with him and his Administration as we restore this great American company." Japan's Nikkei hits record high on tariff relief, tech rally The Nikkei 225 (^N225) hit a record high Tuesday as easing US tariff fears boosted optimism, led by tech stocks and tariff relief. Bloomberg News reports: Read more here. The Nikkei 225 (^N225) hit a record high Tuesday as easing US tariff fears boosted optimism, led by tech stocks and tariff relief. Bloomberg News reports: Read more here. Sign in to access your portfolio
Yahoo
8 minutes ago
- Yahoo
US hitwoman in niqab disguise guilty of conspiracy to murder in Birmingham
A US citizen has been found guilty of conspiracy to murder in relation to a failed assassination plot in Birmingham in September 2019. Aimee Betro, 45, appeared in Birmingham Crown Court on Tuesday wearing a purple T-shirt and with her hair in space buns. She showed no obvious reaction and stared towards the jury bench as the verdicts were returned. She was found guilty by majority 11-verdicts on charges of conspiracy to murder and possessing a self-loading pistol with intent to cause fear of violence. She was found guilty by a unanimous verdict on a charge of illegally importing ammunition. Jurors deliberated for almost 21 hours before handing down the verdicts. Betro, who is originally from West Allis in Wisconsin but spent several years in Armenia before her arrest in January, will be sentenced on 21 August. Defence barrister Paul Lewis KC said he was not asking for pre-sentence reports as they would not assist the court. Judge Simon Drew KC told the court: 'I suspect Miss Betro would like to know the outcome of this case and there is nothing worse than sitting waiting.' Betro also showed no emotion as she was remanded in custody and led away to the cells. During the trial, prosecutors said Betro flew to Britain in August 2019 to take part in a plot orchestrated by co-conspirators Mohammed Aslam, 56, and his son Mohammed Nabil Nazir, 31, to attack another family as part of a 'violent' feud. The court heard the 45-year-old graduate hid her face using a niqab when she got out of a Mercedes and tried to shoot Sikander Ali at point-blank range outside his home in Measham Grove, Yardley. However, the handgun jammed, allowing Mr Ali to flee in his car.
Yahoo
8 minutes ago
- Yahoo
A mother and infant were killed in Pierce County wreck. Now driver is sentenced
A man who sped into oncoming traffic in Lakewood at upwards of 83 mph and drove his van over a sedan occupied by a family of four — killing a woman and her infant child — was sentenced Friday to about 12 years in prison. Shaun Duane Lakey, 34, was convicted in a jury trial in June of two counts of DUI vehicular homicide and DUI vehicular assault for the Sept. 22, 2023 collision at the intersection of Lakewood Drive and 74th Street West. Maria Luisa Huecias, 29, and Liam Joel Morales Huecias, 1, were killed as a result of the wreck. The woman's husband, Christian Morales Tirado, and his 7-year-old daughter were injured. Lakey had cannabis in his system, according to Pierce County Superior Court records, and he made nonsensical comments to emergency responders at the scene about being a monk and reaching nirvana. A witness also reported seeing him laugh and giggle while the driver of the vehicle he struck tried to help his wife. Prosecutors wrote in court filings that Lakey was on the phone with a woman he referred to as his girlfriend when he was driving, and he told police he felt his vehicle drifting toward a car, but he just closed his eyes and let 'it take its course.' The woman later told Lakewood police Lakey made odd comments on the phone, and she thought he was having a psychotic break or high on something and experiencing 'a terrible acid trip.' Lakey told police he'd used LSD in the past, but blood testing did not detect the drug in his system, only marijuana. A toxicology report showed that a little more than two hours after the wreck Lakey had 2.4 nanograms per milliliter of THC in his system, which is the psychoactive component of marijuana. The legal limit for motorists is 5 nanograms per milliliter. The collision occurred just before 10 p.m. as the family of four was returning home from Mary Bridge Children's Hospital, according to prosecutors, where the family had gone to get help for Liam, who was sick with a fever. Lakey was southbound on Lakewood Drive, and witnesses reported that the light was red at 74th Street when he swerved through the intersection into the opposite lanes of travel and struck the family's Honda sedan. Police later calculated that he was going between 83 and 98 mph. The Honda's roof caved in and was pried off as Lakey drove over it. The van went onto its side, slid more than 400 feet and caught fire. Prosecutors said dozens of strangers went to the two vehicles to help. Lakey was taken to a hospital for an injury to his arm and was booked into jail early the next morning. According to prosecutors, Lakey claimed in phone calls he made from jail that his vehicle's exhaust and brake lines had been tampered with, but a forensic mechanic who evaluated the van found no such issues that caused the collision. 'Defendant Lakey ignored the wellbeing of everyone else on the roadway and chose to drive while actively hallucinating from the drugs he had taken,' deputy prosecuting attorney Miriam Norman wrote in a sentencing memorandum. Judge Sabrina Ahrens sentenced Lakey, giving him a high-end sentence at the recommendation of prosecutors. Lakey had no prior felony convictions. In other news out of Superior Court Teen pleads guilty to manslaughter in fatal shooting of Tacoma boy A teenager pleaded guilty Friday for his part in the death of a 15-year-old Tacoma boy who was shot during a gun transaction that led to a fatal 'tug-of-war' over the firearm. Ziair Armani-Lee Gilbert, 17, pleaded guilty to first-degree manslaughter for the Sept. 14, 2024 homicide of Moses Tillman in the city's Eastside neighborhood. A second person charged in the shooting, a 16-year-old boy, pleaded guilty Aug. 1 in Juvenile Court to second-degree manslaughter with a firearm sentencing enhancement and second-degree unlawful possession of a firearm. Gilbert and the 16-year-old were originally charged with first- and second-degree murder, which meant they would automatically be prosecuted as adults due to their ages and the seriousness of those charges. The News Tribune generally only names juveniles in connection to a crime if they are charged as an adult. The 16-year-old's case was moved to Juvenile Court when his charges were amended. A sentencing hearing for both defendants was set for Aug. 22. It's unclear who fired the fatal shots. A spokesperson for the Prosecuting Attorney's Office said numerous shell casings were found at the scene, and they can't say with certainty who fired which shots. According to court records, Tacoma Police Department detectives learned through Instagram messages sent between Tillman and one of the defendants that Tillman and his cousin were meeting up with the two to buy a gun. In an interview with detectives, the cousin told police Tillman was going to trade a gun and $300 for another firearm. The cousin reportedly said one of the suspects grabbed the gun from under Tillman's arm and took it, which led to a 'tug-of-war' situation before Tillman was shot. Detectives obtained search warrants for the 16-year-old's Facebook and Instagram accounts, which showed that Gilbert posted 90 minutes after the homicide about a firearm he'd obtained, which detectives noted was a 9 mm handgun. DNA taken from expended 9 mm shell casings found at the scene were also linked to two people, including Gilbert as a 'possible association.' Final defendant sentenced for murder, robbery of woman at Puyallup park The last of three young men convicted in the fatal shooting of a 22-year-old woman in Puyallup during an apparently random robbery attempt was sentenced Friday to 17-and-a-half years in state custody. Dae'Meion Carmello Purdy, 19, pleaded guilty in July to second-degree murder and second-degree assault for the Feb. 25, 2024 killing of Gianna Stone. Purdy and Noah Loyd-Branch were driven to Sam Peach Park by Ethan Nordgren. Purdy was 17 at the time, and Loyd-Branch and Nordgren were 18. According to charging documents, Stone was with other people at the park in a BMW when the defendants approached the vehicle and pulled out handguns. They demanded the group's property, and Purdy and Loyd-Branch fired shots while the driver drove off. One bullet went through the back of the BMW and struck Stone in the head. Loyd-Branch and Nordgren were sentenced in May to about nine years and seven years, respectively, in state custody. Both pleaded guilty to first-degree manslaughter, and Loyd-Branch additionally pleaded guilty to second-degree unlawful possession of a firearm. Purdy will begin serving his sentence in juvenile rehabilitation in the custody of the Department of Children, Youth and Families until age 25 when he would transfer to the Department of Corrections.
