Live updates: The latest on Trump's federal crackdown on Washington, DC
Date: 11 min ago
Title: Trump vows to "change no cash bail"
Content:
President Donald Trump said that his administration is going to change the statues relating to cash bail in cities like New York City, Chicago and Washington, DC.
'This dire public safety crisis stems directly from the abject failures of the city's local leadership. The 'radical left' city council adopted no cash bail. By the way, every place in the country where you have no cash bail is a disaster. That's what started the problem,' Trump claimed at a news conference.
DC largely removed cash bail in 1992.
Referencing New York and Chicago, Trump said they would 'change the statue' regarding cash bail systems with the help of Congress.
'We're going to end that in Chicago,' Trump said. 'We're going to change the statute, and I'm going to have to get the Republicans to vote, because the Democrats are weak on crime.'
'But we're going to change no cash bail. We're going to change the statute and get rid of some of the other things, and we'll count on the Republicans in Congress and Senate to vote,' Trump added.
Update:
Date: 6 min ago
Title: Trump says it's "embarrassing" he's addressing DC crime ahead of Putin meeting
Content:
President Donald Trump said he's embarrassed that he has to address crime in Washington, DC, ahead of his meeting with Russian President Vladimir Putin on Friday.
'It's embarrassing for me to be up here. You know I'm going to see Putin,' Trump told reporters at the White House this morning, adding that, 'I don't like being up here talking about how unsafe and how dirty and disgusting this once beautiful capital was.'
US officials are rushing to finalize the details of a summit between Trump and Putin in Alaska on Friday.
It was Trump's decision to call Monday's event to talk about crime in DC, where so far this year, overall crime numbers are lower than last year's, according to a preliminary year-to-date crime comparison from DC's Metropolitan Police Department.
Update:
Date: 16 min ago
Title: Trump names DEA administrator as interim federal commissioner of DC Metropolitan Police Department
Content:
President Donald Trump said he is designating Drug Enforcement Administration Administrator Terry Cole as interim federal commissioner of the DC Metropolitan Police Department.
Trump said that Cole is one of the 'top in the country' and told him to run the department 'tough.'
Update:
Date: 11 min ago
Title: Here's how Trump can take control of the DC Metropolitan Police Department
Content:
President Donald Trump on Monday announced the federal government would take control of the DC Metropolitan Police Department to address crime.
The Home Rule Act of 1973 allows the president to take control of the city's police for 48 hours if he 'determines that special conditions of an emergency nature exist,' which requires the department's use for federal purposes. Trump said Monday he was declaring a public safety emergency.
Before Monday, there had never been a federal takeover of DC police under the Home Rule Act.
The president can retain control of the department for a longer period if he notifies the chairs and ranking members of the congressional committees that handle legislative matters pertaining to DC. It is not clear whether the president has taken that step.
Any request of control over the city's police department for over 30 days must be passed into law.
Update:
Date: 2 min ago
Title: Trump announces he is placing DC Metropolitan Police under federal control and deploying National Guard to city
Content:
President Donald Trump announced Monday that he is placing the DC Metropolitan Police Department under federal control and deploying the National Guard to the city, saying the move is aimed at restoring order in the nation's capital.
'I'm officially invoking section 740 of the District of Columbia Home Rule Act, you know what that is, and placing the DC Metropolitan Police Department under direct federal control,' Trump said during a White House news conference.
The president told a crowd of reporters that his actions come as 'something's out of control, but we're going to put it in control very quickly, like we did on the southern border.'
Trump also announced the deployment of National Guard troops to assist local law enforcement.
'I'm deploying the National Guard to help reestablish law, order and public safety in Washington, DC, and they're going to be allowed to do their job properly,' Trump added.
The Home Rule Act of 1973 allows the president to take control of the city's police for 48 hours if he 'determines that special conditions of an emergency nature exist,' which requires the department's use for federal purposes. The president can retain control of the department for a longer period if he notifies the chairs and ranking members of the congressional committees that handle legislative matters pertaining to DC. Any request of control over the city's police department for over 30 days must be passed into law.
The president indicated he intends to extend the federal takeover beyond the initial 48-hour window and will formally notify the relevant parties.
'I'll be making the appropriate notifications to Congress and to the mayor,' Trump said.
'We will have full, seamless, integrated cooperation at all levels of law enforcement, and will deploy officers across the district with an overwhelming presence,' he added.
Officers, Trump said, will have authority to do 'whatever the hell they want,' he said, adding this will go beyond the country's capital. 'We're not going to lose our cities over this, and this will go further.'
Flanked by top administration officials, Trump also vowed to take aggressive action to address homelessness and blight in the capital. 'We have slums here. We're getting rid of them. I know it's not politically correct,' Trump said.
This post has been updated with additional information.
Update:
Date: 1 hr 5 min ago
Title: Trump expected to announce mobilization of hundreds of National Guard troops in DC, sources say
Content:
President Donald Trump is expected to announce the activation of hundreds of DC National Guard troops this morning as part of his effort to address crime in the nation's capital, two US officials told CNN.
The DC National Guard forces are expected to be providing safety and security support to law enforcement, though one of the officials said many of the operational specifics still remain unclear, such as where they will be placed throughout the city, what their command-and-control chain will be, and for how long they will be activated.
Secretary of the Army Dan Driscoll and Defense Secretary Pete Hegseth are expected to be at the announcement with Trump.
The official said up to roughly 800 troops in the DC National Guard are expected to be activated. Among the subordinate units of the DC Guard is a military police battalion, complete with maintenance and medical support, and an aviation support battalion.
While National Guard units around the country report to their state's governors, the DC National Guard falls under the authority of the president, which is typically delegated to the secretary of the Army.
Update:
Date: 1 hr 5 min ago
Title: Trump says DC will be "LIBERATED," but what can the president do?
Content:
President Donald Trump says he will announce a plan Monday morning to make Washington, DC, 'GREAT AGAIN!' and 'stop violent crime' in the nation's capital.
As president, Trump has broad authority over parts of the city's affairs, including aspects of law enforcement. But he will need approval from Congress to exert control over DC in the way he says he wants to.
There are dozens of federal law enforcement agencies in the city that answer to the Trump administration, and the president has already ordered a surge of hundreds of federal officers supplement the city's police department in some neighborhoods.
Those include plans for scores of FBI agents to patrol the city's streets. Trump also has the authority as president to deploy the DC National Guard.
DC is managed under Home Rule, a 1973 law that gave Congress oversight and authority over the capital city but allowed district residents to have some control over how it is run.
This law would need to be overturned if Trump wants to completely federalize the district, but such a move is unlikely to happen under today's closely divided Congress. Trump has said he wants his administration to look into turning over Home Rule.
Still, the law does allow the president to temporarily take over the city's police department.
'Washington, D.C. will be LIBERATED today!' he said Monday morning on Truth Social.
Update:
Date: 2 hr 13 min ago
Title: Officials are rushing to finalize details ahead of the Trump-Putin summit in Alaska
Content:
US officials are rushing to finalize details ahead of Friday's summit between Presidents Donald Trump and Vladimir Putin in Alaska, with both logistical and geopolitical issues still unsettled four days ahead of the momentous sit-down.
As of Monday, no venue for the summit had been announced. Administration officials were still making their way to Alaska — selected for its centrality to Washington and Moscow — to scope out where, exactly, the US and Russian presidents would meet.
Officials were also working to clarify the contours of the two men's expected discussion, which Trump hopes can yield significant progress toward ending the war in Ukraine.
And a number of questions hang over the preparations. Among them: whether Ukrainian President Volodymyr Zelensky would be invited.
Ukrainian officials made clear Zelensky was prepared to travel to Alaska if invited by Trump. But they also acknowledged much would hinge on how the Trump-Putin meeting unfolds.
Update:
Date: 2 hr 39 min ago
Title: Trump declares "Liberation Day" in DC ahead of White House news conference on city safety
Content:
President Donald Trump declared 'Liberation Day' in Washington, DC, in a social media post this morning ahead of a White House news conference.
'LIBERATION DAY IN D.C. WE ARE TAKING OUR CAPITAL BACK!!!' Trump wrote in a Truth Social post.
Trump is expected to speak this morning on safety in the nation's capital, though he has yet to provide specific details. It comes despite a preliminary year-to-date comparison from DC Police showing that 2025 crime numbers in the city are lower than last year's.
Trump has threatened to assert federal control over the capital city, following an assault last week on a well-known employee of the Department of Government Efficiency.
The president claimed the country's capital 'will be liberated today' in a follow-up social media post on Monday.
'Washington, D.C. will be LIBERATED today! Crime, Savagery, Filth, and Scum will DISAPPEAR. I will, MAKE OUR CAPITAL GREAT AGAIN! The days of ruthlessly killing, or hurting, innocent people, are OVER! I quickly fixed the Border (ZERO ILLEGALS in last 3 months!), D.C. is next!!!' Trump wrote.
Update:
Date: 2 hr 15 min ago
Title: Trump will hold a news conference addressing his DC crime crackdown today
Content:
President Donald Trump has called a news conference at the White House today to address his federal crackdown on Washington, DC.
In a series of posts on social media over the weekend, Trump claimed his announcement — scheduled for 10 a.m. ET in the press briefing room — will 'essentially stop violent crime' in the nation's capital.
He also said he will announce 'Beautification' and 'Cleanliness' efforts, which would apparently involve removing homeless people from the city.
'The Homeless have to move out, IMMEDIATELY. We will give you places to stay, but FAR from the Capital,' Trump wrote on Truth Social yesterday. 'The Criminals, you don't have to move out. We're going to put you in jail where you belong. It's all going to happen very fast, just like the Border.'
The post included pictures of tents and trash throughout the city.
The president said DC Mayor Muriel Bowser is 'a good person who has tried,' but claimed the city 'only gets dirtier and less attractive.'
We'll be covering the press conference as it happens today. Stay with us for the latest.
Some context: The Trump administration ordered an increase of federal law enforcement in the US capital last week, deploying officials from different agencies in a push to crack down on crime.
In announcing the increase, the White House pointed to several high-profile crimes in DC, including the killing of two Israeli Embassy staff members in May.
But according to a preliminary year-to-date crime comparison from DC Police, 2025 crime numbers are lower than last year's.
Update:
Date: 2 hr 2 min ago
Title: Plans call for FBI agents to patrol with local police in DC
Content:
The federal government's plans for a surge of law enforcement in Washington calls for up to 130 FBI agents to patrol with officers from the city-run DC Metropolitan Police Department, according to one person familiar.
President Donald Trump launched the initiative last week with a White House official saying Saturday up to 450 federal law enforcement officers are expected participate.
It's not typical for FBI agents to patrol with local police departments. The Washington Post first reported on the use of FBI agents.
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In the second quarter, reported earnings of $0.03 per share and revenue of $299 million. While revenue beat analyst expectations of $293 million, GAAP profits fell short, as Wall Street was looking for $0.20 per share, per S&P Global Market Intelligence. Investors have been looking for signs that economic uncertainty is pushing companies to pull back their spending on technology and software. The company's operating loss fell to $11.6 million from $1.8 million a year ago, and the operating margin fell to negative 4% from 1% last year. Read more live coverage of corporate earnings here US gold futures fall as traders await clarification on tariffs US gold futures (GC=F) in New York fell 2% as traders waited for the White House to clarify its tariff policy. Last week, the US Customs and Border agency surprised the market by ruling that 100oz and 1kg gold bars would face tariffs. Bloomberg News reports: Read more here. Target still in the bear camp Good WSJ story this morning on Target (TGT) and its many challenges, one of them finding its next CEO. I wrote more on this a couple months ago. I would expect an abysmal quarter (another one) from Target when it reports second quarter earnings on August 20. The company is not only dealing with operational challenges, but it has totally lost the value perception battle with Walmart. I don't see these dynamics changing this year, and maybe not until deep into 2026 provided an outside CEO is brought in to run a full assessment of the business. Bitcoin near a fresh record Bitcoin looks to be breaking out of its recent trading range, nearing a fresh record this morning. There doesn't appear to be a clear catalyst for the pop today, though this Sunday X post from bitcoin evangelist Michael Saylor may have stoked the bulls. It suggests he will continue to be a buyer of bitcoin — perhaps no surprise, but the crypto market likes to be coddled. "If you don't stop buying Bitcoin, you won't stop making Money," Saylor wrote. crashing Shares of (AI) are getting crushed pre-market to the tune of 30%. And the rout is 100% deserved. Late Friday the company said it sees preliminary first fiscal quarter revenue of $70.2 million to $70.4 million, about 33% below the mid-point of its prior guidance for $100 million to $109 million. Sales would be down 19% from the prior year. The adjusted operating loss will be $57.7 million to $59.9 million, roughly twice the $23.5 million to $33.5 million loss that it had expected. I don't think there is anything to read into the AI trade here — this seems very company-specific, and tied to a sales reorg. Why the Nvidia, AMD revenue-sharing pact with the White House is ripe for a legal challenge Yahoo Finance's Alexis Keenan reports: Read more here. Yahoo Finance's Alexis Keenan reports: Read more here. Trump reportedly signs order granting another 90-day extension on harshest China tariffs US stocks were little changed following reports that President Trump granted China another 90-day tariff deadline extension on Monday. The S&P 500 (^GSPC) and tech-heavy Nasdaq Composite (^IXIC) slipped 0.1% lower, while the Dow Jones Industrial Average (^DJI) led the modest declines, falling 0.4% Yahoo Finance's Ben Werschkul reports: Read more here. US stocks were little changed following reports that President Trump granted China another 90-day tariff deadline extension on Monday. The S&P 500 (^GSPC) and tech-heavy Nasdaq Composite (^IXIC) slipped 0.1% lower, while the Dow Jones Industrial Average (^DJI) led the modest declines, falling 0.4% Yahoo Finance's Ben Werschkul reports: Read more here. July CPI report expected to show inflation accelerated amid tariff pressures Yahoo Finance's Allie Canal reports: Read more here. Yahoo Finance's Allie Canal reports: Read more here. Gold at session lows as Trump says precious metal will be not be tariffed Gold (GC=F) futures traded near session lows on Monday afternoon after President Trump said imports of the precious metal will not be tariffed. "Gold will not be Tariffed!" said a statement posted on social media. The precious metal declined more than 2% to trade near $3,404 per ounce. Last Friday gold futures touched intraday record highs amid reports that imports of Swiss gold bars would not be exempt from tariffs. Later in the session the metal trimmed gains after the White House indicated it would clarify "misinformation about the tariffing of gold bars and other specialty products." Gold (GC=F) futures traded near session lows on Monday afternoon after President Trump said imports of the precious metal will not be tariffed. "Gold will not be Tariffed!" said a statement posted on social media. The precious metal declined more than 2% to trade near $3,404 per ounce. Last Friday gold futures touched intraday record highs amid reports that imports of Swiss gold bars would not be exempt from tariffs. Later in the session the metal trimmed gains after the White House indicated it would clarify "misinformation about the tariffing of gold bars and other specialty products." stock falls 23% after lowering revenue guidance Inc. (AI) stock tumbled as much as 30% on Monday morning after the software company reported a steep sales miss and as its founder's health issues are spurring a search for a successor. Shares were down 23% in afternoon trading. The company released preliminary results late Friday showing revenue well below analysts' estimates as it undergoes a reorganization of its sales operation. Guidance for the fiscal first quarter also came in lighter than expected. Bloomberg reported that CEO Tom Siebel attributed what he called "completely unacceptable" results to recent health issues that prevented him from actively helping to sell the company's software. Several weeks ago, he said the company would begin to search for a successor. As Yahoo Finance's Brian Sozzi noted today, problems appear to be company-specific — not an indicator of the overall AI trade. "But I think now is probably the time to pivot away from some of the pure plays and go to more of bank shots on AI, and names like that would be in the industrials that, you know, aren't even tech stocks, but are benefiting from all of the infrastructure spending," John Campbell of Allsprings Global Investments said on Opening Bid. Read more here. Inc. (AI) stock tumbled as much as 30% on Monday morning after the software company reported a steep sales miss and as its founder's health issues are spurring a search for a successor. Shares were down 23% in afternoon trading. The company released preliminary results late Friday showing revenue well below analysts' estimates as it undergoes a reorganization of its sales operation. Guidance for the fiscal first quarter also came in lighter than expected. Bloomberg reported that CEO Tom Siebel attributed what he called "completely unacceptable" results to recent health issues that prevented him from actively helping to sell the company's software. Several weeks ago, he said the company would begin to search for a successor. As Yahoo Finance's Brian Sozzi noted today, problems appear to be company-specific — not an indicator of the overall AI trade. "But I think now is probably the time to pivot away from some of the pure plays and go to more of bank shots on AI, and names like that would be in the industrials that, you know, aren't even tech stocks, but are benefiting from all of the infrastructure spending," John Campbell of Allsprings Global Investments said on Opening Bid. Read more here. Bitcoin surges above $120,000, ethereum rises as investors pile into crypto Bitcoin (BTC-USD) surged on Monday to trade near record highs as investor enthusiasm and momentum around crypto grew. The digital token reached $122,000 on Monday before easing to around $120,000. The gains come as inflows into exchange-traded funds (ETFs) have grown and public companies have been adding bitcoin to their balance sheets. Bitcoin wasn't the only cryptocurrency getting a bid; ethereum (ETH-USD) touched 2021 levels on Monday. The second-largest cryptocurrency by market cap has surged roughly 190% since the April market lows. Companies have been adding ethereum to their balance sheets as a way to gain exposure to the tech infrastructure behind decentralized finance and digital assets, such as stablecoins. The move higher in crypto also comes as stocks hover near record highs on expectations that the Federal Reserve will cut rates in September and President Trump's next Fed chair pick will likely bring looser monetary policy. Bitcoin (BTC-USD) surged on Monday to trade near record highs as investor enthusiasm and momentum around crypto grew. The digital token reached $122,000 on Monday before easing to around $120,000. The gains come as inflows into exchange-traded funds (ETFs) have grown and public companies have been adding bitcoin to their balance sheets. Bitcoin wasn't the only cryptocurrency getting a bid; ethereum (ETH-USD) touched 2021 levels on Monday. The second-largest cryptocurrency by market cap has surged roughly 190% since the April market lows. Companies have been adding ethereum to their balance sheets as a way to gain exposure to the tech infrastructure behind decentralized finance and digital assets, such as stablecoins. The move higher in crypto also comes as stocks hover near record highs on expectations that the Federal Reserve will cut rates in September and President Trump's next Fed chair pick will likely bring looser monetary policy. Intel stock jumps with CEO Lip-Bu Tan reportedly set to meet with President Trump Intel (INTC) stock jumped more than 4% ahead of CEO Lip-Bu Tan's reported visit to the White House after President Trump called for his resignation. Citing unnamed sources, the Wall Street Journal reported over the weekend that Tan is set to meet with Trump Monday to explain his personal and professional background and to propose ways that Intel and the government can collaborate. Intel did not immediately respond to Yahoo Finance's questions regarding the reported meeting. Read the full story here. Intel (INTC) stock jumped more than 4% ahead of CEO Lip-Bu Tan's reported visit to the White House after President Trump called for his resignation. Citing unnamed sources, the Wall Street Journal reported over the weekend that Tan is set to meet with Trump Monday to explain his personal and professional background and to propose ways that Intel and the government can collaborate. Intel did not immediately respond to Yahoo Finance's questions regarding the reported meeting. Read the full story here. Tesla stock rises as EV maker applies for electricity supply license in UK Tesla (TSLA) stock surged 3% on Monday after the EV maker applied for a license to provide electricity to UK households and businesses. Apart from making electric vehicles and robotaxis, Tesla also provides Megapack batteries. The company's energy business grew 30% year over year last quarter, accounting for its largest margins. If the electricity supply license application submitted to the UK energy regulator Ofgem is approved, Tesla would be allowed to compete with other energy firms in the region. Tesla (TSLA) stock surged 3% on Monday after the EV maker applied for a license to provide electricity to UK households and businesses. Apart from making electric vehicles and robotaxis, Tesla also provides Megapack batteries. The company's energy business grew 30% year over year last quarter, accounting for its largest margins. If the electricity supply license application submitted to the UK energy regulator Ofgem is approved, Tesla would be allowed to compete with other energy firms in the region. Micron jumps after memory chipmaker raises Q4 financial guidance Memory chipmaker Micron (MU) — which supplies its semiconductors to Nvidia (NVDA) to use in its products — saw its stock jump more than 4% Monday after raising its financial outlook for its fourth quarter, which ends Aug. 28. The company said it expects to see adjusted revenue of $11.1 billion to $11.3 billion, up from its prior projected range of $10.4 billion to $11 billion. Micron expects to report quarterly adjusted earnings per share of $2.78 to $2.92, more than its previous range of $2.35 to $2.65. "This revised guidance reflects improved pricing, particularly in DRAM, and strong execution," the company said in a statement. Micron's DRAM chips are one type of memory chip used in devices like personal computers and smartphones. Memory chipmaker Micron (MU) — which supplies its semiconductors to Nvidia (NVDA) to use in its products — saw its stock jump more than 4% Monday after raising its financial outlook for its fourth quarter, which ends Aug. 28. The company said it expects to see adjusted revenue of $11.1 billion to $11.3 billion, up from its prior projected range of $10.4 billion to $11 billion. Micron expects to report quarterly adjusted earnings per share of $2.78 to $2.92, more than its previous range of $2.35 to $2.65. "This revised guidance reflects improved pricing, particularly in DRAM, and strong execution," the company said in a statement. Micron's DRAM chips are one type of memory chip used in devices like personal computers and smartphones. Stocks steady at the open US stocks were steady at the open on Monday after the Nasdaq Composite (^IXIC) notched two consecutive records last week. The Dow Jones Industrial Average (^DJI) rose nearly 0.1%. The S&P 500 (^GSPC) and the tech-heavy Nasdaq (^IXIC) hovered above the flat line. Chip stocks were in focus Monday after Nvidia (NVDA) and AMD (AMD) reportedly inked deals with the US government to sell their chips to China in exchange for sharing 15% of their revenues from the country. Nvidia shares fell less than 1% on Monday, while AMD shares lost over 1.5%. Looking ahead this week, investors are awaiting a key inflation reading and the upcoming summit between President Trump and Russian President Putin. US stocks were steady at the open on Monday after the Nasdaq Composite (^IXIC) notched two consecutive records last week. The Dow Jones Industrial Average (^DJI) rose nearly 0.1%. The S&P 500 (^GSPC) and the tech-heavy Nasdaq (^IXIC) hovered above the flat line. Chip stocks were in focus Monday after Nvidia (NVDA) and AMD (AMD) reportedly inked deals with the US government to sell their chips to China in exchange for sharing 15% of their revenues from the country. Nvidia shares fell less than 1% on Monday, while AMD shares lost over 1.5%. Looking ahead this week, investors are awaiting a key inflation reading and the upcoming summit between President Trump and Russian President Putin. Paramount seals $7.7 billion exclusive US rights deal with UFC Paramount has agreed to a seven-year, $7.7 billion deal to become the exclusive US broadcaster of the Ultimate Fighting Championship (UFC). The agreement is Paramount's largest since David Ellison took over as chair and CEO last week, following the completion of Skydance's takeover of the company. Under the contract, Paramount will stream all 13 of UFC's marquee events and 30 Fight Nights annually on its streaming platform from 2026, with selected events also broadcast on CBS, the Financial Times reported. The FT reports: Read more here (subscription required). Paramount has agreed to a seven-year, $7.7 billion deal to become the exclusive US broadcaster of the Ultimate Fighting Championship (UFC). The agreement is Paramount's largest since David Ellison took over as chair and CEO last week, following the completion of Skydance's takeover of the company. Under the contract, Paramount will stream all 13 of UFC's marquee events and 30 Fight Nights annually on its streaming platform from 2026, with selected events also broadcast on CBS, the Financial Times reported. The FT reports: Read more here (subscription required). AMC tops revenue estimates as blockbuster titles boost theater attendance AMC (AMC) stock jumped 8% in premarket trading after the movie theater chain reported attendance in the second quarter grew nearly 26% as blockbusters drew in moviegoers. Reuters reports: Read more here. AMC (AMC) stock jumped 8% in premarket trading after the movie theater chain reported attendance in the second quarter grew nearly 26% as blockbusters drew in moviegoers. Reuters reports: Read more here. Nvidia, AMD stocks decline after chipmakers agree to pay US 15% cut of China chip sales Shares of Nvidia (NVDA) and AMD (AMD) fell on Monday after the two companies agreed to pay the US government 15% of the revenue for certain chip sales to China. Nvidia stock was off by 0.4% premarket, while AMD stock dropped 1.4% as investors digested the unusual deal in which the chipmakers will essentially pay for export licenses. While the details are still being worked out, the chips in question reportedly include Nvidia's H20 AI chip and AMD's MI308 chips, which previously faced export controls from the Trump administration. Nvidia CEO Jensen Huang made the deal at the White House last Wednesday, the same day Apple (AAPL) agreed to increase its US investment to $600 billion, ostensibly to help the company avoid tariffs, as the Trump administration looks to monetize trade policy. An Nvidia spokesperson told Yahoo Finance: 'We follow rules the U.S. government sets for our participation in worldwide markets. While we haven't shipped H20 to China for months, we hope export control rules will let America compete in China and worldwide. America cannot repeat 5G and lose telecommunication leadership. America's AI tech stack can be the world's standard if we race." As for other chip stocks, Intel (INTC) and Qualcomm (QCOM) shares rose, while Taiwan Semiconductor (TSM) fell modestly. Read more here. Shares of Nvidia (NVDA) and AMD (AMD) fell on Monday after the two companies agreed to pay the US government 15% of the revenue for certain chip sales to China. Nvidia stock was off by 0.4% premarket, while AMD stock dropped 1.4% as investors digested the unusual deal in which the chipmakers will essentially pay for export licenses. While the details are still being worked out, the chips in question reportedly include Nvidia's H20 AI chip and AMD's MI308 chips, which previously faced export controls from the Trump administration. Nvidia CEO Jensen Huang made the deal at the White House last Wednesday, the same day Apple (AAPL) agreed to increase its US investment to $600 billion, ostensibly to help the company avoid tariffs, as the Trump administration looks to monetize trade policy. An Nvidia spokesperson told Yahoo Finance: 'We follow rules the U.S. government sets for our participation in worldwide markets. While we haven't shipped H20 to China for months, we hope export control rules will let America compete in China and worldwide. America cannot repeat 5G and lose telecommunication leadership. America's AI tech stack can be the world's standard if we race." As for other chip stocks, Intel (INTC) and Qualcomm (QCOM) shares rose, while Taiwan Semiconductor (TSM) fell modestly. Read more here. Good morning. Here's what's happening today. Earnings: (BBAI), (MNDY), Oklo (OKLO), Plug Power (PLUG) Economic calendar: No notable releases. Here are some of the biggest stories you may have missed overnight and early this morning: Nvidia, AMD revenue deal brings 'monetization of US trade policy' Yahoo Finance poll: Americans face new, complex financial challenges Earnings live: stock tanks, AMC to report Debate over Fed rate cuts heats up: What to watch this week Fed's Bowman makes case for 3 interest rate cuts in 2025 Intel CEO to visit White House on Monday Citi strategists raise S&P 500 target on resilient earnings Bitcoin Nears Record as Treasury Investors Boost Crypto Market BofA poll shows record number of investors say stocks overvalued Lithium market soars as CATL shuts one of world's biggest mines Earnings: (BBAI), (MNDY), Oklo (OKLO), Plug Power (PLUG) Economic calendar: No notable releases. Here are some of the biggest stories you may have missed overnight and early this morning: Nvidia, AMD revenue deal brings 'monetization of US trade policy' Yahoo Finance poll: Americans face new, complex financial challenges Earnings live: stock tanks, AMC to report Debate over Fed rate cuts heats up: What to watch this week Fed's Bowman makes case for 3 interest rate cuts in 2025 Intel CEO to visit White House on Monday Citi strategists raise S&P 500 target on resilient earnings Bitcoin Nears Record as Treasury Investors Boost Crypto Market BofA poll shows record number of investors say stocks overvalued Lithium market soars as CATL shuts one of world's biggest mines stock tanks after the company reports earnings stock plunged aorund 20% in premarket trading on Monday after the Israeli-based software company reported earnings. In the second quarter, reported earnings of $0.03 per share and revenue of $299 million. While revenue beat analyst expectations of $293 million, GAAP profits fell short, as Wall Street was looking for $0.20 per share, per S&P Global Market Intelligence. Investors have been looking for signs that economic uncertainty is pushing companies to pull back their spending on technology and software. The company's operating loss fell to $11.6 million from $1.8 million a year ago, and the operating margin fell to negative 4% from 1% last year. Read more live coverage of corporate earnings here stock plunged aorund 20% in premarket trading on Monday after the Israeli-based software company reported earnings. In the second quarter, reported earnings of $0.03 per share and revenue of $299 million. While revenue beat analyst expectations of $293 million, GAAP profits fell short, as Wall Street was looking for $0.20 per share, per S&P Global Market Intelligence. Investors have been looking for signs that economic uncertainty is pushing companies to pull back their spending on technology and software. The company's operating loss fell to $11.6 million from $1.8 million a year ago, and the operating margin fell to negative 4% from 1% last year. Read more live coverage of corporate earnings here US gold futures fall as traders await clarification on tariffs US gold futures (GC=F) in New York fell 2% as traders waited for the White House to clarify its tariff policy. Last week, the US Customs and Border agency surprised the market by ruling that 100oz and 1kg gold bars would face tariffs. Bloomberg News reports: Read more here. US gold futures (GC=F) in New York fell 2% as traders waited for the White House to clarify its tariff policy. Last week, the US Customs and Border agency surprised the market by ruling that 100oz and 1kg gold bars would face tariffs. Bloomberg News reports: Read more here. Target still in the bear camp Good WSJ story this morning on Target (TGT) and its many challenges, one of them finding its next CEO. I wrote more on this a couple months ago. I would expect an abysmal quarter (another one) from Target when it reports second quarter earnings on August 20. The company is not only dealing with operational challenges, but it has totally lost the value perception battle with Walmart. I don't see these dynamics changing this year, and maybe not until deep into 2026 provided an outside CEO is brought in to run a full assessment of the business. Good WSJ story this morning on Target (TGT) and its many challenges, one of them finding its next CEO. I wrote more on this a couple months ago. I would expect an abysmal quarter (another one) from Target when it reports second quarter earnings on August 20. The company is not only dealing with operational challenges, but it has totally lost the value perception battle with Walmart. I don't see these dynamics changing this year, and maybe not until deep into 2026 provided an outside CEO is brought in to run a full assessment of the business. Bitcoin near a fresh record Bitcoin looks to be breaking out of its recent trading range, nearing a fresh record this morning. There doesn't appear to be a clear catalyst for the pop today, though this Sunday X post from bitcoin evangelist Michael Saylor may have stoked the bulls. It suggests he will continue to be a buyer of bitcoin — perhaps no surprise, but the crypto market likes to be coddled. "If you don't stop buying Bitcoin, you won't stop making Money," Saylor wrote. Bitcoin looks to be breaking out of its recent trading range, nearing a fresh record this morning. There doesn't appear to be a clear catalyst for the pop today, though this Sunday X post from bitcoin evangelist Michael Saylor may have stoked the bulls. It suggests he will continue to be a buyer of bitcoin — perhaps no surprise, but the crypto market likes to be coddled. "If you don't stop buying Bitcoin, you won't stop making Money," Saylor wrote. crashing Shares of (AI) are getting crushed pre-market to the tune of 30%. And the rout is 100% deserved. Late Friday the company said it sees preliminary first fiscal quarter revenue of $70.2 million to $70.4 million, about 33% below the mid-point of its prior guidance for $100 million to $109 million. Sales would be down 19% from the prior year. The adjusted operating loss will be $57.7 million to $59.9 million, roughly twice the $23.5 million to $33.5 million loss that it had expected. I don't think there is anything to read into the AI trade here — this seems very company-specific, and tied to a sales reorg. Shares of (AI) are getting crushed pre-market to the tune of 30%. And the rout is 100% deserved. Late Friday the company said it sees preliminary first fiscal quarter revenue of $70.2 million to $70.4 million, about 33% below the mid-point of its prior guidance for $100 million to $109 million. Sales would be down 19% from the prior year. The adjusted operating loss will be $57.7 million to $59.9 million, roughly twice the $23.5 million to $33.5 million loss that it had expected. I don't think there is anything to read into the AI trade here — this seems very company-specific, and tied to a sales reorg. Sign in to access your portfolio
