Trump says he's reached a trade agreement with Indonesia but offers no details
'Great deal, for everybody, just made with Indonesia. I dealt directly with with their highly respected President,' Trump wrote on his social media platform. 'DETAILS TO FOLLOW!!!'
This marks Trump's fourth trade agreement announcement in three months. However, he and the administration promised to make several more deals that have failed to come to fruition.
This is a developing story and will be updated.
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Trump's former VP says that anyone associated with 'despicable' Epstein 'ought to be held up to public scrutiny.'
Mike Pence is the latest Republican to call on President Donald Trump to release the government's files on convicted sex offender Jeffrey Epstein. 'I think the time has come for the administration to release all of the files regarding Jeffrey Epstein's investigation and prosecution,' Trump's former VP said in interview with CBS News on Wednesday. 'I just think we ought to get the facts to the American people. I've always believed in transparency,' Pence said, adding that 'anyone who participated or was associated with this despicable man ought to be held up to public scrutiny.'
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Retail traders are resurrecting a pandemic-era penny stock this week. Here's what's going on with Opendoor.
The pandemic darling Opendoor has plunged in price since its IPO. However, the stock price has surged over 100% in price in recent trading sessions. Retail traders are piling in after a hedge fund manager announced a bullish position. A hedge fund manager's X post, eager retail investors, and some good old-fashioned r/WallStreetBets due diligence have created the perfect recipe for a new meme stock this week. Opendoor stock has soared 90% in the last five days, with shares of the company now trading at $1.73. The move is an unexpected reversal for the online home flipper, which went public via a Chamath Palihapitiya SPAC back in 2020 and has largely been discarded by Wall Street as a languishing penny stock. Once valued at a market cap of over $15 billion and a peak stock price of $35, shares fell from grace post-pandemic as the housing market cooled and the company experienced inventory write-downs. It's yet to post an annual profit since going public. Just two months ago, the company received a warning from Nasdaq that it could be delisted after the stock price failed to break above $1 for 30 consecutive days. In June, Opendoor announced a special meeting for later this month to discuss a reverse stock split in the order of 1‑for‑10 or as much as 1‑for‑50 in order to boost the value of its outstanding shares. This embedded content is not available in your region. What's driving the latest rally? A main driver behind Opendoor's recent rally was a recent X post from EMJ Capital founder Eric Jackson, in which he detailed his firm's position and investment thesis for the stock, as well as an $82 price target. The Canadian hedge fund manager is confident that Opendoor is a deep value turnaround company, with the potential to grow revenues from roughly $5 billion in 2024 to $12 billion by 2029. Jackson cited Opendoor's cost cutting efforts and market leadership, as well as potential rate cuts as positive catalysts for the stock. He also called for management reforms within the company and better operational execution. In Jackson's view, the stock has the potential to become a "100-bagger," returning over 1,000%. It's not Jackson's first time betting on an unloved stock. He's known for his bullish stance on Carvana back in 2023, when shares of the company were trading at $11. His bullish call paid off, as Carvana is now trading at over $350 a share. Retail investors answered the call after Jackson posted his Opendoor thesis and revealed his position. The stock's trading volume is currently nearing 250 million, well above its 90-day average of roughly 85 million, according to Yahoo! Finance data. As of Thursday morning, Opendoor was the third most trending stock on the site. And even before Jackson's announcement, investors on r/WallStreetBets had been chatting about the stock, with one user posting two months ago that they had opened a $155,000 position in OpenDoor. On the investing forum StockTwits, Opendoor is rated "extremely bullish" on the site's sentiment tracker, with message volume surging over the past 24 hours. Opendoor also has another hallmark of a classic meme stock: high levels of short interest, with 135.8 million shares, or 22% of its float, loaned to short-sellers. It's a signal that institutional investors are betting against Opendoor and creates a potential set-up for a short squeeze, where rising prices force short sellers to buy back shares and cause the stock to rally even more. While retail investors might be betting on a comeback, Wall Street sees a tough path ahead for the stock in the sluggish US housing market. Goldman Sachs gives Opendoor a $0.90 price target and a sell rating. Read the original article on Business Insider Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
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Reported birthday card from Trump to Epstein shines new light on their friendship as fallout from files release mounts
Donald Trump reportedly helped celebrate Jeffrey Epstein's 50th birthday with a bawdy greeting accompanied by a hand-drawn image of a naked woman. A report from The Wall Street Journal on Thursday uncovers new details about the relationship between the president and disgraced financier and convicted sex offender, whose death and connections to Trump are at the center of an explosive feud between his allies and right-wing figures demanding more information about the case. A letter bearing Trump's name, which was reviewed by The Journal, contains several lines of typewritten text framed by a drawing of a naked woman. His signature is a squiggly 'Donald' below her waist, mimicking pubic hair, according to the report. The letter concludes: 'Happy Birthday — and may every day be another wonderful secret.' In an interview with The Journal, Trump denied writing the letter or drawing the picture: 'This is not me. This is a fake thing. It's a fake Wall Street Journal story.' Donald Trump and Jeffrey Epstein pictured in 1992. A new report shed new light on the friendship between the two men (NBC News) 'I never wrote a picture in my life. I don't draw pictures of women,' he told the conservative-leaning newspaper, which is owned by Rupert Murdoch, who has over the years supported Trump. 'It's not my language. It's not my words,' Trump told the newspaper. A typewritten note styled as an imaginary conversation between Trump and Epstein, written in the third person, is reportedly included inside the outline of the naked woman. In the imagined conversation, Trump reportedly says 'we have certain things in common, Jeffrey,' to which Epstein replies, 'Yes, we do, come to think of it.' 'Enigmas never age, have you noticed that?' Trump writes, according to The Journal, which claims to have reviewed pages from a leather-bound album of birthday cards, examined by Department of Justice officials who investigated Epstein and his former girlfriend Ghislaine Maxwell, who was found guilty of child sex trafficking and other offenses in 2022. The revelation follows a disastrous week for the Trump administration as the president repeatedly tries to dismiss the so-called Epstein files as a Democratic 'hoax.' Thursday's report illustrates a closer than previously reported relationship between the president and Epstein, who was accused of sexually abusing dozens of minors before he was found dead in his jail cell in 2019. A Department of Justice memo on July 6 had effectively closed the case, affirming that no such 'client list' exists despite demands from Trump's supporters and allies for a full accounting of Epstein's death and alleged ties to a wider child trafficking conspiracy implicating powerful figures. On the campaign trail, Trump repeatedly promised to release FBI files related to Epstein, who was found dead in his jail cell on on August 10, 2019 while awaiting trial on sex trafficking charges. But the president's promises fell flat. Attorney General Pam Bondi, on Trump's directive, also promised to release the files, but after months of delays, the memo from the Justice Department and FBI said agencies would not be releasing any more documents relating to the case. Bondi had claimed the files were 'sitting on her desk' in February. She invited right-wing influencers to the White House for a photo-op at the end of that month, where they held up binders containing 'Phase 1' of the Epstein files, largely made up of already publicly available information about the case. Epstein died while in prison facing sex trafficking charges. While conspiracies have swirled about his 'client list,' Trump officials have recently said that no list exists () Bondi continued to stall. In May, she claimed there were 'tens of thousands of videos of Epstein with children or child porn,' which fueled further conspiracy theories that powerful people were being protected, and that 'Phase 1' binders were allegedly buying time. The administration's failure to release any other details about the investigation has been a major blow for Trump's supporters — including those within Trump's own administration. Deputy FBI director Don Bongino, who last year amplified conspiracy theories that Epstein was murdered, almost walked over the memo, according to reports. Trump has spoken out against those questioning him about the release of the Epstein files. (AP) While the White House likely hoped MAGA's fury would blow over quickly, outrage has only intensified. Frustrated, Trump lashed out at his supporters this week and reportedly complained in private that they won't 'shut the f*** up' about the Epstein files. Trump has spent several days publicly calling the Epstein case 'boring' and 'bulls***' as he questioned the loyalty of gullible 'weaklings' who demanded more from his Justice Department. 'Let these weaklings continue forward and do the Democrats work, don't even think about talking of our incredible and unprecedented success, because I don't want their support anymore!' Trump said in a Truth Social fury post. Even the White House has tried to temper the fury. On July 17, White House press secretary Karoline Leavitt was asked whether the president would appoint a special prosecutor to oversee the Epstein case. 'The president would not recommend a special prosecutor in the Epstein case,' Leavitt said. 'That's how he feels. And as for his discussions with the attorney general, I'm not sure.' Trump's friendship with Epstein spanned the late 1980s, 1990s and early 2000s, and Trump's phone number — as well as First Lady Melania Trump's — were included in Epstein's infamous leaked address books. Trump's name also appeared seven times in passenger logs for Epstein's planes. The pair reportedly fell out in 2004, when Epstein and Trump both tried to buy a Palm Beach estate. The next year, the FBI began investigating Epstein for child sex trafficking. He pleaded guilty to a state charge of soliciting sex from a minor in 2008. Trump distanced himself from his former friend after Epstein's arrest in 2019, when Trump was president. 'Well, I knew him like everybody in Palm Beach knew him,' Trump said on July 9, 2019, one day after Epstein's arrest. 'I mean, people in Palm Beach knew him. He was a fixture in Palm Beach. I had a falling out with him a long time ago. I don't think I've spoken to him for 15 years. I wasn't a fan.' Asked three days later what contributed to that 'falling out,' Trump said 'the reason doesn't make any difference, frankly.' One month later, Epstein was found dead in his cell at the Metropolitan Correctional Center in New York City.
