U.S. President Donald Trump speaks at the Saudi-U.S. Investment Forum, in Riyadh, Saudi Arabia, May 13, 2025. Hamad I Mohammed | ReutersThe U.S. will remove all sanctions on Syria, President Donald Trump announced Tuesday.”I will be ordering the cessation of sanctions against Syria in order to give them a chance at greatness,” Trump told a packed auditorium in Riyadh, Saudi Arabia during the first appearance of his four-day visit to the Middle East.”In Syria, which has seen so much misery and death, there is a new government that will hopefully succeed in stabilizing the country and keeping peace. That’s what…
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Senior Advisor to the US President Elon Musk (L) and Nvidia CEO Jensen Huang (C) are directed to greet the Saudi Crown Prince at the Royal Court in Riyadh on May 13, 2025. Brendan Smialowski | Afp | Getty ImagesWealth and power.Global political and business leaders gathered in Riyadh Tuesday for the Saudi Arabia Investment Forum, discussing the artificial intelligence boom and global trade.President Donald Trump met with Saudi Crown Prince Mohammed bin Salman as several deals were announced between the two countries.Saudi Arabia is investing $600 billion in the U.S., a package that the White House said would boost…
American presidents have been visiting Saudi Arabia for decades, and the trips have often produced memorable moments — some dramatic, others downright odd.As President Trump returns to Saudi Arabia, here is a look back at four moments from past presidential trips to visit leaders of the oil-rich Gulf state.2022: The Biden Fist BumpThe relationship between the United States and Saudi Arabia appeared to be wilting before President Joseph R. Biden Jr. visited Jeddah in 2022.Mr. Biden, as a candidate in 2019, had vowed to turn Saudi Arabia into a “pariah” over the killing of the Washington Post journalist Jamal Khashoggi,…
Coinbase is about to become the first and only crypto company to join the S & P 500, an event that symbolizes a great feat for the industry but also has significant positive implications for investors. On Monday evening, S & P Dow Jones Indices announced that the crypto exchange operator will be added to the benchmark S & P 500 stock index before trading begins on May 19. It will replace Discover Financial Services , which is being acquired by Capital One Financial . Coinbase jumped more than 18% on Tuesday, narrowing its year-to-date loss to less than 2%.…
Tareq Amin, CEO of Humain, and Jensen Huang, CEO of NVIDIA, attend the Saudi-U.S. Investment Forum, in Riyadh, Saudi Arabia May 13, 2025. Hamad I Mohammed | ReutersNvidia will sell over 18,000 of its latest artificial intelligence chips to Saudi Arabian company Humain, CEO Jensen Huang announced on Tuesday.The announcement was made as part of a White House-led trip to the region that includes President Donald Trump and other top CEOs.The cutting-edge Blackwell chips will be used in a 500 megawatt data center in Saudi Arabia, according to remarks at the Saudi-U.S. Investment Forum in Riyadh on Tuesday. Nvidia said…
Harvard sweatshirts are displayed for sale in a school store window on the Harvard University campus in Cambridge, Massachussetts, on April 15, 2025.Joseph Prezioso | Afp | Getty ImagesThe Trump administration announced Tuesday that it is cutting an additional $450 million in grants to Harvard University through eight federal agencies, on top of the $2.2 billion already frozen last week.”Harvard University has repeatedly failed to confront the pervasive race discrimination and anti-Semitic harassment plaguing its campus,” the Joint Task Force to Combat Anti-Semitism said in a statement.The task force went on to call Harvard a “breeding ground for virtue signaling…
Tesla CEO Elon Musk speaks, as he sits with Saudi Minister of Communications and Information Technology Abdullah Alswaha, at the Saudi-U.S. Investment Forum, in Riyadh, Saudi Arabia, May 13, 2025.Hamad I Mohammed | ReutersElon Musk said Saudi Arabia has approved Starlink for aviation and maritime use in the region speaking at an event during a White House-led trip to the kingdom on Tuesday.Starlink is the satellite internet service owned and operated by Musk’s aerospace and defense contractor, SpaceX.SpaceX recently began offering its Starlink hardware for free outside the U.S. in a bid to win new subscribers.Musk also briefly discussed his…
A general view shows container terminal in Hong Kong, China, April 23, 2025.Tyrone Siu | ReutersThe trade truce reached between the U.S. and China arrived just as President Donald Trump’s tariffs took a big bite out of North American & Asian manufacturing, with a steep retreat in April purchasing activity after the rush to hoard supply, according to the GEP Global Supply Chain Volatility Index.”The pause on tariffs is a major relief for manufacturers in both the U.S. and China,” said John Piatek, vice president of consulting for GEP. “Our Supply Chain Volatility Index shows manufacturing demand in China is…
Shipping containers are offloaded from a cargo ship at PortMiami on April 15, 2025 in Miami.Joe Raedle | Getty ImagesInflation retreated again in April on the back of lower prices for consumer staples like groceries and gasoline, and other items such as used cars and clothing.The consumer price index, a key inflation gauge, rose 2.3% in April from 12 months earlier, down from 2.4% in March, the Bureau of Labor Statistics reported Tuesday.It was the smallest annual increase since February 2021, just before pandemic-era inflation started to pop.However, economists warn it’s not a matter of if, but when, tariffs levied…
UPS reported earnings on April 30, and while they managed to beat estimates, the outlook for the upcoming quarter fell short of expectations. They also announced 20,000 job cuts following their recent split with Amazon — news that didn’t exactly inspire confidence. Amid all this negativity, several analysts have slashed their price targets. That said, the average target still hovers around $110 — noticeably higher than where the stock is trading now. For this trade, I’m taking a contrarian stance on this beaten-down name, especially as the technical charts start to hint at a possible bounce. It’s also worth pointing…
