A sign for the Public Broadcasting Service (PBS) is seen on its building headquarters on Feb. 18, 2025 in Arlington, Virginia.Kayla Bartkowski | Getty ImagesPBS on Friday sued President Donald Trump to block his effort to cut off federal funding for the public broadcaster.The U.S. Constitution and the half-century-old law governing public television “forbid” Trump from attempting to defund PBS or “serving as the arbiter” of its programming, PBS wrote in U.S. District Court in Washington, D.C.The lawsuit from PBS and one of its member stations in Minnesota came three days after NPR filed a similar suit against Trump and…
Author: usaeverydaylife
Whether the stock market can sustain its big comeback next week will hinge in large part on the employment picture, with investors counting on resilient consumer spending to prop up an economy that’s undergoing a massive upheaval from tariffs. Stocks have staged a rapid turnaround this month, with the S & P 500 rallying roughly 6% and the tech-heavy Nasdaq Composite climbing more than 9%. Tech stocks stocks tied to artificial intelligence especially benefited. Nvidia ‘s strong results this week added to renewed confidence in the sector, helping to drive up the chipmaker more than 23% in May alone. Still,…
Inflation barely budged in April as tariffs President Donald Trump implemented in the early part of the month had yet to show up in consumer prices, the Commerce Department reported Friday.The personal consumption expenditures price index, the Federal Reserve’s key inflation measure, increased just 0.1% for the month, putting the annual inflation rate at 2.1%, the lowest of 205. The monthly reading was in line with the Dow Jones consensus forecast while the annual level was 0.1 percentage point lower.Excluding food and energy, the core reading that tends to get even greater focus from Fed policymakers showed readings of 0.1%…
(Check out Carter’s worthcharting.com for actionable recommendations and live nightly videos.) The May rally could be in trouble as a new month of trading approaches. The two unfilled up gaps in the S & P 500 SPDR ETF from earlier this spring are “an issue” for the market and will more than likely have to be “answered.” A sell-off down to the May 9 unfilled gap (at the 567.50 level) and a filling of said gap would represent a 3.05% decline for the market (from current levels). A drop to the April 23 unfilled gap (at the 529.30 level) and…
Taylor Swift performs on stage during the “Taylor Swift | The Eras Tour” at Wembley Stadium on June 21, 2024 in London, England.Jo Hale | Redferns | Getty ImagesTaylor Swift now controls her entire music catalog after she bought back the master recordings of her first six albums.”I’m trying to gather my thoughts into something coherent, but right now my mind is just a slideshow. As a flashback sequence of all the times I daydreamed about, wished for, and pined away for a chance to get to tell you this news,” she said in a letter on her website Friday. “I almost…
Tesla CEO Elon Musk speaks alongside U.S. President Donald Trump to reporters in the Oval Office of the White House on May 30, 2025 in Washington, DC. Kevin Dietsch | Getty ImagesTesla CEO Elon Musk on Friday deflected a reporter’s effort to ask the mega-billionaire about a New York Times article detailing his alleged drug use during President Donald Trump’s campaign last year and legal drama involving some mothers of his children.Musk, who had led the DOGE government cost-cutting initiative for Trump since January, began talking over Fox News reporter Peter Doocy when Doocy asked him at a White House…
President Donald Trump will hold a rally Friday at a U.S. Steel plant near Pittsburgh, a week after signaling that he had cleared a controversial merger with Japan’s Nippon Steel.Trump is scheduled to deliver remarks at 5 p.m. ET at U.S. Steel’s Irvin Works in West Mifflin, Pennsylvania, according to the White House. Investors and union members will listen for answers from the president on what shape the deal he announced between U.S. Steel and Nippon will take.Trump described the deal as a “partnership” in a May 23 post on his social media platform Truth Social. The president said U.S.…
Tom Lee says investors are in a new bull market following the April lows, and prefers small caps in the second half of the year as buyers start to look past tariff risk. “I think what happened at the April lows — which was very capitulatory, and that was a huge liquidation event, and we had a VIX spike to 60 — that is the kind of flush and reset that I would associate with a new bull market,” Lee told CNBC’s ” Money Movers ” on Friday, referring to the CBOE Volatility Index . “I think we had what…
Elon Musk is interviewed on CNBC from the Tesla headquarters in Texas.CNBCShares of the Elon Musk-led automaker Tesla have rallied in May despite recent poor car sales numbers for the company in China and Europe, as the billionaire CEO promised to focus more on his businesses than politics.Tesla shares are on track for an increase of more than 20% for the month.The stock is still down about 12% for the year. Apple is down about 21% year-to-date, the worst of all the megacaps.The bounceback in May comes as President Donald Trump marks the end of Musk’s time as a “special…
Chinese President Xi Jinping and U.S. President Donald Trump.Dan Kitwoodnicholas Kamm | Afp | Getty ImagesChina is calling out the U.S. for “discriminatory restrictions” in its use of export controls in the chip industry, after the Trump administration accused the world’s second-largest economy of violating a preliminary trade deal between the two countries. “Recently, China has repeatedly raised concerns with the U.S. regarding its abuse of export control measures in the semiconductor sector and other related practices,” China U.S. embassy spokesperson Liu Pengyu told NBC News.It’s the latest escalation in the simmering trade war between the U.S. and China, particularly…
