A federal judge temporarily blocked the Trump administration's order yesterday to pause funding for all federal grants, loans, and other financial assistance just minutes before the directive was scheduled to go into effect. The block lasts until Monday afternoon and sets a hearing for arguments that morning.
The White House's order intended to temporarily halt trillions of dollars in aid to initiatives including education, healthcare, child care, disaster relief, housing assistance, and small businesses. The Office of Management and Budget sent a two-page memo and an 836-page spreadsheet to federal agencies Monday night, asking them to provide details about their spending programs.
Separately, Trump is reportedly offering buyouts to federal workers who don't want to return to the office as long as they resign by Feb. 6.
Google Maps says it will change Gulf of Mexico to “Gulf of...
Google Maps says it will change Gulf of Mexico to “Gulf of America” for US users. The gulf best known for oil spills and spring break debauchery will soon have a new name in your Google Maps app. Google said yesterday it is complying with President Trump’s executive order to change the name of the Gulf of Mexico to the Gulf of America. US users will see the new Americentric name, while users in Mexico will still see the original name (and users everywhere else will see both). Google will also change the name of Denali back to Mount McKinley in accordance with Trump’s order. President Obama renamed the Alaska peak in 2015 to honor the region’s Koyukon people, who have called it Denali for centuries.
Oil prices rebound from multi-week lows as investors brace for Trump tariffs
Oil prices settled up on Tuesday, bouncing back from multi-week lows,...
Oil prices settled up on Tuesday, bouncing back from multi-week lows, after the White House reaffirmed U.S. President Donald Trump's plans to issue tariffs on Canadian and Mexican imports this week.
Fears of weaker demand linked to soft economic data from China and rising temperatures elsewhere capped gains.
Brent crude oil futures settled up 41 cents, or 0.53%, at $77.49 per barrel. U.S. West Texas Intermediate crude futures were up 60 cents, or 0.82%, at $73.77.
Brent settled on Monday at its lowest since Jan. 9, while WTI hit its lowest since Jan. 2.
Dow ends higher, S&P 500 and Nasdaq bounce back after Monday's AI-inspired rout
U.S. stocks finished higher on Tuesday, as the S&P...
U.S. stocks finished higher on Tuesday, as the S&P 500 and the Nasdaq Composite recovered most of their losses from the previous session after the sudden rise of Chinese AI startup DeepSeek sent shockwaves through Wall Street.
The Dow Jones Industrial Average rose 0.3% to end near 44,850, according to preliminary data from FactSet.
The S&P 500 was up 0.9% to finish around 6,067, snapping a two-day losing streak.
The Nasdaq Composite surged over 2%, ending near 19,733. It was the best day for the tech-heavy index since Jan. 15, according to Dow Jones Market Data.
Investors were turning their attention to corporate earnings due this week amid concerns that a low-cost Chinese AI model could challenge American companies' dominance in the sector and their lofty valuations that have powered the bull market for the last two years. Microsoft Corp., Meta Platforms Inc. and Tesla Inc. are due to report their quarterly results on Wednesday after the closing bell, while Apple Inc. will report on Thursday.
The Federal Reserve also kicked off its two-day policy meeting on Tuesday, with fed-funds futures traders expecting no change in interest rates on Wednesday from the current range of 4.25% to 4.50%.
U.S. durable-goods orders rise for fourth month in past five
Sales of big-ticket manufactured goods and overall U.S....
Sales of big-ticket manufactured goods and overall U.S. business investment showed signs of revival toward the end of 2024, but it’s unclear whether a two-year industry slump is ending.
Orders for durable goods omitting transportation rose 0.3% in December and increased for the fourth time in the past five months. Durable goods are items such as computers and appliances meant to last at least three years
Overall orders fell 2.2% in the month, but almost entirely because of a decline in bookings for Boeing aircraft.
The ups and downs of the struggling U.S. plane manufacturer has skewed the headline durable-goods number for more than a year.
American manufacturers hope for bigger things in 2025, but not all the headwinds have died down. Interest rates remain high because of lingering inflation and some of Trump’s threatened tariffs could exacerbate price pressures.
