Trump orders the creation of a sovereign wealth fund. President...
Trump orders the creation of a sovereign wealth fund. President Donald Trump signed an executive order directing the Treasury and Commerce Departments to create the nation’s first-ever sovereign wealth fund—something he hinted could be used to buy TikTok. These government investment vehicles are more typical in countries with budget surpluses (unlike the US which tends to have a deficit), and the order didn’t specify where the fund would get money from, although Trump has previously said it could be “tariffs and other intelligent things.”
Trump administration officials are mulling executive orders that would shut down large parts of the Department of Education, according to the Wall Street Journal.
OpenAI unveiled a new agent that uses ChatGPT to conduct in-depth research. It’s creatively named “deep research.”
Climate change could erase $1.47 trillion in value from the US housing market over the next 30 years, a new study by First Street found.
Santorini, the Greek island everyone on your Insta feed has posted pictures of, was shaken by several earthquakes.
The New Orleans Saints were more involved than was previously known in helping local Catholic Church leaders orchestrate a PR campaign to try to limit fallout from clergy abuse revelations, internal emails from the NFL team show.
Oil, gasoline futures rise after Trump slaps tariffs on Canadian crude
Oil futures finished Monday with a gain after President...
Oil futures finished Monday with a gain after President Trump slapped tariffs on Canada, Mexico and China over the weekend, sparking worries over U.S. crude imports. Upside was limited, however, by concerns that a trade war would dent demand.
At a regularly scheduled meeting on Monday, ministers from members of OPEC+ — made up of the Organization of the Petroleum Exporting Countries and its allies — left its existing oil production plans unchanged, even as Trump last month called on the group to lower oil prices.
West Texas Intermediate crude for March delivery rose 63 cents, or 0.9%, to settle at $73.16 a barrel on the New York Mercantile Exchange after trading as high as $75.18.
April Brent crude , the global benchmark, tacked on 29 cents, or 0.4%, to $75.96 a barrel on ICE Futures Europe.
Back on Nymex, March gasolineclimbed2.9% to $2.12 a gallon, while March heating oilgained2.7% to $2.46 a gallon.
March natural gassurged 10.1% to $3.35 per million British thermal units, after posting a gain of nearly 12% last week.
U.S. stocks end lower, but off session lows, as Trump delays Mexico tariffs
U.S. stocks ended lower, but recovered from their session...
U.S. stocks ended lower, but recovered from their session lows, after President Trump said on Monday that he would pause imposing new tariffs on Mexico for a month, though tariffs on China and Canada will stil take effect on Tuesday.
The Dow Jones Industrial Average went down 122.75 points or 0.28% to close at 44421.91, according to FactSet data.
The S&P 500 declined 45.96 points or 0.8% to finish at 5,994.57.
The Nasdaq Composite fell 235.49 points or 1.20% to end at 19,391.96.
Trump's LNG strategy sparks interest but raises risks
President Donald Trump's...
President Donald Trump's plan to use US liquefied natural gas exports as a geopolitical tool is drawing interest from countries like India, Japan, and Kuwait, but also risks deterring major buyers like China. While US LNG exports are set to nearly double by 2030, experts warn that leveraging energy trade for political gains could erode long-term market confidence in American supply reliability.
Wall Street could be in for a wild ride to start the week after President Trump announced sweeping tariffs on Mexico, Canada, and China, sparking a new trade war. While many sectors are likely to be hit, keep an eye on auto stocks, which are highly exposed to trade restrictions in North America. GM shares fell 10% last Tuesday, one of its worst days in years, because the company’s optimistic outlook for 2025 did not account for the impact of tariffs.
