Secretary of State Marco Rubio announced late Friday the U.S. is revoking the visa of a Brazilian Supreme Court judge who oversaw the prosecution of former President Jair Bolsonaro and briefly banned Elon Musk's X in the country.
Why it matters: President Trump has repeatedly come to the aid of right wing allies across the globe, including Bolsonaro, calling them victims of ideological witch hunts. Trump threatened to hit Brazil with 50 percent tariffs in part for prosecuting Bolsonaro for an alleged coup attempt.
Beef prices are at record highs, and industry experts tell Axios they could stay that way into 2026 and beyond.
Why it matters: Meat's high price tag is squeezing grocery budgets at the height of grilling season, and as President Trump's tariffs creep into the inflation data.
The Rosebud sled from the film "Citizen Kane" sold at auction Thursday for $14.75 million, making it one of the most valuable props in movie history, AP reported.
State of play: The movie props auction included an array of other items.
The whip Harrison Ford's eponymous character used in "Indiana Jones and the Last Crusade" went for $525,000.
Macaulay Culkin's knit snow cap from "Home Alone" was set to go up for bid today.
Zoom in: Heritage Auctions said it was already the second-highest-grossing entertainment auction ever. The successful bidders were not identified.
💭 Nathan's thought bubble: I'd pay more for Indy's whip than the Rosebud sled.
President Trump seeks to use both monetary policy and trade policy to help the U.S. government reduce the burden of its debt. It's a major departure from what has long been considered best practice for economic policy.
Why it matters: The president's arguments for interest rate cuts suggest he seeks "fiscal capture," where monetary policy is set not based on economic conditions, but on what will be most helpful for the government as it seeks to manage its interest costs.
Why it matters: The sweeping law locks in Trump-era tax cuts and rolls out a fresh set of deductions, including tax breaks for tips, overtime pay, car loan interest and seniors.
Volatility spiked in the second quarter of 2025, amid record policy uncertainty thanks to tariffs.
Wall Street used this to its advantage, with Goldman Sachs raking in the best trading revenue in history.
Why it matters: The record quarter offers a lesson for investors about not fearing market down days, which are frequently close in proximity to the best market days as well.
Aggressive dip buying is fading for retail investors, according to J.P. Morgan, with new data indicating they're picking up ETFs instead of individual stocks.
Why it matters: Retail investors were good — or got lucky — in April, staying invested when the "smart" money pulled out and missed the start of a huge rally.
Elon Musk may be gone from the White House, but there's someone far more effective now firming up DOGE's legacy: Russell Vought.
Why it matters: The director of the Office of Management and Budget is helping make DOGE's dreams come through — by clawing back $9 billion in federal funding for the Public Broadcasting Service, National Public Radio and foreign aid.
