The bond market served as a check on the Trump administration in April, when its sharp reaction forced a change in tariff policies. But bond investors seem asleep at the wheel after President Trump's firing of Fed governor Lisa Cook.
Why it matters: The muted reaction could be a sign that bond investors are pricing in an environment where Trump policies don't stick.
Sycamore Partners completed its $23.7 billion takeover of Walgeens Boots Alliance, whose shares no longer will trade on the Nasdaq.
Why it matters: One of the nation's largest pharmacy chains is now owned by a private equity firm with no health care experience, as Sycamore has focused exclusively on retail.
One bulwark for the Federal Reserve's political independence has been its network of 12 reserve banks, each with a complex public-private hybrid structure meant to distribute power nationwide.
But ultimately, a determined majority of the Board of Governors in Washington can reshape those reserve banks and their leadership as it wishes.
Why it matters: If the Trump administration succeeds at installing a Board of Governors majority in the near future, it would be able to block the reappointment of any or all of the 12 reserve bank presidents early next year.
President Trump fired Robert Primus, a member of the railroad regulatory board set to consider Union Pacific's proposed $85 billion merger with Norfolk Southern.
Why it matters: The Democrat was the only Surface Transportation Board member to oppose Canadian Pacific and Kansas City Southern's merger in 2023.
France, Germany, and the U.K. sent a letter Thursday morning to members of the UN Security Council announcing they are triggering the "snapback" mechanism to reimpose UN sanctions on Iran, which had been suspended under the 2015 nuclear deal.
Why it matters: In the letter, the three European powers emphasized that during the next 30 days — before the sanctions take effect — they are open to negotiations with Iran on a nuclear agreement that could halt the process.
As armed National Guard troops patrol the nation's capital, a majority of Americans now see handling crime as a relative strength for President Trump, according to a new AP-NORC poll.
Why it matters: Americans aren't generally happy about the president's handling of immigration and the economy, but 53% said they approved of his approach on crime, the poll found.
Here's what's new on Apple TV+, Netflix, Prime Video, Disney+ and Hulu.
What we're watching: A new music show where K-pop stars team up with American acts; a star-studded movie about retiree amateur sleuths; and the final season of "Upload."
Nvidia, the biggest company in the world by market cap, reported world-beating results Wednesday evening. But export controls to China dampened its data center revenue, and that's making investors nervous.
Why it matters: Nvidia is caught in the middle of a Trump trade war that could impact its earnings growth and the trajectory of the entire stock market.
Trump administration tariffs on India would halve "if it stops buying Russian oil and helping to feed the war machine" in Ukraine, White House trade adviser Peter Navarro said Wednesday.
Why it matters: India's tariffs doubled to 50% on Wednesday, but the key U.S. trading partner is showing no signs of backing down, with Prime Minister Narendra Modi urging citizens to buy Indian-made and his senior officials meeting with Russia's leader Vladimir Putin last week.
