President Trump said on Wednesday that he would impose a 25% tariff on select semiconductors, including the Nvidia chips it plans to sell in China.
Why it matters: The tariffs are part of a broader deal, one in which the U.S. government will reap revenues from allowing Nvidia to sell AI processors in China.
Why it matters: The bankruptcy of the luxury retailer behind Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman shows that affluent shoppers are no longer enough to protect chains from financial missteps.
The Dodge Charger, Ford Maverick Lobo and Hyundai Palisade are the 2026 North American Car, Truck and Utility of the Year winners, jurors revealed this morning at the Detroit auto show.
Why it matters: With new-car prices soaring, judging this year's winners highlighted a growing tension: value is becoming as important as innovation and design.
Interest rate cuts from the Federal Reserve aren't coming fast enough for President Trump. He's imposing policies to tryto achieve easier money through other means.
Why it matters: Trump's push to address affordability concerns in recent days has largely focused on lowering borrowing costs for consumers — though without spelling out detailed policy levers.
And even if efforts to lower mortgage and credit card rates succeed at lowering borrowing costs, their broader economic impact is uncertain.
JPMorgan Chase's earnings results included a miss on investment banking revenue and a hit to net income. But CEO Jamie Dimon is still increasing the bank's planned expense growth for 2026 by about $9 billion.
Why it matters: If JPMorgan is spending more, other banks may follow suit, which could fundamentally change the base case for financials this year.
The golden handcuffs are slipping: For the first time since 2020, the share of U.S. homeowners with mortgages set at 6% and higher, exceeds those with mortgages below 3%.
Why it matters: It's a sign that the pervasive rate lock that's kept the housing market on ice is loosening — good news for anyone looking to move.
Oil prices have risen to their highest levels since last fall as traders weigh the prospect of the U.S. striking Iran amid the regime's bloody crackdown on protesters.
Why it matters: Iran is OPEC's fourth-largest producer, pumping well over three million barrels per day and exporting over 1 million barrels per day despite U.S. sanctions, with most flowing to China.
President Trump is reaching deeper than ever into the gears of the U.S. economy, attempting to harness state power to directly shape prices, markets, interest rates and corporate behavior.
Why it matters: The Trump administration's economic interventions — including its extraordinary criminal probe of the Federal Reserve — go far beyond typical electioneering.
The labor market is stagnant, if not in free fall, but one field stands out as an auspicious one for job seekers, according to Indeed.com.
The big picture: Seven of 2026's top 10 jobs — considering factors like availability, pay and wage growth — are in health care, according to the website's report published on Tuesday.
The probe into Federal Reserve Chair Jerome Powell comes as the Supreme Court is weighing just how strong President Trump's grip on independent agencies can get.
The big picture: Trump has taken significant steps to reshape the federal bureaucracy to his liking, but the Fed has eluded him. However, the Supreme Court is set to hear a pair of cases — that of Fed governor Lisa Cook and fired Federal Trade Commissioner Rebecca Slaughter — that could expand the president's power to fire.
The Federal Reserve's modus operandi through years of attacks from President Trump has been straightforward: Head down, do your job, don't get sucked into counterattacks.
Fed chair Jerome Powell tossed that playbook aside in responding forcefully to the prospect of criminal charges over his stewardship of the Fed's building renovation.
The big picture: Some 36 hours after the shocking news broke, the strategy is working. Trump allies within the administration and on Capitol Hill are distancing themselves from a potential Powell prosecution.
Grocery prices rose at the fastest pace in three years, keeping pressure on household budgets even as overall inflation held steady in December.
Why it matters: The jump in costs highlights the challenge for the White House in the lead-up to midterm elections. Broad inflation relief is little consolation for Americans if they aren't seeing it reflected in grocery bills.
China's government last week confirmed that it will review Meta's $2.5 billion acquisition of Manus AI, whose core team last year relocated from China to Singapore.
Why it matters: This could signal an end to "Singapore-washing," a strategy that's helped a number of Chinese tech companies secure foreign investment and commercial contracts.
WebAI, an Austin, Texas-based sovereign AI platform, raised "high double-digit" millions of dollars at a $2.5 billion pre-money valuation, it tells Axios.
Why it matters: The idea is to run AI directly on devices, bypassing the cloud, for the sake of increased privacy, performance, and energy efficiency.
Inflation held at a four-year low in December, the government said on Tuesday.
Why it matters: The data comes as the White House attempts to address consumers' affordability concerns that have weighed on President Trump's approval rating.
Many of the world's top central bankers rallied behind Federal Reserve chair Jerome Powell on Tuesday, issuing a rare joint defense after the Trump administration opened a criminal investigation into him.
Why it matters: The banking establishment fearsTrump's pressure campaign against Powell could destabilize the global economy. If America's central bank loses credibility, every part of the economy — mortgage rates, grocery bills, wages — could suffer.
Threats to Fed independence, a $200 billion mortgage bond purchase, a possible cap on credit-card interest rates and more didn't stop stocks from hitting records.
Why it matters: The fire hose of policy from Washington hasn't shaken investors, yet, who are happy to keep their eyes on the AI prize.
