What Trump and CEOs actually came to Riyad

“Many checks”

Managers who had high expectations of the second Trump administration had not registered for the unrest of his trade war. President Trump’s deals-oriented visit to Saudi Arabia is more of what they had in mind.

Apart from questions about how many of the agreements of millions of dollars the administration announced on Tuesday were actually newThe first stage from Trump’s trip to the Middle East underlines that his transactional instincts are that business leaders have bet.

Here are highlights of what was announced on Tuesday:

• A defense agreement of almost $ 142 billion in which more than a dozen American companies are involved and the Air Force and Space Skills, Border Security, Communication and More Covers

• A deal for Nvidia To sell approximately 18,000 of his latest chips to the Saudi artificial intelligence Start-Up Humain to raise new data centers, and for AMD to sell around $ 10 billion From processors to Humain – with shares of both chip makers that rise on Tuesday

• About $ 80 billion in investments by Google, Oracle, Uber and others in “advanced transforming technologies in both countries”

• Worth a total of $ 19 billion from Gasturbine by GE Nertova and aircraft export by Boeing

• An obligation from DataVolt, a Saudi company, to invest $ 20 billion in data centers for artificial intelligence and energy infrastructure in the US

• Saudi -Arabia’s approval of the use of Starlink In the region, according to Elon Musk

The dealstroom is the reason why top company leaders were in Riyadh Yon on Tuesday. Consider who was on one US-Saudi Investment Lunch: Musk; Jensen Huang from Nvidia (Die Trump gave a shoutWhile you notice that Tim Cook from Apple not gift); Sam Altman from OpenAi, who cancel billions to build data centers and sell AI services; Larry Fink from BlackRock, who has diligent Saudi wealth; Andy Jassy from Amazon; Dara Khosrowshahi van Uber; Alex Karp from the Palantir data consultancy; Kelly Ortberg from Boeing; And more.

It is also an environment – reignOf course, but also aimed at deals – where Trump Leek to enjoy. “We have the largest managers in the world here,” he said. “They leave with many checks.”

It does not matter that the announced deals are short of Trump’s goal. The White House said it had Secure $ 600 billion worth From investment obligations from Saudi Arabia. But the announced total to date is around $ 283 billion, and the organizers of the Investment Forum said that 145 deals were signed for a total of just over $ 300 billion. And several of the deals have been in the making for Trump’s second term.

The president has pressed Saudi officials to commit to more than $ 1 trillion (and to lower the oil price to start). But that figure exceeds the assets held By the Saudi sovereign power fund, the Public Investment Fund – that has already said that it wants to invest less abroad and instead want to concentrate on the domestic economy.

All this is a memory that deals are the way to the heart of Trump. Promises of large investments were how crown prince Mohammed bin Salman, the de facto ruler of Saudi Arabia, forged links with the President during his first term.

And it is a lesson that Qatar and the United Arab Emirates have also learned, which almost certainly means that billions will be announced more in obligations when Trump then goes there.

• Speaking of Qatar, Even Republicans are wary From the potential gift of the land of a Boeing 747 for use as an air force: Senator Ted Cruz of Texas, CNBC told that “the aircraft is significant espionage and surveillance problems.”

This is what happens

A commercial court hears a lawsuit on the rates of President Trump. A panel with three judges in front of the American Court for International Trade in Manhattan listened to arguments of a group of small companies that argue for Block the taxes And against a defense of lawyers. The Washington Post reports that separately election problems Helped the White House convincing to illuminate his Chinese rates.

The Tesla board would weigh a new wage package for Elon Musk. A committee of two directors-Robyn Denholm, the chairman of the car manufacturer, and Kathleen Wilson-Thompson, an independent board member is formed To consider ways to compensate Musk, especially if the Delaware Supreme Court retains the destruction of a payment day of millions of dollars, the Financial Times reports. Separately, Denholm sold $ 198 million Van Tesla shares in the past six months through a pre -agreed trading plan.

Musk’s Doge no longer claims the credit for reducing more federal contracts. The Ministry of Public Efficiency Claims withdrawn From his website that it had canceled dozens of contracts after the Times had reported that they had already recovered. The movement underlines greater questions about what the Musk-formed group has actually reachedAnd whether it is Losing influence on Capitol Hill.

Microsoft again waves the ax on its workforce. The tech giant said it intended dismissal about 3 percent of his employeesOr about 6,000 people, because it is aimed at reducing layers of management. The relocation-allocation better than expected quarterly income is the latest reminder that technology companies still see benefits of reducing costs, with Amazon and Crowdstrike among those who have announced this year.

Back to square

Calm has returned to the bond market and S&P 500 Futures point up on Wednesday as investors are bullish that President Trump’s trade war will be replaced by trade agreements.

The speed of the market bouncing is reminiscent of the V-shaped market recovery of COVID era in April 2020, according to data from Deutsche Bank. That surge reinforced investment portfolios and led to a tree of deals, but there were Lots of hiccups on the way.

This can also be jerky. Investors welcomed the last on Tuesday Consumer price index reportHe showed that the main text Inflation has risen by 2.3 percent on an annual basis, the lowest level in more than four years. But economists expect to see the effects of rates on price increases in future reports. A series of companies has warned that the taxes have increased their supply chains, forcing them to consider pass on those costs to consumers.

Here is how things can come out:

The bull case: There have now been three consecutive Tamme CPI reports; even Egg prices are falling. If there had been no tariff uncertainty, the story that nowadays hangs over markets can, it is about the Fed that has largely eradicated inflation threat, analysts say.

Could a series of trade agreements keep the inflation genius in the bottle? Would that be enough to convince the Fed to resume the reduction of interest rates, what could borrow and motivate investors to buy shares?

On social media Tuesday, Trump begged again The central bank and her chairman, Jay Powell, to act: “The Fed must lower the rate, like Europe and China have done. What is wrong with a late Powell? Not honest for America, who is ready to bloom? Let it happen, it will be something beautiful!”

(Having said, Futures traders on Wednesday actually reduced their chances somewhat for only two percentages of cuts this year.)

De Beer Case: Tuesday’s CPI report was an air mirroring. “Higher rates threaten to derail this trend, and our expectation is that the prices for goods and clothing, including vehicles and clothing, will rise in the coming months,” wrote Sarah House, a senior economist at Wells Fargo, on Tuesday in a research memorandum. Other economists marked the rising prices for household furniture, toys and audio equipment as a sign that rates can still press consumers.

The question is whether rates result in deep -rooted inflation, which can hollow the purchasing power of the consumer and economic growth. That can put more pressure on the Fed to intervene – but that can take months. “It will be a quiet summer for the Fed,” Becky Qin, a multi-asset portfolio manager for Fidelity International, told Bloomberg TV this morning.

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We would like to know how the rates influence your company. Have you changed suppliers? Negotiate lower prices? Pait investments or recruitment? Made plans to move production to the US? Or have the rates helped your company? Please Let us know what you are doing.

“He has to leave.”

– Eric HolderThe former American Attorney General who led an investigation into the World Economic Forum founder Klaus Schwab due to whistleblower accusations of financial inappropriation and discrimination, according to managers of the organization, according to the Wall Street Journal.

How donors missed Biden’s warning signals

The Fallout of the presidential election has solved the soul-seeking search within the Democratic Party and its backers, especially before the Midterms of next year. A new book Is ready to force them to think about what went wrong.

“Original sin: the decline of President Biden, the coverage and his disastrous choice to run again”, by Jake Tapper from CNN and Alex Thompson of Axios, dives in the question of President Joe Biden’s decision to stay on the democratic ticket for so long in November.

A most important focus of the book is how Democratic Power players and great donors missed the signs that the mental sharpness of Biden apparently slipped away, even when they gutters huge amounts in his re-election campaign. Were these just bad days, or the sign of deep -rooted decline? Were assistants and party leaders in denial, the book suggests, or were they deliberately misleading about the mental state and capacities of Biden?

Tapper and Thompson Detail What Backstage went with a great fundraising in Los Angeles, organized by Jeffrey Katzenberg, the Hollywood Mogul who was chairman of the Biden campaign, with the help of the actor George Clooney, two weeks before the fatal debate that played the end of Biden. Of one excerpt in the New Yorker:

It seemed clear that the President Clooney had not recognized.

“It wasn’t ok,” the Hollywood VIP remembered who had seen this moment. … “It was uncomfortable.”

“George Clooney,“The assistant clarifies for the president.

“Oh, yes!” Said Biden. “Hello, George!”

Clooney was shaken to the core. The president had not recognized him, a man he had known for years. Clooney had previously expressed concern about the health of Biden – an assistant of the White House had told him a few months earlier that they were working to get the president to take longer steps when he walked – but the problem clearly went much further than his course. This was a lot of digger.

Was this the president of the United States?

Clooney was certainly not the only one involved. Other attendees with a high dollar who posed for photos with Obama and Biden described Biden as slow and almost catatonic. Although they saw sinks of clarity while watching him on television, and later that night on stage, there were clear brainiders and clear signs of a mental slide. It was frightening for some of them.

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