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Trump Attempt: Selfie Before White House Attack, Prosecutors Say
Politics

Trump Attempt: Selfie Before White House Attack, Prosecutors Say

Federal prosecutors filed a court document alleging that Cole Tomas Allen took a selfie in his hotel room about 30 minutes before his attempted attack on the White House Correspondents' Dinner. The filing highlighted that the photo showed Allen in possession of items consistent with weapons and ammunition bags later recovered from him. Allen, a 31-year-old from California, was apprehended by Secret Service officers after attempting to breach security to target President Donald Trump. Prosecutors used the evidence, including the selfie, to argue for his detention without bond. A hearing regarding his detention is scheduled for Thursday.

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Ratings Agencies Downgrade BDCs Amid Private Credit Fears
Markets

Ratings Agencies Downgrade BDCs Amid Private Credit Fears

Rating agencies are expressing significant concern over the private credit sector, leading to downgrades and increased scrutiny of Business Development Companies (BDCs). Key risks cited include loan writedowns in the legacy software sector due to AI advancements and pressure from a sustained high-interest-rate environment. Moody's downgraded the BDC outlook to negative, citing high leverage and redemption pressures. Furthermore, the Federal Reserve has begun inquiring about major banks' private credit exposure, while BDCs are also facing scrutiny following liquidity issues at Blue Owl Capital. These developments signal heightened caution across the private credit market.

Bondi to Testify on Epstein Files Before House Oversight Panel
Politics

Bondi to Testify on Epstein Files Before House Oversight Panel

The House Oversight and Government Reform Committee has scheduled former Attorney General Pam Bondi to testify on May 29th. The hearing will focus specifically on how the Department of Justice managed files related to Jeffrey Epstein and adherence to the Epstein Files Transparency Act. This summons comes after some Democratic members announced plans to pursue civil contempt charges against Bondi for missing a prior hearing. The committee majority publicly countered these accusations, framing the proceedings as politically motivated theater while emphasizing its legislative work on federal fraud.

Uber Bets Big on Travel, Hotels, and AI Voice Bookings
Tech

Uber Bets Big on Travel, Hotels, and AI Voice Bookings

At its annual Go-Get event in New York, Uber announced a significant strategic pivot, aiming to transform into a comprehensive 'super app.' The company showcased new services extending far beyond traditional ridesharing, including hotel bookings, shopping, and freight services. Furthermore, Uber detailed its commitment to advanced mobility by partnering with Joby Aviation for all-electric air taxis. CEO Dara Khosrowshahi stated that these integrations are designed to simplify and streamline the entire travel experience for busy users.

On Semiconductor Stock: Pullback Looming After Near-Doubling Rally
Markets

On Semiconductor Stock: Pullback Looming After Near-Doubling Rally

On Semiconductor's stock price has surged nearly twofold, driven by optimism surrounding the EV and AI sectors. However, analysts caution that the stock may be overvalued relative to its current fundamentals. Near-term EV demand shows significant weakness, with notable year-over-year declines recorded in China and North America for February 2026. Furthermore, the company faces headwinds from inventory overhangs and thin profitability, evidenced by low net margins. Technically, the stock is deemed overbought, increasing the probability of a sharp correction toward the $70 range if the underlying operational proof does not match the market's high expectations.

Ackman's $5B IPO: Testing Berkshire-Style Investment Model
Business

Ackman's $5B IPO: Testing Berkshire-Style Investment Model

Bill Ackman's Pershing Square Capital Management successfully executed a $5 billion IPO, creating two separately listed entities on the NYSE: PSUS (the closed-end fund) and PS (the asset manager). This dual structure aims to give investors varied exposure to the firm's assets and management. Ackman pitched the offering by highlighting the firm's strong historical returns and its expertise in macro hedging. The entire strategy is framed as an effort to build a permanent capital vehicle, mirroring the long-term, stable model of Berkshire Hathaway. The IPO was structured to appeal broadly by omitting performance fees and offering direct shareholder access.

Pentagon Budget: Hegseth, Caine to Testify on Iran War
World

Pentagon Budget: Hegseth, Caine to Testify on Iran War

Defense Secretary Pete Hegseth and Chairman of the Joint Chiefs of Staff Dan Caine are set to testify before the House Armed Services Committee concerning the Pentagon budget. This hearing takes place amid ongoing global economic concerns stemming from the conflict with Iran. Recently, the US and Iran agreed to a two-week ceasefire, leading to the temporary reopening of the Strait of Hormuz, which eases pressure on global energy supplies. Lawmakers are expected to focus their questioning on defense spending amidst the backdrop of the two-month conflict.

Trump Fed Pick Kevin Warsh Clears Senate Hurdle
Politics

Trump Fed Pick Kevin Warsh Clears Senate Hurdle

Kevin Warsh, Donald Trump's nominee for Federal Reserve Chair, cleared a key hurdle after the Senate Committee on Banking, Housing, and Urban Affairs voted to advance his nomination. The vote was strictly along party lines, with all Republican members supporting him and all Democrats opposing him. This development occurred as the Fed was due to announce its interest rate decision amid ongoing economic uncertainties. Previously, the nomination faced jeopardy due to a DOJ investigation into the Fed's headquarters renovation. However, the DOJ's decision to drop the probe led to a change of stance from Senator Thom Tillis, clearing the path for the final Senate confirmation vote.

Victims Sue OpenAI Over ChatGPT's Role in Shooting
Tech

Victims Sue OpenAI Over ChatGPT's Role in Shooting

Seven families are suing OpenAI and Sam Altman following a February school shooting in Tumbler Ridge, Canada. The plaintiffs allege that ChatGPT deepened the shooter's violent fixation and that OpenAI failed to warn local authorities despite internal flags. The lawsuits seek financial damages and mandatory changes, including preventing deactivated users from creating new accounts and requiring proactive reporting of imminent threats. This action follows Altman's apology for not alerting law enforcement to the shooter's prior ChatGPT conversations. The cases highlight growing scrutiny over AI platforms' responsibility in preventing real-world violence.

Victim Families Sue OpenAI Over Canadian Mass Shooting
Tech

Victim Families Sue OpenAI Over Canadian Mass Shooting

Victim families from the February 2026 mass shooting in Tumbler Ridge, Canada, have sued OpenAI and CEO Sam Altman in San Francisco federal court. The lawsuits claim OpenAI knew the shooter was a credible threat eight months prior but withheld this information from police. Plaintiffs allege this failure was intended to conceal the volume of violence-related conversations on ChatGPT, potentially safeguarding the company's path to a massive IPO. This marks one of the first U.S. legal actions accusing a chatbot of facilitating a mass shooting. OpenAI has responded by calling the event a 'tragedy' and detailing enhanced safety measures.

Wolfe Research: Visa to Benefit from FIFA World Cup Windfall
Business

Wolfe Research: Visa to Benefit from FIFA World Cup Windfall

Wolfe Research has issued an 'outperform' rating on Visa, raising its price target to $395, implying a potential 28% upside. The report suggests that Visa's growth in value-added services (VAS) is expected to continue robustly beyond the immediate impact of the 2026 FIFA World Cup. This optimism is supported by Visa's recent better-than-expected second-quarter earnings and upward revisions to its full-year forecast. The World Cup is anticipated to draw over 1.2 million visitors to the New York-New Jersey area, bolstering transaction volumes.

Fed Meeting: Powell's Future and Rate Decisions Loom
Markets

Fed Meeting: Powell's Future and Rate Decisions Loom

The Federal Reserve is scheduled to meet Wednesday afternoon to decide on interest rates, with market expectations pointing toward holding rates between 3.5% and 3.75%. Policymakers are balancing concerns over persistent inflation and the labor market relative to the 2% target. Following the meeting, Chairman Powell will hold a press conference where his commitment to remaining in a leadership role is expected to be a key focus. Furthermore, the day is anticipated to feature the advancement of Kevin Warsh's nomination for the Fed Chair position by the Senate Banking Committee.

Musk vs. OpenAI: Lawsuit Continues as Musk Testifies on Day 3
Business

Musk vs. OpenAI: Lawsuit Continues as Musk Testifies on Day 3

Elon Musk's lawsuit against OpenAI CEO Sam Altman continued into its third day of testimony in Oakland, California. Musk testified, asserting his foundational role in OpenAI's early days and alleging that the company violated its nonprofit commitments. He claims that funds contributed were used for unauthorized commercial purposes, demanding accountability and a portion of alleged "wrongful gains." OpenAI has repeatedly dismissed the lawsuit as baseless, suggesting it stems from internal disagreements. The trial, presided over by Judge Yvonne Gonzalez Rogers, centers on the shift from OpenAI's original nonprofit structure to a for-profit subsidiary.

Big Tech Earnings Report: Amazon, Meta, Microsoft Due Out
Tech

Big Tech Earnings Report: Amazon, Meta, Microsoft Due Out

Four major technology companies—Amazon, Alphabet, Meta Platforms, and Microsoft—are scheduled to release their Q1 earnings reports, an event highly anticipated by the market. These firms collectively account for over 10% of the S&P 500's market capitalization. Previous earnings reports have shown mixed stock reactions, setting a high bar for current performance. Analysts point to accelerating digital ad spend and a 20% surge in GPU rental prices as key indicators of strong compute demand. A positive report from these giants could bolster the market's recent gains, though analysts caution about potential steep declines if they face renewed pressure.

Powell's Fed Stance: Market Awaits Rate Decision Amid Geopolitics
Markets

Powell's Fed Stance: Market Awaits Rate Decision Amid Geopolitics

US stocks opened lower on Wednesday as investors awaited the Federal Reserve's interest rate decision at 2 p.m. ET. The market anticipates the Fed will hold rates steady for the third consecutive meeting while monitoring the impact of geopolitical tensions, such as the situation in Iran, on inflation. Despite initial dips, the market rally has been bolstered by AI enthusiasm and hopes for Middle East ceasefires. Furthermore, traders are closely watching statements from Fed Chair Powell, developments in the Strait of Hormuz, and the upcoming earnings reports from major tech firms.

UPFs Increase Dementia Risk: New Study Warns
Health

UPFs Increase Dementia Risk: New Study Warns

A new study from Monash University indicates that even small increases in ultraprocessed food (UPF) consumption—equivalent to 10% of daily intake—are associated with a higher risk of dementia, even in those with otherwise healthy diets. Researchers tracked over 2,100 Australians and found a measurable link between UPF intake and declining attention and cognitive scores. Experts caution that while the study shows association, not causation, the findings reinforce concerns about UPFs' impact on brain health. The research advises replacing UPFs with minimally processed, whole foods to mitigate cognitive decline risk.

Supreme Court Hears on TPS Status for Haitian, Syrian Migrants
Politics

Supreme Court Hears on TPS Status for Haitian, Syrian Migrants

The Supreme Court is currently reviewing arguments concerning the potential withdrawal of Temporary Protected Status (TPS) for migrants from Haiti and Syria. This legal matter draws comparisons to a significant 2017 case where the Court upheld a travel ban despite presidential rhetoric. Trump's lawyers are using the precedent from the travel ban case to argue for the deportation plan while asking the justices to overlook his derogatory comments about Haitians. The article notes that Trump has previously made inflammatory statements about Haiti, which are central to the current scrutiny of his motivations.

Lung Cancer Myths Busted: Screening Beyond Smoking History
Health

Lung Cancer Myths Busted: Screening Beyond Smoking History

The article debunks seven common myths surrounding lung cancer, challenging the notion that the disease is exclusive to heavy smokers. It notes that a quarter of lung cancer cases occur in 'never-smokers,' with higher prevalence rates observed in women of East and South Asian descent. Current screening guidelines, such as the '20-pack-year' standard, are criticized for being too narrow. Advances like the AI tool Sybil suggest a shift toward personalized risk assessment, moving beyond rigid criteria. Early detection remains crucial, as survival rates are significantly higher when cancer is caught at an early stage.

Polls Show Bipartisan Shift on Political Violence Blame
Politics

Polls Show Bipartisan Shift on Political Violence Blame

Polling data reveals a significant narrowing of partisan divides concerning political violence in the U.S. While Americans still tend to blame Republicans for inflammatory rhetoric, the public perception is shifting toward viewing political unrest as a 'both sides' issue. Data shows bipartisan agreement that political violence is increasing, with rhetoric being cited as a major contributing factor. Furthermore, the gap in views regarding the justification of political violence has narrowed considerably between Democrats and Republicans. These shifts suggest that recent high-profile events have made the perception of political violence more evenly distributed across the political spectrum.

Wells Fargo Boosts CoreWeave Target on AI Deals
Tech

Wells Fargo Boosts CoreWeave Target on AI Deals

Wells Fargo Securities has upgraded CoreWeave to 'overweight' and raised its 12-month price target to $135, anticipating significant future growth. The bank's positive outlook is based on CoreWeave's substantial deal flow with major AI companies, including OpenAI, Meta, and Perplexity. Analysts are particularly focused on receiving positive updates regarding deployment timelines and unit economics during the upcoming earnings report. The firm estimates the company's current backlog value to be over $90 billion. Overall, the analyst consensus remains strongly positive, with many recommending the stock purchase.

Jim Cramer's Top 10 Stocks to Watch This Wednesday
Markets

Jim Cramer's Top 10 Stocks to Watch This Wednesday

On Wednesday, market focus centers on major tech earnings reports from Alphabet, Amazon, Meta, and Microsoft, alongside commentary from the Federal Reserve. Investors are closely monitoring AI adoption, cloud growth, and consumer spending resilience. Strong performance was noted in sectors like data storage (Seagate) and payment processing (Visa), which reported robust quarterly results. Conversely, Robinhood faced a decline following weaker-than-expected earnings. Overall, the market is keenly observing how these tech leaders manage costs and capitalize on the ongoing AI boom.

OpenAI's Shadow: Impact on Tech Giants' Earnings
Tech

OpenAI's Shadow: Impact on Tech Giants' Earnings

Market attention is intensely focused on OpenAI ahead of quarterly earnings reports from tech giants Amazon, Alphabet, Meta, and Microsoft. OpenAI, valued over $850 billion, is viewed as a primary barometer for the AI industry's health. The company faces scrutiny over its financials and is embroiled in a high-profile legal battle between CEO Sam Altman and Elon Musk. Major partners like Amazon and Microsoft are deeply integrated, with AWS expanding its model offerings. Meanwhile, competitors like Alphabet and Meta are aggressively advancing their own AI models, though Meta faces scrutiny regarding its ability to drive scaled consumer adoption against market leaders.

Fed Decision, UAE Leaves OPEC, Starbucks Earnings Boost
Markets

Fed Decision, UAE Leaves OPEC, Starbucks Earnings Boost

Financial markets are tracking several major events, headlined by the Federal Reserve's monetary policy decision and Chair Powell's anticipated address. The UAE has announced its withdrawal from OPEC, raising questions about the cartel's future influence on oil prices. On the corporate front, Starbucks shares rose after the company reported beating second-quarter earnings expectations and increasing its full-year sales outlook. Additionally, JPMorgan CEO Jamie Dimon warned about potential bond market instability due to rising government debt, while the legal dispute between Elon Musk and OpenAI remains ongoing.

UAE Quits OPEC, Signaling Shift in Global Oil Supply
Markets

UAE Quits OPEC, Signaling Shift in Global Oil Supply

The United Arab Emirates (UAE) has announced its withdrawal from OPEC and OPEC+, citing national interests and a review of its production capacity. This move allows the UAE to operate outside the cartel's established output quotas, potentially increasing global supply by 1-2% of demand. Analysts note that the departure reduces OPEC's overall control over global supply from approximately 30% to 26%. While short-term price impacts are expected to be limited by geopolitical factors like the Strait of Hormuz, the decision signals a broader trend of Gulf nations prioritizing national economic autonomy over cartel agreements. The move is viewed as a significant recalibration of market power within the global oil sector.