Are Government Services Underfunded?

Trump-Xi Summit Cheat Sheet: New Deals, Extended Trade Truce, But No Breakthrough? The White House released an itinerary for next week's Trump-Xi meeting, including plans for Trump to greet Chinese President Xi Jinping at Joint Base Andrews. Ahead of the summit, Bank of America analysts outlined modest expectations, telling clients they see "little scope for a major trade breakthrough." Bloomberg reports that Trump will welcome Xi at Joint Base Andrews on Wednesday, opening a visit that includes bilateral talks and a White House state dinner on Thursday. Trump and Xi will be...

Feds Launch Probe Into California's Elections Days after California’s primary election, the votes are still being counted, and the winners are still unknown, and no one, save for California officials, seems happy about it. “The fact that California elections often can't be resolved for weeks is kind of insane and not common in other electoral systems around the world," Political data analyst Nate Silver wrote on X on Tuesday. "Like honestly 'it's going to take us several weeks to tell you who won the election' is failed state sh-t and should...

Futures Rise As Oil Prices Drop Ahead Of CPI Report Futures are higher thanks to an overnight retreat in oil prices (which is unlikely to hold now that Houthi rebels effectively control the entire Red Sea) and bond yields which track oil tick for tick, but the tone could quickly shift with the week’s biggest catalyst, August CPI data, due before the cash open. As of 8:00am ET, S&P and Nasdaq futures gain 0.6% with Mag 7 stocks are mostly higher, led by AMZN (+0.6%) and META (+0.7%). In premarket trading, ORCL...