Trump Ban on Wind Energy Projects Ruled Illegal by US Judge

The US Supreme Court is set to rule on the legality of tariffs imposed by President Donald Trump in April, which previously caused significant market fluctuations. This ruling could have substantial implications for various stocks that have experienced growth since the tariffs were enacted.

Oracle's shares fell 15% following the release of disappointing quarterly financial results, leading to a loss of approximately $80 billion in market value, dropping from $630 billion to $550 billion. This decline has raised concerns about a potential bubble in artificial intelligence-related stocks, particularly affecting companies like Nvidia, which is viewed as a key indicator of the AI sector's health.

American Airlines has canceled a popular route, offering refunds to affected customers, amid a decline in Canadian travel to the U.S. This trend follows a year of reduced cross-border trips, influenced by political rhetoric and economic factors.

Paramount Skydance has launched a $108.4 billion hostile bid for Warner Bros Discovery, intensifying the competition in the media landscape, particularly against Netflix, which previously proposed an acquisition valued at approximately $72 billion. Jared Kushner's involvement in financing this bid highlights the intersection of business and politics, especially given his ties to the Trump administration.

The US Federal Reserve has reduced its benchmark interest rate by 25 basis points, responding to persistent inflation and slowing job growth amid a lack of government data due to a shutdown. This marks a significant monetary policy shift as the Fed navigates economic uncertainties.

Ukrainian President Volodymyr Zelenskyy engaged in discussions with key figures including Bessent, Kushner, and Fink regarding a postwar reconstruction plan for Ukraine. These talks come amid ongoing efforts to address the ramifications of the Russian invasion and the need for a comprehensive recovery strategy.

At the DealBook Summit, panelists criticized President Trump's foreign policy decisions, particularly regarding Ukraine, Venezuela, and China, highlighting a significant shift in global alliances and practices. The task force, titled 'The Global Reorder,' included notable figures such as Samantha Power and David H. Petraeus.