US non-profits ‘lock arms’ amid Trump’s menacing of George Soros: ‘We will not be intimidated’

US Treasury Secretary Scott Bessent is set to meet with China's Vice Premier He Lifeng next week in Malaysia, highlighting ongoing diplomatic efforts between the two nations. This meeting is significant as it reflects a willingness to engage in dialogue and address economic concerns, which could lead to improved relations and cooperation on global issues.

President Donald Trump has expressed optimism about ongoing negotiations with China, indicating that a meeting with President Xi Jinping is likely to proceed. This development is significant as it suggests a potential thaw in US-China relations, which could have positive implications for global trade and diplomacy. Trump's comments were made during a lunch with Ukrainian President Volodymyr Zelenskiy at the White House, highlighting the interconnected nature of international relations.

Soybean futures have seen a rise following President Donald Trump's recent comments suggesting that high tariffs on China may not be feasible. This has ignited optimism about a potential trade deal between the US and China, which could significantly boost demand for American soybeans. The implications of this development are substantial, as a trade agreement could stabilize the agricultural market and benefit farmers across the nation.

US stocks have shown resilience as investors remain optimistic, even in the face of recent banking concerns. The market's recovery was bolstered by Donald Trump's comments suggesting that proposed heightened tariffs on Chinese imports might not be permanent. This development is significant as it reflects investor confidence and a potential easing of trade tensions, which could lead to a more stable economic environment.

President Donald Trump has expressed that the high threatened tariffs on China are not sustainable, especially as tensions rise ahead of a crucial meeting with Chinese leader Xi Jinping. This statement highlights the complexities of U.S.-China trade relations and the challenges both nations face in negotiating a resolution. Understanding these dynamics is essential as they can significantly impact global markets and economic stability.

The stock market is feeling the pressure as US banks report deeper losses, raising concerns about their credit health. This has led traders to play it safe, moving towards bonds and stable currencies. Additionally, European defense stocks are taking a hit following President Trump's announcement of a second meeting with Vladimir Putin to discuss the ongoing war in Ukraine. This situation is significant as it reflects the growing uncertainty in the financial markets and the geopolitical landscape, impacting investor confidence.

The European Union has proposed purchasing US weapons for Ukraine using assets frozen from Russia, a move that could strengthen support for Ukraine while keeping Donald Trump aligned with Kyiv amid a potential thaw in US-Russia relations. This initiative not only aims to bolster Ukraine's defense but also highlights the EU's commitment to supporting its allies in the face of geopolitical challenges.

President Donald Trump announced that the price of the diabetes medication Ozempic is expected to drop significantly, potentially to $150 a month. This news has negatively impacted the stock prices of major pharmaceutical companies Novo Nordisk and Eli Lilly. The announcement highlights ongoing discussions about drug pricing in the U.S. and could lead to increased competition in the diabetes treatment market, affecting both patients and investors.

A US court has ordered the spyware company NSO to cease its targeting of WhatsApp, a significant ruling that underscores the growing scrutiny on surveillance technologies. This decision is important as it aims to protect user privacy and sets a precedent for how courts may handle similar cases in the future.

Kering is reportedly close to finalizing a $4 billion sale of its beauty unit to L’Oreal, according to the Wall Street Journal. This deal is significant as it marks a strategic shift for Kering, allowing the luxury goods company to focus more on its core fashion brands while L’Oreal expands its portfolio in the beauty sector. Such a transaction could reshape the competitive landscape in the beauty industry, highlighting the ongoing trend of consolidation among major players.

Nvidia is making waves in the AI sector with its Vera Rubin project, potentially sparking another surge in artificial intelligence advancements. The company has transformed from a traditional tech player to a market leader, boasting a market cap exceeding $4 trillion. This growth not only highlights Nvidia's pivotal role in the tech industry but also positions it as a key driver of the S&P 500, influencing broader market trends. As AI continues to evolve, Nvidia's innovations could shape the future of technology and investment.

Paramount and Skydance are set to cut 2,000 jobs in the U.S. starting the week of October 27, as reported by Variety. This significant reduction in workforce highlights the ongoing challenges faced by the entertainment industry, particularly in the wake of economic pressures and changing consumer behaviors. The layoffs not only impact the employees directly affected but also signal broader trends in the industry that could affect future productions and job stability.

In a candid admission, Stephen Moore, a former economic advisor to Trump, has expressed concerns about the negative impact of tariffs on economic growth and consumer prices. Speaking to Fortune, he highlighted that tariffs essentially act as taxes, which he believes are detrimental to the economy. Moore also voiced apprehension over Trump's recent comments regarding price controls on essential goods like drugs and beef, suggesting that such interventions could further complicate economic stability. This matters because it reflects a growing unease among even Trump's allies about the long-term effects of his economic policies.

The seafood industry is facing significant challenges, with many chains, including Red Lobster, struggling to stay afloat. Rising costs of key ingredients like shrimp and lobster, combined with a decline in consumer interest, have led to a series of restaurant closures, leaving only 18 locations operational. This situation highlights the broader issues within the industry, as affordable seafood becomes increasingly difficult to provide, impacting both businesses and consumers.