US political and economic developments remained in focus on Thursday, as President Donald Trump held his eighth Cabinet meeting amid a prolonged government shutdown, while US financial markets reacted to both tech sector news and broader economic concerns.
Trump’s cabinet meeting addresses trade, agriculture, and national guard deployments
President Donald Trump convened his eighth Cabinet meeting on Thursday, touching on US-China trade, agricultural policy, National Guard deployments, and spending priorities amid the government shutdown.
Trump indicated plans to discuss soybean sales with Chinese President Xi Jinping, noting China has yet to purchase US soybeans during the main harvest season.
Treasury Secretary Scott Bessent confirmed the topic would be addressed at the upcoming Asia-Pacific Economic Cooperation summit.
During the session, Trump also made controversial comments linking vaccines and Tylenol to autism, a claim debunked by health authorities.
Health and Human Services Secretary Robert F. Kennedy Jr. echoed concerns about Tylenol use in pregnancy.
On fiscal matters, Trump reiterated plans to make permanent cuts to “Democrat programs” without specifying which programs.
Homeland Security Secretary Kristi Noem said her department is purchasing buildings in Chicago and Portland to expand immigration enforcement operations, despite local opposition.
Government shutdown continues as senate rejects stopgap funding bill
The US government shutdown entered its ninth day as the Senate failed for the seventh time to advance a short-term funding measure, with a 54–45 vote rejecting the proposal.
Three Democrats joined Republicans in favor, while one Republican opposed the bill.
Democrats continue to insist that any funding resolution must extend Affordable Care Act subsidies, a stance reiterated by Senate Minority Leader Chuck Schumer.
The House of Representatives, meanwhile, remains largely inactive.
Speaker Mike Johnson and Majority Leader Steve Scalise have not committed to bringing the chamber back into session, citing a “48-hour notice” window.
Republican Representative Kevin Kiley criticized delays, stating that the need for a continuing resolution reflects Congress’s failure to pass a timely budget.
Nvidia stock climbs on AI demand and US export approvals
Shares of Nvidia (NASDAQ: NVDA) rose 1.79% on Thursday, fueled by strong demand for AI chips and recent US export approvals for shipments to the UAE.
Investors are optimistic about the company’s growth, supported by CEO Jensen Huang’s comments on AI-driven computing needs and TSMC’s 30% revenue increase in Q3, signaling solid supply chain performance.
The Nasdaq and S&P 500 remained relatively stable, reflecting cautious optimism in the broader market.
Tesla faces NHTSA probe, stock dips amid ongoing AI and FSD expansion
Tesla (NASDAQ: TSLA) shares fell 0.72% to $435.54 after the National Highway Traffic Safety Administration (NHTSA) opened a preliminary investigation into the Full Self-Driving (FSD) system.
The probe covers reports of 58 traffic incidents, including red light violations and wrong-way driving, affecting approximately 2.9 million vehicles.
Tesla’s FSD and AI-driven expansion continue, including its robo-taxi service in Austin, Texas, launched in June, with shares still up roughly 36% since the launch.
US markets see mixed moves amid tech gains and shutdown uncertainty
Major US stock indices pulled back from recent highs as uncertainty over the government shutdown weighed on sentiment.
The S&P 500 declined 0.28%, the Nasdaq slipped 0.08%, and the Dow Jones Industrial Average fell 243 points, or 0.52%.
Despite broader market caution, tech and AI-driven companies, including Nvidia, provided some support, offsetting larger losses across other sectors.
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