Trump disputes assessment of U.S. strikes on Iran nuclear sites
President Trump disputed an assessment from the International Atomic Energy Agency, which said the recent U.S. strikes on Iran nuclear facilities damaged them, rather than the president's claim that they were destroyed. It comes as the president also pushes Senate Republicans to pass his spending bill. NBC News' Vaughn Hillyard reports from the White House.
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Daily Mail
19 minutes ago
- Daily Mail
MSNBC host erupts on air over SCOTUS birthright citizenship ruling
MSNBC host Symone Sanders Townsend gave an unhinged reaction to the Supreme Court's birthright citizenship decision handed down on Friday. Sanders is a Co-Host of MSNBC's The Weeknight, and a Former Chief Spokesperson for Vice President Harris - and wasted no time calling the ruling 'insane.' She slammed her hands on the table during the heated discussion - shaking her arms in the air and rolling her head as she kicked off over the SCOTUS decision. 'I just don't, I can't believe that we are asking the question, 'is the 14th Amendment to the Constitution constitutional?' That is what, it is crazy. And I am sorry, but people need to call, 'this is crazy,' Sanders Townsend stated on air. 'They are asking us… They're asking us not to believe our own eyes and our own ears. They're asking us to go against everything that we know to be true. This is insane,' Sanders Townsend added. Another one of her co-hosts, former Republican National Committee Chairman Michael Steele, responded to Sanders Townsend, noting that 'Trump and and his minions inside the government been very effective at setting to stair steps to the various narratives that they want to get accomplished.' The court ruled 6-3 Friday in favor of Trump to end the practice of stalling his Executive Orders and agenda. The ruling allows Trump's executive order halting birthright citizenship for children of undocumented immigrants to take effect in states and jurisdictions that did not directly challenge his action in court. It could mean citizenship rules vary from state to state, pending ongoing litigation. While all six conservative justices - including the three he appointed - sided with the president, three people dissented the historic ruling. When the decision was made Friday, a fiery dispute broke out between two of America's most powerful judges. The justices' secret personal feuds have seemingly become so fraught that they are counting down the days until the SCOTUS summer recess - which will be a welcome respite from both work and colleagues, according to Chief Justice John Roberts. This week, the court's liberal wing erupted in spectacular fashion against the six-judge conservative alliance during the biggest ruling of the year thus far. Trump appointee Justice Amy Coney Barrett (pictured), 53, ripped into liberal dissenter Justice Ketanji Brown Jackson's arguments in her 6-3 majority opinion in a major birthright citizenship case. Writing for the conservative majority of the court, Barrett hit back at both Jackson and fellow Justice Sonia Sotomayor who dissented. Barrett's scorched earth reply took aim at Jackson mostly, spending 900 words to repeatedly rip into the Biden appointee and the court's most junior member. Jackson went on to describe the decision as an 'existential threat to the rule of law.' Speaking at the White House after his victory, Trump said: 'This was a big one. Amazing decision, one we're very happy about. This really brings back the Constitution. This is what it's all about.' Basking in his victory during an impromptu appearance in the White House briefing room, the president vowed to push through 'many' more of his policies after the court win, including curbs to birthright citizenship. The president said he would 'promptly file' to advance policies that have previously been blocked by judges. Attorney General Pam Bondi (pictured) said the ruling meant 'not one district court judge can think they're an emperor over this administration and his executive powers, and why the people of the United States elected him.'
Reuters
27 minutes ago
- Reuters
Morning Bid: The euro's big beautiful moment
LONDON, June 30 (Reuters) - What matters in U.S. and global markets today Investors are keeping a wary eye on the progress of President Donald Trump's "One Big Beautiful" U.S. tax-cutting and spending bill that is slowly making its way through the Senate, with signs it may not make it by Trump's preferred July 4 deadline. Meanwhile, over on Wall Street, futures on the S&P 500 suggest another record high might be in the offing later on. Mike Dolan is enjoying some well-deserved time off over the next two weeks, but the Reuters markets team is here to provide you with all the information you need to start your day. Today's Market Minute * Canada scrapped its digital services tax targeting U.S. technology firms late on Sunday, just hours before it was due to take effect, in a bid to advance stalled trade negotiations with the United States. * The trade deal signed between U.S. President Donald Trump and British Prime Minister Keir Starmer lowering some tariffs on imports from Britain has come into effect, the British government said on Monday. * A million-dollar question will hang over the world's top central bankers when they meet in Sintra, Portugal, from Monday evening: Is the monetary system centred on the U.S. currency beginning to unravel? * The war between Israel and Iran offered a real-time look at some new global cross-asset dynamics that can help investors understand the state of play in the first half of 2025 and what they can expect in the next six months. TPW Advisory founder Jay Pelosky details three key takeaways from the conflict. * Plus, ROI energy columnist Ron Bousso explains why Egypt was one of the biggest economic losers of the Middle East's 12-day war. The euro's big beautiful moment The euro is heading for a ninth straight day of gains versus the dollar, something it has only achieved three times since its inception in 1999. Another daily rise and we're in record territory. In 2025's "everyone hates the dollar" trading environment, the euro, and European assets in general, have to be real magnets for investor cash. The euro itself has gained nearly 14% against the dollar so far this year, while its performance against other currencies has been far less eye-popping. It has risen around 3.5% against both the pound and the Japanese yen and has barely broken even against the Swiss franc and Norwegian crown. Confidence in the United States as an investment destination - not just in markets, but for businesses too - has not vanished, but has taken a serious knock from the erratic and unpredictable policies of the Trump administration. This would not be obvious when looking through the lens of the stock market, given the S&P 500 is at record highs, in dollar terms at least. When priced in other currencies, it is a long way off. Europe's STOXX 600 has risen 7% so far this year, compared with the S&P's 5% rise. On an equal-weighted basis, the divergence is even more marked. Wall Street's Magnificent 7 are back in vogue, but not quite riding to the rescue. The equal-weighted S&P is up 3.3% versus a near-10% gain in the STOXX equivalent. That said, in spite of the chaos from Trump's on-again off-again tariffs, the heightened uncertainty stemming from the Middle East and the deficit-busting "One Big Beautiful Bill" that is up for debate in the Senate right now, investors aren't exactly ditching U.S. assets en masse. "Anywhere But The USA" may sound catchy as an investment theme, but it has taken more than that to lure capital into Europe. European governments, spearheaded by Germany, have pledged to unleash a one trillion euro ($1.17 trillion) spending bazooka, much of which will be concentrated on defence and infrastructure, as they attempt to address years of riding on the coattails of Washington for security, and of shortfalls in spending on basics at home. The July 9 deadline for a trade deal is less than two weeks away - and with Trump saying he will impose 50% tariffs on all EU goods without a deal - investors are moving their money. Data from LSEG's Lipper Funds show that more than $100 billion has flowed into European equity funds so far this year - up threefold from the same period last year - while outflows from the U.S. more than doubled to nearly $87 billion. "All that is an indication that at least market forces, investors, those who move real money around, actually see value and have confidence in Europe," European Central Bank President Christine Lagarde said earlier this month. She said now is the time for Europe to take its destiny into its own hands, and that this is the euro's "moment". Chart of the day With the U.S. Independence Day holiday on Friday, the June employment report lands on Thursday. A Reuters poll shows economists expect to see a rise of 129,000, slightly below May's 139,000 increase. Evidence of the impact on the economy from Trump's tariffs and their potentially inflationary effect, along with the mass layoffs among government employees and the likelihood of big cuts to a raft of welfare benefits is starting to materialise in other data points. So far, the monthly non-farm payrolls report has not been one of them. May's number marked the fifth upside surprise in the past 12 months, and the ninth reading below the 200,000 mark over the past year. Layoffs are historically low, but hiring is not exactly booming. The most recent weekly jobless claims numbers showed the number of Americans filing new applications for jobless benefits fell, but work opportunities are becoming scarce as businesses are reluctant to hire while things such as import tariffs are in flux. Today's events to watch * Federal Reserve Chair Jerome Powell speaks at the European Central Bank Forum on Central Banking 2025 in Sintra, Portugal * Federal Reserve Bank of Atlanta President Raphael Bostic speaks on the economic outlook and monetary policy in London * Federal Reserve Bank of Chicago President Austan Goolsbee speaks at the Aspen Ideas Festival 2025 * June Chicago PMI * Three- and six-month Treasury bill auctions Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, opens new tab, is committed to integrity, independence, and freedom from bias. Want to receive the Morning Bid in your inbox every weekday morning? Sign up for the newsletter here. ($1 = 0.8533 euros)
Reuters
33 minutes ago
- Reuters
S&P 500, Nasdaq futures climb to record highs on trade optimism
June 30 (Reuters) - Futures tracking the S&P 500 and Nasdaq touched record highs on Monday, as optimism over U.S. trade negotiations with its key partners helped support upward momentum in markets. Shares of technology heavyweights rose premarket after Canada scrapped its digital services tax targeting U.S. tech firms, just hours before it was due to take effect, in a bid to advance stalled trade negotiations with the United States. Shares of Amazon (AMZN.O), opens new tab, Meta Platforms (META.O), opens new tab, Alphabet (GOOGL.O), opens new tab and Apple (AAPL.O), opens new tab edged up in the range of 0.6% and 1.7%. The benchmark S&P 500 (.SPX), opens new tab and the tech-heavy Nasdaq Composite (.IXIC), opens new tab rose to all-time highs on Friday, as bets of deeper U.S. interest rate cuts and renewed optimism around AI helped markets rebound from the months-long tumult sparked by U.S. President Donald Trump's tariff policies and geopolitical tensions. Focus now shifts to a July 9 deadline for countries to reach deals with the United States or see tariffs spike higher, but Trump has said he could extend the tariff deadline or "make it shorter". Investors are also looking into economic data and fiscal policy developments to see if the latest bull run in U.S. stocks can continue. U.S. Senate Republicans pushed President Donald Trump's sweeping tax cut and spending bill forward in a marathon weekend session. Senators are scheduled to start voting on a potentially long list of amendments to the bill beginning at 9 a.m. EDT (1400 GMT) Monday. Key economic data releases this week include monthly non-farm payrolls and the Institute for Supply Management's survey on manufacturing and services sectors for June. Several U.S. central bank officials including Federal Reserve Chair Jerome Powell are scheduled to speak later this week. A raft of soft economic data and expectations that Trump will replace Powell with someone dovish have pushed up bets of rate cuts from the Fed this year. By 5:48 a.m. ET (0948 GMT), S&P 500 e-minis were up 24.5 points, or 0.39%. Nasdaq 100 e-minis climbed 137 points, or 0.6% and Dow e-minis added 205 points, or 0.46%. Despite record highs for U.S. stocks, the S&P 500, Nasdaq and Dow are set for their weakest first-half performances since 2022. Among other movers, shares of big U.S. banks rose after the Federal Reserve's annual "stress test" found twenty-two of the largest U.S. banks are well-positioned to weather a hypothetical severe economic downturn and continue lending. The optimistic showing could lead to banks upping how much excess capital they plan to distribute to shareholders via dividends or stock buybacks. Shares of JPMorgan Chase (JPM.N), opens new tab, Bank of America (BAC.N), opens new tab, Citigroup (C.N), opens new tab and Wells Fargo (WFC.N), opens new tab rose in the range of 0.4% and 1.9%. Juniper Networks (JNPR.N), opens new tab rose 8.4% after the U.S. Justice Department settled its lawsuit challenging server maker Hewlett Packard Enterprise's (HPE.N), opens new tab all-cash acquisition of the networking gear maker for $14 billion. Hewlett Packard Enterprise shares rose 5.6%.
