Through Trial and Error, Iran Found Gaps in Israel's Storied Air Defenses
While most of Iran's missiles and drones were knocked down, Tehran changed tactics and found gaps in Israel's armor through trial and error.
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Business Insider
26 minutes ago
- Business Insider
The Trump Trade has changed. Here are the 6 big themes for investors to watch.
Investors in the early days of Donald Trump's second term thought they had identified the clearest winners from the president's agenda, but more than halfway through his first year in office, the playbook has shifted. Analysts at Ned Davis Research this week said they recently revised their Trump Trade Index — an index of investment themes they believe will benefit from Trump's agenda. The firm's original Trump Trade Index included investment themes like space and reshoring, as well as bitcoin and Trump Media & Technology Group, the parent company of Trump's social media network. "When we created our initial Trump Trade index prior to the 2024 election, we had only a general idea of Trump's agenda and key themes impacted," strategists wrote in a report on Wednesday. "However, after reviewing 170 executive orders, the One Big Beautiful Bill Act (OBBBA), and an ever-changing foray into tariffs, we have a much better indication of agenda priorities." Markets have been surprised by how Trump's policy agenda has shifted so far this year. US stocks soared after Trump secured his second term in office, before embarking on a wild roller coaster ride as Trump announced his worldwide tariff package and negotiations dragged into this summer. Trump-era playbook. Defense Thesis: Trump signed a slew of executive orders supporting aerospace innovation and the drone, cybersecurity, and shipbuilding industries in the US. The GOP tax and spending bill has also earmarked around $150 billion for overall defense spending, $29 billion to shipbuilding, and $170 billion for border enforcement. The bill also has a $24 billion budget to help build the Golden Dome, an ambitious defense system that aims to put American anti-missile weapons into space. Factors like China's military advancement and the ongoing conflict between Russia and Ukraine also raise the risk that the US could become more involved in geopolitical conflict, strategists suggested. "While several themes look overbought, some are sure to have staying power over Trump's term. Unfortunately, we believe Defense could have staying power," the report said. Metals & Mining Thesis: Trump has also signed executive orders supporting the copper and rare minerals industry in the US. Meanwhile, the Big Beautiful bill includes tax incentives that support energy exploration in the US, which could also boost the metals and mining industries. The president has also proposed steep tariffs on key commodities, like steel, copper, and aluminum. The metals and mining theme was on display already in the last week, when the Department of Defense announced a large stake in rare earth miner MP Materials. The stock surged on the news that the Pentagon would become the company's largest shareholder as it tries to strengthen America's position in a critical supply chain. Traditional, Nuclear, and Hydrogen Energy Associated Press Thesis: Energy was a cornerstone of Trump's campaign, and the president quickly declared a National Energy Emergency at the start of his term. "While Biden's agenda promoted Clean Energy, Trump clearly favors Traditional Energy, evidenced by orders to tap Alaska resources, remove production barriers, and promote Coal," strategists wrote. Uranium and Hydrogen energy are also in focus, the strategists added, pointing to "massive datacenter electricity demands." Trump has also proposed various tariffs that could raise energy prices, like tariffs on Canadian and Venezuelan energy, a 7.5% tariff on Uranium, and a 10% tariff on hydrogen-related goods. Bitcoin & Digital AssetsThesis: Trump, who branded himself as the "crypto president" on the campaign trail, has made a series of pushes into digital assets this year. Early in his second term, he signed an executive order that aimed to support the US's dominance in digital finance, and another that established a strategic bitcoin reserve. Lawmakers are also set to pass a slew of new crypto-related legislation this week, like the Senate's landmark stablecoin bill, the CLARITY Act, and the Anti-CBDC Surveillance State Act. Artificial Intelligence Thesis: Trump's executive orders and a handful of provisions in the One Big Beautiful Bill Act are aimed at bolstering AI development in the US, The GOP tax and spending bill includes a $250 million budget for AI-driven cyber defense, as well as tax incentives for chipmakers to build their tech in the US. Trump also announced a $500 billion AI infrastructure project in January, which involves Softbank, OpenAI, and Oracle building more data centers in the US. This week, Trump announced another $90 billion in AI and energy investments at an event in Pennsylvania.
New York Times
26 minutes ago
- New York Times
Smell of Death Lingers in Syrian City After Spasm of Violence
After five days of hunkering down at his home in the southern city of Sweida, 33-year-old Hossam emerged on Thursday and drove around to survey the damage. Wherever he went, the smell of death lingered. Everywhere he looked, he said, he saw burned-out cars littering the streets. Storefront windows were smashed, their shelves looted. Pools of blood stained the streets. 'The smell of corpses in Sweida is unbearable,' said Hossam, who asked to be identified by his first name for fear of retribution. 'The smell is everywhere.' Since Sunday, the southern province of Sweida in Syria has been consumed by violence that has killed more than 500 people, according to the Britain-based war-monitoring group Syrian Observatory for Human Rights. What Hossam described was the aftermath of the worst sectarian violence to seize this corner of Syria since the height of the country's civil war. He said he had barricaded himself inside as clashes between government forces and militias of the Druse minority raged around him. Hossam, who is Druse, ventured outside after a truce calmed the fighting and drove around his city, surveying the damage. At Sweida's public hospital, he saw cars speed up to the emergency entrance every few minutes, carrying people injured in the clashes. Others came in search of relatives they had lost contact with, now feared dead, he said. Want all of The Times? Subscribe.
The Hill
an hour ago
- The Hill
Democrats press discharge petition to restore federal worker union rights stripped by Trump
House Democrats are pressing this week to restore union rights to hundreds of thousands of federal employees who lost their collective bargaining powers under an executive order signed by President Trump earlier in the year. The Democrats are urging lawmakers in both parties to endorse a procedural gambit, known as a discharge petition, to force a vote on bipartisan legislation that would repeal Trump's order and return negotiating rights to those workers. 'This country needs stronger unions, not weaker ones,' Rep. Jared Golden (D-Maine), the sponsor of the legislation, told reporters in the Capitol. 'We know if this bill comes to the House floor, we can win. 'Let's just have a vote.' Golden is also the sponsor of the discharge petition aiming to compel a vote on his bill, even against the wishes of GOP leaders who have refused to consider it. The fight is bipartisan. Golden's proposal has been endorsed by 221 other House lawmakers, including co-sponsor Rep. Brian Fitzpatrick (R-Pa.) and six other Republicans. And the discharge petition already has two GOP signatures attached: Fitzpatrick and Rep. Don Bacon (R-Neb.). To force a vote on the bill requires 218 signatures, meaning supporters will need four more Republicans to endorse the petition for it to be successful, assuming all 212 House Democrats sign on. Golden said he's in conversations with the other Republican co-sponsors of the underlying bill — singling out New York Reps. Mike Lawler and Nick LaLota by name — in hopes of getting them to endorse the petition, as well. 'I'm pretty hopeful that they'll get there,' Golden said. House Minority Leader Hakeem Jeffries (D-N.Y.) is joining the push, decrying Trump's move as an 'unprecedented assault' on organized labor and challenging Republicans — who say they are now the party of the working class — to sign onto the petition. 'The Speaker of the House has often said that the House should be able to work its will,' Jeffries said. 'We agree.' In March, Trump issued an executive order prohibiting collecting bargaining for hundreds of thousands of federal employees across 18 federal agencies, including the departments of State, Defense, Homeland Security and Health and Human Services. In a fact sheet accompanying the announcement, the White House said certain unions 'have declared war on President Trump's agenda' and the change was necessary to protect national security. 'President Trump is taking action to ensure that agencies vital to national security can execute their missions without delay and protect the American people,' the fact sheet reads. 'The President needs a responsive and accountable civil service to protect our national security.' Critics of the executive order have rejected the White House claim out of hand, noting that many of the affected federal employees work in industries that directly bolster the Armed Services and border security. 'They claim it endangers national security. That's outrageous, and it's just plain wrong,' said Matt Biggs, the head of the International Federation of Professional and Technical Engineers. 'What that executive order does — actually, it's contrary, we're living in a kind of Orwellian country right now. It's actually going to hurt national security.'
