logo
Musk's takeover of US health agencies raises pandemic threat, experts warn

Musk's takeover of US health agencies raises pandemic threat, experts warn

Yahoo15-02-2025
The 'department of government efficiency', the Donald Trump-created program known as Doge and headed by the billionaire Elon Musk, has accessed or requested access to sensitive systems at multiple health agencies as the US president attempts to grant the committee sweeping powers within the federal government.
The bid for access comes amid an unprecedented effort to halt government spending, despite multiple court orders to unfreeze funds and reverse staff suspensions.
Thousands of people were laid off from health agencies on Friday after the Trump administration announced a plan to fire nearly all probationary employees, potentially numbering in the hundreds of thousands across the federal service.
'The potential for doing harm is significant,' said Scott Cory, former chief information officer for an agency within the US Department of Health and Human Services (HHS).
Related: Trump disrupting US bird flu response as outbreak worsens
Health agencies maintain tightly controlled databases with sensitive information, and upheaval at these agencies threatens the US healthcare systemeven as the threat of infectious diseases like bird flu continues to ramp up.
'The possibility of new outbreaks or public health events is certain given the recent concerning spread of bird flu, which is still hampered by a slow response,' said an employee at the US Centers for Disease Control and Prevention (CDC) who requested anonymity because they were not authorized to speak on the record.
'With external communications cut off, extensive work-stop orders and dramatic changes in the federal workforce, the ability of any health agency is severely limited and ultimately will serve no one but those who choose to profit off the suffering,' the employee said.
Trump attempted to give Doge the power to shrink the federal workforce in a new executive order signed on Tuesday, despite lawsuits from unions over Doge access.
Some 5,200 people across health agencies reportedly received layoffs notices on Friday.
About 1,250 of them worked at the CDC, according to a source who requested anonymity because they were not authorized to speak publicly.
This included senior officials and the entire first-year class of the CDC's Epidemic Intelligence Services officers, known as 'disease detectives'.
Other senior health officials are also being targeted for layoffs, and employees are bracing for more mass layoffs in coming days, sources say. Several contractors also report being laid off this week.
Probationary employees include any staff who haven't served the full time (usually a year or two) needed to gain civil service protection in their positions – and this also applies to senior officials who have recently changed positions.
Staff at some health agencies, including HHS and CDC, report being instructed not to talk about Doge in internal emails and messages, for fear of attracting attention through Freedom of Information Act (Foia) requests or searches from those who have gained access to these systems.
'In my whole time in the federal government, I've never seen this,' said the CDC employee. 'It's just a complete upheaval.'
Representatives of Doge gained access to the Atlanta offices of the CDC last week, according to sources who requested anonymity because they were not authorized to speak.
Doge-affiliated officials have also gained access to payment and contracting systems at the Centers for Medicare and Medicaid Services (CMS), according to reporting from the Wall Street Journal.
Musk, the unpaid 'special government employee' heading up Doge, appeared to confirm the CMS access and the search for potential fraud in Medicare payment systems: 'Yeah, this is where the big money fraud is happening,' he alleged on X on 5 February.
Medicare fraud has long been a focus of careful investigation, with 193 medical professionals arrested in June under the Biden administration on charges related to $2.75bn in suspected healthcare fraud.
But stopping payments already authorized by Congress, as the Trump administration has already done with foreign assistance and federal grants and loans, is an unprecedented move.
Doge representatives have also sought access to the HHS payment systems that process billions of dollars in healthcare funding, and seem to have gained access to at least some of them, the Washington Post reports.
The HHS did not respond to the Guardian's media inquiry by press time.
One of the requested systems, the Healthcare Integrated General Ledger Accounting System, contains financial information about all of the hospitals, doctors and other health organizations participating in federal programs like Medicare, Medicaid and the Affordable Care Act.
It requires training on the Health Insurance Portability and Accountability Act (HIPAA) in order to access; it's not clear if Doge representatives have undergone this training.
Doge officials have reportedly gained extensive access at the treasury department as well.
Musk's 'unclear role' in a committee that has not been approved by Congress 'has been a loud signal by this administration that the legal rulebook that the federal government operates by no longer applies', the CDC employee said.
'Musk's aggressive takeover of many sensitive data systems, including those in CMS and treasury, should concern everyone,' the employee continued. 'Having access to all this data is not only a security risk but the abusive potential of having such data is incomprehensible.'
Armed with these systems and data, the Trump administration could dismantle healthcare support for Americans and punish states or entities refusing to align with the administration's priorities, the employee said.
Interference in the systems that health agencies use to process payments could threaten the lives of people who depend on the funds, Cory said.
There are privacy concerns as well.
'There's a whole lot' of sensitive data running through these systems into individuals' bank accounts, including personally identifiable information about individuals who are recipients of government benefits, like social security, Cory said.
While the information is not usually stored in payment systems, 'you can go backwards from that system, presumably, to the system that holds and maintains that information', Cory said. 'And that's where this gets scary.'
No one individual should have access to entire systems like these, Cory said. Even small changes are a big deal, and need to be tested extensively before being deployed.
Yet the legal repercussions to unlawful access and activities in federal systems are limited, he said.
'The constraints on bad actors who are in there, inside the system, doing bad things, are relatively few,' Cory said.
The data collected by agencies plays a crucial role in keeping Americans safe – particularly in ongoing outbreaks like bird flu, Cory said: 'If it's not possible to report that data and disseminate that data, then we're all at risk.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Europe Welcomes US Trade Fight Pause Despite Critic Warnings
Europe Welcomes US Trade Fight Pause Despite Critic Warnings

Yahoo

time12 minutes ago

  • Yahoo

Europe Welcomes US Trade Fight Pause Despite Critic Warnings

(Bloomberg) -- European capitals defended the trade deal struck with President Donald Trump, which will see the European Union accept a 15% tariff on most of its exports to the US while reducing levies on some American products to zero. The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Budapest's Most Historic Site Gets a Controversial Rebuild Trump Administration Sues NYC Over Sanctuary City Policy European Commission President Ursula von der Leyen, who met with Trump in his golf club in Turnberry, Scotland, on Sunday, hailed the agreement for the stability and predictability it will offer businesses and consumers. The EU knew that the deal would favor the US, but von der Leyen urged reporters to 'not forget where we came from,' referencing tariff rates Trump threatened that were as high as 50%. Subscribe to the Bloomberg Daybreak Podcast on Apple, Spotify and other Podcast Platforms. The lower rate came as a relief to member states that are dependent on exports, especially Germany, which exported $34.9 billion of new cars and auto parts to the US in 2024. 'The agreement has succeeded in averting a trade conflict that would have hit the export-oriented German economy hard,' German Chancellor Friedrich Merz said in a statement late Sunday. 'This has enabled us to safeguard our core interests, even if I would have liked to have seen further easing in transatlantic trade.' Without a deal, Bloomberg Economics estimated that the total US average effective tariff rate would rise to nearly 18% on Aug. 1 from 13.5% under current policies. The new deal brings that number down to 16%. Prior to Trump's latest trade fight, the EU estimated the average tariff rate to be about 1% on both sides. The pact removes a major risk for markets and the global economy, given the transatlantic partners did €1.7 trillion ($2 trillion) worth of cross-border commerce in 2024. European stocks and US equity futures climbed on Monday with the Stoxx 600 index gaining 0.7%. Industry officials in Germany, however, warned that the deal leaves the auto industry exposed and will make companies in Europe less competitive. 'The agreement is an inadequate compromise and sends a disastrous signal to the closely intertwined economies on both sides of the Atlantic,' said Wolfgang Niedermark, a member of the executive board of Germany's BDI industry federation. 'The EU is accepting painful tariffs. Even a 15% tariff will have immense negative consequences for Germany's export-oriented industry.' France, which took a more hawkish approach to the negotiations, highlighted the stability the agreement would bring, but also recommended triggering the EU's anti-coercion instrument, which would initiate a massive retaliation against the US, hitting American technology companies and blocking US firms from public procurement projects in Europe. 'Let's be clear: the current situation is not satisfactory and cannot be sustainable,' French Minister for European Affairs Benjamin Haddad said in a social media post. 'The free trade that has brought shared prosperity to both sides of the Atlantic since the end of the Second World War is now rejected by the United States, which is choosing economic coercion and complete disregard for WTO rules.' Dutch Minister for Foreign Trade Hanneke Boerma said the deal was 'not ideal' and called on the commission to continue negotiations with the US. Hungarian Prime Minister Viktor Orban, who has long been a thorn in the sides of the Brussels' institutions, took an even tougher line, in part criticizing von der Leyen while praising the American president. 'What's clear is that this isn't a deal Donald Trump struck with Ursula von der Leyen,' Orban said in an online interview with a pro-government influencer on Monday. 'Donald Trump ate Ursula von der Leyen for breakfast. The American president is a heavyweight negotiator, Madam President is featherweight.' Slovak Prime Minister Robert Fico, who typically joins Orban in criticizing the EU, said that 15% is 'a good negotiation result,' though he warned that the devil is 'hidden in the details.' Slovakia's car industry accounts for about 10% of the country's GDP and is home to plants owned by VW, Stellantis, Kia and Jaguar Land Rover, plus an extensive network of suppliers. Trade accords typically require years of negotiations and can run thousands of pages long. The deal reached between the EU and US was thin on details and so far hasn't produced any written details. 'The focus will now turn to interpretation and implementation risk, posing a mix of political and technical questions,' Carsten Nickel, deputy director of research at Teneo, wrote in a note. 'Given the nature of the deal, major uncertainties are likely to persist.' The EU agreed to purchase $750 billion in American energy products, invest $600 billion in the US on top of existing expenditures, open up countries' markets to trade with the US at zero tariffs and purchase 'vast amounts' of military equipment, Trump said. Key to getting the 15% rate to apply to pharmaceuticals and semiconductors was the bloc's promise to make US investments, according to people familiar with the matter. Clemens Fuest, president of Germany's Ifo Institute for Economic Research, called the deal a 'humiliation' that reflects the imbalance of power between the EU and US. 'The Europeans need to wake up, focus more on economic strength and reduce their military and technological dependence on the US,' Fuest said on social media. 'Then they can renegotiate.' French Prime Minister Francois Bayrou had even stronger words when discussing the new deal. 'It's a dark day when an alliance of free peoples, united to affirm their values and defend their interests, opts for submission,' he wrote on social media. --With assistance from Kamil Kowalcze, Alberto Brambilla, Zoltan Simon, Daniel Hornak, Sarah Jacob, James Regan and William Wilkes. (Updates with industry comment in the ninth paragraph.) Burning Man Is Burning Through Cash It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme Scottish Wind Farms Show How to Counter Nimby Opposition ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

What we know about Trump's visit to Scotland
What we know about Trump's visit to Scotland

Yahoo

time12 minutes ago

  • Yahoo

What we know about Trump's visit to Scotland

From trade deals to Gaza, here is what Keir Starmer is expected to discuss with Donald Trump at the US president's Ayrshire golf course. Sir Keir Starmer has met with Donald Trump in Scotland today to discuss a range of issues including the humanitarian crisis in Gaza and tariffs. The US president is hosting the prime minister at his Turnberry golf resort in Ayrshire as his four-day visit to Scotland draws to a close. Starmer is expected to spend most of the day with Trump where he will, among other things, attempt to press the president for a trade deal on UK-made steel. It comes after Trump announced he had agreed 'the biggest deal ever made' between the US and the European Union after high-stakes talks with Ursula von der Leyen at Turnberry on Sunday. While the prime minister will be seeking to strengthen the UK's economic ties with the US on the golf course, business secretary Jonathan Reynolds told BBC Breakfast there is "more to do" in negotiations and that a "resolution" is unlikely to be reached today. Here, Yahoo News takes a look at Trump's visit to Scotland and what is likely to be on the agenda today. Why is Trump here? Trump has been visiting his mother's ancestral homeland of Scotland since Friday for a mixture of business and pleasure. The president has been pictured playing golf at his Turnberry course in South Ayrshire and was also expected to visit his other course on the Menie Estate, north of Aberdeen, during his visit. He is expected to fly back to Washington on Tuesday, following his meetings on Monday with Starmer and Scotland's first minister John Swinney. Swinney has vowed to press Trump to exempt Scotch whisky from US trade tariffs, which he says are currently costing the local industry £4m a week. Swinney also promised to raise the situation in Gaza with Trump, as it was 'causing deep unease and concern and heartbreak within Scotland'. Is this a state visit? This four-day trip is not a state visit, although Trump is scheduled to make a state visit to the UK between 17 and 19 September. It will be a historic first, as Trump is the first elected leader in modern history to be invited back for a second state visit to the UK – the first being in 2019 during his first term as president. The full details of the visit have not yet been released, but it will include a full ceremonial welcome and a state banquet at St George's Hall in Windsor Castle. There had been speculation the King would host Trump in Scotland at Balmoral or Dumfries House, after Charles wrote a letter to him in February inviting him to a state visit. However, it is understood that with the state visit scheduled just a few months later, both sides had agreed to wait until the formal gathering. Anti-Trump campaigners have said they plan to stage a mass demonstration in central London on the first day of his trip. What are Trump and Starmer likely to discuss? Trump and Starmer are set to hold "wide-ranging" talks at the Turnberry golf course, No 10 Downing Street said, including advancing the implementation of the UK-US "economic prosperity deal". The deal was agreed upon in general terms between Starmer and Trump in May, although further details are yet to be hammered out. Progress was made in June when both leaders signed off on terms reducing tariffs on car and aerospace imports to the US. But agreement on a similar arrangement for Britain's steel imports was not reached, leaving tariffs on steel at 25%. American concerns over steel products made elsewhere in the world, then finished in the UK, are said to be among the sticking points on which Starmer will attempt to make progress. Business secretary Jonathan Reynolds told BBC Breakfast that negotiations have been "going on on a daily basis" since an agreement was reached on automotive and aerospace imports but that it "wasn't job done". "There's a few issues to push a little bit further today," he told the broadcaster. 'We won't perhaps have anything to announce a resolution of those talks. "But there's some sectors that we still need to resolve, particularly around steel and aluminium, and there's the wider conversation about what the US calls its reciprocal tariffs.' Starmer is also likely to use his time with Trump to raise concerns over the starvation of the population in Gaza caused by Israel's blockade of the Palestinian territory and restrictions on UN aid workers. As the pair met, Starmer said people were 'revolted at what they are seeing on their screens' with regard to Gaza. The prime minister has condemned Israel for restricting the flow of aid into the territory, alongside the leaders of France and Germany. However, Washington's stance on Israel has been far less critical, having provided money to the controversial Gaza Humanitarian Foundation, which has been criticised for bringing starving Palestinians to its sites only for them to allegedly be shot at by Israeli troops and US contractors. Click below to see the latest Scotland headlines No 10 said Starmer is expected to welcome Trump administration's work with mediators Qatar and Egypt to bring about a ceasefire and would discuss further what more can be done to bring the fighting and "unspeakable suffering" to a halt while securing the freedom of Israeli hostages. Starmer has also been facing pressure from more than 220 MPs calling for an immediate recognition of a Palestinian state – something French president Emmanuel Macron has promised to do – although it is unclear if the PM will bring this up with Trump today. Securing peace in Ukraine will also be high on the agenda, with the prime minister set to talk about their shared desire to bring an end to the war, No 10 said. They are expected to reflect on progress in their 50-day drive to arm Ukraine and force Putin to the negotiating table. After their meeting the two leaders will travel on together to a private engagement in Aberdeen. Read more US and EU agree trade deal - with bloc facing 15% tariffs on goods into America (Sky News) Palestinian state recognition is a one shot opportunity for Starmer – but what does he want to achieve? (The Independent) Scottish Secretary to give Donald Trump 'warm welcome' (The Telegraph)

Stock market today: Dow, S&P 500, Nasdaq futures edge up as Trump-EU trade deal kicks off huge week in markets
Stock market today: Dow, S&P 500, Nasdaq futures edge up as Trump-EU trade deal kicks off huge week in markets

Yahoo

time12 minutes ago

  • Yahoo

Stock market today: Dow, S&P 500, Nasdaq futures edge up as Trump-EU trade deal kicks off huge week in markets

US stock futures ticked up on Monday after the US and European Union struck a trade pact to lead off a packed week of Big Tech earnings, a Federal Reserve meeting, inflation data, the July jobs report, and President Trump's Aug. 1 deadline to lock in key trade deals. Dow Jones Industrial Average futures (YM=F) were up about 0.1%, while S&P 500 futures (ES=F) gained 0.2%, but both were coming off earlier premarket highs. Nasdaq 100 futures (NQ=F) put on roughly 0.4%, after the three major indexes closed Friday with gains. The US and EU have agreed on a framework deal to set Trump's tariffs on Europe's goods at a baseline 15%, compared with the 30% threatened. Trump called the pact 'the biggest of them all,' while von der Leyen said that "15% is not to be underestimated, but it is the best we could get." The news eased fears of a harmful trade war and boosted market sentiment, putting stocks on track to resume a rally that saw the S&P 500 (^GSPC) notch its fifth all-time high in a row on Friday. Read more: The latest on Trump's tariffs At the same time, hopes are rising for a US-China deal. Officials are meeting for talks in Stockholm on Monday to tackle roadblocks and to extend the existing tariff truce by three months, media reports said. Beijing currently faces an Aug, 12 due date for higher US levies, while other countries race to beat Friday's deadline. Meanwhile, Trump has frozen US tech export curbs to help the talks and efforts to set up an in-person meeting with President Xi, per the Financial Times. Investor eyes are now turning to a jam-packed week on Wall Street. Heavyweight earnings highlight the most intense stretch of the season, with more than 150 S&P 500 companies set to report. Meta Platforms (META) and Microsoft (MSFT) lead off Wednesday, followed by Amazon (AMZN) and Apple (AAPL) on Thursday. Read more: Full earnings coverage in our live blog Beyond earnings, the Fed begins its two-day policy meeting on Tuesday, with an interest-rate decision expected Wednesday afternoon. While the central bank is expected to keep rates at 4.25%-4.50%, the watch is on for signs that policymakers are warming to a rate cut in September. It all comes alongside legal battles to open up the Fed's meetings to investor eyes, as well as Trump's general pressure on the central bank and Chair Jerome Powell. On the data front, inflation and labor will be in the spotlight. The July reading of the personal consumption expenditures (PCE) index, the Fed's preferred inflation gauge, is forecast to show a modest monthly and annual uptick on its release on Thursday. Also on deck: a flurry of jobs data. Tuesday's JOLTS update and Wednesday's ADP private payrolls print will set the stage for the crucial July jobs report on Friday. How ethereum rose to become a mainstream cryptocurrency The Ether Machine is preparing to go public after raising the equivalent of $1.5 billion, with its promise of offering the public a new way to access cryptocurrency yields. It's the latest sign of ethereum's move out of bitcoin's shadow and into mainstream adoption. Yahoo Finance's Nina Moothedath reports: Here's what to know about ethereum and what sets it apart from other blockchains. ASML's stock is in focus after US/EU trade deal Semiconductor play ASML (ASML, getting a lot of mentions on the Street this morning as a winner from the US/EU trade deal. Shares were up nearly 5% at one point in premarket trading. (I would note ASML just a week ago issued weak guidance that hammered the stock, so be mindful of that.) Here's what JP Morgan had to say this morning: Good morning. Here's what's happening today. Economic data: Dallas Fed manufacturing activity (July) Earnings: Tilray (TLRY), Waste Management (WM), Whirlpool (WHR) Here are some of the biggest stories you may have missed overnight and early this morning: Fed meeting, July jobs report and Big Tech earnings: Week ahead Health insurers have a problem that's squeezing their earnings Musk hails $16.5B Samsung deal to make Tesla's AI chips Trump looms large over defiant Fed's meeting this week Eyes on US-China talks after EU strikes 15% tariff deal Oppenheimer lifts S&P 500 target to call third year of 20% gains US LNG producers soar as EU agrees $250B in annual purchases Japan: Only 2% of $550 billion US fund will be investment Fed meeting, jobs report, Big Tech earnings — and Trump's deadline: What to watch this week The impact of President Trump's policies on the economy is about to get a lot clearer. Yahoo Finance's Josh Schafer takes a look at what to expect this week and why it matters: Read more here. Trending tickers: Nike, Samsung Electronics and US liquefied natural gas stocks Here are some top stocks trending on Yahoo Finance in premarket trading: Nike (NKE) shares were up over 3% before the bell on Monday after receiving an upgrade from JPMorgan (JPM), moving its rating from neutral to overweight and setting a new price target of $93, up from the previous $64. Samsung Electronics ( stock rose 6% after announcing that it had secured a 16.5 billion deal to make Tesla's next-generation AI chip. Shares in US liquefied natural gas developers surged in premarket trading on Monday, after the European Union pledged to purchase $750 billion worth of the super-cooled fuel over the next three years as part of a sweeping trade pact. NextDecade (NEXT), Venture Global (VG), and Cheniere Energy (LNG)jumped between 7% and 8.8%. Samsung to make AI chips for Tesla under $16.5 billion deal Samsung Electronics ( SSNLF) has landed a $16.5 billion deal to make Tesla's (TSLA) next-generation AI chip. The agreement, which runs through the end of 2033, will see the South Korean company produce the AI6 semiconductor at an upcoming plant in Texas. Shares of Tesla stepped up 1.5% in premarket trading, after its CEO Elon Musk confirmed on X that the EV maker had struck the multibillion-dollar deal. Meanwhile, Samsung's Seoul-traded stock rose almost 7% to its highest level since September. 'The strategic importance of this is hard to overstate,' Musk wrote. "The $16.5B number is just the bare minimum. Actual output is likely to be several times higher." Bloomberg reports: Read more here. Oil rises with EU-US trade deal locked in Oil prices eked out gains as the US and the EU finalized details of a trade deal ahead of Trump's Aug. 1 deadline. Bloomberg reports: Read more here. European stock futures rise on US-EU trade deal announcement Futures in European stock indexes saw positive bumps early morning Monday as the markets reacted to the announcement of a tariff deal between the US and the EU Interest in individual stocks in carmakers, luxury goods makers, and alcohol conglomerates is rising ahead of the market open Monday with those industries the most impacted by the deal. Bloomberg reports: Read more here. How ethereum rose to become a mainstream cryptocurrency The Ether Machine is preparing to go public after raising the equivalent of $1.5 billion, with its promise of offering the public a new way to access cryptocurrency yields. It's the latest sign of ethereum's move out of bitcoin's shadow and into mainstream adoption. Yahoo Finance's Nina Moothedath reports: Here's what to know about ethereum and what sets it apart from other blockchains. The Ether Machine is preparing to go public after raising the equivalent of $1.5 billion, with its promise of offering the public a new way to access cryptocurrency yields. It's the latest sign of ethereum's move out of bitcoin's shadow and into mainstream adoption. Yahoo Finance's Nina Moothedath reports: Here's what to know about ethereum and what sets it apart from other blockchains. ASML's stock is in focus after US/EU trade deal Semiconductor play ASML (ASML, getting a lot of mentions on the Street this morning as a winner from the US/EU trade deal. Shares were up nearly 5% at one point in premarket trading. (I would note ASML just a week ago issued weak guidance that hammered the stock, so be mindful of that.) Here's what JP Morgan had to say this morning: Semiconductor play ASML (ASML, getting a lot of mentions on the Street this morning as a winner from the US/EU trade deal. Shares were up nearly 5% at one point in premarket trading. (I would note ASML just a week ago issued weak guidance that hammered the stock, so be mindful of that.) Here's what JP Morgan had to say this morning: Good morning. Here's what's happening today. Economic data: Dallas Fed manufacturing activity (July) Earnings: Tilray (TLRY), Waste Management (WM), Whirlpool (WHR) Here are some of the biggest stories you may have missed overnight and early this morning: Fed meeting, July jobs report and Big Tech earnings: Week ahead Health insurers have a problem that's squeezing their earnings Musk hails $16.5B Samsung deal to make Tesla's AI chips Trump looms large over defiant Fed's meeting this week Eyes on US-China talks after EU strikes 15% tariff deal Oppenheimer lifts S&P 500 target to call third year of 20% gains US LNG producers soar as EU agrees $250B in annual purchases Japan: Only 2% of $550 billion US fund will be investment Economic data: Dallas Fed manufacturing activity (July) Earnings: Tilray (TLRY), Waste Management (WM), Whirlpool (WHR) Here are some of the biggest stories you may have missed overnight and early this morning: Fed meeting, July jobs report and Big Tech earnings: Week ahead Health insurers have a problem that's squeezing their earnings Musk hails $16.5B Samsung deal to make Tesla's AI chips Trump looms large over defiant Fed's meeting this week Eyes on US-China talks after EU strikes 15% tariff deal Oppenheimer lifts S&P 500 target to call third year of 20% gains US LNG producers soar as EU agrees $250B in annual purchases Japan: Only 2% of $550 billion US fund will be investment Fed meeting, jobs report, Big Tech earnings — and Trump's deadline: What to watch this week The impact of President Trump's policies on the economy is about to get a lot clearer. Yahoo Finance's Josh Schafer takes a look at what to expect this week and why it matters: Read more here. The impact of President Trump's policies on the economy is about to get a lot clearer. Yahoo Finance's Josh Schafer takes a look at what to expect this week and why it matters: Read more here. Trending tickers: Nike, Samsung Electronics and US liquefied natural gas stocks Here are some top stocks trending on Yahoo Finance in premarket trading: Nike (NKE) shares were up over 3% before the bell on Monday after receiving an upgrade from JPMorgan (JPM), moving its rating from neutral to overweight and setting a new price target of $93, up from the previous $64. Samsung Electronics ( stock rose 6% after announcing that it had secured a 16.5 billion deal to make Tesla's next-generation AI chip. Shares in US liquefied natural gas developers surged in premarket trading on Monday, after the European Union pledged to purchase $750 billion worth of the super-cooled fuel over the next three years as part of a sweeping trade pact. NextDecade (NEXT), Venture Global (VG), and Cheniere Energy (LNG)jumped between 7% and 8.8%. Here are some top stocks trending on Yahoo Finance in premarket trading: Nike (NKE) shares were up over 3% before the bell on Monday after receiving an upgrade from JPMorgan (JPM), moving its rating from neutral to overweight and setting a new price target of $93, up from the previous $64. Samsung Electronics ( stock rose 6% after announcing that it had secured a 16.5 billion deal to make Tesla's next-generation AI chip. Shares in US liquefied natural gas developers surged in premarket trading on Monday, after the European Union pledged to purchase $750 billion worth of the super-cooled fuel over the next three years as part of a sweeping trade pact. NextDecade (NEXT), Venture Global (VG), and Cheniere Energy (LNG)jumped between 7% and 8.8%. Samsung to make AI chips for Tesla under $16.5 billion deal Samsung Electronics ( SSNLF) has landed a $16.5 billion deal to make Tesla's (TSLA) next-generation AI chip. The agreement, which runs through the end of 2033, will see the South Korean company produce the AI6 semiconductor at an upcoming plant in Texas. Shares of Tesla stepped up 1.5% in premarket trading, after its CEO Elon Musk confirmed on X that the EV maker had struck the multibillion-dollar deal. Meanwhile, Samsung's Seoul-traded stock rose almost 7% to its highest level since September. 'The strategic importance of this is hard to overstate,' Musk wrote. "The $16.5B number is just the bare minimum. Actual output is likely to be several times higher." Bloomberg reports: Read more here. Samsung Electronics ( SSNLF) has landed a $16.5 billion deal to make Tesla's (TSLA) next-generation AI chip. The agreement, which runs through the end of 2033, will see the South Korean company produce the AI6 semiconductor at an upcoming plant in Texas. Shares of Tesla stepped up 1.5% in premarket trading, after its CEO Elon Musk confirmed on X that the EV maker had struck the multibillion-dollar deal. Meanwhile, Samsung's Seoul-traded stock rose almost 7% to its highest level since September. 'The strategic importance of this is hard to overstate,' Musk wrote. "The $16.5B number is just the bare minimum. Actual output is likely to be several times higher." Bloomberg reports: Read more here. Oil rises with EU-US trade deal locked in Oil prices eked out gains as the US and the EU finalized details of a trade deal ahead of Trump's Aug. 1 deadline. Bloomberg reports: Read more here. Oil prices eked out gains as the US and the EU finalized details of a trade deal ahead of Trump's Aug. 1 deadline. Bloomberg reports: Read more here. European stock futures rise on US-EU trade deal announcement Futures in European stock indexes saw positive bumps early morning Monday as the markets reacted to the announcement of a tariff deal between the US and the EU Interest in individual stocks in carmakers, luxury goods makers, and alcohol conglomerates is rising ahead of the market open Monday with those industries the most impacted by the deal. Bloomberg reports: Read more here. Futures in European stock indexes saw positive bumps early morning Monday as the markets reacted to the announcement of a tariff deal between the US and the EU Interest in individual stocks in carmakers, luxury goods makers, and alcohol conglomerates is rising ahead of the market open Monday with those industries the most impacted by the deal. Bloomberg reports: Read more here.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store