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Medicaid reform in President Donald Trump’s ‘big, beautiful bill’ has drawn a partisan line through Congress. 

Democrats have railed against potential Medicaid cuts since Trump was elected, while Republicans have celebrated Medicaid reform through the reconciliation process as an efficient way to eliminate waste, fraud and abuse in the welfare program. 

Fox News Digital asked lawmakers from both ends of the political spectrum to react to the One Big Beautiful Bill Act’s Medicaid reform. The results were as expectedly divided. 

‘This is all B.S., what the Democrats are doing,’ Sen. Tommy Tuberville, R-Ala., told Fox News Digital. ‘They’re pushing the agenda that we’re cutting 10 million people off Medicaid. It’s people that actually shouldn’t be on it, illegals that shouldn’t be on it. We’re reforming it.’

The Congressional Budget Office (CBO), a nonpartisan federal agency that has been ridiculed by Republicans, estimated this week that Trump’s ‘big, beautiful bill’ would leave 10.9 million people without health insurance, including 1.4 million who are in the country without legal status in state-funded programs.

But Republicans are holding firm in their defense of Medicaid reform, which Republicans say only cuts benefits to illegal immigrants, those ineligible to receive benefits who are currently receiving benefits, duplicate enrollees in one or more states and those who are able but choosing not to work. 

The people who would not continue to get Medicaid benefits under this bill were not qualified to get them in the first place,’ Sen. John Kennedy, R-La., told Fox News Digital. 

Democrats continue to sound off on the healthcare threat of eliminating 10 million people from Medicaid. Not a single House Democrat voted to pass Trump’s championed legislation, which includes fulfilling key campaign promises like cutting taxes, immigration reform and American energy production. 

‘These burdensome regulatory requirements for proving that somebody has obtained or sought work are going to mean millions of people will go without healthcare, and the restrictions on food assistance are equally an obstacle to people meeting their everyday needs,’ Sen. Richard Blumenthal, D-Conn., said. 

Blumenthal added he is ‘very, very concerned about these seemingly cruel and unproductive ways of raising money simply to finance tax cuts’ for ‘wealthy billionaires.’

New Jersey Democratic Sen. Andy Kim said he is happy to have an ‘honest conversation’ about government efficiency and saving taxpayer dollars, but that’s not the reality of this bill. 

‘People are struggling, and I feel like, in the richest, most powerful country in the world, we should be able to make sure that people can have the basic needs they need to be able to survive,’ Kim said of Medicaid and Supplemental Nutrition Assistance Program (SNAP) benefits. 

Sen. Jeff Merkley, D-Ore., told Fox News Digital there is ‘nothing beautiful’ about Trump’s ‘big, beautiful bill.’

‘This is horrific, and it adds massive amounts to our debt, compromising our ability to [fund] the fundamentals in the future, foundations for families to thrive — health care, housing, education, good-paying jobs. That’s what we should be doing here, not doing massive tax cuts for billionaires and paying for them by tearing down programs for ordinary families,’ Merkley said. 

The national debt stands at more than $36.2 trillion as of June 5, according to the Fox Business, based on data from the Treasury Department.

The CBO’s report this week also estimated Trump’s bill will cut taxes by $3.7 trillion while raising deficits by $2.4 trillion over a decade. 

Fox News’ Anders Hagstrom and Eric Revell contributed to this report. 

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The fallout between Elon Musk and President Donald Trump is an evolving situation marked by a public blowup on Thursday, but their relationship ties back to Trump’s first term and even earlier.

A November 2016 CNBC interview with the Tesla CEO, who’s now the richest man in the world, took a critical tone of the now president just days before he was elected president in an upset that signified the strength of the populist movement. 

‘Honestly, I think Hillary’s economic policies and her environmental policies particularly are the right ones, you know, but yeah. Also, I don’t think this is the finest moment in our democracy at all,’ Musk said.

‘Well, I feel a bit stronger that probably he’s not the right guy. He just doesn’t seem to have the sort of character that reflects well on the United States,’ he later added in the interview.  

During Trump’s first term, Musk was part of some of his economic advisory councils, which often includes CEOs, but ultimately left his post because he disagreed with the president’s move to exit the Paris Climate Accords.

‘Am departing presidential councils. Climate change is real. Leaving Paris is not good for America or the world,’ Musk posted at the time.

The two continued to have an on-and-off relationship, but there were some positive signs in May 2020.

‘Elon Musk, congratulations.  Congratulations, Elon. Thanks, Elon. For Elon and 8,000 SpaceX employees, today is the fulfillment of a dream almost two decades in the making,’ Trump said at the Kennedy Space Center in May 2020.

And at the SpaceX Demo-2 launch, Trump said he and Musk communicate regularly.

‘Well, I won’t get into it.  But, yeah — but I speak to him all the time.  Great guy.  He’s one of our great brains.  We like great brains.  And Elon has done a fantastic job,’ he said.

Fast forward to 2022, when Musk purchased Twitter and renamed it X, and brought back Trump’s account that November, after it was suspended after the events of Jan. 6, 2021. In 2022, Musk also announced that he would vote Republican, but indicated he would back Florida Gov. Ron DeSantis if he opted to seek the nomination.

DeSantis launched his campaign on X in a ‘space,’ a virtual public event forum, with Musk, who also reportedly significantly financially backed the Florida governor, according to The Wall Street Journal.

However, a major turning point was in July 2024, after the assassination attempt of Trump at a rally in Butler, Penn.

‘I fully endorse President Trump and hope for his rapid recovery,’ Musk posted.

Musk then campaigned for the president, including a famous moment when he was jumping on stage at his comeback rally in Butler.

‘I want to say what an honor it is to be here and, you know, the true test of someone’s character is how they behave under fire, right?’ Musk said at the rally. ‘And we had one president who couldn’t climb a flight of stairs and another who was fist pumping after getting shot.’

‘This is no ordinary election,’ the tech CEO continued. ‘The other side wants to take away your freedom of speech.’

‘Just be a pest to everyone,’ he added. ‘You know, people on the street everywhere: Vote, vote, vote!’

The tech billionaire spent roughly $300 million through America PAC to boost swing state voter efforts, including Pennsylvania. 

By the time the presidential election rolled around, Trump and Musk appeared to be close friends as the Tesla CEO was with Trump in Mar-a-Lago on election night. Over the next few days, Musk remained in Florida and was reportedly advising Trump on appointments and policy as the transition to a new administration kicked off. 

A week later, shortly before Musk and the new president appeared at a SpaceX launch together in Texas, Trump announced that Musk and tech entrepreneur Vivek Ramaswamy would be heading up the Department of Government Efficiency in an effort to rid the government of waste, fraud, and abuse. 

Trump described the pair as ‘two wonderful Americans’ and although Ramaswamy left that post in January and is now running for governor in Ohio, Musk stayed on and quickly became the face of an agency that made him the main target of attacks from Democrats pushing back on spending cuts that they argued were too drastic.

Protests erupted nationwide against Musk and DOGE including violent outbursts at his Tesla dealerships that tanked the company’s stock and were labeled as acts of ‘domestic terrorism’ by the Justice Department. 

During the first few months of the year, Musk and Trump were spotted together at several viral events including a UFC fight, an Oval Office meeting where Musk’s son ‘Little X’ stole the show, and a cabinet meeting in late February where Musk was the main focus. 

In March, Trump hosted Elon at a Tesla showcase in front of the White House amid a dip in Tesla stock where the president told reporters he was purchasing a Tesla while touting the company.

As Musk’s time at DOGE began to wind down, his employee classification allowed him to serve for 130 days, the newly formed agency had become the poster child of anti-Trump sentiment from Democrats who consistently attacked the $175 billion in spending cuts that DOGE estimated it delivered.

Signs of fracture in the relationship began showing in late May when Musk took a public shot at Trump’s ‘big beautiful bill’ as it made its way through Congress. 

‘I was disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it, and undermines the work that the DOGE team is doing,’ Musk said.

Two days later, Musk announced his official departure from DOGE.

‘As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending,’ Musk said, adding that the effects of DOGE ‘will only strengthen over time as it becomes a way of life throughout the government.’

DOGE, which fell short of Musk’s initial goal of slashing $1 trillion in spending which Musk said he still remains optimistic will happen in the future, will continue its work without Musk, who said, ‘I look forward to continuing to be a friend and adviser to the president.’

That optimistic tone shifted drastically on June 3 when Musk took to X, the platform he owns, and blasted the budget reconciliation bill calling it ‘a disgusting abomination’ and criticizing the Republicans who voted for it. 

‘KILL THE BILL,’ Musk said the next day.

A day after that, on Thursday, the feud hit a fever pitch.

While speaking with reporters in the Oval Office, Trump said that he was ‘very disappointed’ by Musk’s vocal criticisms of the bill. The president claimed that Musk knew what was in the bill and ‘had no problem’ with it until the EV incentives had to be cut.

On X, Musk called that assessment ‘false.’

Trump turned to social media to criticize Musk, who he appointed to find ways to cut $2 trillion after forming the Department of Government Efficiency (DOGE).

‘Elon was ‘wearing thin,’ I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!’ Trump said in one post.

In another post, Trump said, ‘I don’t mind Elon turning against me, but he should have done so months ago. This is one of the Greatest Bills ever presented to Congress. It’s a Record Cut in Expenses, $1.6 Trillion Dollars, and the Biggest Tax Cut ever given.’

‘If this Bill doesn’t pass, there will be a 68% tax increase, and things far worse than that. I didn’t create this mess, I’m just here to FIX IT. This puts our Country on a Path of Greatness. MAKE AMERICA GREAT AGAIN!’

At one point, Musk referenced late pedophile Jeffrey Epstein in relation to Trump as part of the larger tirade in a comment that several Republicans told Fox News Digital went ‘too far.’

Other posts from Musk included a claim that Trump would not have won the election without his help while accusing Trump of ‘ingratitude.’ In another post, Musk suggested that Trump should be impeached and replaced by Vice President Vance. 

It is unclear if a resolution to the feud is coming in the next few days. Fox News Digital reported on Friday morning that Musk wants to speak to Trump and that White House aides could possibly broker a meeting.

Trump told Fox News on Friday that he isn’t interested in talking to Musk, adding that ‘Elon’s totally lost it.’

Trump also said to Fox News’ Bret Baier that he isn’t worried about Musk’s suggestion to form a new political party, citing favorable polls and strong support from Republicans on Capitol Hill.

This post appeared first on FOX NEWS

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The massive Ukrainian drone strike on Russia has strong implications for the future of all warfare. The sophisticated operation taught us that the use of low-cost, highly scalable, lethal drone technology is here to stay. Our leaders must pay attention, because the Ukraine-Russia war is a blueprint for not only how we will fight future wars but how we will have to defend ourselves from a more sophisticated and capable enemy than ever before.   

America’s defense leaders need to start reflecting on the realities of modern warfare and fully understand that, as a country, we are not ready. Some people still want to try and deny these very small, handheld first-person view (FPV) drones that cost only a few hundred dollars are not the future of warfare.  

They need to wake up. That’s the wrong mentality, and it makes the U.S. less prepared. In the case of the Ukraine operation, they utilized a few good sources, some cheap trucks, and low-cost drones with munitions that managed to destroy over 40 strategic bombers worth billions. Not millions, billions.  

The U.S. government, on the other hand, will spend $10 billion dollars on an aircraft carrier that takes a decade to build and likely now could be destroyed by a modern-day swarm of unmanned surface vehicles, the same ones that have pushed the entire Russian Black Sea Fleet out of the Black Sea.   

Our defense procurement priorities are misguided. The Russians, Ukrainians, Iranians and even the Chinese are starting to treat drones not like we typically do as surveillance. They treat them like they do artillery rounds. This is ammunition and ammunition needs to be produced in massive quantities. They collectively have their manufacturers producing millions per year, yet our government gets excited when a U.S. manufacturer can produce 100 drones a month.   

 

The Ukraine operation should also highlight just how vulnerable we are as a country to similar attacks from our enemy.  Sadly, history has shown that the U.S. government will likely only change its archaic laws after we have a catastrophic attack on U.S. soil. Currently, we don’t allow for the needed widespread use of counter-drone and electronic warfare systems. We should be asking our leaders, why do we have to wait for fellow Americans to get hurt before doing something?

The truth is, we are not prepared defensively for what the state of drone technology currently is globally. People now easily have access to lethal capabilities at low costs that were before only allotted to first-world countries with massive budgets. The technology is proliferating at an alarming rate.   

Thankfully, we have a few companies up to the task. Andy Yakulis, CEO of the defense startup Vector Defense, focused on preparing our soldiers for the next generation of drone warfare, told me recently that: ‘We don’t have a drone technology problem, we have a contracting problem. We have a federal government and defense department procurement problem. Our defense industrial base is broken, and the big prime contractors just don’t get it and aren’t incentivized to adapt to this modern way of warfare because the money keeps rolling out to the same large defense contractors in from our government. We need to streamline the process for defense innovators, companies who understand the threats.’  

He’s right, the technology and expertise in America exists today to stop future attacks and to protect Americans. We will never fight another war without drone technology and AI playing some of the most critical roles. We just aren’t moving federal government budgets quickly enough to fix it, and we need to before it’s too late.  

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Procter & Gamble will cut 7,000 jobs, or roughly 15% of its non-manufacturing workforce, as part of a two-year restructuring program.

The layoffs by the consumer goods giant come as President Donald Trump’s tariffs have led a range of companies to hike prices to offset higher costs. The trade tensions have raised concerns about the broader health of the U.S. economy and job market.

P&G CFO Andre Schulten announced the job cuts during a presentation at the Deutsche Bank Consumer Conference on Thursday morning. The company employs 108,000 people worldwide, as of June 30, according to regulatory filings.

P&G faces slowing growth in the U.S., the company’s largest market. In its fiscal third quarter, North American organic sales rose just 1%.

Trump’s tariffs have presented another challenge for P&G, which has said that it plans to raise prices in the next fiscal year, which starts in July. The company expects a 3 cent to 4 cent per share drag on its fiscal fourth-quarter earnings from levies, based on current rates, Schulten said. Looking ahead to fiscal 2026, P&G is projecting a headwind from tariffs of $600 million before taxes.

P&G, which owns Pampers, Tide and Swiffer, is planning a broader effort to reevaluate its portfolio, restructure its supply chain and slim down its corporate organization. Schulten said investors can expect more details, like specific brand and market exits, on the company’s fiscal fourth-quarter earnings call in July.

P&G is projecting that it will incur non-core costs of $1 billion to $1.6 billion before taxes due to the reorganization.

“This restructuring program is an important step toward ensuring our ability to deliver our long-term algorithm over the coming two to three years,” Schulten said. “It does not, however, remove the near-term challenges that we currently face.”

P&G follows other major U.S. employers, including Microsoft and Starbucks, in carrying out significant layoffs this year. As Trump’s tariffs take hold, investors are watching Friday’s nonfarm payrolls report for May for signs of whether the job market has started to slow. While the government reading for April was better than expected, a separate reading this week from ADP showed private sector hiring was weak in May.

Shares of P&G fell more than 1% in morning trading on the news. The stock has fallen 2% so far this year, outstripped by the S&P 500′s gains of more than 1%. P&G has a market cap of $407 billion.

This post appeared first on NBC NEWS

Recently, the S&P 500 ($SPX) has been racking up a good number of wins.

Since late April, the index has logged its third winning streak of at least five: a nine-day streak from April 22–May 2 and a six-day streak from May 12–May 19. That makes for a cluster of long winning streaks, which is something that also showed up in late 2023 and mid-2024.

To put it simply, these bunches of buying usually show up in uptrends. Note how there were no five-day winning streaks during the three corrections pictured on the chart below (in August–October 2023, July–August 2024, and February–April 2025). Most of the clusters happened as the S&P 500 was in the middle of a consistent upswing; the only time we saw a long winning streak occur right before a big downturn was in late July 2024. That came after a strong three-month run from the April lows, with the S&P 500 gaining 14% in three months.

CHART 1. WINNING STREAKS IN THE S&P 500. Since late April, the S&P 500 has logged a nine-day streak from April 22 to May 2 and a six-day streak from May 12 to May 19.

Currently, the SPX is up 23% in just under two months. It wouldn’t be surprising to see a break in the action at some point soon.

The key difference between now and July is that back in July, the S&P 500 was making new highs for two straight months. That’s not the case now, as the index is still below the February 2025 highs. So it’s not apples to apples, but, at some point, the market will have to deal with more than a minor pullback once again.

Sentiment Check

After the close on Wednesday, I ran an X poll asking if the 0.01% move was bullish or bearish. The result: 61% said bullish.

This tells us that most people saw Wednesday’s pause as a sign that the bears are unable to push the market higher, which could be true. But it also suggests complacency. The onus still is squarely on the bears to do something with this, with the only true sign of weakness in the last six weeks coming on May 21, when the S&P 500 plummeted 1.6%. That ended up being an aberration… for now.

UBER Stock: One to Watch

Sometimes, a specific stock can provide clues about the broader market’s next step. Right now, we think that the stock is UBER.

Technically speaking, UBER is at a critical spot, and it’s also an important stock given that it was one of the first growth names to break out to new all-time highs. The stock remains in a long-term uptrend, which, of course, is bullish, but it has quietly pulled back 13% from its May 20 high of $93 and was just down nine out of 10 trading sessions (see the weekly chart of UBER stock). We can see that the stock has fully retraced the price action from the pattern breakout near $82.

CHART 2. WEEKLY CHART OF UBER STOCK. The stock is in a long-term uptrend, although it has retraced. Here’s where things get really interesting. UBER has now formed a potential bearish head-and-shoulders pattern, seen on the daily chart. If the stock breaks below $82, it will target the 71-zone.

CHART 3. DAILY CHART OF UBER STOCK. Will UBER’s stock price hold support or break below it? This chart is one to monitor.

So, here are three outcomes to watch for. UBER’s stock price could:

  1. Hold support (bullish).
  2. Break below $82, but then reverse higher, which would be a bear trap (bullish).
  3. Break below $82 and continue lower and hit the downside target (bearish).

If #3 occurs, the odds are UBER won’t be declining by itself; it’ll likely drag the broader market down with it. This shows the significance of UBER stock, which certainly makes it one to keep an eye on.


I’m a huge fan of using platforms like StockCharts to help make my investment process more efficient and more effective.  The StockCharts scan engine helps me identify stocks that are demonstrating constructive technical configuration based on the shape and relationship of multiple moving averages.

Today I’ll share with you one of my favorite scans, called “Moving Averages in Correct Order”, and walk through three charts that highlight the benefits of identifying charts in primary uptrend phases.

Primary Uptrends Can Be Defined By Moving Averages

This scan, which StockCharts members can access in the Sample Scan Library, basically looks for three criteria to be met for any chart:

  1. 20-day EMA > 50-day SMA
  2. 50-day SMA > 100-day SMA
  3. 100-day SMA > 200-day SMA

The general approach here is to find charts where the short-term moving averages are above their longer-term counterparts.  By making multiple comparisons, we can ensure a more consistent uptrend phase based on the recent price action.  

Let’s review two charts that I feel are representative of the stocks that will tend to come up using this scanning approach.

You’ll Probably Find Two Types of Charts in the Results

The most common result will be a chart that is in a long-term primary uptrend, making consistently higher highs and higher lows.  Netflix (NFLX) is a great example of this sort of “long and strong” price action.

The four moving averages have remained in the proper order as described above for most of the last 12 months.  After NFLX pulled back to its April low, a bounce back above the March swing high moved the 21-day exponential moving average back above the 50-day simple moving average.  From that breakout point, the stock has continued to push to new all-time highs into early June.

One thing I love about this scan is it helps me confirm which stocks are in persistent uptrends, because those are the types of charts that I generally want to be following as they trend higher.  But sometimes, a pullback chart will come up in the scan as well.  Here’s TJX, which has recently pulled back after achieving a new all-time high in May.

We can see that the moving averages returned to the proper order in early April after rotating higher off a major low in mid-March.  From that point, TJX had a false breakout in mid-April before finally completing the move to a new high in early May.  TJX subsequently gapped lower after an earnings miss, and the stock has now pulled back to an ascending 50-day moving average.

The TJX chart reminds me of three benefits of following moving averages over time.  First, we can look at the slope of an individual moving average to evaluate the shape of the trend on a specific time frame.  Second, we can compare multiple moving averages to validate the trend on multiple time frames.  Finally, we can use moving averages as potential support and resistance levels in the event of a pullback.

With TJX testing an ascending 50-day moving average this week, I’m inclined to treat this chart as “innocent until proven guilty” as long as it remains above this key trend barometer.  But if and when the 50-day moving average is violated, and if the moving averages are no longer in the proper order, then I would need to reevaluate a long position.

Why the Transition to Proper Order is So Important

This final example shows how the transition between moving average configurations can prove so valuable in understanding trend transitions.  Here’s a daily chart of VeriSign (VRSN) showing how the relationship between the moving averages can help us better label the different trend phases.

On the left third of the chart, we can see the moving averages mostly in a bearish order, confirming a distribution phase for the stock.  Then in June 2024, the moving averages change to where there’s no real clean definition of the trend.  This represents a consolidation phase, where buyers and sellers are essentially in agreement.

Finally, we can see that when the moving averages finally achieve a bullish configuration, VRSN is now in an accumulation phase of higher highs and higher lows.  And as long as those moving averages remain in the proper order, the uptrend phase is confirmed.

The goal with this moving average scan is to help us identify charts that are just rotating into the accumulation phase.  It’s also designed to encourage us to stick with winning trends as long as the price action confirms the uptrend.  And if and when the moving average configuration changes, then our approach should probably change as well!

RR#6,

Dave

PS- Ready to upgrade your investment process?  Check out my free behavioral investing course!

David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC

marketmisbehavior.com

https://www.youtube.com/c/MarketMisbehavior

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice.  The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.  

The author does not have a position in mentioned securities at the time of publication.    Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

The Trump administration announced a rebrand of the US Artificial Intelligence (AI) Safety Institute, stripping the word “safety” from the organization’s title and mission.

The institute, once tasked with developing standards to ensure AI model transparency, robustness and reliability, will now be known as the Center for AI Standards and Innovation (CAISI). According to the announcement, its focus will be on enhancing US competitiveness and guarding against foreign threats, not constraining the industry with regulations.

The decision, announced on Tuesday (June 3) by US Secretary of Commerce Howard Lutnick, marks a sharp departure from the Biden-era posture on AI governance.

‘For far too long, censorship and regulations have been used under the guise of national security. Innovators will no longer be limited by these standards,” Lutnick said in a statement.

“CAISI will evaluate and enhance US innovation of these rapidly developing commercial AI systems while ensuring they remain secure to our national security standards.”

Established in November 2023 under President Joe Biden’s executive order on AI, the original AI Safety Institute was housed within the National Institute of Standards and Technology (NIST). It aimed to assess AI risks, publish safety benchmarks and convene stakeholders in a consortium focused on responsible AI development.

But with the Trump administration’s return to the White House, the emphasis has shifted.

Instead of curbing AI risks through regulation and safety protocols, the renamed CAISI will now prioritize “pro-innovation” objectives, including the evaluation of foreign AI threats, mitigation of potential backdoors and malware in adversarial models and avoidance of what the administration sees as regulatory overreach from foreign governments.

According to the commerce department, CAISI’s primary tasks will include collaborating with NIST laboratories to help the private sector develop voluntary standards that enhance the security of AI systems, particularly in areas like cybersecurity, biosecurity and the misuse of chemical technologies. The center will also establish voluntary agreements with AI developers and evaluators, and lead unclassified evaluations of AI capabilities that may pose national security risks.

In addition to those directives, CAISI will lead comprehensive assessments of both domestic and foreign AI systems, focusing on how adversary technologies are being adopted and used, and identifying any vulnerabilities, such as backdoors or covert malicious behavior, that could pose security threats.

The center is also expected to work closely with the Department of Defense, the Department of Energy, the Department of Homeland Security, the Office of Science and Technology Policy, and the intelligence community.

CAISI will remain housed within NIST and will continue to work with NIST’s internal organizations, including the Information Technology Laboratory and the Bureau of Industry and Security.

Rise of foreign AI spurs national security concerns

The reformation of the institute reflects Trump’s broader AI strategy: loosen domestic oversight while doubling down on global AI dominance. Within his first week back in office, Trump signed an executive order revoking Biden’s prior directives on AI governance and removed his AI policy documents from the White House website.

That same week, he announced the US$500 billion Stargate initiative — a massive public-private partnership involving OpenAI, Oracle and SoftBank Group (OTC Pink:SOBKY,TSE:9984) that is intended to make the US the global leader in AI.

The Trump administration’s pivot has been partly catalyzed by growing concerns over foreign AI competition, particularly from China. In January, Chinese tech firm DeepSeek unveiled a powerful AI assistant app, raising alarms in Washington due to its technical sophistication and uncertain security architecture.

Trump called the app a ‘wake-up call,” and lawmakers quickly moved to introduce legislation banning DeepSeek from all government devices. The Navy also issued internal guidance advising its personnel not to use the app “in any capacity.”

Signs of an impending transformation had emerged earlier in the year.

Reuters reported in February that no one from the original AI Safety Institute attended the high-profile AI summit in Paris that month, despite Vice President JD Vance representing the US delegation.

Trump’s One Big Beautiful Bill reshaping US AI governance

Trump’s massive One Big Beautiful Bill, which includes much of the aforementioned legislation, is poised to dramatically reshape the landscape of AI regulation in the US. The bill introduces a 10 year moratorium on state-level AI laws, effectively centralizing regulatory authority at the federal level.

This move aims to eliminate the patchwork of state regulations, which the administration claims would foster a uniform national framework to bolster American competitiveness in the global AI arena.

The bill’s provision to preempt state AI regulations has sparked significant controversy.

A coalition of 260 bipartisan state lawmakers from all 50 states has urged to remove this clause, arguing that it undermines state autonomy and hampers the ability to address local AI-related concerns. Critics also warn that the moratorium could delay necessary protections, potentially endangering innovation, transparency and public trust. They argue that it may isolate the US from global AI norms and reinforce monopolies within the industry.

Despite the backlash, proponents within the Trump administration assert that the bill is essential for maintaining US leadership in AI. The One Big Beautiful Bill is currently being debated in the US Senate.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Investing in silver bullion has pros and cons, and what’s right for one investor may not work for another.

Interest in the silver market tends to flourish whenever the silver price increases, with investors beginning to wonder if silver is a good investment and it is the right time to add physical silver to their investment portfolios.

While silver can be volatile, the precious metal is also seen as a safe-haven asset, similar to its sister metal gold. Safe-haven investments can offer protection in times of uncertainty, and with tensions running high, they could be a good choice for those looking to preserve their wealth in difficult times.

With those factors in mind, let’s look at the pros and cons of buying silver bullion.

What are the pros of investing in silver bullion?

Silver can offer protection

Silver bullion is often considered a good safe-haven asset. As mentioned, investors often flock to precious metals in times of turmoil, politically and economically. For example, physical silver and gold have both performed strongly in recent years against a background of geopolitical instability and high inflation.

Silver bullion is a tangible asset

While cash, mining stocks, bonds and other financial products are accepted forms of wealth, they are essentially still digital promissory notes. For that reason, they are all vulnerable to depreciation due to actions like printing money. A troy ounce of silver bullion, on the other hand, is a finite tangible asset. That means that, although it is vulnerable to market fluctuations like other commodities, physical silver isn’t likely to completely crash because of its inherent and real value. Market participants can buy bullion in different forms, such as silver coins or silver jewelry, or they can buy silver bullion bars.

Silver’s cheaper and more flexible than gold

Compared to gold bullion, silver is significantly cheaper, which makes it more accessible for investors looking for an affordable entrance to the precious metals market. This can make it easier for investors to build up a portfolio over time.

Another benefit is that investors who need to convert their precious metals to currency will have an easier time selling a portion of their silver portfolio than those looking to sell part of their gold. Just as a US$100 bill can be a challenge to break at the store, divvying up an ounce of gold bullion can be a challenge. As a result, silver bullion is more practical and versatile, particularly for everyday investors who need flexibility in their investments.

Silver offers higher returns than gold

Silver tends to move in tandem with gold: when the price of gold rises, so too does the price of silver. Because the white metal is currently worth around 1/100th the price of gold, buying silver bullion is affordable and stands to see a much bigger percentage gain if the silver price goes up. In fact, silver has outperformed the gold price in bull markets. It’s possible for an investor to hedge their bets with silver bullion in their investment portfolio.

History is on silver’s side

Silver and gold have been used as legal tender for thousands of years, and that lineage lends them a sense of stability. Many buyers find comfort in knowing that silver has been recognized for its value throughout a great deal of mankind’s history, and so there’s an expectation that it will endure while a fiat currency may fall to the wayside. When individuals invest in physical silver, there is a reassurance that the metal has value that will continue to persist. Additionally, its increasing use as an industrial metal in the energy transition has improved the metals fundamentals even further.

What are the cons of investing in silver bullion?

Danger of theft

Unlike most other investments, such as stocks, holding silver bullion can leave investors vulnerable to theft. And of course, the more physical assets, including silver jewelry, that reside within your home, the more at risk you are for losing significantly if a burglary takes place. It’s possible to secure your assets from looting by using a safety deposit box in a bank or a safe box in your home, but this will incur additional costs.

Weaker return on investment

Silver may not perform as well as other investments, such as real estate or even other metals. Mining stocks, especially silver stocks that pay dividends, may also be a better option than silver bullion for some investors. Royalty and streaming companies are another option for those interested in investing in silver, as are exchange-traded funds and silver futures.

High silver demand leads to higher premiums

When investors try to buy any bullion product, such as an American silver ounce coin known as a silver eagle, they quickly find out that the physical silver price is generally higher than the silver spot price due to premiums used by sellers. What’s more, if demand is high, premiums can go up fast, making the purchase of physical silver bullion more expensive and a less attractive investment.

Bullion lacks quick liquidity

Silver bullion coins are not legal tender, meaning they can’t be used for every day purchases. Since the metal is usually used as an investment, this isn’t often an issue. However, it does mean that if silver needs to be sold in a hurry to cover expenses, investors will need to find a buyer. If you can’t access a bullion dealer and are in a jam, pawn shops and jewelers are an option, but they won’t necessarily pay well.

How to add physical silver to your portfolio?

How to buy silver digitally?

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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

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