Trump’s Fed Threats Hit Markets, Walmart Widens Gap with Target, and EchoStar’s $23B AT&T Deal
In today’s episode, markets softened as President Trump threatened to fire a Federal Reserve official and raised new tariff warnings, raising concerns about central bank independence and policy uncertainty. Walmart reinforced its retail dominance with nearly 5% U.S. sales growth, while Target logged its 11th straight quarter of sales declines and a looming CEO transition. Trump escalated trade tensions again by threatening a 200% tariff on rare-earth magnets if China curbs exports, highlighting their importance for U.S. tech and defense. EchoStar stock surged 60% on a $23 billion spectrum sale to AT&T, while Keurig Dr Pepper announced an $18 billion acquisition of JDE Peet’s and a plan to split into two standalone companies. Waymo secured the first permit to test autonomous cars in New York City, Nvidia rolled out a $3,499 “robot brain” developer kit for robotics, and Freshpet tumbled 10% after General Mills unveiled plans to launch a competing fresh dog food line.
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