Trump's Media Pressure, US-China Call on TikTok, and Fed Governor Ouster

Trump's Pressure on Broadcast Networks

• 📺 President Trump is calling for the FCC to review broadcast network licenses if they are too critical of him, following the suspension of ABC's Jimmy Kimmel Live.
• 🗣️ Trump suggested that networks like NBC should fire hosts who he believes are biased against him, likening some networks to an "arm of the Democrat party."
• 💡 Media executives and academics suggest this pressure may lead companies to "bend to the will" of the administration, potentially resembling state-run media.
• 🎙️ Jimmy Fallon expressed support for Jimmy Kimmel, whose show was suspended after joking about conservative activist Charlie Kirk.

US-China Relations and TikTok

• 📞 President Trump is scheduled to speak with Chinese President Xi Jinping, marking their first direct engagement since June.
• 📱 A key topic is expected to be the future of TikTok, with negotiators reaching a framework deal for US operations to be controlled by American investors.
• 💰 Trump has expressed a desire to avoid losing the "tremendous value" of TikTok, noting its role in his election.
• 📈 The call may also address a tariff truce, potentially easing trade tensions between the two countries.

Federal Reserve Governor Ouster Attempt

• 🏛️ The Trump administration is asking the Supreme Court to allow President Trump to fire Federal Reserve Governor Lisa Cook.
• ⚖️ The Justice Department is seeking to pause a ruling that currently allows Cook to remain in her position.
• ❓ The administration's stated cause for dismissal is alleged mortgage fraud, which Cook denies.

Market Performance and Corporate News

• 📈 Major US stock indices, including the Dow, S&P 500, and NASDAQ, closed at all-time highs, a rare occurrence.
• 📦 FedEx reinstated its profit and sales forecast, anticipating revenue growth but also a potential billion-dollar hit from trade volatility due to tariffs.
• 📱 Apple is releasing new iPhone, Apple Watch, and AirPods models, with early sales indicating strong demand for Pro models.
• 🏦 The Bank of Japan maintained its interest rates and announced plans to begin reducing its exchange-traded fund holdings, signaling a step toward policy normalization.

Other News and Events

• 🚨 Protests over conditions at a Manhattan immigration holding facility led to dozens of arrests, including elected officials.
• 👮 Three Pennsylvania police officers were killed in an ambush while responding to a domestic violence call.
• 🇺🇳 New York City is increasing security for the upcoming 80th United Nations General Assembly due to national and global threats.