Stocks Close Higher on Tech Rally, US-Taiwan Trade Deal, More
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What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now. I'm Amy Morris. There's a closing bell for this Thursday on Wall Street where a tech rally pushed a rebound in stocks. Of course, we bring you the closing numbers each day here at Bloomberg. The S&P 500 gained 18 points. NASDAQ gained 58. The Dow gained 293 points. The 10-year Treasury yielded 4.17%. The 2-year yielded 3.56%. The U.S. and Taiwan have agreed to a trade deal to lower tariffs on goods from Taiwan to 15%. and see Taiwanese semiconductor companies increase financing for American operations. Taiwan's technology industry would commit to making at least $250 billion in direct investments to expand advanced semiconductor, energy and AI operations in the U.S.
and provide an additional $250 billion in credit guarantees. Bloomberg's Mike Shepard.
The deal would include Taiwan Semiconductor Manufacturing Company agreeing to build as many as four additional plants, along with two packaging facilities. So we're talking about a lot of investment here. And this is something that officials in Taiwan have been looking for. But it runs the risk, of course, of antagonizing China.
The deal removes a major point of contention between the U.S. and Taiwan. Venezuelan opposition leader Maria Corina Machado met with President Trump at the White House, part of her push for greater influence, two weeks after Nicolas Maduro was ousted. Rather than installing Machado atop a new government in Venezuela, Trump has so far thrown his support behind acting President Delce Rodriguez. Machado also met with lawmakers on Capitol Hill. President Trump has threatened to invoke the Insurrection Act and deploy troops to quell persistent protests against ICE officers in Minneapolis. Dean of the UC Berkeley School of Law, Erwin Chermerinsky, says it would be truly extraordinary to use that act and the military in these circumstances.
There is a strong tradition in the United States that we don't use the military for domestic law enforcement. No president has done it without a governor's request since 1965 when President Johnson sent troops into South Alabama to protect civil rights demonstrators.
Homeland Security Secretary Christine Ohm says she doesn't think ICE has gone too far.
Our ICE agents are following the law and running their operations according to training.
President Trump has repeatedly threatened to invoke the Insurrection Act to deploy the military or federalize the National Guard for domestic law enforcement. Federal prosecutors are charging 20 people, including 15 former college basketball players... in what they call a scheme to rig NCAA and Chinese Basketball Association games. Andrew Bailey is deputy director at the FBI.
How did a tech rally drive the S&P 500, NASDAQ and Dow higher at today's close?
Over the past two years, the FBI's Philadelphia field office has conducted a wide-ranging investigation into a point-shaving conspiracy involving at least 15 NCAA men's college basketball teams.
Dozens of schools were impacted by the scheme, including Fordham, Buffalo, Georgetown, Kent State, and DePaul. Efficiency is the name of the game on Wall Street lately. The six largest U.S. banks cut their combined headcount last year by the most in almost a decade, more than 10,600. to keep a lid on costs.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–3:35
2
How did a tech rally drive the S&P 500, NASDAQ and Dow higher at today's close?
3:35–6:03
3
What were the key U.S. Treasury yield moves reported for the 10-year and 2-year notes?
6:03–6:20
4
What are the main details of the U.S.-Taiwan trade deal on tariffs and semiconductor investment?
6:20–7:08
5
How much U.S. investment and credit guarantees did Taiwan's tech industry commit to for U.S. expansion?
7:08–7:20
Speakers
6 identifiedMore from Bloomberg News Now
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