Tech Stocks Slide, FBI, State Clash Over ICE Shooting, More
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News when you want it with Bloomberg News Now. I'm Amy Morris. And there's your closing bill for this Thursday on Wall Street, where big tech stocks tumbled as traders locked in profits from the AI trade, while smaller firms rallied. We do bring you closing numbers each day here at Bloomberg. The S&P 500 pretty much left flat. NASDAQ down 104 points. The Dow up 270 points. The 10-year Treasury yield at 4.18%. The two-year yield at 3.49%. The investigation into the killing of a U.S. citizen by an ICE agent in Minneapolis is being complicated by clashes between federal and local officials, with the FBI taking control of that investigation over the objections of Minnesota Governor Tim Walz.
We're not going to win this through violence. We're going to win it through justice. We're going to win it through compassion. We're going to win it through Minnesota Nice. And we're going to win it by holding every one of these people accountable as they should for what we've seen on the streets of Minneapolis.
Homeland Security Secretary Kristi Noem claims the state has no jurisdiction in the case. And while state and local officials have demanded ICE leave Minnesota entirely, Noem says ICE is not going anywhere. We've got thousands of officers there, and I'm not opposed to sending more if necessary to keep people safe. Comments from federal officials, including Vice President J.D. Vance, have drawn criticism for appearing to declare the shooting justified, despite the investigation being in its very early stages. Moderate Republicans are now getting closer to a deal to extend enhanced Obamacare tax credits that they say could pass the House and Senate. Ways and Means Committee Chair Jason Smith opposes the extension.
Unfortunately, what is on the floor today only addresses 7% of the population.
That 7% is part of the Obamacare exchanges that is just littered with so much waste, fraud and abuse. And just extending current status quo is unacceptable to the taxpayer.
Democratic Congresswoman Susan DelBene says this vote is significant.
This is an important step forward, legislation to keep these tax credits in place, and then we will tackle how we move forward in the Senate.
Representatives DelBene and Smith were guests on Bloomberg's balance of power, and legislation that would override President Trump's veto of a pair of bills failed. Republicans decided to stick with Trump. The Senate has advanced a resolution that would limit President Trump's ability to conduct further attacks against Venezuela. This morning's vote was a disapproval of the president's expanding ambitions, but has virtually no chance of becoming law because even if it did pass, Trump would have to sign it. More than a dozen oil executives are slated to meet with the president and other top officials at the White House to discuss potentially reviving Venezuela's oil production. The meeting will include representatives from Chevron and ExxonMobil and will focus on what's needed for oil companies to comfortably step back into Venezuela.
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