Trump-Xi meet to talk rare earths, AI
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What is the upcoming Trump‑Xi meeting and why does it matter for trade and AI?
Welcome to Seeking Alpha's Wall Street Brunch, our Sunday look-ahead to this week's market-moving events, along with the weekend's top news and analysis.
China is here, Mr. Burton.
Hello, today is Sunday, September twentieth, and I'm your host, Kim Khan. This week, President Donald Trump will host Chinese President Xi Jinping at the White House, with trade, tariffs, Taiwan, and AI expected to feature prominently in the talks.
How could rare‑earth export bans and Chinese purchases affect U.S. geopolitics?
Bilateral meetings are due ahead of the big meeting Thursday, including Treasury Secretary Scott Bessant meeting with Chinese Vice Premier He Lee Thing today in New York. Investors will also be watching for possible announcements on Chinese purchases of US goods, including Boeing aircraft, and flows of rare earth magnets from China. SA analyst Demer Tokic says the failure to make a deal to extend the rare earth export ban truce could trigger a major geopolitical escalation. But with oil sales to China and US tech exports also on the table, a deal would have to settle the war in Russia, the war in Iran, the AI race, not to mention the original trade war, he said. AI dominated the news this weekend with President Donald Trump posting that he intends to create an AI force with an AI czar to protect an industry that he says will one day make up twenty-five percent of US GDP.
What is President Trump’s proposed AI Force and how might it impact the U.S. economy?
He says the AI force will not in any way hinder or stifle growth and will use the current criminal and civil justice systems to handle any bad aspects. While he stressed again that fears of an AI takeover are a hoax, Trump also canvassed for an AI rebrand to superior, extreme, or supreme intelligence. Meanwhile, Google confirmed that its Gemini model gained unauthorized access to three companies in May during a review of its cybersecurity capabilities, the first known incident of the company's AI system autonomously engaging in such an act. Gemini accessed outside systems by guessing login information and using credentials found publicly, assuming the systems were part of the test. But in all three cases the model stopped short of doing anything further after entry.
What happened with Google’s Gemini model breach and what does it mean for AI security?
On the earnings front, the calendar is still very sparse, Costco's report Thursday will likely garner the most attention. Seeking off ahead of Quant Steve Kress as he always leans towards a positive hold for Costco. Looking at price earnings to growth valuation, even the Peg is freaking expensive. It's got a D quant grade for Peg, it's at a seventy six percent premium, so it really is a rich and expensive stock. But there is a growth element to it, Crest said on Wall Street Breakfast Friday.
Why is Costco’s earnings report a focal point for investors this week?
I'm just not sure the valuation framework is worth it. And you can hear more from him every morning around Market Open with Rena Sherbo on TikTok, X, and YouTube at Crest's. Top Stocks, C-R-E-S-S. Looking to the rest of the earnings calendar, AutoZone and KB Home Report Tuesday, Cracker Barrel General Mills and Paychecks weigh in on Wednesday. BlackBerry joins Costco on Thursday. Among other corporate happenings this week, investors will be looking for more statements from media companies, especially CNN owner Warner Brothers Discovery and MSNow owner Versant, after CNN, MSNow, and political journalists were prevented from accessing White House grounds over the weekend following Trump's ban of the outlets.
All three outlets, along with others like AP and the New York Times, have decried the action as violating the First Amendment. SpaceX will make up two point eight two percent of the Nasdaq one hundred after its rebalancing on Monday, up from its current weighting of roughly one point two eight percent, according to Bloomberg, and McDonald's holds its investor day on Wednesday. And for income investors, Broadcom and Meta go X dividend on Monday, Broadcom pays out on September thirtieth, and Meta on September twenty eighth. Seagate goes X dividend on Thursday, paying out on October seventh, Medtronic goes X dividend on Friday with an october sixteenth payout date. That's all for today's Wall Street brunch, look for links to stories in the show notes section.
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Chapters
5 chapters
1
What is the upcoming Trump‑Xi meeting and why does it matter for trade and AI?
0:05–0:30
2
How could rare‑earth export bans and Chinese purchases affect U.S. geopolitics?
0:30–1:19
3
What is President Trump’s proposed AI Force and how might it impact the U.S. economy?
1:19–2:03
4
What happened with Google’s Gemini model breach and what does it mean for AI security?
2:03–2:30
5
Why is Costco’s earnings report a focal point for investors this week?
2:30–4:06