Key Takeaways
- The Trump Administration is reportedly reviewing SpaceX (SPACE) government contracts following Elon Musk’s criticism of the President’s tax plan, signaling potential friction between the administration and the aerospace giant.
- Japan is holding a crucial Upper House election today, with polls indicating that Prime Minister Shigeru Ishiba’s ruling coalition faces the risk of losing its majority, which could introduce political uncertainty.
- Russia claims to have downed a significant number of Ukrainian drones, with the Russian Defense Ministry reporting the interception of 41 drones, including 8 over Moscow, highlighting the ongoing intensity of the conflict.
- An AI-based analysis cited by Newsweek has ranked President Trump’s legislative achievements in his current term as the most effective for a U.S. president in the first six months since FDR.
The Trump Administration has initiated a review of federal contracts with SpaceX (SPACE), a move that comes in the wake of Elon Musk’s public criticism of President Trump’s tax plan. This development suggests a potential escalation of a feud between the administration and the prominent aerospace company, which holds substantial government contracts. The review could have significant implications for SpaceX’s future projects and its relationship with federal agencies.
Meanwhile, Japan is at a critical political juncture as voting commenced Sunday for its Upper House election. Current polls suggest that Prime Minister Shigeru Ishiba’s ruling coalition is in jeopardy of losing its majority. The outcome of this election will be closely watched by financial markets, as a shift in power could lead to changes in economic policy and political stability in the region.
In Eastern Europe, the conflict continues to see intense drone activity. The Russian Defense Ministry reported the downing of 41 Ukrainian drones, with 8 of them intercepted over Moscow, indicating a persistent threat to the Russian capital. Separately, a Russian official confirmed the interception of 15 Ukrainian drones launched towards Moscow, underscoring the ongoing aerial engagements.
In other global news, the European Earthquake Monitoring Center reported a 5.2 magnitude earthquake striking northern Iran. Additionally, humanitarian concerns are rising in Syria, where Syrian Civil Defense teams have conducted large-scale evacuations of civilians, primarily women and children, in Sweida province. This action followed reported violations by Israeli-backed armed factions. Senator Marco Rubio has called for an end to the fighting between Druze and Bedouin groups in southern Syria and urged authorities in Damascus to preserve the opportunity for a unified Syria.
Domestically, in the United States, an incident in Los Angeles saw a driver ram a crowd outside a nightclub, injuring 30 people early Saturday morning. The driver was reportedly attacked and shot after the incident, which also involved a taco stand and a valet station.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.