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Wall Street Struggles Amid Layoff Surge and Tesla Shareholder Showdown

U.S. markets opened Thursday on shaky ground as investors digested troubling labor data and braced for a pivotal vote at Tesla. The Dow Jones Industrial Average and S&P 500 hovered near flat , while the Nasdaq slipped slightly, down just over 0.1% . The unease was fueled by reports showing that October marked the worst month for layoff announcements since 2003 , with 153,074 job cuts compared to just 55,597 a year earlier. Companies cited cost-cutting, the unwinding of pandemic-era hiring, and preparations for artificial intelligence as reasons behind the surge in layoffs. Meanwhile, investors are keeping a close eye on Tesla’s upcoming shareholder vote , which could shape the future of the electric vehicle giant. Despite strong earnings from chipmaker Qualcomm, tech stocks remained under pressure, reflecting broader concerns about whether valuations in the sector have become overheated. The mixed signals highlight a market caught between optimism about corporate innovation an...
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Supreme Court Scrutinizes Trump’s Tariff Powers in Landmark Case

 

                                           The Supreme Court in Capitol Hill in Washington  


In a pivotal legal showdown, the U.S. Supreme Court has raised serious questions about the legality of President Donald Trump’s sweeping global tariffs, challenging the extent of presidential authority under a 1977 emergency law. The case marks one of the most consequential tests of executive power in recent history, with potential ramifications for trade policy and constitutional balance.

During oral arguments, justices from both sides of the ideological spectrum expressed skepticism about the administration’s claim that the president can unilaterally impose tariffs without clear congressional oversight. Justice Neil Gorsuch, a Trump appointee, notably questioned whether such broad authority could allow Congress to abdicate its constitutional role in regulating foreign commerce or even declaring war.

The tariffs in question—central to Trump’s second-term economic agenda—have been justified under emergency powers, a rationale that several justices appeared to challenge. While the court has previously shown deference to Trump’s foreign policy decisions, this case has prompted a more rigorous examination of the legal boundaries of executive action.

Legal experts suggest that the outcome could redefine the balance of power between the legislative and executive branches. Although the court’s conservative majority has often sided with Trump, the pointed questioning indicates a potential shift in judicial scrutiny.

Treasury Secretary Scott Bessent, present at the hearing, remained optimistic, stating he was “very, very optimistic” about the outcome. However, if the court rules against the administration, it could curtail the president’s ability to use tariffs as a tool of economic and diplomatic leverage.

The decision, expected in the coming months, will not only impact Trump’s trade strategy but could also set a precedent for future presidents seeking expansive use of emergency powers.


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