Stay updated on the major industries and stocks affected or expected to be affected by President
Donald Trump’s comments, actions, and policies with this daily summary provided by The Fly:
DEEPSEEK: Following the Trump administration’s move to limit Nvidia’s
s
(NVDA)
chip sales to China, there are discussions about penalties that could prevent DeepSeek, a Chinese
artificial intelligence firm, from acquiring U.S. technology and potentially limit U.S. access to its services, as reported by
The New York Times.
An investigation is underway by the House Select Committee on the Chinese Communist Party
regarding Nvidia’s chip sales in Asia to see if DeepSeek unlawfully received essential technology for AI development.
IRS DIRECT FILE: The Trump administration is set to abolish the IRS’ Direct File program, which allowed tax returns to be filed electronically for free. According to reports by Associated Press’s Fatima Hussein,
this program, launched during Joe Biden’s presidency, was praised by many users for its efficiency. However, Republican legislators and tax preparation firms criticized it as a misuse of taxpayer money due to the existence of already challenging free filing options. Publicly traded companies in this sector include H&R Block
(HRB) and Intuit
(INTU).
OBSCURE STOCKS: Trading activity for two lesser-known New York-listed stocks surged significantly before announcements regarding the appointment of Trump family members to their advisory boards, as reported by the Financial Times.
The drone manufacturer Unusual Machines
(UMAC) saw its stock nearly triple prior to Donald Trump Jr.’s appointment, while Dominari Holdings
(DOMH) experienced a 580% increase before announcing that Trump Jr. and Eric Trump joined its board. Experts noted that the timing and magnitude of these stock movements were “clearly unusual.”
STOCK MANIPULATION: In a memo to the U.S. Securities and Exchange Commission, Trump Media and Technology Group
(DJT) raised concerns about dubious trading related to a disclosure filed in Germany by the UK-based hedge fund Qube Research & Technologies. The memo cited critical questions surrounding Qube’s trading practices and highlighted a history of suspicious transactions involving DJT stock, urging an immediate investigation into the matter.
PUSH BACK: Chris Krebs, a former official from the Trump administration under scrutiny, has announced his resignation from SentinelOne
(S). Krebs plans to contest what he deems as an unprecedented government campaign against dissent. This resignation adds to a growing list of academic institutions and law firms taking a stand against the current administration’s actions toward its critics.
AUTO TARIFFS: Ford Motor
(F) has informed dealers that it may raise the prices of newly built vehicles if President Trump does not relax tariffs on automobile imports, according to a memo obtained by
Automotive News.
FEDERAL FUNDING PAUSE: In late January, President Trump halted all federal funds allocated for clean school buses. Although the EPA has begun to release some of these funds, the process remains slow and disruptive according to reports from Bloomberg, which referenced the views of advocates, manufacturers, and school officials. The EPA claims it is not obstructing the distribution of already awarded funds but has refrained from commenting on unallocated resources. Shares of electric school bus manufacturer Blue Bird
(BLBD) dipped during Wednesday’s trading session.
Originally published on
TheFly
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