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President Donald Trump has a busy week planned to start February, including speeding through more confirmations for the president’s Cabinet picks.

Trump made good on his promise of new tariffs over the weekend, hitting Canada and Mexico with 25% duties and China with a 10% tariff over concerns about fentanyl and continued illegal immigration.

Those tariffs are expected to be fully in force by Tuesday and have already drawn retaliation from Canada, with Prime Minister Justin Trudeau announcing a 25% tariff on some goods coming into the country from the U.S. on Sunday. Mexico, meanwhile, has also signaled a plan to impose tariffs on the U.S., though specific increases have yet to be announced.

The beginning of the week will also see the deadline pass for six senior FBI officials to retire, resign or be fired, according to a report by USA Today, making good on Trump’s plans to push aside leaders who were promoted by former FBI Director Christopher Wray.

Monday will also see the Senate vote on Trump’s pick for treasury secretary, Scott Bessent, as well as a vote to advance former Rep. Sean Duffy, R-Wis., Trump’s pick to serve as transportation secretary.

Tuesday will see Israeli Prime Minister Benjamin Netanyahu meet with Trump at the White House, the first meeting between the two leaders since Trump regained control of the Oval Office.

Robert F. Kennedy Jr., Trump’s pick to lead the Department of Health and Human Services, will appear before the Senate Committee on Finance on Wednesday, a day that will also see Howard Lutnick, Trump’s choice for commerce secretary, appear before the Senate Committee on Commerce, Science, and Transportation, and former Sen. Kelly Loeffler, R-Ga., Trump’s choice to lead the Small Business Administration, will testify in front of the Senate Committee on Small Business.

Wednesday will also see the Senate Committee on the Judiciary vote on whether to send former Florida Attorney General Pam Bondi, Trump’s pick to lead the Department of Justice, to the full floor for a confirmation vote.

Thursday is the deadline for federal workers to decide whether they would prefer to return to work in the office or accept a buyout and severance package that would see them paid through the end of September, part of Trump’s plan to trim the federal workforce.

Thursday will also be a busy day for Trump Cabinet picks, with Kash Patel, Trump’s pick to lead the FBI, appearing before the Senate Judiciary Panel. Meanwhile, Kennedy will make an appearance in front of the Senate Committee on Health, Education, Labor and Pensions, while former Rep. Tulsi Gabbard of Hawaii, Trump’s choice to be the director of national intelligence, will appear before the Senate Select Committee on Intelligence.

The Senate’s Budget panel will also vote whether to move Russ Vought, who Trump nominated to lead the Office of Management and Budget, to a vote on the full floor, while the Senate Foreign Relations Committee will decide whether to advance Rep. Elise Stefanik, R-N.Y., Trump’s choice for U.S. ambassador to the United Nations.

The busy week will see another highlight Friday when the Bureau of Labor Statistics’ first monthly jobs report comes out since Trump took office, with the U.S. looking to hit 49 consecutive months of job gains.

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Conservatives on social media are having a field day mocking the Democratic National Committee for featuring a handful of ‘beyond parody’ moments during its leadership vote over the weekend, which critics say underscores that Democrats have ‘learned absolutely nothing’ from their 2024 election losses. 

The DNC voted to elect Minnestota Democrat Party leader Ken Martin as its chair on Saturday, after eight candidates vied to succeed Jaime Harrison. Following the Democratic Party’s losses in November, when Republicans reclaimed the White House and Senate and retained control of the House, the DNC’s chair vote serves as a fresh slate for the party as they ramp up strategies and fundraising for the next election cycle. 

Conservatives and critics took to social media over the weekend to highlight what they viewed as the most out of touch speeches and comments from party leaders, including the election of left-wing activist David Hogg as one of its three co-chairs. Hogg is an outspoken gun control advocate and the co-founder of March for Our Lives, a gun control group that was formed after the Parkland school shooting in 2018. 

‘DNC Vice Chair David Hogg has some legitimately INSANE views that are wildly out of step with the American people. Good to see that the Democrat Party has learned absolutely nothing,’ conservative communicator Steve Guest posted to X. 

Hogg, a Parkland school shooting survivor, said from the DNC vote in Maryland that the party will put Republicans ‘on the defense’ in the coming days and reclaim lost political ground. 

‘After Parkland, our country was in a similar moment – where we had a Republican trifecta in Washington,’ the 24-year-old said during the DNC election. ‘We went on the offense, put the Republicans on the defense, and we won. That’s what we need to do right now.’

‘We’re going to show people that the reason people should vote for us isn’t just because we’re not Republicans – it’s because we’re damn Democrats. We give a s—,’ he pledged. ‘And we deliver. Now it’s time to rebuild the party and to rethink the way we’ve been doing things.’

Amid the hours-long vote and gathering of Democrats on Saturday in Maryland, former DNC chief Harrison announced that the elections must be gender-balanced, including when a non-binary candidate is in the running, sparking condemnation from conservatives. 

‘We have an amazing group of new officers. So far, as you know, our three at large vice chair positions are used to ensure gender balance among seven offices: treasury secretary, national finance chair and vice chair for civic engagement and voter participation and the three at large vice chairs. Our rules specify that when we have a non-binary candidate or officer, the non-binary individual is counted as neither male nor female, and the remaining six offices must be gender balanced with the results of the previous four elections. Our elected officers are currently two male and two female. In order to be gender balanced… we must elect one male, one female, and one person of any gender.’

Before the election kicked off on Saturday, the eight candidates had traveled to Georgetown University for a forum co-hosted by MSNBC on Thursday, where they declared ‘racism and misogyny’ compounded former Vice President Kamala Harris’ election loss. 

‘So, I’m going to have a show of hands. How many of you believe that racism and misogyny played a role in Vice President Harris’ defeat?’ MSNBC’s Jonathan Capehart asked the eight candidates. 

‘That’s good. You all passed,’ Capehart said after all candidates raised their hands in agreement. 

Republican lawmakers and pundits pounced on clips of the exchange, including Sen. Tommy Tubervile, R-Ala., who quipped that the GOP will expand its majority in the midterms. 

Singing also broke out both during the forum and the vote. Dr. Quintessa Hathaway was in the running for chair and belted out a song with the lyrics, ‘You fight on, when the government is doing you wrong, you fight on’ during the Thursday forum. She also sang another song ahead of the vote on Saturday vowing, ‘We shall overcome.’

Harrison was also spotted on camera singing on Saturday, delivering a rendition of Stevie Wonder’s ‘Happy Birthday.’ 

DNC members also ‘acknowledged’ during the vote that the U.S. was ‘built on indigenous lands.’

Ken Martin, who previously slammed Trump as a ‘traitor’ who should be prosecuted for treason, celebrated his win on Saturday, vowing to combat Trump and the Republican Party. 

‘We have one team, one team, the Democratic Party,’ Martin said following his victory. ‘The fight is for our values. The fight is for working people. The fight right now is against Donald Trump and the billionaires who bought this country.’

‘We need to go on offense,’ Martin said. ‘We’re going to go out there and take this fight to Donald Trump and the Republicans.’

Fox News Digital reached out to the DNC on Sunday for comment on the negative backlash over the gathering, but did not immediately receive a reply.  

Fox News Digital’s Paul Steinhauser contributed to this report. 

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Sen. John Fetterman, D-Pa., said the confirmation of Robert F. Kennedy Jr. to lead the Department of Health and Human Services is ‘not a slam dunk,’ as President Donald Trump’s nominee works to shore up support.

In an appearance on ‘Fox News Sunday,’ Fetterman said he has met with Kennedy twice in his office and that whatever his decision ends up being on the HHS nominee, it will be ‘an informed view.’ 

‘I’ve invested a lot of time to really understand his background and to learn more about the man,’ Fetterman said, adding: ‘I approached with an open mind and I watched the hearing. And that’s how the process works.’ 

Asked if he’s reached a decision on whether he’ll vote ‘yay’ or ‘nay’ for Kennedy, Fetterman said he has spoken to colleagues on both sides regarding the matter. 

‘It’s been challenging for sure. Absolutely. It’s certainly not a slam dunk for the nomination,’ Fetterman told ‘Fox News Sunday’ host Shannon Bream. 

‘I’ve made an investment to really understand and talk to all of the nominees, and I treated everyone with respect and I took the time to listen, and that’s been part of my commitment,’ he added.

Kennedy, a lifelong Democrat who switched his presidential campaign against Biden to run as an Independent before ultimately dropping from the race to back Trump, made it through back-to-back grillings by the Senate Finance Committee on Wednesday and the Health Committee on Thursday. He still faces crucial committee and full Senate confirmation votes in his mission to lead 18 powerful federal agencies that oversee the nation’s food and health.

Most of the tough questions and sparring over his stances on vaccines, abortion, Medicaid and other issues came from Democrats on the two committees, but Thursday’s hearing ended with the top Republican on the Health panel saying he was ‘struggling’ with Kennedy’s nomination.

‘Your past of undermining confidence in vaccines with unfounded or misleading arguments concerns me,’ Sen. Bill Cassidy, R-La., told the nominee.

The physician from Louisiana, who is a crucial vote and who has voiced concerns over Kennedy’s past stance on vaccines, asked whether Kennedy can ‘be trusted to support the best public health.’ The senator told Kennedy, who seeks to lead key health agencies like the Centers for Disease Control and Prevention, the Food and Drug Administration, the National Institutes of Health and the Centers for Medicare and Medicaid Services, that ‘you may be hearing from me over the weekend.’

Kennedy, whose outspoken views on the pharmaceutical and food industries have also sparked controversy, has said he aims to shift the focus of the agencies he would oversee toward promotion of a healthy lifestyle, including overhauling dietary guidelines, taking aim at ultra-processed foods and getting to the root causes of chronic diseases.

A strong pro-life advocate, Sen. Lindsey Graham, R-S.C., told ‘Fox News Sunday’ that he is supporting Kennedy despite the nominee’s past comments saying he supported codifying Roe v. Wade and abortion ‘even if it’s full term.’  

‘I am now OK to supporting RFK Jr. because I think during the course of the hearing he’s committed to a Republican pro-life agenda, President Trump’s pro-life agenda,’ Graham said when asked about those specific past remarks from Kennedy. ‘So I will take him at his word. I’m comfortable with what he said on the pro-life issue. He has been radically pro-choice as a person. But I do believe that as secretary, he will implement a pro-life agenda that will be pushed by President Trump. I will be a yes, but I’ll also watch every move he makes.’ 

Fox News’ Paul Steinhauser contributed to this report.

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‘This is NPR.’ That tagline has long been used for National Public Radio, but what it is remains remarkably in doubt. NPR remains something of a curiosity. It is a state-subsidized media outlet in a country that rejects state media. It is a site that routinely pitches for its sponsors while insisting that it does not have commercials. That confusion may be on the way to a final resolution following the election. NPR is about to have a reckoning with precisely what it is and what it represents.

While I once appeared regularly on NPR, I grew more critical of the outlet as it became overtly political in its coverage and intolerant of opposing views.

Even after a respected editor, Uri Berliner, wrote a scathing account of the political bias at NPR, the outlet has doubled down on its one-sided coverage and commentary. Indeed, while tacking aggressively to the left and openly supporting narratives (including some false stories) from Democratic sources, NPR has dismissed the criticism. When many of us called on NPR to pick a more politically neutral CEO, it instead chose Katherine Maher, who was previously criticized for her strident political views.

Some have long questioned the federal government’s subsidization of a media organization. NPR itself continues to maintain that ‘federal funding is essential’ to its work. However, this country has long rejected state media models as undermining democratic values.

This funding is likely more important, given NPR’s cratering audience and revenue. The NPR’s audience has been declining for years. As a result, NPR has been forced to make deep staff cuts.

Ironically, NPR has one of the least diverse audiences in media. Its listeners are is overwhelmingly white, liberal, and more affluent than the rest of the country. Yet, while serving fewer and fewer people, it still expects most of the country to subsidize its programming.

Many of us have argued that NPR should compete with other radio companies in the free market. Notably, some Democratic leaders have pushed to get Fox News dropped from cable news carriers despite the fact that it is not government subsidized and consistently ranks as the most-watched cable news network. (For full disclosure, I am a legal analyst at Fox.)

NPR and PBS are facing calls for the subsidy to be removed at long last. However, at the same time, pressure is coming from the Federal Communications Commission. FCC Chair Brendan Carr is inquiring about NPR’s claim that it does not do commercial advertising.

Many of us have noticed that NPR has ramped up its sponsor statements with taglines about the products or firm’s clientele. Carr wrote, ‘I am concerned that NPR and PBS broadcasts could be violating federal law by airing commercials. In particular, it is possible that NPR and PBS member stations are broadcasting underwriting announcements that cross the line into prohibited commercial advertisements.’

The support for noncommercial radio and television stations fell under different regulations. It is hard to see the sponsor acknowledgments as anything other than commercial advertising. It is common for for-profit outlets to have hosts read commercial sponsors.

Noncommercial educational broadcast stations, or NCEs, are prohibited under Section 399B of the Communications Act from airing commercials or other promotional announcements on behalf of for-profit entities. 

What is interesting is that NPR stresses in its sponsor guidelines that the ‘NPR way’ is actually a better method to reach consumers:

‘Across platforms, NPR sponsor messages are governed by slightly different regulations, but the guiding spirit is the same: guidelines are less about what’s ‘allowed’ and more about the approach that works best for brands to craft sponsor recognition messages that connect with people in ‘the NPR way,” read the guidelines.

What is striking is how NPR’s shrinking audience righteously opposes any effort to cut off public subsidies. While dismissing the values or views of half the country, they expect those citizens to support its programming.

It is common for law firms or companies to have hosts herald their work in given areas. It is also common to have product references.

The thrust of NPR’s pitch to advertisers is that this is a different type of pitch to attract more customers. However, the federal government has long ignored the obvious commercial advertisement. 

There is little discernible difference between NPR and competitors beyond pretense when it comes to bias or promotions. What is striking is how NPR’s shrinking audience righteously opposes any effort to cut off public subsidies. While dismissing the values or views of half the country, they expect those citizens to support its programming. What would the reaction be if Congress ordered the same subsidy for more popular competitors like Fox Radio?

I would oppose a subsidy for Fox as I do for NPR. Each outlet should depend on its viewership for support. Notably, many liberal outlets continue to maintain their biased coverage despite falling ratings and revenues. The Washington Post has had to again lay off employees and has lost roughly half of its readership. 

After being called in to right the ship, Washington Post publisher and CEO William Lewis delivered a truth bomb in the middle of the newsroom by telling the staff, ‘Let’s not sugarcoat it…We are losing large amounts of money. Your audience has halved in recent years. People are not reading your stuff. Right? I can’t sugarcoat it anymore.’

Nevertheless, writers at the LA Times and other outlets continue to argue against balanced coverage. They would rather lose readers and revenue than their bias. So be it. These outlets have every right to offer their own slanted viewpoints or coverage. They do not have a right to a federal subsidy to insulate them from the response of consumers. 

It is time to establish a bright-line rule against government subsidies for favored media outlets. ‘This is NPR’ but it is not who we should be as a nation.

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President Donald Trump repeated his suggestion that Canada become the 51st on Sunday, noting that it would not be subjected to his incoming tariffs should the country join the U.S.

‘We pay hundreds of Billions of Dollars to SUBSIDIZE Canada. Why? There is no reason,’ Trump wrote on TRUTH Social. ‘We don’t need anything they have. We have unlimited Energy, should make our own Cars, and have more Lumber than we can ever use. Without this massive subsidy, Canada ceases to exist as a viable Country. Harsh but true!’ 

‘Therefore, Canada should become our Cherished 51st State,’ Trump added. ‘Much lower taxes, and far better military protection for the people of Canada – AND NO TARIFFS!’ 

Trump has for weeks suggested the United States should take control of Canada through economic pressure.

Citing the flow of illicit drugs across the northern border, Trump signed an order Saturday to implement a 25% tariff on goods entering the United States from Canada. The order, which takes effect Tuesday, also puts a 10% duty on energy or energy resources from Canada. The order states, ‘gang members, smugglers, human traffickers, and illicit drugs of all kinds have poured across our borders and into our communities,’ adding that ‘Canada has played a central role in these challenges, including by failing to devote sufficient attention and resources or meaningfully coordinate with United States law enforcement partners to effectively stem the tide of illicit drugs.’ 

Trump also said he would implement tariffs of 25% on goods from Mexico, as well as 10% on imports from China due to the flow of drugs across U.S. borders.

Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum both vowed retaliation on Saturday. 

‘We categorically reject the White House’s slander of the Government of Mexico for having alliances with criminal organizations, as well as any intention to interfere in our territory,’ Sheinbaum said, adding that she instructed her administration officials to implement ‘tariff and non-tariff measures in defense of Mexico’s interests.’ 

Trudeau said Canada would impose 25% tariffs on $155 billion of U.S. goods, including ‘immediate tariffs on $30 billion worth of goods effective Tuesday, followed by further tariffs on $125 billion worth of American products in 21 days.’ 

‘I don’t think we’re not at all interested in escalating, but I think that there will be a very strong demand on our government to make sure that we stand up for the deal that we have struck with the United States,’ Canadian Ambassador to the U.S. Kirsten Hillman told ABC News’ ‘This Week’ on Sunday. 

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Costco and the Teamsters union have reached a tentative agreement on a new contract, avoiding a strike, the union said Saturday.

Teamsters spokesman Matthew McQuaid confirmed the agreement, which will have to be approved by members. Details of the agreement weren’t immediately available. The Associated Press left a message seeking comment with Costco.

The Teamsters union represents 18,000 Costco workers in six states: California, Washington, Maryland, Virginia, New Jersey and New York. Overall, Costco has 219,000 U.S. employees and 617 U.S. stores. The company said its labor agreement with the Teamsters applies to less than 10% of those stores.

On Jan. 20, Teamsters members at Costco voted overwhelmingly in favor of a strike if a new three-year contract agreement wasn’t reached by midnight Friday, when the current contract expired.

Union members wanted the Issaquah, Washington, company to make a contract offer that reflects its sales and profit growth. Costco’s revenue rose 5% to $254 billion in its most recent fiscal year, which ended Sept. 1. The company reported net income of $7.36 billion, double its profit in 2019.

“Costco Teamsters deserve an industry-leading contract that reflects the company’s massive profits. If Costco thinks they can exploit our members while raking in billions, we’ll shut them down,” Teamsters General President Sean O’Brien said in a statement.

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Israeli Prime Minister Benjamin Netanyahu left for the U.S. on Sunday to meet with U.S. President Donald Trump, looking to strengthen ties with the U.S. government following tensions with the Biden administration over the war in Gaza.

Netanyahu departed for Washington amid the ceasefire with Hamas – which includes hostage releases – still in effect and negotiations for a second phase expected to begin this week. He will be the first foreign leader to visit Trump since his inauguration on Jan. 20.

‘The fact that this will be his first meeting with a leader of a foreign country since his inauguration holds great significance for the State of Israel,’ Netanyahu said in a statement.

‘First of all, it indicates the strength of the alliance between Israel and the United States. Secondly, it also reflects the strength of our connection; a connection that has already yielded great things for the State of Israel and the region, and has also brought about the historic peace agreements between Israel and four Arab countries – the ‘Abraham Accords’ that President Trump led,’ the prime minister continued.

This comes nearly 16 months after the war in Gaza began, prompted by Hamas’ Oct. 7, 2023, attack against Israel, leading to military retaliation from Israeli forces.

‘The decisions we made during the war, combined with the bravery of our IDF soldiers, have already changed the face of the Middle East,’ Netanyahu said. ‘They have changed it beyond recognition. I believe that with hard work alongside President Trump, we can change it even more for the better.’

‘Our decisions and the courage of our soldiers have redrawn the map. But I believe that working closely with President Trump, we can redraw it even further and for the better,’ he added.

Netanyahu and former U.S. President Joe Biden experienced tension in their relationship during the last administration in Washington, and the Israeli prime minister has not visited the White House since returning to office at the end of 2022.

‘We can strengthen Israel’s security, we can expand the circle of peace even further, and we can bring about a wonderful era that we never dreamed of. An era of prosperity, security, and peace from a position of strength,’ Netanyahu said. ‘The strength of our soldiers, the strength of our citizens, the strength of Israel, and the strength of the alliance between Israel and the United States.’

Fox News’ Yael Rotem-Kuriel and Reuters contributed to this report.

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A Russian strike on a residential building in central Ukraine killed at least 14 people, including two children, emergency services said, one of many attacks across the country this weekend.

Ukrainian President Volodymyr Zelensky said Russia targeted the building in Poltava early Saturday morning, calling the attack “another terrorist crime.”

There has been no let up in the fighting in Ukraine, even with Donald Trump now in the White House having promised to reach a ceasefire quickly.

Ukraine’s army continues to be pushed back on the eastern frontlines in the face of superior Russian manpower and resources.

Among the victims of the strike in Poltava was Olena Yavorska, her husband Dmytro and their 9-year-old daughter Sofia, according to Olena’s colleague, who posted a statement on Facebook.

“Russia killed our colleague and her family,” Volodymyr Popereshniuk, co-owner of Nova Poshta, a Ukranian logistics company where Olena worked, said Sunday. “Olena was a biology teacher by education, but in 2015 she joined Nova Poshta. The Yavorsky family resided on the second floor of the destroyed building.”

Emergency services and psychologists from the country’s national police department are providing help to nearly 200 people, the state emergency service said Sunday. Rescue operations are ongoing, it added.

Meanwhile, Ukraine and Russia traded blame over a deadly strike on a former boarding school on Saturday in Russia’s Kursk region, where Ukrainian troops have been holding territory after launching a shock incursion last summer.

The Ukrainian military said the Russian air force struck the school in the town of Sudzha with a guided aerial bomb, killing at least four people as locals were sheltering in the building and preparing to evacuate. At least 84 more people were rescued and four are in “serious condition,” the Ukrainian military said, calling the attack a “war crime.”

At the same time, the Russian military blamed Ukraine for the attack on the boarding school, also calling it a “war crime.”

“The launch of enemy missiles from the [Ukrainian] Sumy region was detected by Russian air defense systems,” the Russian military said in a statement Sunday.

The statement went on to accuse Ukraine of using the “provocation” to distract global “public opinion from [Ukraine’s] atrocities” in a separate area of the Kursk region.

The spat occurred as Ukraine’s air defenses shot down dozens of drones overnight as Russia carried out fresh attacks, the country’s air force said Sunday.

In total, the air force said it downed 40 out of the 55 drones launched in areas across the country, including the capital Kyiv, but added that Kharkiv and Sumy regions were impacted by the “enemy attack.”

Ukrainian energy infrastructure was also targeted in multiple regions on the night of February 1, Ukraine’s air force added.

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The artificial intelligence (AI) landscape shifted dramatically this week with the emergence of DeepSeek, a Chinese startup that’s challenging the status quo. Tech stocks tumbled in response, as did cryptocurrencies.

Meanwhile, Big Tech companies offered a mixed bag in their quarterly earnings reports.

Read on to learn more about the biggest technology stories this week.

1. DeepSeek shakes up tech stocks

DeepSeek, a Chinese AI startup, shook the tech world on Monday (January 27) after its latest model, called DeepSeek-R1, became the Apple Store’s most popular free app over the weekend.

DeepSeek-R1 is a reportedly cost-effective and open-source AI model that rivals OpenAI’s o1 in reasoning abilities. It emergence has raised questions about the competitive landscape of the rapidly evolving AI industry, and caused a sharp downturn in tech stocks, including a historic single-day market cap loss for NVIDIA (NASDAQ:NVDA).

Oracle (NYSE: ORCL) and Palantir Technologies (NASDAQ:PLTR) also saw heavy losses, and the Nasdaq-100 (INDEXNASDAQ:NDX) and S&P 500 (INDEXSP:.INX) both declined during the tech selloff.

Meta Platforms (NASDAQ:META) and Microsoft (NASDAQ:MSFT) saw smaller decreases. Chipmakers Taiwan Semiconductor Manufacturing Company (NYSE:TSM), Broadcom (NASDAQ:AVGO), Arm Holdings (NASDAQ:ARM) and Advanced Micro Devices (NASDQ:AMD) also suffered declines, although Apple (NASDAQ:AAPL) gained.

The news about DeepSeek has also sparked reactions from industry leaders like Sam Altman. Politicians have commented as ell, highlighting concerns about US competitiveness and prompting an investigation into whether DeepSeek managed to acquire high-end chips that the US has tried to restrict foreign access to.

Speaking at the House Republican Conference in Miami, Florida, on Monday, US President Donald Trump said DeepSeek’s release should be a “wakeup call” for US industries to be “laser-focused on competing to win.”

Some analysts and investors see this development as validation of AI’s potential, predicting increased ROI for companies using AI, a mid-cycle efficiency gain and further progress toward innovation. “The Jevon’s Paradox strikes again!” Microsoft CEO Satya Nadella tweeted on Sunday (January 26), referring to the theory that greater efficiency in the use of any given resource — AI computing, in this case — can result in increased demand for that resource.

Reports surfaced midweek that DeepSeek may have used data or models derived from OpenAI’s technology. Researchers for NewsGuard also reported that DeepSeek’s capabilities may have been overstated, given its poor performance on news-related queries and its susceptibility to jailbreaking that allows for malicious outputs.

Markets stabilized as Big Tech’s earnings reports were released and as the US Federal Reserve signaled that inflation remains under control and that labor market is “not a source of significant inflation pressures.”

NVIDIA, however, was not able to recoup its losses and ended the week down 3.82 percent. Oracle and Advanced Micro also finished the week in the red, while Broadcom, TSM, Arm and Palantir closed up between 4 and 12 percent.

2. Crypto market takes hit on DeepSeek news

Panic selling gripped the cryptocurrency market as well on Monday as investors reacted to DeepSeek headlines.

Bitcoin, which reached around US$106,400 on Saturday (January 25), tumbled to US$98,380 just ahead of Monday’s opening bell. The selloff slashed the crypto sector’s market cap by over 6 percent to below US$3.5 trillion.

Market sentiment, however, appears to have stabilized. The latest Bloomberg Markets Live survey indicates that investors believe these developments will have a limited impact on the “Magnificent Seven” tech stocks.

Bitcoin showed early signs of recovery before the Fed decided to leave rates unchanged on Wednesday (January 29). It retook US$105,000 on Wednesday after Chair Jerome Powell delivered a positive assessment of the labor market, but remained rangebound, failing to break US$106,000 and sliding back to just over US$102,00 as the market wrapped on Friday (January 31). Tariffs imposed by Trump are scheduled to go into effect on Saturday (February 1), leaving the near-term trajectory of the stock market — and risk-on assets like crypto — uncertain.

3. Hits and misses in Big Tech earnings

This week also brought quarterly earnings reports from major tech companies.

ASML Holding (NASDAQ:ASML) was the first to report, and saw its share price rise after it beat analysts’ predictions for earnings per share (EPS), revenue and its sales forecast for the first quarter of 2025.

The company reported EPS of 6.85 euros, exceeding the expected 6.68 euros, and quarterly revenue of 9.2 billion euros, surpassing the estimated 9 billion euros. Q1 2025 sales are projected to be between 7.5 billion and 8 billion euros, with net sales for the year expected to reach between 30 and 35 billion euros.

Also sharing their latest results this past week Meta, Microsoft and Tesla (NASDAQ:TSLA).

Microsoft reported a strong performance that beat estimates, but offered a revenue forecast for Q1 that came in below expectations, resulting in a more than 5 percent drop in its share price on Thursday (January 30) morning.

Meta also outperformed analysts’ projections and predicted revenue of around US$40 billion for Q1, along with significant investments in AI; however, the market had a better reaction to Meta’s results, sending its share price up after hours. Meta closed the week ahead by nearly 10 percent, while Microsoft is down 2.2 percent for the week.

Tesla’s EPS and revenue for Q4 came up short, but vehicle production and delivery surpassed estimates, and the company anticipates increased vehicle sales in 2025, supported by key initiatives like cheaper models, unsupervised Full Self-Driving and the launch of a robotaxi business later this year. Production of the Cybertruck, which is expected to be eligible for the Inflation Reduction Act consumer tax credit, is now set to begin toward the end of the year.

Tesla shares are up 2.45 percent for the week.

On Thursday, Apple’s Q1 2025 results beat revenue estimates with quarterly revenue of US$124.3 billion, a 4 percent annual increase. EPS rose 10 percent from last year to US$2.40, but iPhone sales declined compared to last year and fell short of estimates at US$69.1 billion, largely due to a loss of market share in China. The company projected that revenue will grow in the low to mid-single digits in Q1 and closed the week up 5.32 percent.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

DORAL, Fla. — The lawmaker in charge of House Republicans’ elections arm is feeling confident that the GOP can buck historical precedent and hold onto their majority for the entirety of President Donald Trump’s term.

The 2024 elections saw Republicans make significant inroads with Hispanic and Black voters.

National Republican Congressional Committee (NRCC) Chairman Richard Hudson, R-N.C., said progress would continue heading into the 2026 midterm elections.

‘We’ve done well with African Americans, comparatively,’ Hudson told Fox News Digital, referring to years prior. ‘We’ve put a lot more effort in reaching out to that community as well and letting them know that we want your votes, and we want to represent you, and we care about the issues that matter to you and your family.’

‘I think we can do better, and we’ll continue to attempt to do better. But, look, our message, our values, our principles are all universal.’

He said Republicans’ values also lined up with Hispanic and Latino voters, 42% of whom supported Trump, according to the Associated Press.

‘We are focused on the issues you care about,’ Hudson said the pitch was. ‘It’s crime in your neighborhoods. It’s education for your children. It’s securing the borders. It’s the price of things for your family. I mean, these are all things we campaigned on. But we deliberately went out into the Hispanic community and said, ‘We want your vote.’ And they responded.’

Earlier in the interview, he credited Trump with delivering on those values in 2024, and argued that Trump’s policies would get Republicans over the line again next year.

Historically, the first midterm after a new presidential term serves as a rebuke of the party in power.

Democrats won the House of Representatives in a ‘blue wave’ in 2018 during Trump’s first term. Four years later, Republicans wrestled it back under former President Joe Biden.

But the circumstances are somewhat different this time, something Hudson noted.

‘We’re in a unique time in history, where you had a president serve four years with all his policies, and then he was replaced by another president who had completely different policies. . . . And then the two ran against each other,’ Hudson said. ‘So the American people sort of had a referendum on which president they wanted, which policies they chose, and they overwhelmingly selected Donald Trump.’

Trump is in his second term, and Hudson argued that the 2024 presidential race was a referendum between two clear White House records.

‘He has a mandate that I think is unique in history. And so this isn’t a first-term president going into his first midterm. I mean, this is someone the American people know, and they’ve chosen,’ Hudson said.

Hudson also pointed out that Democrats will be defending 13 lawmakers whose districts Trump won, while Republicans only had to hold onto three seats that voted for former Vice President Kamala Harris in 2024.

‘The battlefield out there for us going into 2026 favors Republicans,’ Hudson said. 

He spoke with Fox News Digital at Trump National Doral golf course and resort in South Florida, where Republicans held their three-day retreat to strategize their agenda.

Hudson was one of the senior Republicans who gave a presentation to fellow lawmakers during the event, where his message was: ‘We’re on offense this cycle.’

‘We’re going to lean in. We have a lot of opportunity in those Donald Trump seats,’ Hudson said he told colleagues. ‘We’re going to hold Democrats accountable for their voting against the policies the American people want.’

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