Locator: 48703TOPSTORIES.
China: blinks.
Geoff Simon's quick connects. Link here.
ABC’s Terry Moran suspended by network: unprofessional texting. Quick! What’s ABC worried about?
Tax evasion: California's governor Newsom suggested California may not pay the federal taxes that California owes the federal government; that's tax evasion.
ICE -- National Guard -- California: fight's on. Governor Newsom takes the side of the protestors.
- send in the US Marines and the National Guard:
- first tranche of 2,000 soldiers sent in over weekend
- President Trump says he's sending in
500700 US Marines to protect federal buildings in southern California - when we lived in Los Angeles, if we had to mail a letter after hours, my wife didn't trust just any post office -- we drove "half-way across town" to get to the "Federal building" to mail our letter -- that's the type of building the US Marines will be sent to protect.
- there's no way the LA mayor would be able to protect that building and Governor Newsom is unlikely to even know it's there.
- second tranche of 2,000 national guard soldiers announced by President Trump on Monday, June 9, 2025
- puts a lot of federal money at risk, including $4 billion for California's hobby horse, the bullet train.
- fortunately, the state is on record as saying they don't need federal money to keep the project alive.
- July 17, 2025: Trump won't further fund the California bullet train; at risk, $4 billion. Will end up in court, but the writing is on the wall.
- Governor Newsom says the "rioting" is not any worse than what Californians see / experience after sports events;
- many folks interpret that to mean the governor has no problems with Federal agents being physically attacked.
- time for President Trump to start airing fireside chats on a periodic basis when events call for a presidential response / reply
- it would be must-watch television
- notify the opposition party at COB on the day the event would be aired 9:00 p.m. ET which would give opposition party to find a "paschal" lamb to reply
Trump -- Musk: public break-up. Trump doesn't sound like he's much interested in this story at the moment. Bigger fish to fry as they say.
Trump -- Powell: Trump calls the Fed chairman "too late Powell." Some think Trump may be right.
Russia - Ukraine: Ukraine takes out a third of Russia's strategic bomber fleet. With drones. Operation Spiderweb. Even JD Vance has to be impressed.
US Supreme Court: so far so good. Chief Justice Roberts is holding things together. He needs to get a handle on appellate court rulings. Somehow, local courts and appellate courts should not be ruling on presidential executive orders. When the US Supreme Court is unanimously ruling against appellate rulings, something suggests appellate courts are ruling inappropriately. And most "appellate courts" are simply rulings by a single judge.
Unanimous: US Supreme Court rules unanimously in favor of a Catholic Services group. Link here. The three rulings in this story were no-brainers, but it's refreshing that the court unanimously agreed in all /most cases.
Almost unanimous:
- Supreme Court allows DOGE access to Social Security Administration records, lifting a lower court order.
- Justice Ketanji Brown Jackson dissented, arguing the court rushed before lawful access was determined. [I am not necessarily agreeing with the weakest link on the US Supreme Court, but I have to say that I am quite amazed at the ruling.]
- DOGE, once led by Elon Musk, aims to streamline government and detect fraud with the data.
May unemployment report: new jobs way better than expected. Unemployment stays unchanged at 4.2. Does not look like a recession to me. At least not this week. LOL.
Broadcom (AVGO): link here.
Market: 4:30 p.m. CT, one-half hour after the close; Friday, June 6, 2025:
