President Trump, facing headwinds in public opinion, delivered a televised address from the White House, framing his economic and policy initiatives as critical to national progress and contrasting them with the preceding administration. “I inherited a mess,” Trump stated, asserting his administration’s success in “fixing it.”
Key takeaways from the address include:
* **Economic Messaging:** Trump highlighted the “largest tax refund season of all time,” attributing it to the tax and spending legislation enacted earlier in the year.
* **Military Bonus:** He announced a $1,776 “warrior dividend” for 1.45 million U.S. military personnel, a program estimated to cost approximately $2.5 billion.
* **Political Context:** The speech comes amid a dip in Trump’s approval ratings across various issues, including immigration and inflation. This also occurs as Republicans strategize to retain control of the House and Senate in the upcoming 2026 midterm elections.
* **Legislative Developments:** A vote is slated for the extension of Obamacare subsidies, following a notable defection from party leadership by four Republican lawmakers.
* **FBI Leadership Change:** FBI Deputy Director Dan Bongino announced his resignation, effective January.
* **Tragic Accident Acknowledgement:** The U.S. government acknowledged its role in the fatal collision of an Army Black Hawk helicopter and an American Airlines regional jet in January, which resulted in 67 fatalities. The admission cited missteps by U.S. Army personnel and the Federal Aviation Administration (FAA).
### November CPI Report Looms Amidst Inflation Concerns
Investors will be closely watching the release of the November Consumer Price Index (CPI) report, scheduled for 8:30 a.m. ET. This marks the first inflation data to be published following the conclusion of a significant government shutdown.
Economists project the year-over-year inflation rate to be 3.1%. Excluding volatile food and energy prices, core CPI is anticipated to stand at 3.0% annually. The Bureau of Labor Statistics has indicated that the November report will not include one-month percentage changes due to the cancellation of the October CPI release. This omission, occurring shortly before the Federal Reserve’s final policy meeting of the year, means critical inflation data will be unavailable to policymakers for their interest rate decision.
### Market Sentiment Shows Tentative Signs of Rebound
Stock futures indicated a positive opening as the market anticipates the inflation report.
* **Micron Technology** saw a significant surge in premarket trading, rising 10% after exceeding Wall Street’s expectations with its latest earnings and future outlook, particularly within the memory and AI sectors.
* **Darden Restaurants**, the parent company of Olive Garden, also experienced an upward trend in premarket activity, buoyed by an improved sales forecast.
* The broader market indices, including the S&P 500 and the Dow Jones Industrial Average, closed lower for the fourth consecutive session in the prior trading day.
* **Oracle** shares experienced a notable decline of over 5% following a report that a primary investor had withdrawn from a planned $10 billion data center project in Michigan, impacting the cloud infrastructure company’s prospects.
* In a notable development, **Trump Media and Technology Group** announced a merger agreement valued at over $6 billion with TAE Technologies, a fusion power company. This move signifies a diversification strategy for the entity operating President Trump’s Truth Social platform.
### Medline IPO Soars, Underscoring a Resilient IPO Market
Shares of medical supply giant Medline debuted on the Nasdaq with a remarkable 41% increase, marking the year’s largest initial public offering. The stock opened at $35, above its IPO price of $29, and closed its first trading day at $41 per share, valuing the company at approximately $54 billion.
Despite market volatility earlier in the year, including the impact of extensive tariffs and the prolonged government shutdown, over 200 IPOs have successfully priced in 2025. This activity represents the most significant U.S. listing since Rivian’s $13.7 billion offering in November 2021, according to available data.
### Delta Air Lines President to Retire
Glen Hauenstein, President of Delta Air Lines, who played a pivotal role in establishing the carrier as an industry profit leader, will retire at the end of February. Hauenstein, who joined Delta two decades ago, was instrumental in the airline’s strategic focus on premium offerings and enhanced passenger experiences. This strategy, while successful in driving revenue, led to some customer service challenges, such as increased wait times and capacity restrictions at popular Delta Sky Clubs.
### The Daily Dividend: Oscars Move to YouTube
In a significant shift for broadcast media, the Academy of Motion Picture Arts and Sciences has entered into a multiyear agreement with YouTube to stream the Oscars ceremony. The deal, commencing in 2029 and extending through 2033, will also encompass the streaming of pre-show and red carpet coverage, signaling a move away from traditional television broadcasts.
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