>>Opening Bell Rings This Morning After Rough Day On Wall Street
(New York, NY) -- The opening bell rings this morning after a rough start to February on Wall Street. Stocks did eventually manage to trim losses after a sharp sell-off over U.S. tariffs. At the closing bell, the Dow lost 122 points to 44-422. The S&P 500 fell 46 points to 59-94. The Nasdaq dropped 235 points to 19-392.
>>U.S. Delays Mexico, Canada Tariffs For One Month
(Washington, DC) -- Tariffs on Mexico and Canada will be put on hold for one month. President Trump's decision comes after he spoke with Mexican President Claudia Sheinbaum Monday morning, and Canadian Prime Minister Justin Trudeau in the afternoon. In a post on X, Sheinbaum said Mexico will send ten-thousand National Guard members to the U.S. border to prevent drug trafficking. Trudeau vowed Canada would spend over a billion dollars on a plan to reinforce its border. Tariffs against China did not get the same extension and as a result, China overnight announced plans to hit some imports from the U.S. with additional tariffs starting next week.
>>State Farm Seeks Emergency Rate Increase Averaging 22% After L.A. Fires
(Los Angeles, CA) -- California's largest home insurer is asking state officials for an emergency rate hike that averages 22-percent. State Farm General claims the Los Angeles County fires have had a significant impact on its ability to continue operating in California. State Farm said they're received at least 87-hundred claims and have paid more than one-billion-dollars to customers, adding that it expects to pay out even more. The company is asking for rate hikes of 38-percent for rental dwellings and 15-percent for tenants, with those rates taking effect on May 1st. State Farm said on Monday that the request is necessary to rebuild its capital base.
>>Economic Reports, Earnings Results In Focus
(Undated) -- Coming up in business news today, we'll get word on job openings. Keeping the focus on jobs, ADP's employment report is due Wednesday. That's followed by weekly jobless claims on Thursday. The attention on Friday will be on the government's monthly jobs report. Most analysts expect January saw a drop in new job creation, adding roughly 175-thousand, compared to the previous month's 256-thousand. As for noteworthy earnings reports, Google parent Alphabet and Spotify are set to announce their results today.
>>President Trump Creates U.S. Sovereign Wealth Fund
(Washington, DC) -- President Trump is creating an American sovereign wealth fund. Speaking while signing executive orders in the Oval Office Monday, Trump suggested it could help with the purchase of TikTok. The President said the fund will also be used to invest in things like airports, medical research and highways. The sovereign wealth fund is the first ever to be established in the history of the U.S.
>>ChatGPT "Deep Research" Launches
(San Francisco, CA) -- OpenAI is launching ChatGPT "Deep Research." The new AI agent can conduct complex research in fields like finance, science, policy, and engineering and deliver a complete response in five to thirty minutes. It's available to Pro users and is limited to one hundred monthly queries.
