TJX Companies, the parent of TJ Maxx, issued a cautious profit forecast for the current quarter, predicting earnings below analysts' consensus. The company blamed tariff costs on merchandise commitments made before new tariffs were implemented in March and April. Despite beating earnings estimates last quarter and seeing a 5% rise in total sales, this outlook triggered a 2.1% drop in its stock price, ending a streak of post-earnings gains. Comparable-store sales also grew slightly less than expected. While TJX's shares have still outperformed the S&P 500 in 2025, the profit warning serves as a reminder that trade tensions, described as "Trump tariffs," can impact even discount retailers.
House Republicans, including Rep. Nick LaLota, are nearing a deal to significantly raise the state and local tax (SALT) deduction cap to $40,000 from the current $10,000 limit. This proposed increase could potentially help clear a hurdle for passing President Trump's tax-and-spending bill in the House. The deal includes phasing out the higher cap for incomes above $500,000 and an annual 1% growth, with the increase being permanent rather than temporary. However, the proposal faces pushback from Republicans in lower-tax states who view it as unfairly subsidizing high-tax "blue states" and potentially complicating the bill's fiscal objectives. Reaching this compromise highlights the difficulty Republicans face in uniting different factions to pass the bill.
The European Union has decided to lift economic sanctions on Syria to support the country's recovery and rebuilding efforts after years of civil war. Announced by EU foreign policy chief Kaja Kallas, this move aims to help foster a "new, inclusive, and peaceful Syria". While economic sanctions are being removed, restrictions targeting the Assad regime and security-related measures will remain in place. Syria's foreign ministry welcomed the decision, seeing it as an opportunity for renewed collaboration with European businesses and investors. This action by the EU follows a similar decision by the United States just one week prior, indicating a broader international trend towards engaging with Syria's new interim government.
The Trump administration's FDA has announced a major policy shift regarding routine COVID-19 vaccinations for healthy younger adults and children. Under a new framework, routine annual COVID shots will no longer be recommended for these groups. Moving forward, only adults aged 65 and older or younger individuals with health risks will have streamlined access to updated vaccines. Healthier individuals will face stricter requirements for vaccine approval. This change, outlined in the New England Journal of Medicine, criticizes the previous "one-size-fits-all" approach and notes uncertainty about the benefits of repeated boosters for healthy people. Experts have expressed concern that this policy could reduce vaccine availability and insurance coverage for many. The policy reflects a reevaluation of COVID vaccine strategies.
Two Navy SEALs are facing discipline for circulating racist memes targeting a Black teammate in a group chat over several years. An investigation into the incident at SEAL Team 4 uncovered failures in leadership for not properly addressing the sailor's repeated complaints. The offensive memes depicted the sailor as a slave and monkey. The sailor's SEAL status was initially revoked but has since been reinstated, and he has been awarded back pay. The two sailors involved face potential career-derailing punishments, while several leaders are under administrative review. Naval Special Warfare Command has pledged accountability and reaffirmed its commitment to dignity and respect. This case highlights ongoing challenges with diversity and leadership within elite military units.
A leaked email reportedly reveals that Joe Kent, chief of staff to DNI Tulsi Gabbard, pressured intelligence officials to revise a report so it could not be "used against" President Trump. The original assessment reportedly contradicted Trump's claims linking the Venezuelan Tren de Aragua gang to the Venezuelan government. Kent allegedly sought edits to make the report align with the administration's narrative, urging officials to portray the gang leaders as having sanctuary in Venezuela while committing crimes in the U.S.. He reportedly wrote, "We need to do some rewriting... so this document is not used against the DNI or POTUS". Kent also reportedly blamed the Biden administration for the migrant crisis, stating it provided logistical support for the gang's operations. These leaked documents have reportedly caused alarm among intelligence officials regarding the potential politicization of intelligence analysis.
