News

US stocks rebounded on Wednesday after the Trump administration announced a one-month reprieve on auto tariffs for Canada and Mexico, easing investor concerns about a global trade war. The Dow Jones Industrial Average jumped 486 points, while the S&P 500 and Nasdaq Composite gained 1.12% and 1.46%, respectively.

The Consumer Financial Protection Bureau is suing Capital One for allegedly cheating millions of consumers out of billions of dollars in interest payments on their savings accounts. The agency claims that Capital One froze interest rates on its "360 Savings" accounts and launched a new account with better rates without informing existing customers, resulting in over $2 billion in lost interest payments.

Two federal judges blocked parts of President Trump's executive orders targeting law firms Jenner & Block and WilmerHale, citing concerns about retaliation against protected speech and potential chilling effects on free speech and legal advocacy. The judges found the orders likely unconstitutional and expressed concerns about their impact on the firms' ability to represent clients and access government buildings.

Google has agreed to acquire cybersecurity firm Wiz for $32 billion, marking the tech giant's largest acquisition to date and a significant investment in cloud security. This deal is expected to boost dealmaking activity, which has slowed down recently due to market turbulence and weakened CEO confidence.

President Trump's economic policies have shifted during his second term, with a focus on slashing government spending and imposing tariffs, despite market volatility and concerns about their impact on the economy. Investors are uncertain about the potential consequences of these policies, with some fearing a recession if the administration does not adjust its course.