Stock Market Update

[BRIEFING.COM] The major indices continue to cruise in positive territory with conviction on the part of buyers and sellers slowing.

Separately, President Trump is holding his first Cabinet meeting and acknowledged the following there:

• We need to get prices down
• He is not dropping the tariffs on Canada and Mexico
• Ukraine President Zelensky will visit Washington Friday to sign the minerals deal
• DOGE is one of the most important initiatives; said we have a mandate to do this and that it is one reason why he was elected
• Wants a balanced budget in a reasonably short amount of time

Elon Musk was also present at the Cabinet meeting and was asked by the president to give an update on DOGE. Mr. Musk said the country cannot sustain $2 trillion deficits, that we need to move quickly if we are going to find $1 trillion in savings in 2026, that the country will go bankrupt if we don't cut spending, and that the goal of his email to government employees asking them to list five accomplishments was not a performance review but an effort to determine if the government employees are real.