Reuters US Domestic News Summary

Following is a summary of current US domestic news briefs.

Nvidia stock discounts China, but not other risks

Nvidia has lost its leather-jacketed CEO, and vaporized $1.3 trillion. That’s the decline in the company’s value between the first report in late October of founder Jensen Huang having a close relationship with a suspected Chinese spy, and Thursday’s announcement that he was stepping down as boss and from the board of directors. To put that figure in context, it’s effectively discounting the loss of all possible sales to Beijing and more. Whether that fairly ​accounts for longer-term risks from Huang's departure is less clear. Seven percent of revenue from the first six months of the company’s current fiscal year came from China and Hong Kong. That amount has declined, as US export restrictions have clamped tighter. The relevant question, however, is how much of sales to other regions actually end up in the People's ​Republic. Scrutiny over firms like Singapore-based Megaspeed could result in gray market, or clearly illicit avenues, shutting off.

White House set to extend Jones Act shipping waiver, sources say

President Donald Trump's administration is set to extend a waiver to a US ‌law in coming days allowing some ​foreign-flagged ships to transport oil and other commodities between US ports, four industry sources said on Thursday. The extension will require individual voyages to undergo case-by-case review rather than allowing foreign ships to receive blanket exemptions from the Jones Act, two sources said. The waiver is one of the tools the administration has used to try to lower diesel and gasoline prices, which have been driven higher by the wars in Iran in Ukraine.

Tim Cook for Nvidia CEO? Trump and the world ponder who's next

When it comes to the next CEO of Nvidia, Donald Trump is thinking outside the box. After the AI chip company's board parted ways with chief Jensen Huang, the US president said on social media on Thursday, "There is only one man to take his place - TIM COOK of Apple. A Legend replaces a Legend!"

White House tells Democrats that investigating Trump administration could be criminal

The White House has warned the Democrat set to lead the House of Representatives' oversight committee that investigations targeting the Trump administration could be considered criminal and themselves worthy of investigation. In a letter sent Monday to the incoming chairman of the House Oversight Committee Representative Robert Garcia, White House counsel Will Scharf said the ‌administration is "monitoring the abusive and capricious threats that are now proliferating from Democrat legislators" and said threats to officials may be deemed criminal.

Trump threatens to double tariffs on Mexico if it does not halt migrants

President Donald Trump threatened on Thursday to double tariffs on Mexico if it does not stop more than a thousand migrants walking north toward the United States after last week's US election, warning that they would not be allowed to enter. "Here we go again!" the Republican president wrote on social media. "They will not be accepted! MEXICO MUST STOP THEM, NOW, and if they do not do so, the Tariffs on Mexico will be IMMEDIATELY DOUBLED. MEXICO, THE GOVERNOR OF TEXAS, THE VERY LIBERAL NEW GOVERNOR OF TEXAS, OUR GREAT BORDER PATROL, & ICE, HAVE BEEN SO INFORMED. There will be no leniency!"

Democrat Colom wins Mississippi Senate seat, becomes state's first Black senator since 1874

Democratic challenger Scott Colom defeated incumbent Republican Cindy Hyde-Smith in the Mississippi election for the US Senate, media projected on Wednesday, making him the Southern state's first Black senator since the Reconstruction era that followed the US Civil War. The result was a stunning upset in the heavily Republican state and expanded on the national drubbing the Democrats delivered to President Donald Trump's Republicans in the November 3 midterm elections. It was also a historic victory for African Americans in a former slave state that was a hotbed of repression during the civil rights movement of the 1960s.

Fed chair discloses wife's transactions in pet-care investments

Federal Reserve Chairman Kevin Warsh's financial disclosure forms made public on Wednesday reported transactions on behalf of the central bank leader’s wife, Jane Lauder, related to a firm that invests in pet-care brands. Two ‌filings on the US Office of Government Ethics website under Warsh’s name list transactions in August and September in funds under the firm TAW LLC.

White House sends CFTC, SEC role picks to Senate for approval

The White House on Thursday sent bipartisan nominations for roles at the Commodity Futures Trading Commission and the Securities and Exchange Commission to the Senate for approval. The move comes as President Donald Trump's Republican Party is set to lose control of the chamber in January following last week's midterm election defeat.

Guard appears to rebuke Hegseth's delegation at Tomb of the Unknown Soldier

A US Army sentinel guarding the Tomb of the Unknown Soldier appeared to rebuke Defense Secretary Pete Hegseth's delegation on Wednesday after laughter could be heard as they climbed the steps of ‌the solemn site, according to a video of the incident. Hegseth, his wife and senior aides could be seen taking pictures and speaking to each other on the steps of the memorial at Arlington National Cemetery following a Veterans Day event.

Democrats are ready to fight Trump on immigration. But how much can they achieve?

Democratic lawmakers are gearing up to fight President Donald Trump’s immigration crackdown when in control of Congress next year, targeting ICE tactics and expanding paths to legal status despite limits on how much they can achieve. Democrats handily won control of both chambers of Congress last week, fueled in part by voters’ dissatisfaction with Trump’s aggressive arrest and deportation campaign. But lawmakers from both parties expect Stephen Miller, the architect of that campaign and Trump's new chief of staff, to go on driving immigration policy.

Exclusive-US FDA shelves commissioner's voucher program for speedy drug reviews, sources say

The US Food and Drug Administration has shelved the fast-track drug review initiative launched during the Trump administration by former Commissioner Marty Makary, according to six sources familiar with the matter and internal documents. Launched in June 2025, the Commissioner's National Priority Voucher program aimed to slash drug review timelines to just one to two months for therapies addressing national priorities, such as urgent unmet health needs. However, critics pointed to possible preferential treatment for companies meeting demands of President Donald Trump, like offering drugs at lower prices.

Hegseth awards medal to soldier who rebuked his group outside Tomb of the Unknown Soldier

Defense Secretary Pete Hegseth awarded a medal on Thursday to a US Army sentinel who appeared to admonish him and his aides for failing to adhere to proper decorum outside the Tomb of the Unknown Soldier on Veterans Day. Hegseth posted a picture of him pinning a medal on Army Specialist Thomas Iglesias as he stood alongside members of his unit, the 3d US Infantry Regiment, known as The Old Guard. Hegseth wrote: "We love soldiers. We love standards. Well done, Specialist. Carry on Patriots."

US Democratic senator wants assessment of ⁠whether Nvidia is 'too big to fail'

The top Democrat ​on the Senate Armed Services Committee said on Thursday he wants Congress to review whether AI chipmaker Nvidia is "too big to fail" and whether its possible failure would impact the US banking and credit markets. Senator Jack Reed ⁠of Rhode Island said Nvidia "has backstopped the AI ecosystem through complex financing transactions. We need full transparency into these deals, an assessment of whether the company is ‘too big to fail,’ and an analysis of how these events may affect the US banking system and credit markets."

US House Democratic Leader Jeffries wants 'dramatic change' in Middle East

US House of Representatives Democratic leader Hakeem Jeffries called on Thursday for "dramatic change" in the Middle East and reiterated his support for a two-state solution for Israel and the Palestinians. Democrats' sweeping victories in last week's midterm elections could lead to the curbing of US support for its close ally Israel, putting the spotlight on party leaders' views as they prepare to take control of both houses of Congress on January 3.

US to fund new research into psychedelic drug ibogaine for veterans with PTSD

The US government will spend up to $4.9 million to prepare for clinical trials of psychedelic drug ibogaine as a possible treatment for veterans with post-traumatic stress disorder (PTSD), ⁠Health Secretary Robert F. Kennedy Jr. said on Thursday.

President Donald Trump had allocated $50 million in April for research into ibogaine.

USPS plans 11% package fuel surcharge but no first-class stamp hike

The cash-strapped US Postal Service said on Thursday it is seeking approval for an 11% price hike for domestic priority mail and package deliveries in January to deal with rising fuel costs. USPS, which needs approval from the Postal Regulatory Commission for the price increase, said it was not planning to hike the price of first-class stamps in January, which rose in July from 78 to 82 cents.

Alaska judge rules against Democratic US Senate candidate's request for absentee ballot data

A judge ruled on Wednesday that a request by the campaign of Democratic US Senate candidate Mary Peltola of Alaska seeking the immediate release of records identifying absentee ballots was not reasonable. Peltola's campaign sued state election officials last week seeking the immediate release of ​records identifying absentee ballots that were rejected in the voting during this month's US midterm elections

US regional bank Hancock Whitney strikes around $3.2 billion deal for Trustmark

US regional lender Hancock Whitney will buy smaller peer Trustmark in a roughly $3.2 billion all-stock deal, the Mississippi-based banks announced on Thursday. The deal will strengthen Hancock Whitney's presence across the southeastern states, creating a combined Gulf South-focused bank with roughly $58 billion in assets, amid growing consolidation in the US regional banking industry.

Vance, Rubio, Ossoff and Buttigieg lead 2028 White House hopefuls, Reuters/Ipsos poll finds

Four potential contenders in the 2028 race for the White House have caught American voters' attention with their early jockeying: Republicans JD Vance and Marco Rubio and Democrats Jon Ossoff and Pete ⁠Buttigieg, according to the latest Reuters/Ipsos poll. None of the four has yet formally launched a campaign and the parties' 2028 nominating contests are more than a year away, leaving plenty of time for new contenders to emerge and for voters' views to change.

New York City building collapse kills 8, mayor expands probe

Rescue teams worked through torrential rain on Thursday and found no more victims in the rubble of a New York City apartment building collapse that killed at least eight people and prompted Mayor Zohran Mamdani to order an investigation into dozens of linked construction sites. A day after Wednesday's late-afternoon collapse in the city's Brooklyn borough, Mamdani said the city would examine five companies associated with a construction site adjacent to the collapse and 100 more sites connected with those entities.

Explainer-Can a new US Congress mean an end to the Iran war?

The American public wants the unpopular eight-month-long war on Iran to end, and showed it by handing President Donald Trump's Republicans a resounding defeat in last week's congressional elections. Trump acknowledged that unhappiness about ⁠the conflict ​contributed to his party's losses, but defends the war, both insisting that he has won it and saying it will continue.

Florida city says it will not host St Patrick's Day parade, Pride event due to anti-diversity law

A city in Florida said it will not host its annual St. Patrick's Day Parade or Pride event in 2027 due to a state law signed by Republican Governor Ron DeSantis that prohibits local governments from promoting or funding diversity initiatives. The city of Delray Beach said in a statement that restrictions under the law "include certain programming and activities designed or implemented with reference to ethnicity, sexual orientation, or gender identity."

Richard Posner, prominent US judge who butted heads with Justice Scalia, dies at 87

Former US Circuit Judge Richard Posner, a prolific jurist who ranks as the country's most-cited legal scholar of the last century and was viewed as one of the most influential judges outside the US Supreme Court, has died at 87. Posner, who had served on the Chicago-based 7th US Circuit Court of Appeals for 36 years until retiring in 2017, died on Tuesday, according to the University of Chicago Law School, where he had long taught.

US CDC confirms six measles-related deaths in 2026

The Centers for Disease Control and Prevention confirmed six measles-related deaths in the US this year, according to the agency's website on Thursday, as the country grapples with its worst resurgence of the virus in decades. The updated figure doubles the death toll recorded in 2025 and underscores the continuing spread of the highly contagious viral disease, which was declared eliminated in the United States in 2000.

Gunman kills one, ⁠wounds four in busy Washington, DC, neighborhood

A gunman killed one person and wounded four others in a busy Washington, DC, neighborhood on Thursday before barricading himself in his apartment and eventually taking his own life following a standoff, officials said. The suspect, whom police identified as Matt Lambert, 55, had been embroiled in a longstanding dispute with his condominium association over mold and moisture in his apartment.

Eight dead after Brooklyn apartment building collapses, NY mayor says

Eight people were killed when an apartment building in Brooklyn collapsed into a neighboring construction site on Wednesday, New York City Mayor Zohran Mamdani said. At least 17 people, including 3 firefighters were injured, Mamdani said on Thursday, as rescue operations continued.

Trump says US does not need Iran deal, directs Vance to focus ⁠on domestic corruption

President Donald Trump said on Thursday the US does not need a deal with Iran and directed Vice President JD Vance, who has played a role in efforts to resolve the war, to focus "his complete and ⁠total attention" on alleged crime and corruption in Democratic-run cities and states. Trump's directive came a day after the Wall Street Journal reported that Vance was considering face-to-face peace talks with a hard-line Iranian security official and a week after the vice president blamed the costly war with Iran for Republicans' midterm elections drubbing.

US labor market resilient; existing home sales hit more than 16-year low in October

The number of Americans filing new claims for unemployment benefits increased more than expected last week, but remained at a level consistent with a stable labor market, allowing the Federal Reserve to focus on fighting inflation. Economists expect layoffs to remain low through the end of the year, though seasonal volatility related to the holiday season could cause some spikes in the claims data. The government last week reported a surge in nonfarm payrolls in October and a decline in the unemployment rate to 4.1% from 4.2% in September. The resilience in the labor market is despite the ongoing Middle East conflict, which is boosting inflation.

SpaceX plans over $74 billion investment in Texas, Arizona AI campuses

SpaceX said on Thursday it plans to invest more than $74 billion in two supercomputing campuses, its Starbase site in Texas and ‌in Cochise County, Arizona, expanding its AI computing ambitions alongside rocket and satellite businesses. The AI segment of the Elon Musk-led company, which went public ‌in June, generated more than half of its revenue in the third quarter, highlighting how far the business has moved beyond rockets and Starlink satellite internet.

Trump says ex Apple CEO Cook is 'a legend', should replace Huang at Nvidia

US President Donald Trump said on Thursday that former Apple Inc Chief Executive Tim Cook should replace Jensen Huang as the CEO of Nvidia. "NOW THAT Nvidia CEO JENSEN HUANG, who ​has done a fantastic job, has resigned, there is only one man to take his place - TIM COOK of Apple," Trump said on social media. "A Legend replaces a Legend!" he added.