Watch live coverage as President Trump meets with New York City Mayor-elect Zohran Mamdani for the first time in the Oval Office. Mamdani, a self-described democratic socialist whom the president has derided as a “communist,” has said he proposed the meeting in part to “address the affordability crisis” in New York City. MS NOW: My Source for News, Opinion, and the World. Same mission. New name. » Subscribe to MS NOW: https://www.youtube.com/@msnow MS NOW is the go-to destination for domestic and internatio ...

Core Insights - Target has issued warnings about its business performance, cutting its full-year profit guidance and anticipating a weak holiday season due to consumer affordability issues [1][2] Financial Performance - Net sales decreased by 1.5% year over year to $25.3 billion, slightly above estimates of $25.04 billion [7] - Gross profit margin was 28.2%, compared to 28.3% a year ago and above estimates of 27.51% [7] - Diluted earnings per share fell by 3.9% year over year to $1.78, surpassing estimates of $1.73 [7] - Comparable sales dropped by 2.7% year over year, contrasting with an estimate of +0.3% [7] - Digital comparable sales increased by 2.4% [7] Consumer Behavior - Consumers are being selective with their spending, focusing on essentials and seeking deals on discretionary items [2] - The number of transactions has declined year over year, with sales falling in discretionary categories like beauty and home furnishings [3] Strategic Initiatives - Target plans to increase capital expenditures by 25% in 2026 to enhance store appearances [3] - The company recently reduced prices on 3,000 food and household essential items [3] Leadership Changes - Incoming CEO Michael Fiddelke, a veteran of Target, will officially take over on February 1, 2026, expressing confidence in navigating the evolving macroeconomic environment [4] Analyst Sentiment - Most analysts maintain a Neutral or Sell rating on Target's stock, despite a 35% decline this year [5] - Concerns include long-term sales and margin risks due to slowing digital sales growth, tariff impacts, and competitive pressures from Walmart and Amazon [5][6]

Core Insights - Target has issued significant warnings regarding its business outlook for 2025, including a reduction in full-year profit guidance and expectations for a weak holiday season due to consumer affordability challenges [1][2] Financial Performance - Net sales decreased by 1.5% year over year to $25.3 billion, slightly above estimates of $25.04 billion [7] - Gross profit margin was 28.2%, a slight decline from 28.3% a year ago, and better than the estimated 27.51% [7] - Diluted earnings per share fell by 3.9% year over year to $1.78, surpassing estimates of $1.73 [7] - Comparable sales dropped by 2.7% year over year, contrasting with an estimated increase of 0.3% [7] - Digital comparable sales increased by 2.4% [7] Consumer Behavior - Consumers are being selective with their spending, focusing on essentials and seeking deals on discretionary items [2] - There has been a noticeable decline in transactions and sales in discretionary categories such as beauty and home furnishings [3] Strategic Initiatives - Target plans to increase capital expenditures by 25% in 2026 to enhance store appearances [3] - The company recently reduced prices on 3,000 food and household essential items to attract cost-conscious consumers [3] Leadership Changes - Incoming CEO Michael Fiddelke, a long-time Target veteran, will officially take over on February 1, 2026, succeeding Brian Cornell [4] Market Sentiment - Analysts generally hold Neutral or Sell ratings on Target's stock, despite a 35% decline in share price this year [5] - Concerns include long-term sales and margin risks due to slowing digital sales growth, tariff impacts, and competitive pressures from Walmart and Amazon [5][6]

My team reached out to the White House to fulfill a commitment I made to New Yorkers over the course of this campaign. A commitment that showed a willingness to meet with anyone and everyone so long as it was to the benefit of the 8 and a half million people that call the city their home and so long as it would help to address the affordability crisis that is pushing so many of them out of this city. And SNAP is a critical part of that because what we see is that New Yorkers are struggling to afford groceri ...

If you look at the leads of the New York Times and the Washington Post, uh what it shows is something that I actually found was was one of my favorite sayings. Uh it's proving one of my favorite sayings uh that that that came out of my time in Washington DC. Paul Simon, who not the singer, but the senator from Illinois when he was leaving Washington, someone asked, "Well, what have you learned in Washington? What's the one big takeaway?" And Senator Simon said, "Well, in politics, sometimes when you win, yo ...

Time now for money power politics. The elections last week made it clear that voters care about affordability in this country and some would call it an affordability crisis. But the administration, they're not hearing it.I want you to watch what Treasury Secretary Scott Besson said on our air this morning. >> The economy under President Trump's been very resilient and you know, growth has exceeded expectations almost every quarter. We inherited an affordability crisis.We have slowed the price increases down ...

Government Shutdown Impact - The government shutdown had a negative impact on GDP, potentially ranging from 1% to 1.5% [2][3] - The shutdown initially cost \$1 billion to \$2 billion per day, escalating to \$15 billion per week [6] - Concerns arose about potential food shortages due to unpaid food inspectors [6] - Airline executives expressed worries about their businesses due to the shutdown [8] Affordability and Inflation - Affordability remains a significant issue for voters, impacting their ability to afford home heating, food, housing, and cars [9][10] - The administration believes they inherited an affordability crisis and are working to slow price increases and increase real wages [21] - The administration argues that Democrats are using a "con job" to suggest costs are up, despite gasoline prices being down [18][20] - The Treasury Secretary believes tariffs help consumers by bringing down the budget deficit and inflation [26] Economic Outlook and Job Security - The Treasury Secretary highlights the importance of bringing back manufacturing jobs to the US to improve job security [45] - The administration is optimistic about the potential for job growth due to a capex boom [52] - Younger Americans are encouraged to become AI literate to succeed in the job market [51][52] Argentina Bailout (Swap Line) - The US government provided a line of credit to Argentina, described as a swap line, to stabilize the government during an election [35][36] - The US government claims to have already made a profit on this swap line [40][41]

Government Shutdown & Legislation - The Senate passed a bill to reopen the government with bipartisan support (52 Republicans, 7 Democrats, and 1 independent), combining spending bills and a stop-gap measure to fund the government through the end of January [1] - The bill reverses mass layoffs and blocks additional firings but does not extend health care subsidies [2] - Speaker Johnson is aiming to clear the legislation in the House, but cannot guarantee a vote [2][3][4] Political Landscape & Midterm Elections - Republicans suffered politically in Virginia due to cuts affecting food assistance and healthcare access, impacting Biden-won districts [7] - Every county in Virginia moved toward the Democrats, indicating concerns about affordability [9] - Some counties that hadn't voted Democratic since LBJ shifted, suggesting a potential negative forecast for Republicans in the midterm elections [12] - The Democratic party is perceived to have won the shutdown, with Trump's disapproval ratings increasing [25] Affordability Crisis & Voter Sentiment - Affordability is a key issue for Americans, impacting their daily lives at grocery stores, gas stations, and doctor's offices [15][16] - There's a sense that something is wrong with the government, with voters feeling disconnected from their representatives [17] - Trump's denial of the affordability crisis as a "con job" is seen as out of touch with voters' realities [20][31] - The House of Representatives has been in session for only 20 days in the last 18 weeks, leading to anger over abdicated responsibility [22]

Political Strategy & Analysis - The Democratic coalition has expanded to include both moderates and socialists [1] - Winning candidates share the characteristic of understanding and addressing the specific issues relevant to their communities [2] - Candidates are aiming to replicate successful strategies for the 2026 midterms [3] - A key strategy involves candidates authentically representing themselves, allowing voters to see themselves reflected in politics [12] - Showing up in unexpected places and engaging with diverse communities is crucial for building broad support [13][15] Campaign Tactics - Focus on affordability as a key issue that resonates with voters, even when public safety is perceived as the top concern [7][8] - Avoid applying the same playbook to every candidate; allow candidates to "cook" and be themselves [10][12] - Showing up in places people didn't expect is important [13] - A "both end strategy" involves campaigning on policies while also pushing back on Trump's broken promises [17][18] - Address the root causes of political issues, such as income inequality, rather than solely focusing on individual figures like Donald Trump [18]

Zoran Mandami is New York City's next mayor, the first Muslim to lead the city. His campaign leaned into diversity, posting videos of Mandani speaking different languages, eating ethnic food, walking all the streets, it felt like, of five burrows. It absolutely energized young voters and highlights a generational democratic divide.Namdani spoke directly to the working class, riding the bus to debates, making those 3:00 a. m. campaign stops to meet with cab drivers working the night shift, and earlier saying ...