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President Donald Trump wants to do away with the quarterly earnings report.

In a post on Truth Social, Trump said securities regulators should stop requiring companies to issue financial reports every three months and instead switch to a six-month reporting period. The Securities and Exchange Commission has required publicly traded companies to report on a quarterly basis since 1970.

“This will save money, and allow managers to focus on properly running their companies,” Trump wrote.

Trump asked the SEC to examine the three- versus six-month reporting requirement during his first term. No change was made.

Supporters of the change say quarterly reporting is too costly and time-consuming and discourages companies from wanting to go public. They also say company executives focus too much on hitting quarterly earnings targets and not enough on long-term planning.

The Long-Term Stock Exchange has also been calling for a shift in how often companies are required to report financial results. The LTSE, a stock marketplace that advocates for companies to focus on long-term goals and performance, said earlier this month it will file a petition to the SEC to require companies to report earnings results semi-annually, with the option to file quarterly. read more

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Wall Street is rising toward more records on Monday at the start of a week that could show whether the U.S. stock market’s big recent rally has been overdone or prescient.

The S&P 500 rose 0.5% and was on track to top its latest all-time high, which was set last week. The Dow Jones Industrial Average was up 31 points, or 0.1%, as of 12:41 p.m. Eastern time, and the Nasdaq composite was adding 0.9% to its own record.

Tesla helped lead the way and rose 6.1% after Elon Musk bought stock worth roughly $1 billion through a trust. The electric vehicle company’s stock price came into the day with a slight loss for the year so far, and the purchase could be a signal of Musk’s faith in it.

That helped overshadow an early dip for Nvidia after China accused the chip company of violating its antimonopoly laws. Chinese regulators did not mention a punishment for Nvidia in a one-sentence statement on the matter but did say they would carry out “further investigation.” The stock was down more than 1% in early trading, but has since recovered to near break-even. read more

Over the course of a dozen years, the gambler had progressed from video games simulating betting, to online roulette and blackjack, to a particularly volatile form of stock trading called options trading.

The Johns Hopkins University graduate seemed not to grasp the destructive nature of his habit. Like hundreds of thousands of other Marylanders, as casino and online gambling boomed, he felt almost imperceptibly pulled into betting, like a rip current carrying him out to sea. He was 14 when he made his first bet.

Seeking a gambler’s high, he made the worst — but perhaps most fortuitous — bet of his life, paying $150,000 from his Robin Hood account in 2024 for a disastrously timed option to invest in a fund called SPY tied to the short-term fortunes of the S&P 500. The market tanked, and he lost $149,000, which he could afford because of a family inheritance. But the experience rattled him enough that he began seriously questioning his compulsion.

“I lost several years of salary for most people in one trade. It’s what got me to stop,” said the gambler, who — like other bettors interviewed for this article — spoke on condition of anonymity because of stigma attached to the practice. read more

By JOSH BOAK, SUMAN NAISHADHAM and DIDI TANG

MADRID (AP) — A framework deal has been reached between China and the U.S. for the ownership of popular social video platform TikTok, U.S. Treasury Secretary Scott Bessent said after weekend trade talks in Spain.

Bessent said in a press conference after the latest round of trade talks between the world’s two largest economies concluded in Madrid that U.S. President Donald Trump and Chinese Premier Xi Jinping would speak Friday to possibly finalize the deal. He said the objective was to switch to U.S. ownership from China’s ByteDance.

“We are not going to talk about the commercial terms of the deal,” Bessent said. “It’s between two private parties. But the commercial terms have been agreed upon.”

Li Chenggang, China’s international trade representative, told reporters the sides have reached “basic framework consensus” to resolve TikTok-related issues in a cooperative way, reduce investment barriers and promote related economic and trade cooperation. read more

SpaceX is lending a hand to fellow commercial cargo company Northrop Grumman once again with a planned launch Sunday evening on the Space Coast to send supplies to the International Space Station that could also bring a sonic boom to parts of Central Florida.

A Falcon 9 rocket is slated to lift off on the NG-23 resupply mission to the ISS with the largest Cygnus spacecraft yet from Cape Canaveral Space Force Station’s Space Launch Complex 40 at 6:11 p.m.

Space Launch Delta 45’s weather squadron forecasts a 75% chance for good launch conditions, which improves to 85% if delayed 24 hours. Backup options for the launch fall to Monday at 5:49 p.m. or Tuesday at 5:23 p.m.

The first-stage booster on the mission if making its fourth trip to space and SpaceX plans to return it back for a land recovery at Canaveral’s Landing Zone 2.

SpaceX warns that depending on weather conditions, one or more sonic booms could be heard in Brevard, Orange, Osceola, Indian River, Seminole, Volusia, Polk, St. Lucie, and Okeechobee counties, although recent land recoveries of boosters have had reports of the boom heard as far as Lake County. read more