🚀 Impact of ending quarterly reporting

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Market Overview
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Year To Date Performances:

1. The SEC is moving forward with President Trump’s proposal to end mandatory quarterly reporting, a change that could reshape both corporate disclosure practices and the accounting industry’s revenue model. The Big Four accounting firms (Deloitte, EY, KPMG, and PwC) stand to lose up to 15% of their audit fees if companies switch to semi-annual filings. However, many may offset the losses through advisory work or AI-driven efficiencies. Critics warn that the change could reduce transparency for investors, while supporters argue that it would lower costs and encourage more companies to go public by easing regulatory burdens. The proposal, first floated by Trump in 2018, faces months of public comment but appears more likely to advance under his administration, which has been characterized by deregulation. Even if adopted, analysts expect many firms to keep issuing quarterly updates voluntarily to maintain investor confidence and market competitiveness.

2. A federal judge in Oregon has temporarily blocked President Donald Trump from deploying 200 federalized California National Guard troops to Portland, marking another setback in his push to use the military to counter protests against his actions. Judge Karin Immergut, a Trump appointee, sided with California and Oregon, which argued that Trump’s move violated state sovereignty and lacked justification amid limited protests. The ruling follows her similar decision a day earlier, blocking the deployment of Oregon’s own Guard troops, and underscores growing tension between the federal government and Democratic governors. Trump defended his plan as necessary to restore order, while California Governor Gavin Newsom condemned it as “a breathtaking abuse of the law and power.” The administration has appealed the decision, continuing a broader legal and political battle over Trump’s unprecedented use of the National Guard during his second term.

3. Tesla has sparked intense speculation after posting two teaser videos on X showing a spinning car component and a set of headlights, ending with the date “10/7.” Fans and analysts are split on whether the company is finally unveiling its long-promised next-generation Roadster or a long-awaited mass-market model. Elon Musk first introduced the Roadster concept back in 2017 and has repeatedly teased it as “something special beyond a car,” though Tesla’s track record of delayed launches has tempered expectations. Meanwhile, investors are hoping for a more affordable vehicle, viewed as critical to reviving Tesla’s sales amid increasing competition from Chinese automakers like BYD and declining demand in Europe. If the teasers point to a cheaper model, it could signal Tesla’s push to reclaim momentum in the electric vehicle market.

   Headlines

   1. Fifth Third Bancorp will acquire Comerica in a $10.9B all-stock deal.

   2. France’s Prime Minister has resigned just 27 days after his appointment, creating significant instability in the country’s political and economic landscape.