🚀 Trump aiming to restart SNAP benefits

In partnership with

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Treasury Secretary Scott Bessent said Sunday that Supplemental Nutrition Assistance Program (SNAP) benefits could resume by Wednesday after two federal judges ordered the Trump administration to use emergency funds to continue payments during the government shutdown. The rulings from judges in Massachusetts and Rhode Island require benefits—vital for 42 million Americans—to be paid “as soon as possible,” following the administration’s initial plan to cut off aid on November 1. Bessent confirmed the administration will not appeal the decision and is working to identify a lawful funding process. President Trump said on Truth Social that he instructed government lawyers to clarify how to restart SNAP quickly, emphasizing that Americans should not go hungry amid the political standoff.

2. Microsoft CEO Satya Nadella said the company plans to expand its workforce again but with “a lot more leverage” from artificial intelligence, after a year of layoffs and stagnant headcount. Speaking on the BG2 podcast, Nadella explained that employees are in a transition period of “unlearning and relearning” as AI reshapes how work is done, from using Microsoft 365 Copilot to GitHub’s AI coding assistant. Once that adjustment is complete, he expects headcount growth to resume, with each role becoming more productive through AI integration. Nadella likened the shift to earlier technological revolutions like the adoption of email and spreadsheets, saying that “any planning, any execution, starts with AI” today. His comments came as Microsoft posted its strongest operating margins since 2002, even as competitors like Amazon cut tens of thousands of workers amid their own AI transformations.

3. Microsoft AI CEO Mustafa Suleyman said in an interview that only biological beings can be conscious, arguing that artificial intelligence, no matter how advanced, can never truly experience emotions or suffering. Speaking at the AfroTech Conference, Suleyman urged researchers to abandon efforts to build seemingly conscious AI, calling it “the wrong question” and emphasizing that models merely simulate awareness without genuine experience. He cited philosopher John Searle’s theory of “biological naturalism” to support his position and stressed that granting AI moral consideration would be misguided. Suleyman also reaffirmed Microsoft’s ethical limits, including a refusal to develop erotic chatbots, contrasting with moves by competitors like OpenAI and xAI. While acknowledging AI’s power and contradictions, he said fear and skepticism are healthy responses to its rapid evolution, underscoring that Microsoft aims to build AIs “in service of the human.”

   Headlines

   1. Trump’s tariffs are expected to add an additional $40B to the cost of holiday shopping this year.

   2. Bitcoin and Ethereum both suffered losses during three of the four week in October.