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Wall Street extends tech-powered rally as AI worries abate; Nvidia reports

Summary:
  • reported fourth-quarter revenue of $68.13 billion, surpassing analyst estimates.
  • The rose 1.26%, leading gains among major U.S. stock indexes.
  • Richmond Fed Tom Barkin said AI may enhance jobs rather than displace workers.

NEW YORK, Feb 25 (Reuters) – ended higher on Wednesday, extending its tech-led rally and touching two-week highs as worries over disruption and costs took a back seat to renewed optimism over the nascent technology’s potential benefits.

All three major U.S. stock indexes advanced, with the Nasdaq, powered by chips, enjoying the largest percentage gain as markets near the end of a tumultuous month that was marked by concerns over massive investment in AI infrastructure and the extent to which it could disrupt myriad industries.

Nvidia, at the forefront of the AI revolution, reported fourth-quarter revenue of $68.13 billion, beating analyst estimates. Its shares were up about 3% in extended trading.

The Philadelphia SE gained 1.6% ahead of Nvidia’s earnings.

The S&P Software & Services index, bouncing back from its 23% year-to-date slump, was a clear outperformer, jumping 2.9%.

“We’re in the middle of a push-pull here between some negative sentiment and some extreme price action in parts of the market,” said Zach Hill, head of portfolio management at Horizon Investments in Charlotte, North Carolina.

“I think the (AI) disruption concerns are more acute right now than worries over return on investment,” Hill added. “Investors are trying to grapple with what could potentially be existential risk, and that’s a bigger deal than not receiving as much payout as you would like.”

Richmond Fed President Tom Barkin chimed in on the issue, saying it is not clear that the AI rollout will displace workers, adding the technology could enable workers and help the job market become more efficient.

The Dow Jones Industrial Average rose 307.65 points, or 0.63%, to 49,482.15, the S&P 500 gained 56.06 points, or 0.81%, to 6,946.13 and the Nasdaq Composite gained 288.40 points, or 1.26%, to 23,152.08.

Among the 11 major sectors in the S&P 500, tech stocks led the percentage gainers, while industrials suffered the steepest loss.

jumped 17.6% after the Taser-maker beat fourth-quarter profit estimates.

Both and provided weaker-than-expected annual sales guidance, sending their shares down 13.6% and 5.6%, respectively.

After Lowe’s disappointing report, housing and homebuilders were clear underperformers, down 3% and 3.7% respectively, despite the 30-year fixed mortgage rate dipping to a 3-1/2-year low last week, according to the Mortgage Bankers Association.

On the staples side, alcohol producers with Brown-Forman off 7.6% and Molson Coors down 4.8%, after London-listed Johnnie Walker and Guinness maker Diageo projected a 2% to 3% organic sales decline in 2026 and cut its interim dividend in half.

GoDaddy tumbled 14.3% after the internet services provider forecast annual revenue below Wall Street expectations.

Considering recent volatility in software stocks, results from Salesforce, Intuit and Snowflake will likely be subject to added scrutiny.

Advancing issues outnumbered decliners by a 1.78-to-1 ratio on the NYSE. There were 635 new highs and 98 new lows on the NYSE.

On the Nasdaq, 3,148 stocks rose and 1,557 fell as advancing issues outnumbered decliners by a 2.02-to-1 ratio.

The S&P 500 posted 50 new 52-week highs and nine new lows, while the Nasdaq Composite recorded 127 new highs and 94 new lows.

Volume on U.S. exchanges was 17.50 billion shares, compared with the 20.27 billion average for the full session over the last 20 trading days.

(Reporting by Stephen Culp; Additional reporting by Shashwat Chauhan and Ragini Mathur in Bengaluru; Editing by Rod Nickel)

Nvidia forecasts first-quarter sales above estimates

Feb 25 (Reuters) – Chipmaker forecast above market estimates on Wednesday, betting on ‘s unabated spending on its artificial intelligence processors amid widespread scrutiny of massive AI investments.

Shares of Nvidia rose over 2% in extended trading.

The world’s most valuable company expects fiscal first-quarter sales of $78 billion, plus or minus 2%, compared with analysts’ average estimate of $72.60 billion, according to data compiled by LSEG.

Investors are looking to Nvidia’s results to gauge whether the hundreds of billions of dollars that Big Tech is pouring into are paying off.

has been betting on signs of robust demand for Nvidia’s top-of-the line AI chips, an assumption backed by hefty capital expenditure from , Microsoft, Amazon.com and , expected to total at least $630 billion in 2026, with most of the spending earmarked for data centers and processors.

Businesses and governments are spending relentlessly in the race to develop the most sophisticated AI tech, or risk falling behind.

But signs of risk to Nvidia’s long-held dominance in making AI chips are emerging. Smaller rival is set to unveil a new flagship AI server later this year and has clinched deals with Nvidia’s top customers, including Meta.

Meanwhile, Alphabet’s has emerged as a top rival with a deal to provide Claude chatbot creator with its in-house chips called TPUs. Google is also in talks to supply Meta, according to media reports.

Big Tech is increasingly turning inward in the quest for more computing power, dedicating resources to designing in-house chips that they are deploying in their data centers.

The company reported January-quarter sales of $68.13 billion, beating estimates of $66.21 billion, according to LSEG data. It said adjusted profits came in at $1.62 per share, compared with estimates of $1.53, according to LSEG data.

(Reporting by Arsheeya Bajwa and Zaheer Kachwala in Bengaluru, Stephen Nellis in San Francisco; Editing by Shinjini Ganguli)

 

Maritime manufacturing startup to invest $10.5M in Portsmouth

Radian Forge, a startup specializing in the production of large-scale, precision-grade maritime parts primarily for the , plans to invest $10.5 million to grow its manufacturing operations in , announced Wednesday.

The project is expected to create 53 jobs.

“The region’s shipbuilding heritage, technical workforce and direct access to the fleet make it the right place to scale capabilities that matter to national defense,” Jeff Yeager said in a statement. “This investment strengthens the maritime industrial base, reduces supply chain vulnerabilities, accelerates delivery of mission-critical components and reinforces a community with deep roots in supporting the defense workforce.”

Radian Forge, which launched in January, has five full-time employees, according to Chief Administrative Officer Kait Ewoldt. Currently based at the Fairlead Integrated building at 176 Lincoln St., the company expects to ramp up hiring at the end of the second quarter.

For its manufacturing process, Radian Forge uses , or WAAM, which uses an electric arc as a heat source and standard welding wire as the material. With the aid of software, the arc melts the wire and deposits metal layer by layer. The process can rapidly produce large, complex metal components with properties comparable to forgings, a process developed thousands of years ago in which metal is shaped using heat and force, and superior to castings, a process in which metal liquefied by intense heat flows into a mold and solidifies.

“Radian Forge’s decision to expand in highlights the region’s competitiveness, deep industry expertise and long‑standing role in supporting our national security,” Spanberger said in a statement. “Virginia’s workforce is prepared to meet the needs of our defense industry. Radian Forge’s expansion in Portsmouth will create good‑paying jobs in a community that is so integral to the strength of our Navy.”

The Virginia Partnership worked with the City of Portsmouth, the Hampton Roads Alliance and the Port of Virginia to secure the project for the commonwealth. Spanberger approved a $265,000 grant from the Commonwealth’s Opportunity Fund to assist Portsmouth with the company’s growth.

Radian Forge will also receive funding and services to support employee training through VEDP’s Virginia Jobs Investment Program. Additionally, the company is eligible to receive benefits from the Port of Virginia Economic and Infrastructure Development Zone Grant Program.

BAE Systems receives $500M Army contract

Falls Church-based announced Tuesday it received a more than $500 million to produce 40 sets of M109A7 Paladin self-propelled howitzers and M992A3 ammunition carriers for the .

The M109A7 is the latest variant in BAE Systems’ M109 howitzer family of vehicles. The system aims to improve survivability, reduce operational costs and sustain combat capability while enabling indirect fire support with greater precision.

The company said the platform integrates advanced technology and a modern architecture, incorporating digital fire control systems known as the “digital backbone.”

“The M109A7 Paladin self-propelled howitzer is designed to provide a significant operational advantage on today’s battlefields and into the future,” Dan Furber, program director for artillery and combat support for BAE Systems’ combat mission systems business, said in a statement. “Its proven performance demonstrates its value on the field, and we’re proud to support the U.S. Army and its allies in leveraging this critical capability.”

The M109A7 is produced in York, Pennsylvania, as well as Elgin, Oklahoma, and Anniston, Alabama.

The contract was awarded in December 2025 and is designed to bolster the Army’s ability to support operational requirements for armored brigade combat teams, especially in challenging terrains or conditions.

Based in , Bae Systems is the U.S. arm of British defense giant BAE Systems PLC. The company has approximately 41,000 employees in the United States, the United Kingdom and Sweden. The parent company reported 30.7 billion pounds, or $41.5 billion, for 2025.

Oil turns negative as large US crude stock build outshines supply concerns 

Summary:
  • US crude inventories rose by 16 million barrels last week, exceeding analyst expectations.
  • Geopolitical tensions between the US and Iran continue to influence .
  • OPEC+ plans to consider raising oil output by 137,000 barrels per day in April.

HOUSTON, Feb 25 (Reuters) – Oil prices slipped into negative territory on Wednesday as a much larger-than-expected U.S. crude stock build outweighed the threat to oil supply from potential military conflict between the U.S. and Iran.

were down 12 cents at $70.65 a barrel at 11:16 a.m. ET (1607 GMT), while were down 26 cents at $65.37.

U.S. crude inventories rose by 16 million barrels last week as refinery utilization fell and imports increased, the said on Wednesday. That compared with analysts’ expectations in a Reuters poll for a 1.5-million-barrel rise.

However, the EIA’s adjustment number, which totals unaccounted for changes in crude stocks, hit a record last week at 2.7 million barrels per day.

“A bearish (EIA) report with a large crude build… the prices impact was however limited, as the oil market remains more influenced by other factors at present, such as geopolitical tensions in the Middle East,” said Giovanni Staunovo, commodity analyst at UBS.

Brent prices had reached their highest since July 31 on Friday while WTI hit its highest since August 4 on Monday, as the U.S. positioned military forces in the Middle East to try to compel Iran to negotiate an end to its nuclear and ballistic missile programme.

An extended conflict could disrupt supplies from Iran, the third-biggest crude producer in the Organization of the Petroleum Exporting Countries, and other countries in the key Middle East producing region.

Supporting oil prices, U.S. briefly laid out his case for a possible attack on Iran in his State of the Union speech on Tuesday, saying he would not allow a country he described as the world’s biggest sponsor of terrorism to have a nuclear weapon.

U.S. envoy Steve Witkoff and Jared Kushner are due to meet an Iranian delegation for a third round of talks on Thursday in Geneva.

Iranian Foreign Minister Abbas Araqchi said on Tuesday that a deal with the U.S. was “within reach, but only if diplomacy is given priority”.

OPEC+ will likely consider raising its oil output by 137,000 barrels per day for April to end a three-month pause in production increases, three sources with knowledge of OPEC+ thinking said, as the group prepares for peak summer demand and tensions between the U.S. and OPEC member Iran boost prices.

Eight OPEC+ producers – Saudi Arabia, Russia, the United Arab Emirates, Kazakhstan, Kuwait, Iraq, Algeria and Oman – meet on March 1.

In a separate development, top OPEC+ producer Saudi Arabia has activated a plan for a short-term oil output and export surge in case a U.S. strike on Iran disrupts oil flows, two sources familiar with the Saudi plan told Reuters.

Tariff uncertainty also further worried investors. Trump’s temporary global tariff of 10% came into effect on Tuesday after the ‘s sweeping ruling last week. He later said the levy would be 15%, but it was unclear when and if it would apply.

The U.S. tariff rate for some countries will rise to 15% or higher from the newly imposed 10%, U.S. said on Wednesday, without naming any specific trading partners or giving further details.

(Reporting by Stephanie Kelly in London, Katya Golubkova in Tokyo and Jeslyn Lerh in Singapore. Editing by Mark Potter, David Goodman, Alexandra Hudson)

 

Fed’s Schmid says high inflation still bigger issue facing central bank

Summary:

NEW YORK, Feb 25 (Reuters) – Federal Reserve Bank of Kansas City President Jeffrey Schmid said on Wednesday that overly high inflation remains a key problem the central bank needs to address, but he stopped short of saying how monetary policy should respond.

“I think we have work to do on the inflation side of things,” while “I think we’re in a pretty good place for employment,” Schmid said in an appearance before the Economic Club of Colorado.

The bank president did not, however, say how that mix of factors is influencing his outlook for monetary policy. Schmid was a skeptic of the Fed’s push to lower the cost of short-term borrowing last year that saw officials lower their target rate range to between 3.5% to 3.75%.

Markets expect more this year but officials have offered little guidance, with many watching for evidence that inflation is moving down toward the Fed’s 2% target.

The Fed’s rate cuts last year sought to bolster a softening job market while retaining enough policy restraint to keep inflation moving down.

Schmid also addressed the Fed’s balance sheet and said internal debates focus on understanding the right level of reserves for the financial system.

He noted that the Fed’s still-large holdings of mortgage bonds from past buying efforts were holding down home borrowing costs. Mortgage rates are “probably 75 to 100 basis points lower today than they would otherwise be” due to the current size of Fed mortgage bond holdings, he said.

 

(Reporting by Michael S. Derby; Editing by David Gregorio)

 

Trex CEO Bryan Fairbanks to retire in April

Trex Co. and Bryan H. Fairbanks will retire April 28 after nearly 23 years with the company, and Chief Operating Officer Adam D. Zambanini will succeed him, the -based and railing announced Tuesday.

Fairbanks has been the company’s president and CEO since 2020, following the retirement of James Cline. Previously, he had been its executive vice president and chief financial officer.

Cline, now chairman of the board of directors, said in a statement that Fairbanks grew during his tenure and “showed resilience within a challenging industry environment.” He also credits Fairfax for building “a world-class team of innovators and operators that have consistently delivered for our channel partners and consumers.”

“Bryan has made an immeasurable mark on the organization and embodies Trex’s core qualities — vision, innovation and discipline,” said Cline.

Adam D. Zambanini has been appointed as the next president and CEO of Trex Co. Photo courtesy Trex Co.
Adam D. Zambanini has been appointed the next president and CEO of Photo courtesy Trex Co.

Zambanini has more than 20 years of leadership experience at Trex, most recently serving as executive vice president in addition to COO. He previously held the titles of president of residential products and vice president of marketing, and Trex credits him for driving market growth, product development and operational execution.

“It is an honor to succeed Bryan, someone who has made an impact on me and so many across Trex,” Zambanini said in a statement. “As I assume the role as the company’s next CEO, I am energized by the opportunity to partner with our dynamic leaders and continue to drive growth and shareholder value.”

According to Cline, the board undertook a comprehensive evaluation process, including assessing both internal and external candidates, to find Fairbanks’s successor, and Zambanini “was the clear and most capable” choice.

“He is a strong leader and brand-builder and his knowledge of Trex’s business, product roadmap, markets and people is unmatched,” Cline said in his statement.

The company said no one has yet been named as Zambanini’s successor as COO.

Trex products are sold through more than 6,700 retail outlets across six continents. The company reported $1.2 billion in net sales for 2025, a 2% increase from the previous year. It has more than 1,800 employees.

“Having worked closely with Adam for two decades, I have been impressed with his leadership capabilities and his drive for performance,” Fairbanks said in a statement. “I take pride in what we have built and move on with confidence in Trex’s future.”

US tariff rate to hit 15% or more for some nations, Greer says

Summary:

WASHINGTON, Feb 25 (Reuters) – The U.S. tariff rate for some countries will rise to 15% or higher from the newly imposed 10%, U.S. Trade Representative Jamieson Greer said on Wednesday, without naming any specific trading partners or giving further details.

Greer told Fox Business Network’s “Mornings with Maria” program that the does not intend to raise tariffs on Chinese goods above current levels as President plans to travel to China in coming weeks.

“Right now, we have the 10% tariff. It’ll go up to 15(%) for some and then it may go higher for others, and I think it will be in line with the types of tariffs we’ve been seeing,” Greer said.

Speaking later on Bloomberg TV, Greer said the White House was preparing a proclamation to raise the temporary tariffs to 15% “where appropriate.” He added that it would “accommodate” countries that have but did not provide details.

He said that the administration wanted to make sure that it pursues proper legal processes for the increase, adding: “any time we put on a tariff, we’re going to have foreign interests who want to bring it down. So people are going to sue us.”

NEW TARIFFS COMPATIBLE WITH EXISTING TRADE DEALS

Greer told Fox Business the administration’s plan to replace emergency tariffs struck down by the with new duties, including temporary tariffs under Section 122 of the Trade Act of 1974, which took effect on Tuesday at a 10% rate, are compatible with existing trade deals.

He said investigations into unfair trade practices under Section 301 of that same law would be the centerpiece of the replacement effort, targeting countries that build excess industrial capacity, use forced labor in supply chains, discriminate against U.S. technology firms, or subsidize rice, seafood and other goods.

Greer said that he and Treasury Secretary Scott Bessent have repeatedly raised the issue of excess industrial capacity with Chinese officials, adding that unprofitable Chinese firms are allowed to stay open and continue producing with government support.

“I don’t think they’re going to resolve that problem fully, and that’s part of why we need to have tariffs on China and Vietnam and other countries that have this problem,” he said.

Asked whether the administration is willing to impose steep new tariffs on Chinese goods that could upset a delicate trade truce, Greer said: “We don’t intend to escalate beyond” rates that are currently in place. “We intend to really stick to the deal that we have with them.”

Greer also said Section 301 investigations can serve as an enforcement mechanism for trade agreements the administration has struck in recent months, including a deal with Indonesia, which agreed to accept a 19% U.S. tariff and open its markets to U.S. goods.

He said USTR would open a Section 301 investigation into Indonesia’s trade practices to examine industrial capacity and fisheries subsidies, and the findings would be compared with steps Indonesia is taking to address U.S. concerns and its commitments under the deal.

“And then we’ll make a determination on what kind of tariff should apply. We expect to have continuity in what we’re doing” with trade deals,” he said.

Greer also told Fox Business that a nearly century-old trade law, Section 338 of the Tariff Act of 1930, was “still good law” and could be useful in certain circumstances where countries discriminate against U.S. trade relative to other countries. The statute allows for tariffs of up to 50% on imports from specific countries.

But he said the primary focus was on country-focused Section 301 probes and strategic industry-focused Section 232 national security probes, where tariffs have proven “very durable.”

“They’ve stood up to legal scrutiny in the past and they will again now,” Greer said.

(Reporting by Susan Heavey and David Lawder. Editing by Daphne Psaledakis, Mark Potter and Paul Simao)

 

VSU gets pledge of $1.5M in largest gift ever from living alumnus

Summary:

Less than a week after Virginia State University announced it was naming its Honors College after him, Charlie Hill has returned the favor in a major way.

The 1966 VSU graduate and former member of the Board of Visitors pledged $1.5 million to the Ettrick university during halftime of a Feb. 21 home basketball game. In an announcement, VSU called it “the largest total gift ever made to the University by a living alumnus” and referred to the donation as a “transformational moment that underscores the power of alumni leadership.”

In a statement, Hill said he made the donation because of the “foundation” VSU gave him for his four-decade corporate career.

“I want today’s students to have that same opportunity for transformation so their lives can be even richer than mine,” Hill said. “This gift is one way I can help ensure that future generations receive the support and opportunities they need to thrive, and I hope it inspires others to do the same.”

A history of giving back to VSU

The donation is the latest philanthropic move by Hill toward VSU.

In 2015, Hill donated $100,000 to establish the Annase Wilks Hill Minerva Circle Endowment in memory of his wife, who also graduated from VSU. The endowment supports women pursuing degrees in science, technology, engineering, and mathematics (STEM).

He also endowed the Charlie Hill Leadership Institute, a student organization that develops students into leaders of their chosen fields.

“Dr. Hill’s historic $1.5 million gift represents an extraordinary investment in the future of Virginia State University,” VSU Makola Abdullah said in the same statement. “His generosity strengthens our ability to expand academic opportunities, support student achievement, and advance excellence across our campus. We are deeply grateful for his continued leadership and belief in the power of a VSU education.”

Added Willis Walter, VSU’s vice president for external relations, “His investment demonstrates how alumni leadership directly transforms student opportunity and institutional growth. We hope this historic gift inspires others to join us in advancing the future of Virginia State University.”

Bill Atkinson (he/him/his) is an award-winning journalist who covers breaking news, government and politics. Reach him at [email protected] or on X (formerly known as Twitter) at @BAtkinson_PI.

This article originally appeared on The Progress-Index: VSU gets pledge of $1.5M in largest gift ever from living alumnus

Reporting by Bill Atkinson, Petersburg Progress-Index / The Progress-Index

USA TODAY Network via Reuters Connect

 

Trump hails ‘golden age’ in State of the Union as voters sour on economy

Summary:
  • claimed to have ushered in ‘the golden age of America’ during his 2024 State of the Union address.
  • Trump focused on economic achievements such as slowing , record stock market highs, and tax cuts despite voter concerns over affordability.
  • criticized Trump’s policies, highlighting ongoing economic struggles and opposing his during the speech.

WASHINGTON, Feb 24 (Reuters) – U.S. President Donald Trump boasted in his State of the Union address on Tuesday that he had ushered in “the golden age of America,” seeking to project an aura of success despite sagging approval ratings and deepening voter frustration ahead of November’s .

Heeding calls from Republican lawmakers worried they could lose their congressional majority later this year, Trump spent the first hour of his televised speech focused on the , saying he had slowed inflation, driven the stock market to record heights, signed sweeping tax cuts and lowered drug prices.

But it was unclear whether his rosy assessment would assuage Americans’ anger about the cost of living. Trump sought to blame his Democratic predecessor, Joe Biden, for high prices, but opinion polls show voters hold Trump responsible for not doing more to ease an affordability crisis after he campaigned relentlessly on the issue.

“Our nation is back — bigger, better, richer and stronger than ever before,” Trump said after taking the stage to cheers of “USA, USA” from fellow Republicans in Congress, with dozens of empty seats on the Democratic side a reminder that many lawmakers skipped the speech for anti-Trump rallies outside.

The annual speech to Congress came at a fraught moment for Trump’s presidency, with polls showing a majority of Americans have soured on his performance, anxieties rising over Iran and his signature tariff policy foundering after the U.S. struck down most of his import taxes.

For much of the speech, Trump was uncharacteristically disciplined, mostly appearing to stick to his prepared remarks and eschewing his usual stream-of-consciousness digressions. But he flashed his combative side while discussing his immigration crackdown, exchanging shouted insults with several Democratic lawmakers.

The former reality television star injected plenty of spectacle into the event. At one point, he bragged about all the “winning” that the U.S. has experienced during his term, before introducing some other winners: members of the U.S. men’s ice hockey team, who entered the chamber wearing the gold medals they won at the Winter Olympics on Sunday.

He declared that the team’s goaltender, Connor Hellebuyck, would receive the Presidential Medal of Freedom, one of half a dozen medals handed out to various guests with typical Trumpian fanfare.

The 79-year-old Trump’s speech lasted approximately an hour and 47 minutes, breaking the record he set last year for the longest to Congress.

NO CLARITY ON IRAN

While Trump said inflation is “plummeting,” prices for groceries, housing, insurance and utilities remain significantly higher than they were a few years ago. New data released on Friday showed the economy slowed more than expected last quarter while inflation accelerated.

A Reuters/Ipsos poll found only 36% of Americans approve of his handling of the economy. Democrats hope to seize control of both houses of Congress from Republicans in November when all 435 seats are on the ballot for the House of Representatives and about a third of the 100 seats in the Senate.

Virginia Governor Abigail Spanberger, a Democrat whose decisive victory in November was an early midterm warning sign for Republicans, delivered her party’s official response, criticizing Trump for abandoning struggling Americans.

“Is the president working to make life more affordable for you and your family?” she said. “We all know the answer is no.”

Trump, who attacked the Supreme Court in personal terms after the tariff decision on Friday, held his fire on Tuesday, shaking hands with the four justices present as he entered the chamber. He called the ruling “unfortunate” but argued that it would ultimately have little impact on his trade policy.

Trump did not discuss , at a time when the technology is fueling both the stock market and growing worries among workers about the threat it poses to job security.

He also spent little time on foreign policy, even though he has focused much of his energies in office on issues abroad.

Trump again claimed he “ended” eight wars, an exaggeration, and barely mentioned Ukraine, despite Tuesday marking the fourth anniversary of Russia’s invasion. He did not discuss China, America’s chief economic rival, or Greenland, the semi-autonomous Danish territory he has threatened to take over.

Trump also did not offer clarity regarding his plans for Iran amid signs he is inching closer to a military conflict with Tehran.

“My preference is to solve this problem through diplomacy,” he said. “But one thing is certain: I will never allow the world’s No. 1 sponsor of terror, which they are by far, to have a nuclear weapon.”

TRUMP, DEMOCRATS CLASH

When Trump turned to his favorite topic, immigration, he repeated the same rhetoric that animated his 2024 campaign, claiming undocumented migrants were responsible for a wave of violent crime despite studies showing that is not the case.

“You should be ashamed,” he told Democrats, chastising them for refusing to fund the Department of Homeland Security unless measures are taken to curb the aggressive tactics of immigration agents under Trump.

Opinion polls show a majority of Americans believe Trump’s immigration crackdown has gone too far, after two U.S. citizens were shot dead by masked federal agents in Minneapolis.

As Trump praised his immigration enforcement, Democrat Ilhan Omar, who represents a Minneapolis U.S. House district, shouted in his direction, “You have killed Americans!”

Trump, who has falsely claimed for years that election fraud in the U.S. is rampant, also attacked Democrats for not supporting a voter identification requirement.

“They want to cheat,” he said. Democrats argue that the Republican-backed legislation would impose unnecessary burdens on voters and suppress turnout.

Democratic U.S. Representative Al Green was removed from the House chamber for the second consecutive year after waving a sign at Trump that read, “Black people aren’t apes.” The message referred to a social media video Trump posted with a clip depicting former President Barack Obama and former first lady Michelle Obama as apes.

The White House eventually took down the video, which Trump said was posted by a staffer. Green, who is Black, was also ejected during last year’s address after shouting at Trump.

Other Democrats offered quieter messages of protest. U.S. Representative Jill Tokuda, a Hawaii Democrat, wore a white jacket emblazoned with words like “affordability” and “healthcare.”

A number of Democratic women wore tags saying “release the files,” a reference to the scandal surrounding convicted sex offender Jeffrey Epstein. About a dozen Epstein accusers attended as guests of Democrats.

(Reporting by Katharine Jackson and Joseph Ax in Washington; Additional reporting by Steve Holland, Daphne Psaledakis; Writing by Joseph Ax and Andy Sullivan; Editing by Colleen Jenkins and Howard Goller)