Market Brief
Daily market recaps with key events, stock movements, and global influences
President Donald Trump arrived in Kerrville, Texas, on Friday to inspect damage from last week’s flash floods that killed at least 120 people and left more than 160 missing after the Guadalupe River surged 26 feet in less than an hour. Accompanied by First Lady Melania Trump, the president toured the hardest-hit areas by helicopter and on the ground, meeting with survivors, first responders and local officials. Texas Governor Greg Abbott greeted the presidential party, which also included Republican Senators Ted Cruz and John Cornyn and Representative Wesley Hunt. Speaking to reporters before departing Washington, Trump called the disaster “a horrible thing” and vowed that the federal government would provide “whatever Texas needs.” The administration approved a major disaster declaration earlier in the week, unlocking federal funds for debris removal and emergency housing. More than 2,100 personnel from local, state and federal agencies continue to search for the missing and clear debris as recovery enters its second week. Authorities say dozens of children from a summer camp are among those unaccounted for, and temporary shelters remain open across the Hill Country. The visit comes as the White House quietly retreats from an earlier proposal to dismantle the Federal Emergency Management Agency. Citing unnamed officials, the Washington Post and Reuters reported Friday that no formal steps toward abolishing FEMA will be pursued, with senior aides now emphasizing the agency’s role in supporting state-led disaster responses. Trump’s tour and the policy reversal aim to quell mounting criticism of the federal response and reassure Texans that long-term assistance will remain available.
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100
22
21
21
21
21
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19
19
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7
4
1
1
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36
36
33
33
33
33
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33
31
31
31
31