Republicans’ recent stumbles in Congress highlight the difficult road ahead for their agenda

WASHINGTON (AP) — A roughly $70 billion bill to fund immigration enforcement through the remainder of President Donald Trump’s term was supposed to be an easy lift for Republicans.

But progress stalled over concerns about the inclusion of White House ballroom security funding in the package and the creation of a $1.8 billion fund to finance claims of government mistreatment. The stumble has not only delayed action on a top GOP priority but also is raising questions about other parts of the party’s legislative agenda, including whether Republicans can enact another catchall, party-line bill referred to in Washington parlance as “Reconciliation 3.0.”

Republicans have spent recent weeks laying the groundwork for such a bill, which they hope will serve as a final sales pitch to voters going into the midterms.

Speaker Mike Johnson and Majority Leader Steve Scalise, both of Louisiana, have been meeting with committee and caucus chairs to screen for proposals that have strong buy-in from the rank and file. They are aiming to follow up on last summer’s big tax and spending cuts bill with a measure that would increase Pentagon spending by hundreds of billions of dollars and would include cuts elsewhere to help pay for it, which they are couching as tackling government waste and fraud.

It’s a high-stakes gambit in an election year. Success will reinforce the GOP’s message of being able to deliver on legislative priorities. Failure will underscore some of the Republican fractures under Trump that could leave voters seeking an alternative.

Here’s a look at the coming debate as Republicans hope to pass a bill before leaving for their August recess.

House Republicans sound confident

Johnson navigated the House GOP’s slim majority in passing Trump’s tax and spending cuts bill last summer. The vote was 218-214. At the time, Republicans could afford to lose three votes from within their ranks. They lost just two.

They’ll have a thin margin of error again, but Johnson said he’s even more confident of success this time around.

“It will be just as beautiful, but not as big, so it’ll have less provisions and less things to get everybody to yes on,” he said.

Rep. Jodey Arrington, chairman of the House Budget Committee, said Republicans are just as motivated as they were last year on the tax cuts bill.

“This one, I think you’ll have potentially money to support our troops in conflict,” said Arrington, of Texas. “I can’t imagine a Republican not wanting to support our troops and military community in a time of conflict.”

The Trump administration has called on Republicans to provide $350 billion to defense through a reconciliation bill.

But Rep. Brendan Boyle, the lead Democrat on the House Budget Committee, said Republicans will have a more difficult path than they did with Trump’s big tax and spending cuts bill.

“I think it will be for a couple of reasons. First is the president’s approval rating. He was at a much higher level a year ago than he is right now,” said Boyle, of Pennsylvania. “Number 2, we are much closer to the November midterm elections. So, if you’re one of a dozen or a couple dozen House Republicans who are really vulnerable in a swing district, you have to think even more carefully about voting for something that has even more health care cuts in it.”

The tax cuts bill that passed last summer reduced spending on Medicaid by more than $900 billion over a decade. It also reduced spending on nutrition assistance by about $187 billion over a decade, according to the Congressional Budget Office.

Caution in the Senate

Senate Majority Leader John Thune called a third reconciliation bill to get around the filibuster a “potential option,” hardly a ringing endorsement.

“We haven’t made any commitments on that, but we’re hearing people out,” said Thune, of South Dakota.

Sen. Thom Tillis of North Carolina said lawmakers should know what will be in the bill before the legislative process begins. That way, it’s less likely to unravel.

“If it just becomes another exercise where you’re not really sure what’s going to be the end product, then I think it’s a mistake even to pursue it,” Tillis said. “We ought to be smart about it if we do a third one, but it is kind of a moonshot.”

Sen. Lisa Murkowski of Alaska said she worried about the strategy.

“A third reconciliation may or may not happen. I’m just being direct,” she said.

Little time and fractured relations

The House is expected to be in session for about 24 more days before it breaks for its August recess. That leaves little time to pass a budget blueprint in both chambers, which is the first hurdle for pursuing party-line tax and spending bills. Committees would also have to wrap up their work advancing their portions of the legislation.

Another hurdle could be Trump’s treatment of current senators whose votes he will need for any package to become law. Trump endorsed opponents of two senators who faced stiff primary challenges and eventually lost — Sens. Bill Cassidy of Louisiana and John Cornyn of Texas.

Cassidy has already shown more willingness to buck the president. Fresh off his primary loss, he voted last week to advance a bill that seeks to force Trump to withdraw from hostilities with Iran.

What could make it into the bill

Lawmakers said they could tweak and resurrect some proposals that did not pass muster with the Senate parliamentarian for inclusion in last year’s reconciliation bill. For example, Republicans tried to prevent states from providing Medicaid coverage for immigrants who are in the U.S. illegally.

Rep. August Pfluger of Texas, chairman of the Republican Study Committee, said the bill should rest on three pillars, making the country more affordable and secure while reducing fraud.

Among the group’s recommendations is a proposal to eliminate the capital gains tax on the sale of homes to first-time homebuyers, which they say would incentivize the market, and a proposal to impose a 5% tax on funds sent by noncitizens back to their home countries.

Arrington said he would also like to tighten the rules for the earned income tax credit, a program that increases the financial reward for working but that also has a high rate of improper payments. He also called for prohibiting immigrants who are in the U.S. illegally from living in housing units financed by a housing tax credit paid to developers who construct and rehab affordable housing for renters.

“There’s a lot more work to be done to build on what we did in the first one with Medicaid and SNAP (nutrition assistance), with respect to fraud,” Arrington said.

Federal judge refuses to block Trump order to create federal voter list and limit mail voting

WASHINGTON (AP)- A federal judge has declined to halt President Donald Trump’s executive order creating a federal voter list and limiting mail voting, clearing the way for potential sweeping changes in how American elections are run shortly before this year’s midterm elections.

U.S. District Judge Carl Nichols, a Trump appointee in Washington, late Wednesday rejected the request by Democrats and civil rights groups that had argued Trump’s order would likely be found unconstitutional because the states and Congress, not the president, have the power to set election rules. Nichols agreed with the Republican Trump administration’s contention that it was too early to block the order because it has yet to be implemented.

“The Court recognizes that the Postal Service may ultimately issue a final rule that directly affects Plaintiffs or their members, or that the Government may develop State Citizenship Lists that omit specific individuals due to particularized flaws,” Nichols wrote. “Plaintiffs may, of course, renew their motions if and when those future actions occur. Until then, however, Plaintiffs cannot show that preliminary injunctive relief is warranted.”

The legal battle against the provision now shifts to Boston, where voting rights groups have a separate lawsuit seeking to temporarily block the executive order in federal court. The Trump administration has yet to formally issue lists of eligible voters, and those who filed the initial request for a temporary halt said they’d be back if the administration moves in that direction.

“We are ready to resume the fight if and when the administration takes those next steps,” said Juan Proaño, chief executive officer of the League of United Latin American Citizens, one of the organizations that sought the stay from Nichols.

Trump issued the order in March after a bill he supported to overhaul voting stalled in Congress. The order would have had the federal government create a list of eligible voters and then directed the U.S. Postal Service to deliver mail ballots only to those on the list. Election officials argued it was ripe for abuse and could cause chaos.

Since his 2020 presidential election loss to Democrat Joe Biden, Trump has groundlessly claimed mail voting is rife with fraud and has launched a federal investigation into that year’s vote, even though repeated audits and investigations, including ones run by Republicans, found it was free of widespread fraud. Trump also has said he wants to “take over” election administration in Democratic areas.

Democrats and civil rights groups argued it was urgent that Nichols issue a restraining order in the midst of primary season and with states already gearing up for the fall midterm elections.

This was Trump’s second executive order seeking to overhaul elections and voting. His initial election executive order, issued just months after he took office in his second term, has been blocked by multiplefederal judges. That order sought to require documentary proof of citizenship to register to vote, among other changes.

Key inflation gauge worsens as Americans’ income and spending power erodes

WASHINGTON (AP) — A key inflation gauge accelerated in April to the highest level in three years, squeezing Americans’ finances and creating political challenges for President Trump and congressional Republicans with midterm elections just five months away.

Inflation jumped to 3.8% in April compared with a year ago, the Commerce Department said Thursday, up from 3.5% in March and the highest since May 2023. On a monthly basis, prices rose 0.4%, down from the 0.7% jump in March but still higher than the inflation-fighters at the Federal Reserve would prefer.

Thursday’s inflation report also showed that in addition to gasoline, prices for groceries, clothing and electricity are also on the rise, indicating that inflation could persist. Inflation is also notably above the Federal Reserve’s target of 2%, which means Fed policymakers may decide to forego any cuts to their key short-term interest rate this year. Some officials have signaled that the central bank’s next move could be a hike rather than a cut.

Excluding the volatile food and energy categories, core inflation rose to 3.3% in April from 3.2% the previous month. It is the highest core figure since October 2023. One positive sign in the report: Core prices rose just 0.2% in April from March, down from 0.3% the previous month.

Higher prices are also cutting into the incomes of Americans, which were unchanged in April from March. Incomes were weak in part because farm incomes fell after a large government aid package ended last month. Adjusted for inflation, personal income actually slipped 0.1% last month.

Spending rose 0.5% in April from March, though most of that reflected price increases. Adjusted for inflation, spending rose just 0.1% in April, down from 0.3% the previous month.

“Signs of stress are building inside the American household across the economy,” Joe Brusuelas, chief economist at RSM, a tax advisory firm, said. “Inflation-adjusted spending, disposable income … point to a slowing in May spending as inflation approaches a peak on the back of a historic supply shock.”

The U.S. economy grew at a modest 1.6% annual pace from January through March, according to a separate report from the Commerce Department Thursday. The country’s gross domestic product — the nation’s output of goods and services — rebounded from a lackluster 0.5% expansion the last quarter of 2025 when growth was hobbled by the 43-day federal government shutdown.

The first-quarter growth, which covered the first month of the Iran war, was a downgrade from the 2% expansion Commerce initially reported.

Gas prices averaged of about $4.50 a gallon nationwide for three weeks this month before slipping to $4.43 on Thursday, according to the AAA motor club. Gas averaged $2.98 a gallon the day before the Iran war began.

Yet the cost of many other goods and services have picked up in recent months, raising concerns among many Fed officials that inflation is being pushed higher by tariffs and other factors in addition to the war. The cost of services such as dental visits, car repairs and veterinarian visits have been rising sharply, and clothes, toys, and groceries are also seeing outsize price gains.

Rapid investment in artificial intelligence centers also appears to be driving up the cost of computer equipment and software, adding to inflationary pressures. Electricity prices have also spiked from a year ago.

In brief: ‘X-Men ’97’ season 2 gets release date, trailer and more

We now know when season 2 of X-Men '97 will arrive. The second season of the Emmy-nominated Marvel Animation series will debut to Disney+ on July 1. It will continue the story of the mutant team of X-Men who are divided and thrown across different eras in time as they make their way back home. Disney+ also released the trailer for the new season. The show's voice cast includes Ross Marquand as Professor X, Matthew Waterson as Magneto, Ray Chase as Cyclops and Jennifer Hale as Jean Grey ...

Ted Danson has found his next role. The actor is set to join Elizabeth Banks in the cast of a new Apple TV comedy series. The currently untitled show comes from creators Liz Heldens and Matt Ward. It follows a recently divorced woman named Heidi (Banks) who stumbles into coordinating her father's (Danson) retirement community sexcapades ...

The trailer for Teenage Sex and Death at Camp Miasma has arrived. Fresh off its Cannes Film Festival debut, Mubi has released the trailer for the new movie from director Jane Schoenbrun. It stars Hannah Einbinder and Gillian Anderson and releases in theaters on Aug. 7 ...

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‘Deli Boys’ stars Saagar Shaikh, Asif Ali unpack season 2

Asif Ali and Saagar Shaikh in 'Deli Boys.' (James Washington/Disney)

Deli Boys is back for more.

The Hulu comedy series has returned for season 2. The show follows two Pakistani-American brothers who lose everything when their convenience store-magnate father suddenly dies. They're forced to reckon with their father's secret double life in the crime world as they try to take up his mantle.

Saagar Shaikh and Asif Ali star as Raj Dar and Mir Dar in the series. Season 1 ended with the brothers uncovering who was responsible for their father's death. The actors told ABC Audio what fans can expect in the aftermath of that discovery throughout season 2.

Ali says Mir "has the confidence of whatever his plan is for the business."

"He's using that to do whatever it takes to make sure that the business is secure. But the recklessness is in his lack of consideration for the family," Ali said. "He's foregoing his personal life and everyone in the interest of making sure that DarCo is #1."

As for Raj, Shaikh says "he's trying to get back to the person he used to be" in the wake of learning Ahmad (Brian George) was responsible for his father's death.

"But in order to get there, he has to finish this guy off, because this guy is living rent-free in his mind. And he can't be the vibes guy if this guy is always on Raj's mind," Shaikh tells ABC Audio.

As for how season 2 differs from season 1, Shaik says it's faster and punchier this time around. Ali agrees, saying, "You're just right into the roller coaster and it just doesn't let up until the end."

All six episodes of Deli Boys season 2 are available to watch on Hulu now.

Disney is the parent company of ABC News and Hulu.

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Burned remains of father found

Burned remains of  father foundHENDERSON COUNTY — Deputies discovered burned human remains in a backyard barrel after a neighbor reported a strange odor, launching an investigation into a violent dispute between a Henderson County father and son. According to our news partner KETk and the Henderson County Sheriff’s Office, on Monday, May 11, at around 8 p.m., officers were dispatched after a neighbor reported a strong, unusual odor and believed a body might be inside a burn barrel.

When deputies arrived, they found a brown barrel lying on its side containing burned human remains. Deputies searched the residence and located an individual in one of the bedrooms who said he did not know about the incident. The neighbors who contacted law enforcement told deputies that Johnny, the father, and Ronny Medford, his son, had been fighting the previous day and into the early morning hours of May 11. Ronny was later seen leaving the residence that morning, and Johnny had not been seen since. The reporting party also said Johnny had come to her home several times seeking help, fearing that Ronny would hurt or kill him. Continue reading Burned remains of father found

East Texas junior high coach accused of sexually assaulting woman

MOUNT PLEASANT, Texas (KETK) — A former East Texas coach has been arrested after allegedly sexually assaulting a woman in February after driving her home.

According to an arrest affidavit from Titus County, a woman went to the Mount Pleasant Police Department late on Feb. 15 asking to speak privately with an officer. She reported that on Feb. 13 she had been drinking at an unknown residence and that Antione Javon Ross had been asked to take her home.

At about 12:29 a.m., the woman’s mother received a call from a friend saying the woman had been crying and claimed Ross had sexually assaulted her.
Hopkins County man arrested after allegedly stealing mower, power tools

The victim told police she does not remember going home and only recalls waking up and telling Ross to “get off her” before he left. She went to the emergency room for a SANE exam before speaking with officers.

Detectives later went to Mount Pleasant ISD and confirmed Ross was a junior high coach. When they approached him in the parking lot, Ross reportedly said, “I kinda know what you’re talking about,” according to the affidavit. He told detectives he had already spoken with his lawyer and would not answer questions.

Investigators obtained the woman’s SANE kit and related paperwork, which they said provided enough probable cause to charge Ross with sexual assault. Ross was arrested on April 29 and released in early May on a $100,000 bond.

Several summer camps await approval

Several summer camps await approvalTYLER — As the heat starts to settle in and children’s schedules free up for the summer, several youth camps are opening up their doors and stretching out their hammocks in the Piney Wood’s forests for the upcoming season. For 14 camps in East Texas, however, state approval hasn’t come through yet, leaving cabins empty and lake fun at a standstill.

According to our news partner KETK, as of May 22, 16 of 30 East Texas summer camps that have applied for licensing have been approved by the state, according to data from the Texas Department of State Health Services. The new licensing regulations result from Gov. Greg Abbott’s signing of several bills, including Heaven’s 27 Camp Safety Act, which enhances safety measures for summer camps after the tragic floods at Camp Mystic last summer. Under the bills, state officials require camps to comply with new safety measures, such as installing and maintaining emergency systems, to be eligible for licensing and operation. Continue reading Several summer camps await approval

Cruise ship killing: Stepbrother can stay out of jail, judge rules

A Carnival Cruise ship is docked at the PortMiami as the company becomes one of the first to be sued under Title III of the Helms-Burton Act at the Wilkie D. Ferguson Jr. U.S. Courthouse on May 02, 2019, in Miami, Florida. (Photo by Joe Raedle/Getty Images)

(FLORIDA) -- The 16-year-old boy accused of killing his stepsister on a cruise is allowed to stay out of jail with certain restrictions, a federal judge in Florida ruled.

In February, after the teen was charged as a juvenile, the 16-year-old was permitted to live with his uncle instead of being held in custody. But in April, when the case was moved to adult court, prosecutors said the teen should be detained.

"We do not know what triggered him," prosecutors argued in court Wednesday. "Who will be the next object he will become fixated on?"

The teen's lawyers have countered that he's a child who has been cooperative with the investigation and has shown no indication of hurting anyone in the months since his stepsister's killing. 

The suspect arrived at court Wednesday with his father and his uncle and was seen wearing an ankle monitor. The judge ruled he's only allowed to leave his house with his uncle and will be electronically monitored by authorities.

U.S. Magistrate Judge Edwin Torres said Wednesday that U.S. Marshals should examine options for potential detainment in the Tampa area.

Prosecutors allege the teenager "sexually assaulted and intentionally killed" his 18-year-old stepsister, Anna Kepner, during the family's November vacation on a Carnival cruise. Anna Kepner died from mechanical asphyxiation, officials said. 

The stepbrother has pleaded not guilty to first-degree murder and aggravated sexual abuse. He is set to go on trial in September.

Prosecutors are alleging more details about the night Kepner died from Wednesday's hearing as well as a newly unsealed transcript from a February detention hearing.

Closed-circuit television on the cruise captured many of the movements of Kepner and her stepbrother, as well as the movements of their 13-year-old sibling who was sharing their room, prosecutors said in the Feb. 6 transcript.

The night Kepner died, the suspect was seen entering their shared cabin around 7:35 p.m., the transcript said. At about 7:38 p.m., Kepner was seen entering the cabin -- the last time cameras would capture her alive, prosecutors said. 

At approximately 7:51 p.m., the 13-year-old sibling entered the cabin and quickly exited, prosecutors said.

The suspect was not seen leaving the cabin again until 10:13 p.m., when he is "looking left and right down the hallway, appearing to check if there is anyone in the hallway," prosecutors said. He's seen between 10:23 p.m. and 10:49 p.m. "entering and exiting the cabin approximately two more times," prosecutors said, and he put a privacy sign on the door at 10:53 p.m.

The video showed the 13-year-old and the suspect coming and going a few more times, prosecutors said. At 12:09 a.m., when the 13-year-old tried to get into the room, the suspect prevented him, and made the 13-year-old wait outside for a few minutes, prosecutors said.

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Google employee charged with using inside information to make $1 million on Polymarket

In this Dec. 19, 2023, file photo, a sign is posted in front of an office at Google headquarters in Mountain View, Calif. (Justin Sullivan/Getty Images, FILE)

(NEW YORK) -- A Google employee fraudulently made more than $1 million by using inside information to place Polymarket bets on what users were searching for on Google, according to a federal criminal complaint unsealed Wednesday in New York. 

For Michele Spagnuolo, these were sure bets because, as a Google software engineer, he had access to company data that tracked user searches, according to the complaint, which said Spagnuolo "misappropriated confidential and valuable nonpublic information from his employer and used that information to place a series of Google-related bets on Polymarket, a prediction market platform."

Spagnuolo, 36, is charged with commodities fraud, wire fraud and money laundering.

"Unlike the counterparties to his trades, Spagnuolo knew the outcome of these wagers before the trading public did because he had accessed Google's confidential, commercially valuable internal data," the complaint said.  

He correctly bet -- using an account under the name AlphaRaccoon -- that Google's most-searched person in 2025 would be the singer known as D4vd, according to the complaint. At the time he placed that bet, the prediction market Polymarket "assigned a near-zero probability to d4vd being 'the #1 searched person on Google this year,'" the complaint said.

After Google publicly announced its Year in Search 2025 results on Dec. 4, 2025, Spagnuolo's AlphaRaccoon account profited $1.2 million on his Google Year in Search 2025-related bets, federal prosecutors said.

"Once he won, Spagnuolo then took deliberate steps to conceal his unlawful use of nonpublic information by attempting to obscure the source and ownership of his unlawful proceeds," the complaint said.

Spagnuolo, an Italian citizen, was arrested Wednesday morning in New York, where he appeared briefly before a federal magistrate judge.

He did not enter a plea and was released on a $2.25 million bond, secured by $1 million cash, $50,000 of which needs to be posted Wednesday. 

A Google spokesperson, responding to the charges against Spagnuolo, said in a statement, "We're working with law enforcement on their investigation. The employee accessed our marketing material using a tool available to all employees, but using such confidential information to place bets is a serious breach of our policies. We've placed the employee on leave and will take the appropriate action."

This is the second case involving Polymarket that the U.S. attorney's office for the Southern District of New York has brought this year.

A U.S. special forces soldier, Gannon Van Dyke, pleaded not guilty last month to making fraudulent bets on Polymarket about the raid that ousted Nicholas Maduro from Venezuela. Van Dyke was positioned to know about the raid because he helped to plan it and took part in it, prosecutors said. 

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Advocacy group asks NY bar to investigate Todd Blanche’s role in Abrego Garcia case

Kilmar Abrego Garcia attends a rally for him as he arrives for his first check-in at the U.S. Immigration and Customs Enforcement Baltimore Field Office the day after a federal judge ordered his release from a detention in Pennsylvania, on December 12, 2025 in Baltimore, Maryland. An undocumented immigrant who had been living in the United States since 2011, Abrego Garcia was detained by federal agents and deported to the CECOT prison in El Salvador in March 2025, which the Trump Administration

(NEW YORK) -- A legal advocacy group has asked the New York bar to investigate Acting Attorney General Todd Blanche for potential violations stemming from his role in the prosecution of Kilmar Abrego Garcia.

The letter, from the Campaign for Accountability, was sent days after the federal judge overseeing the human smuggling case against Abrego Garcia dismissed the indictment, citing a "tainted investigation" by Blanche.

"The objective evidence here shows that, absent Abrego's successful lawsuit challenging his removal to El Salvador, the Government would not have brought this prosecution," U.S. District Judge Waverly Crenshaw wrote in his ruling on Friday.

Abrego Garcia, who had been living in Maryland with his wife and children, was deported in March of last year to El Salvador's CECOT mega-prison -- despite a 2019 court order barring his deportation to that country due to fear of persecution -- after the Trump administration claimed he was a member of the criminal gang MS-13, which he denies.

He was brought back to the U.S. in June to face human smuggling charges in Tennessee, after which U.S. District Judge Paula Xinis released him from ICE detention while he was awaiting trial.

Judge Crenshaw, in his decision Friday, wrote that the timing of a DHS agent's decision to reopen a closed investigation of a November 2022 traffic stop, as well as "now unrebutted public statements tying the reopened investigation" to Abrego Garcia's successful lawsuit "taints the investigation with a vindictive motive."

The criminal charges in Tennessee stem from a 2022 traffic stop that was disclosed in an April 2025 press release issued by the Department of Homeland Security, which said it had a "bombshell investigative report" regarding the stop, alleging that Abrego Garcia was a suspected human trafficker. The release included a screengrab of body camera video from the traffic stop.

"Instead of investigating the November 2022 traffic stop to identify who was responsible for the human smuggling, Blanche started the investigation to implicate Abrego," Crenshaw wrote. "He did so to justify the Executive Branch's decision to remove him to El Salvador."

In its letter filed on Wednesday, the Campaign for Accountability said that Blanche may have violated several rules within the New York Rules of Professional Conduct, including "prohibiting dishonesty, conduct prejudicial to the administration of justice, and the use of criminal charges to gain an advantage in a civil matter."

"A federal judge found that Acting Attorney General Todd Blanche personally launched a criminal prosecution not to enforce the law, but to provide cover for the administration after Mr. Abrego Garcia fought against his illegal deportation to El Salvador where he was imprisoned in CECOT," Campaign for Accountability Executive Director Michelle Kuppersmith said in a statement. "It is imperative that the New York Bar hold Mr. Blanche accountable for his reprehensible conduct."

A spokesperson for the Justice Department did not immediately respond to a request for comment from ABC News.

Abrego Garcia was not charged or arrested during the traffic stop. Body camera footage showed Tennessee troopers -- after questioning Abrego Garcia -- discussing among themselves their suspicions of human trafficking because nine people were traveling in the vehicle without luggage. 

A Justice Department spokesperson said in a statement following Crenshaw's order, "Another activist judge has placed politics above public safety. The judge's order is wrong and dangerous, and we will appeal."

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US stocks inch to more records after oil prices drop

US stocks inch to more records after oil prices dropNEW YORK (AP) — U.S. stocks inched to more records Wednesday after oil prices fell and eased the pressure on households and businesses worldwide.

The S&P 500 edged up by less than 0.1% and added to its all-time high set the day before. The Dow Jones Industrial Average climbed 182 points, or 0.4%, and the Nasdaq composite gained 0.1% as both indexes also set records.

Stocks of companies with big fuel bills helped lead the way on hopes that lower oil prices will remove a big drag on their profits. Norwegian Cruise Line Holdings climbed 6.1%, and United Airlines rallied 6.3%. Delta Air Lines rose 3% and set an all-time high.

The price for a barrel of Brent crude oil fell 4.6% to $92.25 after the ceasefire between the United States and Iran appeared to hold despite the U.S. military launching what it called “self-defense” strikes in southern Iran. A barrel of benchmark U.S. crude fell even more, 5.5%, to settle at $88.68 and is back to where it was in mid-April on hopes that the United States and Iran can reach an agreement to reopen the Strait of Hormuz and allow oil tankers to exit the Persian Gulf for deliveries again.

Stocks have been able to run to records despite the painful inflation and uncertainty caused by high oil prices largely because companies have reported surprisingly strong profits for the start of 2026, and the forecast is for them to continue.

Bath & Body Works rallied 9.7%, and Abercrombie & Fitch climbed 8.9% after both reported bigger profit for the latest quarter than analysts expected. That’s even as U.S. consumers continue to say they’re feeling discouraged about the economy and inflation.

Lululemon Athletica rose 2.9% after reaching a deal with its founder, Chip Wilson, where it will add a former chief marketing officer of ESPN and a former co-CEO of On to its board of directors.

On the losing side of Wall Street was Dick’s Sporting Goods, which dropped 6% despite delivering a profit for the latest quarter that edged past expectations. Analysts pointed to how much profit it wrung out of each $1 in revenue, which some called a bit weak.

Oil-and-gas stocks also sank, hurt by the dropping prices for crude. Exxon Mobil fell 1.3%, and Chevron slipped 1.3%. Halliburton dropped 3.6% to bring its gain for the year so far back toward 40%.

All told, the S&P 500 rose 1.24 to 7,520.36. The Dow Jones Industrial Average climbed 182.60 points to 50,644.28, and the Nasdaq composite gained 18.55 to 26,674.73.

In the bond market, Treasury yields eased after falling oil prices took pressure off inflation. The yield on the 10-year Treasury slipped to 4.48% from 4.50% late Tuesday and from 4.67% roughly a week ago.

It’s a respite following recent gains for yields in bond markets worldwide, which threatened to slow economies and undercut prices for stocks and all kinds of other investments. High yields have already forced the average long-term U.S. mortgage rate to its most expensive level since last summer, and they could curtail companies’ borrowing to build the artificial-intelligence data centers that have supported the U.S. economy’s growth recently.

In stock markets abroad, indexes were mixed across Europe and Asia. South Korea’s Kospi was one of the world’s best performers and jumped 2.3% after SK Hynix, which is a big beneficiary of the AI boom, soared 9.3%.

A day before, Micron Technology surged to become the latest Big Tech company to be worth more than $1 trillion because of AI excitement. Its stock has more than tripled already in 2026, and analysts at UBS said Tuesday it could soar even more because of how fundamentally AI has improved demand for computer memory. It rose another 3.6% Wednesday.

Matthew Perry’s assistant sentenced to over 3 years for injecting ketamine that killed ‘Friends’ actor

Matthew Perry attends the GQ Men of the Year Party 2022 at The West Hollywood EDITION on Nov. 17, 2022, in West Hollywood, California. (Phillip Faraone/Getty Images for GQ)

Matthew Perry's live-in assistant was sentenced on Wednesday to nearly 3 1/2 years in prison for administering the dose of ketamine that killed the Friends actor in 2023.

Kenneth Iwamasa, 61, is one of five people charged and convicted in what federal prosecutors called a conspiracy to illegally distribute ketamine to Perry. The assistant pleaded guilty in August 2024 to one count of conspiracy to distribute ketamine resulting in death.

U.S. District Judge Sherilyn Peace Garnett sentenced him to 41 months in prison and fined him $10,000, the Department of Justice said.

Prosecutors said Iwamasa, the final defendant to be sentenced in the case, injected Perry with ketamine repeatedly in the weeks before the actor's death without proper medical training — including the fatal dose on Oct. 28, 2023.

"When defendant Kenneth Iwamasa was hired as Matthew Perry's live-in personal assistant, he was acutely aware that Mr. Perry had suffered from drug addiction for most of his life. But rather than help Mr. Perry maintain sobriety, defendant became his enabler and drug supplier," prosecutors wrote in a sentencing memorandum ahead of Wednesday's sentencing hearing in Los Angeles federal court. "As defendant injected more and more ketamine into Mr. Perry, he saw — and was the only person to see — clear warning signs that Mr. Perry was in danger."

Prosecutors said Iwamasa found Perry unconscious inside his home at least two times in October 2023, as well as seeing him "freeze up" after a large injection, but, "ignoring these warnings," continued to inject him with illicit ketamine.

In the days leading up to Perry's death, Iwamasa injected him with "significant quantities of ketamine," prosecutors wrote. On the day Perry fatally overdosed, Iwamasa injected him with two doses before Perry asked him to prepare the jacuzzi and to "shoot me up a big one," prosecutors wrote.

Soon after administering the third dose, Iwamasa left to run errands for Perry and, upon returning, found him dead, face down in the jacuzzi, according to prosecutors.

Following Perry's death, Iwamasa "continued his wrongdoing by destroying evidence and taking other steps to cover his tracks and obstruct justice," prosecutors wrote. They allege he cleaned up ketamine bottles and syringes from the scene and omitted ketamine from the list of Perry's medications while being questioned by officers after calling 911.

Iwamasa ultimately provided "significant cooperation" in the government's investigation, including information on other defendants, prosecutors said while asking for 41 months of imprisonment.

In response to the government's sentencing memo, defense attorneys argued that Iwamasa did not abuse his "trusted position," saying he was an employee and "acted at all relevant times at the victim's direction rather than pursuant to his own discretion."

"Perhaps Defendant's employment relationship with the victim enabled him to more readily participate in the conspiracy to distribute drugs to the victim than a man on the street, but it should be noted that a number of proverbial men on the street did in fact participate in the same conspiracy," they wrote. "Multiple third parties were involved who did not share the same relationship with the victim. That fact alone should overcome the inference that it was Defendant's particular relationship with the victim that facilitated the crime."

Prosecutors said Iwamasa worked with two doctors to obtain ketamine for Perry, before turning to two dealers to obtain dozens of vials of ketamine, including the doses that killed the actor.

Iwamasa had known Perry since around 1992 before becoming his live-in assistant in 2022 for $150,000 a year, according to prosecutors. His responsibilities included those related to Perry's medical care, they said.

In a victim impact statement filed ahead of the sentencing, Perry's mother said the family was relieved when Perry took on an assistant whom she said understood the actor's battles with drug addiction, and that they all trusted Iwamasa.

"Kenny's most important job — by far — was to be my son's companion and guardian in his fight against addiction. His number one responsibility — ensure that Matthew remained what he wanted to be: drug free," she wrote. "Kenny knew, should he feel unduly pressured, that with one phone call to any number of the people in Matthew's orbit, reinforcements would be on the way, and his job would be safe."

"But instead of protecting Matthew, he aided and abetted illegal drug taking, arranged for one source of supply, then another. Shot the drugs into Matthew's body though he was not in the least qualified," she continued. "He did it even though he could see, anyone could have seen, it was so obviously dangerous. And he did it again and again."

Iwamasa is the fifth and final defendant in the case to be sentenced in the scheme to illegally distribute ketamine to Perry.

Prosecutors said Jasveen Sangha, reportedly known as the "Ketamine Queen," worked with Erik Fleming to distribute 51 vials of her ketamine to Iwamasa, including the doses that killed Perry.

Sangha was sentenced last month to 15 years in prison. She pleaded guilty last year to one count of maintaining a drug-involved premises, three counts of distribution of ketamine and one count of distribution of ketamine resulting in death or serious bodily injury.

Fleming was sentenced earlier this month to two years in prison after pleading guilty to one count of conspiracy to distribute ketamine and one count of distribution of ketamine resulting in death.

The two doctors convicted in the case were sentenced last year.

Mark Chavez, who once ran a ketamine clinic, admitted to selling fraudulently obtained ketamine to Salvador Plasencia, who briefly treated Perry, which was then sold to the actor in the weeks before his death.

Chavez pleaded guilty to one count of conspiracy to distribute ketamine and was sentenced to eight months of home confinement in December 2025.

Plasencia pleaded guilty to four counts of distribution of ketamine and was sentenced to 30 months in prison in December 2025.

They both surrendered their medical licenses.

Copyright © 2026, ABC Audio. All rights reserved.

Arrest made in store robbery

Arrest made in store robberyTYLER – According to police, a man is incarcerated after a woman was threatened and held at knifepoint during the robbery of a Tyler Dollar General. Aggravated robbery is the charge against 62-year-old Richard Gerard Taplin. On April 25, an officer was dispatched to a Dollar General in the 2300 block of West Erwin Street. According to an arrest document, a store employee told the officer that a man, later identified as Taplin, had approached her behind the counter and held a knife up to her side. Taplin, she claimed, insisted that she open the register. The woman told the officer that she believed Taplin would stab her when he said, “If you tell them anything, I will work on you,” as two male customers started to enter the store, according to the affidavit. Continue reading Arrest made in store robbery

Steven Spielberg narrates ‘Disclosure Day’ final trailer

Emily Blunt in 'Disclosure Day,' directed by Steven Spielberg. (Niko Tavernise/Universal Pictures and Amblin Entertainment)

The final trailer for Steven Spielberg's film Disclosure Day has arrived.

Universal Pictures released the final trailer for the new, original event film on Thursday. It returns Spielberg to his extraterrestrial roots.

Josh O'Connor, Emily Blunt, Colin Firth, Eve Hewson and Colman Domingo star in the thriller, which is based on a story by Spielberg.

Spielberg is the top-grossing director of all time. He previously explored stories about extraterrestrial life in the films E.T. the Extra-Terrestrial, Close Encounters of the Third Kind and War of the Worlds.

The trailer starts with Spielberg doing a direct-to-camera address.

"I am much more inclined now than I was when I made Close Encounters to really believe that we're not the only intelligent civilization in the universe," Spielberg says, before footage from the film kicks in.

O'Connor's character, Daniel Kellner, then admits he has stolen long-kept government secrets about proof of living beings not on Earth.

Spielberg continues, saying, "This is a story about us. All of us, up against the most extraordinary event in human history."

David Koepp, the writer of Jurassic Park, The Lost World: Jurassic Park, War of the Worlds and Indiana Jones and the Kingdom of the Crystal Skull, wrote the screenplay for this new movie.

Disclosure Day arrives in theaters on June 12.

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