Top News Stories for January 28, 2025

White House Pauses Federal Financial Assistance Programs

The White House has issued a memo ordering a pause on federal financial assistance programs pending a review by the Trump administration. The broad language of the memo has caused confusion among federal, state, and local officials, as well as nonprofits and lawmakers. The pause, effective Tuesday at 5 p.m., applies to various grants and loans but exempts Medicare, Social Security benefits, and direct individual assistance. The directive requires federal agencies to provide detailed information on affected programs by February 10. The move is expected to face legal challenges from Democrats who argue it violates Congress’s power of the purse.

Investigation Finds NYPD Officials Violated Social Media Policies

An investigation by New York City’s Department of Investigation has concluded that top NYPD officials violated the department’s social media policies by posting mocking and potentially harmful tweets targeting journalists, a judge, and an elected official. The officials involved include Chief of Department John Chell and Deputy Commissioner for Operations Kaz Daughtry. The DOI report highlighted a misalignment between the NYPD’s social media policy and the city’s broader policies, suggesting a need for improved oversight to prevent such violations. The NYPD has since made changes to its social media practices and plans to review the DOI’s recommendations.

Cease-Fire in Gaza Allows Residents to Assess Widespread Destruction

Following a cease-fire in Gaza, residents have returned to areas like Jabalia to find widespread destruction caused by 15 months of intense fighting between Hamas and the Israeli military. The conflict has left entire neighborhoods flattened, with no basic utilities and immense challenges ahead for reconstruction. Researchers estimate over 74% of buildings in some northern regions have been severely damaged or destroyed. Rebuilding efforts will face significant hurdles, posing a long-term challenge for the Palestinian enclave.

U.S. Consumer Confidence Declines Further in January

In January, U.S. consumer confidence continued to decline for the second consecutive month, driven by increasing concerns about the labor market and inflation. The Conference Board reported that the consumer confidence index dropped to 104.1 from a revised 109.5 in December, contrary to economists’ expectations for a slight rise to 105.6. Notably, perceptions of current labor market conditions deteriorated for the first time since September, and views on business conditions weakened for the second month in a row. Inflation and price issues were prominently mentioned in consumer responses.

Tech Stocks Rebound After Previous Losses

On January 28, 2025, tech stocks orchestrated a recovery in U.S. indexes after suffering notable losses due to skepticism around the hefty investments funneled into artificial intelligence (AI). The S&P 500 increased by 0.9%, the Dow Jones Industrial Average rose by 0.3%, and the Nasdaq composite saw a 2% rise. Nvidia, notable for its AI-related chips, experienced a 9% surge after a nearly 17% slump the previous day. Shares of other AI-related companies like Broadcom rose as well. Concerns had emerged over a Chinese company, DeepSeek, creating cost-effective AI models, potentially impacting the current and future spending on AI infrastructure.

Shooting at Indiana Store Leaves Three Dead, Including Suspect

A shooting incident at Martin’s Super Market in Elkhart, Indiana, resulted in three deaths, including the suspected shooter, and left two police officers wounded. Authorities responded to a 911 call and found two victims deceased inside the store. The suspect was fatally shot outside after shooting and injuring two officers, one of whom has been released from the hospital while the other remains in stable condition. The names of the victims and officers have not been released. Local officials expressed condolences and urged prayers for everyone affected.

Swedish Police Arrest Man Attempting to Enter Russian Embassy

Swedish police arrested a 45-year-old man attempting to force his way through the gates of the Russian embassy in Stockholm using a car. The attempt was unsuccessful, and the man was detained on suspicion of aggravated trespass. The car did not contain any suspicious items, and the motive behind the incident remains unclear. The Russian embassy confirmed the involvement of a Ukrainian citizen residing in Sweden and reported no significant damage from the incident. Both the embassy and local police are familiar with the individual, but Swedish authorities have not disclosed further details regarding his identity or nationality.