From the desk of Rich Stephens
News for the week ending 2-8-26
Below find the expanded text from tonight’s broadcast. For corrections or additions, contact Rich directly.
Politics
Clintons To Testify Before House Oversight
In Washington D.C. Tuesday, February 3, James Comer announced that the Clintons will appear for a video recorded and transcribed deposition later this month. The House Oversight Committee is seeking testimony in relation to Jeffrey Epstein. The Clintons failed to appear before their previously scheduled deposition hearing and the oversight committee moved to hold them in contempt of Congress. Former Secretary Clinton is now scheduled to appear on February 26 and the former President will appear the following day.
Trade Agreement With India
Monday, February 2, Indian Prime Minister Modi posted to X to announce an updated tariff agreement with the United States. President Trump agreed to lower tariffs from 25 to 18% and India agreed to stop buying Russian oil and remove tariffs on American goods completely. Both leaders expressed gratitude and excitement for the deal.
Ryan Routh Sentenced
On Wednesday, February 4, attempted Trump assassin Ryan Routh was sentenced to life in prison plus 7 years. He was convicted of trying to assassinate then candidate Trump, possession of a firearm by a felon and possessing a firearm with an obliterated serial number. His attorney indicated his intention to file an appeal.
US Attorney Sentencing Announcement
Statistics on ICE, and Deportation
Cygnal released poll data from a survey on deportation, ice and the rule of law. The poll was taken January 27 and 28, and indicates that regardless of party affiliation or political leaning, 73% of Americans believe that entering the country without legal permission is breaking the law. Voters support deportation efforts by a 2:1 margin and 54% support ICE enforcement of federal immigration laws and the removal of those here illegally.
Noem on Border Security and Statistics
Wednesday February 4, Kristi Noem spoke in Nogales Arizona to provide updates on the border wall. She said that the flow of fentanyl is down 56% since Trump took office last year. In that same time period, 145,000 missing children have been located and recovered. She also noted that CBP encounters at the southern border have dropped 95% to the lowest daily average in history. During the Biden administration customs and border patrol apprehended an average of 5100 people per day, and that number is now less than 250. She also said that fentanyl deaths in the United States have dropped by 30%.
Kristi Noem Full Press Conference
Tom Homan Minneapolis Updates
Border Czar Tom Homan spoke Wednesday February 4 to announce new levels of cooperation with ICE from counties in Minnesota. He said that jails have been coordinating with customs and border protection to transfer individuals into ICE custody directly. As a result, he is moving 700 ICE agents out of Minnesota.
He also mentioned that all agents deployed in Minneapolis have been issued body cameras. He said that while his goal is to end the surge in Minnesota as quickly as possible, that is largely dependent on an end to interference with ICE operations. Kristi Noem indicated that when funding is available, body cameras will be provided to all DHS officers nationwide.
Tom Homan Full Press Conference
Kristi Noem Statement About Cameras
Charlie Kirk Assassination Trial
The judge in the case of the murder if Charlie Kirk ruled on Tuesday February 3 on a number of motions. He put controls around where the court room camera can be, and what it can and cannot show. Tyler Robinson’s attorneys spoke, insisting that any video or images of their client will prevent him from receiving a fair trial, saying “we do not want to see still images, again, of Mr. Robinsons face in the media with more speculation about meaning of his facial expressions or the lack thereof.’
Prosecutors pushed back, saying that the hearings is public and that it’s appropriate to allow still photography during hearings. A representative for a news media collective reiterated the opinions of the prosecution. The judge ordered the still photographer behind the bar, so expect a lot of video and images of the back of people’s heads.
Full Court Hearing (The Audio in the first half is bad, but there was only one feed)
New SNAP Rules
Beginning March 1, provisions of President Trump’s One Big Beautiful Bill will take effect for SNAP recipients. The Supplemental Nutritional Assistance Program will once again require recipients to work 20 hours per week to receive benefits for more than 90 days. That work requirement can be satisfied with job training, employment programs, GED and Adult education programs, vocational training or paid employment. This return to the 1996 Clinton era rules is more strict, increasing the required age, removing provisions for veterans and homeless. The new provision also removes eligibility from refugees, asylum seekers, and illegal aliens. While Obama didn’t completely roll back the Clinton era requirements, he removed the work requirement, and increased waiver availability as well removing time limits.
Las Vegas Illegal Biolab
Monday, February 2, Las Vegas PD and the FBI released a joint statement about an investigation into an illegal biolab operating out of a residence in Las Vegas. They had information linking the Las Vegas home to a previous bust of a similar biolab in California in 2023. Inside the home they found numerous refrigerators and freezers as well as bottles and jugs containing unknown liquid substances. All were consistent with the items found in the 2023 lab investigation. The FBI collected more than 1000 samples. Samples at the lab in California included HIV, Malaria, hepatitis and Ebola.
House Select Committee On China (from the 2023 lab in California)
Video from FBI (The audio is not part of my sources)
Oklahoma Operation Blunt Force
Wednesday, February 4, Oklahoma Attorney General Gentner Drummond announced arrests in Operation Blunt Force. The investigation led to 50 search warrants, 20 arrests, 14 recovered firearms, 4 deportations and thousands of pounds of black market marijuana destroyed. The Chinese drug ring operated out of 8 states. The syndicate used straw owners to obtain grow licenses from the state. Those licenses were then used to grow marijuana that was sold illegally on the black market rather than going to dispensaries.
Operation Blunt Force Full Press Conference
Finance
Markets
Markets were mixed again this week. The Dow Jones Industrial Average climbed over 50,000 for the first time in history, ending the week up 2.5% and closing at 50,115. But the Nasdaq dropped 430 points, closing at 23,031, a drop of nearly 2%.
The S&P 500 lost 7 points, finishing at 6932, and gold futures stabilized with the price of the metal. Futures closed at $4,979, with the spot market closing at $4,966. Silver fell as low as $70 / ounce this week before closing out at $77.94 per ounce.
Sports
Super Bowl
We are in what I call Sports Purgatory. College football is over and NFL is winding down. Baseball and F1 haven’t started yet. Basketball season hasn’t really heated up. Tonight, February 8th is the Super Bowl featuring the Patriots and the Seahawks, but largely overshadowed by something called Bad Bunny and “highly anticipated” commercials that have mostly been leaked already. Seattle is a 4.5 point favorite.
Tampa Bay Rays Stadium Update
Tuesday, February 3, Florida Governor Ron Desantis announced a new partnership with the Tampa Bay Rays that will keep the MLB team in Tampa Bay. The new, 130 acre campus will partner with Hillsborough College. The Rays website describes the 31,000 seat park as “the most intimate in Major League Baseball.” It will be the lowest capacity park in the majors. They are targeting the 2029 season. Elsewhere in MLB, pitchers and catchers will begin to report in the next few days, with spring training beginning February 20.
Olympics
Friday, February 6, the opening ceremony for the 2026 Winter Olympics kicked off the Milano Cortina Games in Italy. You can enjoy bobsledding, curling, figure skating and on NBC through february 22.
College Basketball
In college basketball, 14th ranked UNC beat 4th ranked rival duke 71-68 on Saturday. 15th ranked Vanderbilt lost to unranked SEC opponent Oklahoma 92-91. Number 10 Michigan State took down 5th ranked Illinois 85-82 in an overtime contest.
And the defending national champion Florida Gators dismantled the Texas A&M Aggies in College Station, Texas to take the number one spot in the SEC. The final of that game was 86-67.
Rich Stephens
The Cold Take