10-26-25
From the desk of Rich Stephens
News for the week ending November 1, 2025.
Below find the expanded text from tonight’s broadcast. For corrections or additions, contact Rich directly.
Current Events
Mississippi Monkeys
We begin in Mississippi, where earlier this week on I59, a truck carrying research monkeys crashed and the primates escaped. Initial reports indicated that the monkeys were aggressive and infected with Hepatitis, Covid and Herpes. All but three were found and euthanized the same day. Later, Tulane university released a statement asserting that the monkeys had not been exposed to any pathogens and were being transported for research. Three monkeys remain at large in Jasper County Mississippi.
Motorcycle Chase
Monday, a San Bernardino County Sheriff’s deputy was shot while responding to a domestic dispute. The suspect fled on a motorcycle and initiated a high speed chase that ended in a shocking crash. While the suspect suffered minor injuries, the deputy succumbed to his wounds that day.
Charlie Kirk Assassin Trial
The man accused of assassinating Charlie Kirk in September had a virtual hearing on Tuesday. Several motions were before the court. The court ruled that the defendant may appear in civilian clothing to preserve the presumption of innocence. However, given the potential of life in prison or death as an outcome of this case, the judge denied the request to appear without restraints. He ordered the sheriff’s department to use the least restrictive restraints to maintain safety. He further prohibited the media from filming or photographing the defendant’s restraints, or while he is entering or exiting the court room or standing while restrained. His next appearance is not until January.
Politics
Federal Government Shutdown: Snap Funding Expires
Today is the 33rd day of the federal government shutdown. In addition to the expiration of the Affordable Care Act policy premium subsidies that have expired, three food assistance programs ran out of money Friday.
The Supplemental Nutrition Assistance Program or SNAP provides food benefits to eligible families. The program aids purchases of healthy foods like fruit, vegetables, meat and poultry. As of May, 2025, nearly 42 million Americans receive these benefits. Eligibility varies by state and is determined at the state level.
SNAP also includes a special program for Women, Infants and Children. Wic is available for women who are pregnant or postpartum up to one year and children up to 5 years old. Applicants must have a family income at or below 185% of the poverty level and be at nutritional risk. The program provides nutrition education, breastfeeding support and free, healthy foods. May 2025 data shows nearly 6.9M participants.
The third impacted program is the National School Lunch Program. This program provides free or reduced price meals to nearly 30 million students.
Congressional funding is required for these programs and expired on September 30. The USDA was able to utilize shutdown contingency plans, carry-over balances and unspent funds to extend benefits through October. Democrats have sued the USDA, saying that additional congressional contingency funds are available and should be utilized to further extend the programs. However, the USDA asserts that those funds are not legally available. According to the agency, contingency funds are not available to support fiscal year 2026 regular benefits. This is because without an appropriations bill from Congress, those benefits no longer exist.
Thursday, President Trump urged Senate Republicans to end the filibuster. Republican members of both the house and the senate have pushed back, saying that the rule is critical to forge consensus and compromise in the government.
Friday, two federal judges issued rulings directing USDA to fund the programs. In response to the rulings, the president said he has instructed government attorneys to get clarity from the court about exactly how to fund SNAP legally.
School Lunch Participation Numbers
Trump Urges Filibuster Removal
Trump Statement on Court Ruling
USDOT VS. California
The Department of Transportation withheld $40M from California for failing to comply with English Language Proficiency standards. This comes after several high profile cases involving non-citizens with commercial licenses causing fatal highway accidents. Secretary Sean Duffy signaled this week that after continued non-compliance, he will withhold an additional $160M from California. Gavin Newsome maintains that the state does not determine commercial driver license eligibility. He has noted that states must confirm all application information through federal databases.
Trump Asia Trip
President Trump spent most of the week in Asia. In Kuala Lumpur last weekend, he facilitated a peace deal between Malaysia and Cambodia. While there, he also secured trade agreements with Malaysia, Cambodia, Vietnam and Thailand. These deals aim to diversify supply of minerals and add resilience to the global supply chain. In Japan, a Technology Prosperity Deal to collaborate on AI, 6G, space exploration and fusion technology. Trump wrapped up in South Korea where he struck a similar deal with that government. South Korea then facilitated a meeting between Xi Jinping of China and the American President. Tariffs will be reduced or removed between the United States and each of these countries.
Trump Statement From Air Force 1
World
Israel Gaza Conflict
In Israel, an IDF soldier was killed Tuesday by Hamas. Qatar confirmed this to be a breach of the cease fire agreement. Israel then conducted air strikes on Hamas cites in Gaza. Video circulated showing Hamas burying bodies to later pretend to find them, before returning them to Israel. Israel and the Red Cross strongly condemned this as deception Israel maintains that Hamas knows where all of the bodies are and is simply choosing to violate the cease fire agreement and withhold the hostages.
IDF On Hamas Fake Finding Bodies
Israel Foreign Ministry on Body Finding Hoax
Israel Government Official Statement
Israel Government Official Statement 2
Finance
Interest Rates / Fed Statement
In Finance, Jerome Powell spoke Wednesday, following the Fed meeting. Relying on private sector data for this month’s report, he stated that the labor market is gradually cooling and inflation is somewhat elevated. They lowered interest by a quarter of a point during Wednesday’s meeting. He noted that housing remains weak, but consumer and business spending is stronger.
Markets
Markets rose for the third consecutive week. The Dow gained a modest 355 points. The NASDAQ added 520 points and the S&P500 rose just 49 points on the week. Gold fell to a 4 week low, closing at 3996 per ounce.
Sports
F1
Moving to sports, Sunday, Lando Norris led the Mexican Grand Prix after a 4 wide contest for turn one. He never relinquished that lead, winning the race and passing his teammate for first place in the drivers championship. Charles Leclerc finished second with max Verstappen completing the podium.
NCAA Football
In College Football, unranked, 3 and 6 West Virginia defeated 22nd ranked Houston 45-35. 9th ranked Vanderbilt fell to Texas 34-31 after scoring 21 unanswered 4th quarter points, and nearly recovering an onside kick with seconds remaining in the game. Bill Belichick got his first ACC win with UNC against Syracuse Friday night. His squad won that game 27-10. Miami played their first out-of-state game of the season yesterday. The 10th ranked Hurricanes traveled to Texas where the Mustangs of SMU kicked a field goal to tie the game with 25 seconds remaining. After intercepting a pass in overtime, SMU scored to defeat Miami 26-20. Fifth ranked Georgia escaped the Florida Gators at world’s largest outdoor cocktail party in Jacksonville. The 24-20 final score could have been 31-20 but bulldog quarterback Gunner Stockton knelt at the 1 to keep the ball and run out the clock. Georgia was a 7.5 point favorite and did not cover the spread. In the later games, undefeated number 8 Georgia tech lost 36-48 to unranked nc state. Eighteenth ranked Oklahoma went to Knoxville and beat Tennessee 33-27.
MLB World Series
Finally in the MLB, Game 3 of the world series Monday night was an 18 inning marathon that saw Shohei Ohtani step to the plate 9 times. He hit two home runs, had 3 RBI’s and was walked 5 times. The Dodgers won 6-5. The Jays bounced back Tuesday, winning 6-2 to tie the series. In Game 5 Wednesday, Toronto needed only one pitch to take a 1-0 lead. Two pitches later they went yard again for a 2-0 lead in a game they won 6-1. The Dodgers punched back Friday night with a 3-1 win to force game 7. Shohei Ohtani started Saturday night against Max Scherzer. Despite scoring 3 runs in the bottom of the first, Toronto let the lead slip away late, ending the 9th inning tied at 4. Will Smith hit a solo home run in the top of the 11th making it 5-4. Yamamoto closed the frame to secure a second consecutive World Series win for the Dodgers. Ohtani is a minus fifty thousand favorite for the NL MVP.
Rich Stephens
The Cold Take
