Key Takeaways
- Donald Trump announced an imminent meeting with Russian President Vladimir Putin, stating the summit location would be revealed today and would be "popular," amidst ongoing efforts to end the Russia-Ukraine conflict.
- Canada has moved to further restrict Russia's war efforts by lowering its price cap on seaborne Russian-origin crude oil from USD$60 to USD$47.60 per barrel.
- In corporate news, Nexstar Media Group (NXST) is reportedly in advanced talks to acquire TEGNA (TGNA), while Apple (AAPL) shares surged 13.3% this week, marking their largest weekly gain since 2020, contrasting sharply with The Trade Desk (TTD) which saw its shares plummet 39%.
- President Trump also signed a peace deal to end the Armenia-Azerbaijan conflict, receiving thanks from Azerbaijani President Aliyev for lifting restrictions, and is expected to appoint David Rosner as Chairman of the Federal Energy Regulatory Commission (FERC).
President Donald Trump indicated on Friday that the location for his upcoming summit with Russian President Vladimir Putin would be announced today and described as "popular." This announcement comes as Trump continues to emphasize his commitment to ending the Russia-Ukraine war, expressing his belief that Putin desires peace and stating he is "looking to get some territories back" for Ukraine. Putin, for his part, has reportedly indicated he would agree to a full cease-fire if Ukraine withdraws troops from all of its Eastern Donetsk region. Discussions around a potential meeting have intensified, with the Kremlin confirming a venue has been agreed upon, though undisclosed, and the UAE, Hungary, Switzerland, and Rome cited as potential locations.
In a separate significant diplomatic move, President Trump signed a peace deal aimed at resolving the long-standing conflict between Armenia and Azerbaijan. Azerbaijani President Aliyev publicly thanked Trump for removing restrictions on Azerbaijan, highlighting the direct impact of the deal. This agreement reportedly includes a pact granting the U.S. exclusive rights to develop a transit route through Armenian territory, to be named the "Trump Route for International Peace and Prosperity." Additionally, Trump is expected to appoint David Rosner as Chairman of the Federal Energy Regulatory Commission (FERC), according to Axios.
On the economic front, Canada announced plans to further restrict Russia's war efforts by lowering its price cap for seaborne Russian-origin crude oil. The new cap will be set at USD$47.60 per barrel, down from USD$60. This move is intended to limit Russia's financial capacity amidst the ongoing conflict.
Meanwhile, the U.S. stock market closed positively, with the S&P 500 unofficially closing up 50.01 points (0.79%) at 6,390.01, the NASDAQ up 201.89 points (0.95%) at 21,444.58, and the Dow Jones up 201.04 points (0.46%) at 44,169.68. Technology stocks saw notable movements, with Apple (AAPL) shares rising 13.3% this week, marking their biggest weekly increase since 2020, following news of a significant investment in U.S. manufacturing. Conversely, The Trade Desk (TTD) experienced a substantial drop, with its shares plummeting 39%, their largest drop ever, following its Q2 2025 earnings report which revealed revenue growth but concerns over operating margins and a cautious outlook. In media industry news, Nexstar Media Group (NXST) is reportedly in advanced negotiations to purchase TEGNA (TGNA), according to The Wall Street Journal. S&P Global Ratings also affirmed Austria's 'AA+/A-1+' ratings with a stable outlook.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.