{"id":50825,"date":"2025-07-21T15:38:15","date_gmt":"2025-07-21T19:38:15","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/thune-considers-canceling-august-recess-after-meeting-trump-skechers-acquisition-clears-hurdle\/50825\/"},"modified":"2025-07-21T15:38:15","modified_gmt":"2025-07-21T19:38:15","slug":"thune-considers-canceling-august-recess-after-meeting-trump-skechers-acquisition-clears-hurdle","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/thune-considers-canceling-august-recess-after-meeting-trump-skechers-acquisition-clears-hurdle\/50825\/","title":{"rendered":"Thune Considers Canceling August Recess After Meeting Trump; Skechers Acquisition Clears Hurdle"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Senate Majority Leader John Thune<\/strong> is &quot;thinking about&quot; <strong>President <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>&#39;s<\/strong> suggestion to cancel the <strong>August recess<\/strong> to address pending nominations, following their meeting where the removal of Fed Chair Jerome Powell was <em>not<\/em> discussed.<\/li>\n<li>A <strong>U.S. judge<\/strong> has denied a shareholder&#39;s bid to block <strong>Skechers&#39;<\/strong> (<a href=\"\/stock\/SKX\">SKX<\/a>) <strong>$9.4 billion acquisition<\/strong> by <strong>3G Capital<\/strong>, removing a key obstacle to the footwear industry&#39;s largest-ever buyout.<\/li>\n<li>The <strong>U.S. State Department<\/strong> has approved a <strong>$620 million sale<\/strong> of the Naval Strike Missile Coastal Defense System to <strong>Bulgaria<\/strong>, as reported by the Pentagon.<\/li>\n<li><strong>S&amp;P<\/strong> forecasts that the <strong>U.S. construction market<\/strong> will be most affected by new tariff policies, with activity expected to slow during the second half of 2025, leading to increased building material prices.<\/li>\n<\/ul>\n<h2>Political and Economic Developments<\/h2>\n<p>Senate Majority Leader John Thune met with President <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> and is now considering Trump&#39;s suggestion to cancel the upcoming August recess. While the topic of removing Fed Chair Jerome Powell was not discussed during their meeting, Thune did acknowledge that disagreements with the Fed Chairman regarding interest rates are possible. Thune also stated that increased oversight is needed for Federal Reserve renovations. Despite the discussions about potentially cancelling the recess, Thune noted that members typically return home at this time of year to engage with their constituents.<\/p>\n<p>In other political news, U.S. Secretary of State Marco Rubio met with Philippine President Ferdinand Marcos to discuss strengthening supply chain resilience, alongside broader economic and security cooperation. Internationally, the U.S. State Department has greenlit a <strong>$620 million sale<\/strong> of the Naval Strike Missile Coastal Defense System to Bulgaria, a move confirmed by the Pentagon.<\/p>\n<h2>Corporate and Market Insights<\/h2>\n<p>A significant hurdle has been removed for <strong>Skechers&#39;<\/strong> (<a href=\"\/stock\/SKX\">SKX<\/a>) proposed <strong>$9.4 billion acquisition<\/strong> by <strong>3G Capital<\/strong>. A U.S. judge denied a shareholder&#39;s attempt to block the deal, ruling that there was no proof of imminent or irreparable harm. This decision paves the way for what is set to be the footwear industry&#39;s largest-ever buyout, despite ongoing litigation.<\/p>\n<p>On the economic front, <strong>Fitch Ratings<\/strong> indicates that policy risks are clouding the U.S. credit outlook. Meanwhile, <strong>S&amp;P<\/strong> projects a slowdown in the U.S. construction market during the second half of 2025, primarily due to the impact of new tariff policies. These tariffs are also expected to cause building material prices to increase.<\/p>\n<p>The <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a> market remains range-bound below <strong>$3,500\/oz<\/strong>. For gold prices to break higher, a clear U.S. economic slowdown or aggressive Federal Reserve interest rate cuts would be necessary. Despite ongoing central bank buying and geopolitical risks, mixed economic signals are currently keeping gold&#39;s upside in check. Separately, tens of billions of dollars were secured following a G7 decision in Italy, an initiative driven by the United States and other countries, with a focus on political decisions rather than minor assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Senate Majority Leader John Thune is &quot;thinking about&quot; President Trump&#39;s suggestion to cancel the August recess to address 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