Judge gives press a pass

0:00Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. It's good to be here with you on this Thursday, September 24. I'm Julie Morgan. A federal judge has ordered the White House to restore access for journalists from CNN, MSNOW, and Politico. The judge ruled that the ban on the three media outlets was likely unconstitutional, an issued a temporary restraining order that reinstates their access. The order lasts 14 days and allows them access while legal proceedings play out. This is a major setback for the Trump administration in one of its biggest battles with the media. U.S. District Judge Tim Kelly issued his order early this morning. The order was in response to a lawsuit that the news organizations filed, contesting the ban that the president announced on September 18. And Trump had said on social media that the three outlets should not be able to constantly

1:01write or report fiction and lies. Justice Department lawyers sought to justify the ban on the grounds of national security. Open AI is under investigation in Australia. After an AI agent gained unauthorized access to the Medicare Statistics Reporting Service Portal. Australia's Prime Minister said the open AI agent access both public and non-public files on the portal. The incident happened on June 18. It occurred while open AI was conducting internet-based research into public medical spending. Australia's Prime Minister said this situation is obviously unacceptable. Services Australia was not notified of the incident until September 10. The Prime Minister said he spoke with the CEO of Open AI and expressed extreme concern about the incident. He said he was disappointed that it took the company way too long to inform the government what had occurred. He went on to say that the nature of the notification was also unacceptable.

2:03The notification was an email sent to the public mailbox. An open AI spokesperson said the company identified activity involving several Australian government websites and services during an internal evaluation. They said they found no evidence of patient records being accessed. As China's state visit to the US gets underway, we're learning about an extension of a trade truce between the two countries. The agreement has been extended by two months beyond its scheduled November 10th expiration. US Treasury Secretary Scott Besant said the extension gives negotiators more time to pursue a comprehensive trade deal. The deal will now be extended to January 10th. Now if we look at a few other articles that are trending, McDonald's puts $8.5 billion behind its next big comeback. Hopes for a new Boeing China deal reportedly fade. And is Draft King's betting big on losing gamblers?

3:07On our catalyst watch for the day, of course we're following the fact that President Trump will meet with China's president at the White House. Key topics are expected to include Taiwan, AI, tariffs and global conflicts. The CEOs of NVIDIA, Open AI and Qualcomm are expected to attend the state dinner this evening. Sure when Williams will hold a financial community presentation. And there's a bond hearing related to Paramount's plan $110 billion purchase of Warner Brothers Discovery. In Wall Street stock index features are in the red. Crude oil is up 2.1% at $94 a barrel. Brank crude is up 2.5% at 105. The footsie 100 is down 0.1% and the DAX is down 0.5%. Stitch fix is on our biggest movers list. SFIX is down 18% after the company reported MIXQ4 and issued below consensus fiscal year

4:122027 revenue guidance, citing a tougher consumer environment and a lower starting active client base. And on today's economic calendar at 8.30 a.m. jobless claims and at 10 a.m. new home sales. That's it for today's Wall Street breakfast. Thanks for listening. To take full advantage of seeking alpha with coverage on significant stocks and ETFs, come a premium subscriber. Check out seekingalpha.com slash subscriptions. I'm your host Julie Morgan. Go out and make it a great day.