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Another major development involved the proposed sale of U.S. Steel Corp to Nippon Steel, which is expected to be blocked by President Biden on national security grounds. This deal, valued at $14.1 billion, has become increasingly contentious and is likely to impact U.S. Steel's stock performance moving forward.

Earnings Reports and Future Outlook

As companies continue to report their earnings, mixed results have surfaced. General Motors announced it would halt funding for its robotaxi division, Cruise, in a strategic shift aimed at cutting costs by about $1 billion annually. Though the company continues to invest in advanced driver assistance technologies, this decision reflects the challenges facing autonomous vehicle development.