US stocks edge higher ahead of the Fed’s policy meeting this week, with a quarter-point cut expected Wednesday. President Trump continues to pressure the central bank while seeking to oust Fed Governor Lisa Cook, and the Senate votes on Fed nominee Steven Myron today. Elon Musk discloses a $1B open-market purchase of Tesla (TSLA) shares, his largest insider buy ever, lifting the stock. Trade talks between the US and China resume in Spain, with TikTok and tariffs on the agenda, as Beijing escalates pressure on Nvidia (NVDA) with an anti-monopoly probe into its 2020 Mellanox deal. China also launches investigations into US analog chipmakers Texas Instruments (TXN) and Analog Devices (ADI) for dumping. Meanwhile, President Trump floats ending quarterly earnings reports in favor of semiannual disclosures. In trending tickers, Hims & Hers (HIMS) sinks after the FDA flagged a misleading Wegovy ad.

Takeaways:

Fed expected to cut 25 bps Wednesday; Trump pressures central bank, Senate to vote on nominee Myron
Musk buys $1B in Tesla shares, his largest insider purchase
China probes Nvidia, Texas Instruments, and Analog Devices amid trade talks
Trump proposes scrapping quarterly earnings reports; Hims & Hers falls on FDA ad warning

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Fed meeting nears, Musk buys Tesla, Nvidia probed