On today's podcast:

1) The Trump administration is clearing a path for two key Persian Gulf allies to pursue their artificial intelligence ambitions — and some of the biggest US tech companies are seizing on that opening with plans to spend billions of dollars in the region.

2) The S&P 500 and Nasdaq 100 indexes turned higher for the year on Tuesday, reversing multi-trillion dollar routs, as enthusiasm for US stocks grows with global trade tensions cooling after the Trump administration and China agreed to temporarily lower tariffs.

3) House Republicans could land on a compromise on the state and local tax deduction on Wednesday, a deal that would represent a breakthrough in one of the thorniest policy debates in President Donald Trump’s economic package.

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