President Donald Trump is denying claims that he intends to harm Elon Musk's companies by removing government subsidies.

"Everyone is stating that I will destroy Elon's companies by taking away some, if not all, of the large-scale subsidies he receives from the U.S. Government. This is not so!" Trump wrote in a post to his conservative social media platform.

Trump expressed his support for Musk and all U.S. businesses, highlighting his administration's achievements.

"I want Elon, and all businesses within our Country, to THRIVE, in fact, THRIVE like never before!" he continued.

Trump previously threatened Musk's government contracts during their public feud in June. White House press secretary Karoline Leavitt on Wednesday was asked if Trump supported federal agencies contracting with Musk's AI company. Leavitt responded, "I don't think so, no" and said she would speak to the president about it.

-ABC News' Kelsey Walsh

President Donald Trump on Thursday is making what could be seen as a hostile visit to the Federal Reserve headquarters, as he increases his pressure on Fed Chair Jerome Powell.

The president has hammered Powell for months on social media and in public comments because Powell has not lowered interest rates. More recently, Trump has threatened to fire Powell over his handling of a massive renovation project at the Fed.

It is incredibly rare for a sitting president to visit the central bank given its historic independence. George W. Bush was the last president to visit in 2006 for then-Fed Chair Ben Bernanke’s swearing-in ceremony. During his remarks that day, Bernanke said only two others had ever visited the building - Gerald Ford in 1975 and Franklin Roosevelt in 1937.

-ABC News' Karen Travers and Justin Gomez

The Ninth Circuit Court of Appeals, in a 2-1 decision, upheld a lower court ruling that President Donald Trump's executive order ending birthright citizenship is very likely unconstitutional on its face and that a nationwide injunction precluding enforcement is the only way to provide complete relief to the state plaintiffs, pending litigation.

The states had brought the suit alleging that they would suffer irreparable harm from a redefinition of citizenship, including reduced population count for purposes of federal funding.

A federal judge in a separate case has already enjoined nationwide enforcement of the order against a certified class of individuals affected by the presidential action -- all newborns in the U.S. to noncitizens.

Practically speaking, the two decisions ensure Trump's redefinition of citizenship will not take effect on July 27 as litigation over the merits of the order continues.

The government is likely to appeal this decision back to the high court.

-ABC News' Devin Dwyer

Former President Barack Obama will headline a fundraiser next month in Martha’s Vineyard hosted by the National Democratic Redistricting Committee, a source confirmed to ABC News.

The group is chaired by former Attorney General Eric Holder, who will also attend the event, alongside Speaker Emerita Nancy Pelosi.

The fundraiser is scheduled for Aug. 19 and comes as Trump controversially encourages Republicans to take up redistricting mid-decade, particularly in Texas -- which has moved Democrats to suggest their states will hit back by redrawing their congressional districts.

This is Obama's second fundraiser since the 2024 presidential election following a recent event in New Jersey.

-ABC News’ Brittany Shepherd