U.S. Vice President JD Vance speaks, during a tour of Nucor Steel Berkeley in Huger, South Carolina, U.S., May 1, 2025. Kevin Lamarque | ReutersPresident Donald Trump and Vice President JD Vance are now double-teaming the Federal Reserve in an effort to get lower interest rates.In a social media post Wednesday morning on X, Vance echoed his boss’s urging that the central bank ease monetary policy, after the latest inflation readings showed that tariffs are yet to exert any substantial upward pressure on inflation.”The president has been saying this for a while, but it’s even more clear: the refusal by…
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Immigration and Customs Enforcement agents detain a man after conducting a raid at the Cedar Run apartment complex in Denver, Colorado, U.S., Feb. 5, 2025. Kevin Mohatt | ReutersA recent memo to immigration judges obtained by NBC News provides fresh insight into how the Trump administration is pulling off a new tactic — dismissing pending immigration cases, then immediately moving to arrest the immigrants — that is part of its bid to quickly increase the number of immigrants it is detaining.In the memo, the Justice Department instructs immigration judges, who report to the executive branch and are not part of the independent judiciary,…
Here are Wednesday’s biggest calls on Wall Street: Baird upgrades Urban Outfitters to outperform from neutral Baird upgraded the stock after an analyst event and said shares of Urban are too attractive to ignore. “With consistent execution, we think URBN is positioned to sustain a durable LDD% [low double digits] EPS-growth algo.” Morgan Stanley initiates TD Synnex as overweight Morgan Stanley said the IT distributor has “solid execution.” “Long-term IT spending strength and an increasingly complex IT ecosystem are secular tailwinds for the world’s largest IT Distributor, TD Synnex.” Piper Sandler reiterates Tesla as overweight Piper said it sees more…
Consumer prices rose less than expected in May as President Donald Trump’s tariffs had yet to show significant impact on inflation, the Bureau of Labor Statistics reported Wednesday.The consumer price index, a broad-based measure of goods and services across the sprawling U.S. economy, increased 0.1% for the month, putting the annual inflation rate at 2.4%. Economists surveyed by Dow Jones had been looking for respective readings of 0.2% and 2.4%.Excluding food and energy, core CPI came in respectively at 0.1% and 2.8%, compared to forecasts for 0.3% and 2.9%. Federal Reserve officials consider core a better measure of long-term trends,…
U.S. President Donald Trump takes questions from the media at the White House in Washington, D.C., U.S., May 7, 2025.Leah Millis | ReutersU.S. President Donald Trump Wednesday said that China will supply rare earths upfront to the U.S. as part of a trade agreement.The relationship between the world’s two largest economies is “excellent,” Trump said in a post on Truth Social, while adding, “WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%.”He added that magnets and “any necessary rare earths” will be supplied up front by China and that the U.S. will in turn make certain concessions…
A second night of rioting and disorder struck the town of Ballymena in Northern Ireland on Tuesday, as anti-immigrant protests spread to several other areas and the police warned of “hate-fueled acts.”Homes, businesses and vehicles were again attacked in the Clonavon Terrace area of Ballymena, where several properties were set on fire on Monday night following a demonstration over the alleged sexual assault of a teenage girl.Police officers came under “sustained attack” with petrol bombs, bricks and fireworks on Tuesday evening, according to a statement from the Police Service of Northern Ireland, and 17 officers were injured.The police used a…
Check out the companies making headlines in premarket trading. GameStop — Shares of the video game retailer slipped 4%. GameStop posted first-quarter revenue of $732.4 million, down from the $881.8 million figure seen in the same period a year prior. Tesla — The electric vehicle maker rose 1.7%, on track for its fourth straight winning day. That comes after shares cratered last week following CEO Elon Musk’s online feud with President Donald Trump. Musk said on Wednesday that he regrets some of the social media posts he made regarding Trump. Quantum computing — Quantum computing stocks advanced after Nvidia CEO…
The outlook is bright for Uber , according to Stifel. The investment bank initiated shares of the ride-hailing platform with a buy rating and a $110 price target, which implies upside of 27% from Tuesday’s close. “We increasingly view Uber as a super app with multiple reasons to utilize the product, which includes getting yourself from point A to point B, ordering dinner from local restaurants, and having groceries delivered to your door (with some ads seen along the way),” analyst Mark Kelley wrote. While some Wall Street analysts have expressed concern over the risk that autonomous vehicles might pose…
A home is seen for sale on April 24, 2025 in Austin, Texas. Brandon Bell | Getty ImagesMortgage interest rates barely moved at all last week, but demand from homebuyers as well as those looking to refinance a current home loan increased.Total mortgage application volume rose 12.5% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. An additional adjustment was made for the Memorial Day holiday. While the weekly move may seem large, the volume is still quite low historically.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $806,500…
DeepL CEO Jaroslaw “Jarek” Kutylowski.DeepLDeepL on Wednesday said it was deploying one of the latest Nvidia systems that would allow the German startup to translate the whole internet in just 18 days.This is sharply down from 194 days previously., DeepL is a startup that has developed its own AI models for and competes with Google Translate.Nvidia is meanwhile looking to expand the customer base for its chips — which are designed to power artificial intelligence applications — beyond hyperscalers such as Microsoft and Amazon.It also highlights how startups are using Nvidia’s high-end products to build AI applications, which are viewed as…
