Here are some of the stocks posting the biggest moves in midday trading Friday. Mohawk Industries , Builders FirstSource – Home construction plays jumped after Federal Reserve Chair Jerome Powell hinted that rate cuts could be around the corner, sparking hopes for lower borrowing costs. Builders FirstSource jumped 8%, while flooring company Mohawk Industries added 7%. Homebuilder Lennar and the iShares U.S. Home Construction ETF (ITB) both added more than 5%. Semiconductor stocks — Names in the sector jumped alongside the broader market on indication that the Fed could start lowering interest rates next month. The VanEck Semiconductor (SMH) climbed…
Author: usaeverydaylife
U.S. equity markets surged higher as the wishy-washy expectations of future Federal Reserve policy were galvanized into an imminent rate cut in September. Chairman Jerome Powell telegraphed resuming the Fed’s interest rate cutting campaign from pre-election meetings last Fall (a 50 basis points cut could find some legs too). I want to utilize the SPDR S & P 500 ETF Trust (SPY) to capture the potential for more additional new highs in the S & P 500. The Fed’s annual gathering of global central bankers and economists kicked off last night in Jackson Hole, Wyoming. However, investors were in a…
Michael Faulkender, deputy US treasury secretary, during a Bloomberg Television interview outside the White House in Washington, DC, US, on Friday, April 11, 2025. Stefani Reynolds | Bloomberg | Getty ImagesU.S. Deputy Treasury Secretary Michael Faulkender is leaving the Trump administration less than five months after being confirmed by the Senate, the Treasury Department said.Faulkender is the second Senate-confirmed official to leave the Treasury Department this month, following the departure of IRS Commissioner Billy Long, who said he was being tapped as ambassador to Iceland.U.S. Treasury Secretary Scott Bessent thanked Faulkender for his work at the department but gave no…
Kimbal Musk, the younger brother of the world’s wealthiest person, said Elon Musk “deserves to be paid,” as Tesla remains locked in a legal saga over its CEO’s pay package.”I think my brother deserves to be paid,” Kimbal Musk said on CNBC’s “Squawk Box” on Friday. “He has zero pay for the past six to eight years. I don’t think that’s right. I’ll let Tesla shareholders make that decision, but I believe that it does need to be. He needs to be paid.”Elon Musk isn’t paid a salary or any cash bonuses at Tesla. He is compensated through “performance awards”…
Federal Reserve Chair Jerome Powell on Friday gave a tepid indication of possible interest rate cuts ahead as he noted a high level of uncertainty that is making the job difficult for monetary policymakers.In his much-anticipated speech at the Fed’s annual conclave in Jackson Hole, Wyoming, the central bank leader in prepared remarks cited “sweeping changes” in tax, trade and immigration policies. The result is that “the balance of risks appear to be shifting” between the Fed’s twin goals of full employment and stable prices.Watch Powell deliver his remarks liveWhile he noted that the labor market remains in good shape…
The future looks bright for First Solar , according to Guggenheim. The investment bank reiterated its buy rating on the solar technology stock in a research report Friday, and hiked its price target by 42%, to $287 from $202. Shares of First Solar have climbed 9% this year, through Thursday. This revised target price is more than 49% above where the stock last closed. FSLR YTD mountain FSLR YTD chart Guggenheim analyst Joseph Osha pointed to First Solar’s continued operations in Southeast Asia as a catalyst for the price target increase. “Most of the changes to our estimates are driven…
The recent action in tech stocks has many on the Street walking on eggshells. Source link
Lisa Cook, governor of the US Federal Reserve, speaks at the Peterson Institute For International Economics in Washington, DC, US, on Thursday, Oct. 6, 2022. Ting Shen | Bloomberg | Getty ImagesPresident Donald Trump said Friday he will fire Federal Reserve Governor Lisa Cook if she does not resign from her position.”What she did was bad,” the president told reporters who asked about Cook, an appointee of former President Joe Biden who has come under fire from the Trump administration over allegations about her mortgages.”So I’ll fire her if she doesn’t resign,” he said during an impromptu visit to The…
A “Now Hiring” sign hangs in the window of a hair salon in the Greater Boston town of Medford, Massachusetts, August 12, 2025.Brian Snyder | ReutersWage growth is doing something odd these days.Typically, wages grow at a faster clip each year for workers who switch jobs, compared to those who stay in their current role.That makes sense: Workers generally leave a job when they find something better for them, which often includes a higher salary, according to labor economists.But in 2025, the roles have reversed as workers, faced with a souring job market, shift from job-hopping to “job hugging” —…
[The stream is slated to start at 10 a.m. ET. CNBC Television will start the stream when the event begins. Please refresh the page if you do not see a player above.]Federal Reserve Chair Jerome Powell delivers his annual address Friday morning at the central bank’s annual symposium in Jackson Hole, Wyoming.With the speech expected to review the economic situation and the Fed’s five-year framework outlook, markets also are looking to Powell to provide strong hints about a September interest rate cut.For their part, the chair and other officials have been cautious about easing monetary policy with the impact of…
