Stock and bond markets and the value of the U.S. dollar will plunge if President Donald Trump fires Federal Reserve Chairman Jerome Powell, Sen. Elizabeth Warren warned Thursday.”I think they crash,” Warren, D-Mass., said on CNBC’s “Squawk Box” when asked what would happen if Trump succeeds in pushing Powell out as head of the U.S. central bank.As the top Democrat on the Senate Banking Committee, Warren has criticized Powell’s decision making in the past. But she argued Thursday that the president’s relentless attacks on the central bank leader risk undermining the independence of the Fed, which is key for U.S.…
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Check out the companies making the biggest moves in premarket trading: PepsiCo — The snack and beverage company rose 3% following its second-quarter beat on both the top and bottom lines. Adjusted earnings came in at $2.12 per share on revenues of $22.73 billion, versus the $2.30 per share on revenue of $22.28 billion, according to LSEG. Starbucks — The coffee chain fell 1.6% on the back of a downgrade at Jefferies to underperform from hold. The firm believes the stock has surpassed reasonable expectations for improving fundamentals. Taiwan Semiconductor Manufacturing — Shares of the chip manufacturer added 3.3% after…
Investors should dump Starbucks , according to Jefferies. The research firm downgraded the coffee chain to underperform from hold. Analyst Andy Barish’s $76 price target also signals downside of 18% from Wednesday’s close. Shares have rallied more than 13% over the past three months, a move which Barish thinks is disconnected from the company’s reality. “We think expectations have once again settled too far ahead of reality: no strong evidence yet (in comps or margins) of meaningful and lasting fundamental improvements to the business, significant investments needed near-and medium-term into people & tech that could weigh on margins/earnings, and some…
Buffer ETFs are continuing to rake in cash from investors, and fund issuers have been rushing to create more variations to capitalize on the boom. The category had its biggest month of inflows ever in March and now has more than $70 billion in assets, according to data from ETF Action compiled by Strategas. Through June, the category was outpacing last year’s flows and on track for another record year, even with a recent slowdown amid the stock market comeback. The basic version of a buffer fund looks like this: a fund gains exposure to a broad index, like the…
A rendering shows a high-speed rail train as it enters a station during an informational open house by the California High-Speed Rail Authority at the Hilton DoubleTree in downtown Fresno, California, on Wednesday, May 1, 2024. Craig Kohlruss | Fresno Bee | Tribune News Service | Getty ImagesTransportation Secretary Sean Duffy has formally terminated $4 billion in federal funding for the California High-Speed Rail Authority, weeks after putting the bullet train project on notice.In a Wednesday termination letter to the CEO of the authority, Federal Railroad Administration Acting Administrator Drew Feeley wrote that the CHSRA “breached the commitments” it made…
Here are five key things investors need to know to start the trading day:1. Mixed messagesPresident Donald Trump on Wednesday denied the he plans to fire Federal Reserve Chair Jerome Powell following reports that he told Republican lawmakers that he would. A senior White House official told CNBC that Trump asked House Republicans in the Oval Office Tuesday evening whether he should fire Powell. After receiving lawmakers’ support, the official said, Trump “indicated he likely will soon.” But the president later said that firing the central bank chief is “highly unlikely, unless he has to leave for fraud.” Stocks dipped…
Omar Marques | Sopa Images | Lightrocket | Getty ImagesDeFi Development, a company vying to be the MicroStrategy of Solana, is expanding internationally through a franchise model.The company plans to partner with others looking to operate their own Solana treasuries with DeFi’s support. In return, DeFi Development will retain an equity stake in each regional vehicle. The initiative will be branded DFDV Treasury Accelerator.”Most crypto treasury vehicles today are following the MicroStrategy model. What excites us about DFDV is that they’re not just copying the playbook. They’re evolving it,” said Cosmo Jiang, general partner at investor Pantera Capital. “By combining…
Digital currency thefts are on the rise.Jakub Porzycki | Nurphoto via Getty ImagesThe value of cryptocurrencies stolen by criminals surged in the first six months of 2025 after a high-profile hack and a wave of physical attacks targeting crypto holders and their relatives.So far this year, $2.17 billion has been stolen from crypto services — already eclipsing the $1.87 billion of funds stolen from platforms in 2024 — and this is expected to reach $4 billion by the end of 2025, according to a report published Thursday by blockchain analysis firm Chainalysis.Overall, the combined value of digital tokens stolen from…
Here are Thursday’s biggest calls on Wall Street: Citi reiterates First Solar as buy Citi said First Solar is well positioned heading into earnings on July 31. “We expect investors to focus on: 1) impact of lower tariffs on guidance, 2) bookings in 2Q vs buyside expectations for ~0.5GW, 3) Asia capacity utilization, 4) potential International de-bookings…” Barclays reiterates Tesla as equal weight Barclays said it’s “confused” ahead of Tesla earnings next week. “The set-up for Tesla into 2Q EPS is confusing – similar to 1Q. However, net net we see potential for the stock to outperform.” Citi upgrades Steven…
The Archer-Daniels-Midland Co. grain facility in Mendota, Illinois.Bloomberg | Bloomberg | Getty ImagesShares of high fructose syrup producer Archer-Daniels-Midland plummeted on Thursday after President Donald Trump announced that he had persuaded Coca-Cola to use real cane sugar in its drinks in the U.S.”I have been speaking to Coca-Cola about using REAL Cane Sugar in Coke in the United States, and they have agreed to do so. I’d like to thank all of those in authority at Coca-Cola,” the president wrote in a Truth Social post published Wednesday.”This will be a very good move by them — You’ll see. It’s just better!”…
