The meme stock craze hits Chewy and Petco, Chipotle's split, Janet Yellen on inflation: Markets news roundup
Borrowing against your home could soon get easier
It could soon be easier to borrow against your home after U.S. regulators approved a Freddie Mac pilot program for purchasing second mortgages.
The plan, announced Friday, is meant to help homeowners who secured low-interest mortgages and want to access their home’s equity for a loan.
The Federal Housing Finance Agency (FHFA) said it granted “conditional approval” to the program. Under the pilot, Freddie Mac will have $2.5 billion cap on purchases over 18 months, with maximum loan amounts of $78,277.
Janet Yellen says inflation will return to normal without a recession
Treasury Secretary Janet Yellen thinks the Federal Reserve could hit its 2% inflation target in 2025, with a soft landing well in her sights.
Yellen told Yahoo Finance in an interview published Monday that she does “not see the basis” for a U.S. recession, pointing to the Fed’s caution around cutting interest rates too soon to avoid tipping the economy into the red as “the balancing act that they have.”
Chipotle’s 50-for-1 stock split is the company’s first. Here’s why it matters
Chipotle Mexican Grill is getting closer to its 50-for-1 stock split on Wednesday that will be one of the biggest in history for the New York Stock Exchange (NYSE).
Trump Media stock soars 25% as the company awaits a $70 million infusion
Trump Media & Technology Group stock climbed as much as 25% on Monday afternoon, erasing some of the stock’s recent losses as it prepares to pocket millions of dollars from the exercise of warrants.
GameStop booster ‘Roaring Kitty’ tweeted a picture of a dog — so of course Chewy and Petco stock spiked
Roaring Kitty might be kicking off a new meme stock frenzy, trading video games for pet toys.
Keith Gill, meme stock ringleader better known by his social media persona Roaring Kitty, posted a cartoon photo of a dog on X on Thursday afternoon. Within minutes, shares of pet brands Chewy and Petco spiked.
Donald Trump grew the national debt about twice as much as Joe Biden, study says
Donald Trump is the self-proclaimed “King of Debt.” That extended to the national debt during his time as president — and is poised to continue in a possible second term.
401(k) balances soared last year — but they’re nowhere near what Americans need to retire comfortably
Americans are storing away more than ever for retirement, but they’re fighting an uphill battle as a comfortable retirement seems further and further out of reach.
A pharma stock just spiked 35% on a successful heart drug trial
The successful results of a heart drug’s late-stage clinical trial have prompted Alnylam Pharmaceuticals’ stock to jump 35%.
A bear market could be on the horizon, strategist says
Kevin Gordon, senior investment strategist with Charles Schwab & Co., breaks down how and why the market could turn south in the second half of the year
Nvidia selloff could be good for the stock market, strategist says
Kevin Gordon, senior investment strategist with Charles Schwab & Co., breaks down why money rotating out of big tech to value and cyclicals could be good news