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5 things to know before the Thursday open: Meme stock revival, Trump's Fed visit, Uber's gender feature

5 things to know before the Thursday open: Meme stock revival, Trump's Fed visit, Uber's gender feature

CNBC6 days ago
It's safe to say that meme stocks have made a resurgence. Wednesday's session brought another pair of consumer-friendly names into the fold: Mountable camera maker GoPro surged more than 12%, while donut maker Krispy Kreme's shares ended the volatile session more than 4% higher. These stocks, like other meme-y names that have emerged this week, share a few qualities. They tend to have high short interest and drum up some interest on the Wall Street Bets Reddit page, and most also have built-in name-brand recognition. Stocks trading around all-time highs also helps give these speculative trades oxygen. Of course, the eye-popping intraday moves for these names seem to be more about vibes than business fundamentals. CNBC Pro subscribers have exclusive access to a special screener for what names could be on deck in the meme stock revival.
The action didn't end with Wednesday's closing bell. Investors turned attention to Tesla and Alphabet earnings as the first megacap tech stocks to report this season. Tesla, which has underperformed other Big Tech names this year, missed analyst expectations on both lines. Google-parent Alphabet, on the other hand, beat Wall Street expectations and hiked up its guidance for spending. These reports come during a busy week for earnings. Follow live market moves here.
President Donald Trump will visit the Federal Reserve on Thursday at 4 p.m. ET, according to the White House. This marks the latest escalation of Trump's tensions with central bank chair Jerome Powell, whom the president has chastised for a lack of downward movement on interest rates. Additionally, it will be the first time in nearly two decades that a U.S. president has made an official trip to the central bank, which is known for its political independence. Trump's visit comes ahead of the Fed's policy meeting scheduled for next week, though Fed funds futures are predicting a more than 97% likelihood of the central bank once again holding rates steady, according to CME's FedWatch tool.
Trump trumpeted his trade agreement with Japan on his Truth Social platform, calling it "massive" and "perhaps the largest Deal ever made." Online, Trump said there would be a 15% "reciprocal" tariff and that Japan would invest $550 billion into the U.S. But an analysis from CNBC of a photo posted by the White House's deputy chief of staff shows there were some last-minute edits and discrepancies. For one, the board apparently containing details of the plan showed a figure crossed out with another, larger number added above. The plan for tariffs also appeared more nuanced than what Trump announced. The White House did not comment on the contents of the picture.
Beginning next month, Uber will pilot a program in select U.S. cities that will allow women drivers and riders to opt out of being paired with men. Following the launch, women in Detroit, Los Angeles and San Francisco will have the option to match with same-gender counterparts, and riders can pre-set preferences in the app. It's one of multiple updates that ride-share platforms have rolled out in recent years aimed at increasing safety and security. The feature has been tested in countries such as Argentina, France and Germany.

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