Cramer sees jobs data as a win for Fed's Powell over Trump — plus, possible stocks to trim
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indianapolis Star
35 minutes ago
- Indianapolis Star
Are the United States stock markets open on the Fourth of July?
Today is Independence Day, and like most federal holidays, some services will be disrupted and stores may be operating under different hours. Here's what to know about the United States stock markets on July 4. Yes. United States stock markets are closed on Friday, July 4, 2025. According to the New York Stock Exchange and Nasdaq websites, their markets also close early (at 1 p.m.) on Thursday, July 3. The Federal Reserve considers the Fourth of July a bank holiday, meaning most banks will be closed.
Yahoo
38 minutes ago
- Yahoo
Why Arm Holdings Stock Soared 30% in June
Through its CPU architecture licensing, Arm has broad exposure to AI growth. The stock seemed to gain on Apple's WWDC conference. Its valuation could put pressure on the stock from here. 10 stocks we like better than Arm Holdings › Shares of Arm Holdings (NASDAQ: ARM) shot up last month on a broader bullish trend in the semiconductor industry that lifted peers like Nvidia and AMD as concerns around tariffs and a potential recession simmered down, and the risk-on artificial intelligence (AI) trade returned. There was no single news item that drove Arm stock higher, but several events combined to send the stock up 30% by the end of the month, according to data from S&P Global Market Intelligence. As you can see from the chart below, the stock marched steadily higher over the course of the month, easily outperforming the S&P 500. There was relatively little company-specific news out on Arm last month, but the company, which is best known for power-efficient CPU architecture, is a close partner of tech giants like Apple and Nvidia, giving it a broad range of exposure across the tech industry. The company, which licenses its architecture to those partners, is also sensitive to the economic cycle, which can drive demand. So it responded favorably to signs that the U.S. economy remained resilient, according to data, even with new tariffs in place. In fact, one of Arm's best days last month came from Apple's World Wide Developer Conference (WWDC), where Apple announced a number of new features to its iOS software and Apple Intelligence. Apple is a major customer for Arm, and the news was enough to drive Apple stock up 4.1% on the day on its second-highest trading volume day of the month. After Arm stock dipped briefly, it surged over the last full week of June in line with broader market gains as Mideast tension tamped down, and inflation remained modest through May, showing that tariffs had not yet had a meaningful impact on prices. Arm closed out the month receiving a bullish note from Guggenheim, which maintained a buy rating on the stock and raised its price target from $147 to $187. Arm stock has fallen over the first two days of July as the valuation is arguably stretched following last week's gains. The company's competitive advantages are formidable due to its technological edge in power efficiency, but significant growth is already baked into the stock as it trades at a price-to-sales ratio of 41. While the business looks like a good bet to continue growing, investors may want to wait for a more attractive price point before buying the stock. Before you buy stock in Arm Holdings, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Arm Holdings wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $697,627!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $939,655!* Now, it's worth noting Stock Advisor's total average return is 1,045% — a market-crushing outperformance compared to 178% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 30, 2025 Jeremy Bowman has positions in Advanced Micro Devices, Arm Holdings, and Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices, Apple, and Nvidia. The Motley Fool has a disclosure policy. Why Arm Holdings Stock Soared 30% in June was originally published by The Motley Fool
Yahoo
39 minutes ago
- Yahoo
The House gives final approval to Trump's big tax bill in a milestone for his second-term agenda
WASHINGTON (AP) — House Republicans propelled President Donald Trump's big multitrillion-dollar tax breaks and spending cuts bill to final passage Thursday in Congress, overcoming multiple setbacks to approve his signature second-term policy package before a Fourth of July deadline. The tight roll call, 218-214, came at a potentially high political cost, with two Republicans joining all Democrats opposed. GOP leaders worked overnight and the president himself leaned on a handful of skeptics to drop their opposition. Democratic leader Hakeem Jeffries of New York delayed voting for more than eight hours by seizing control of the floor with a record-breaking speech against the bill. Trump celebrated his political victory in Iowa, where he attended the kickoff for a year of events marking the country's upcoming 250th anniversary. 'I want to thank Republican congressmen and women, because what they did is incredible,' he said. The president complained that Democrats voted against the bill because 'they hate Trump — but I hate them too.' Trump said he plans to sign the legislation on Friday at the White House. The outcome delivers a milestone for the president and for his party. It was a long-shot effort to compile a lengthy list of GOP priorities into what they called his 'one big beautiful bill,' at nearly 900 pages. With Democrats unified in opposition, the bill will become a defining measure of Trump's return to the White House, aided by Republican control of Congress. 'You get tired of winning yet?' said House Speaker Mike Johnson, R-La., invoking Trump as he called the vote. 'With one big beautiful bill we are going to make this country stronger, safer and more prosperous than ever before,' he said. Republicans celebrated with a rendition of the Village People's 'Y.M.C.A.,' a song the president often plays at his rallies, during a ceremony afterward. Tax breaks and safety net cuts At its core, the package's priority is $4.5 trillion in tax breaks enacted in 2017 during Trump's first term that would expire if Congress failed to act, along with new ones. This includes allowing workers to deduct tips and overtime pay, and a $6,000 deduction for most older adults earning less than $75,000 a year. There's also a hefty investment, some $350 billion, in national security and Trump's deportation agenda and to help develop the 'Golden Dome' defensive system over the U.S. To help offset the lost tax revenue, the package includes $1.2 trillion in cutbacks to the Medicaid health care and food stamps, largely by imposing new work requirements, including for some parents and older people, and a major rollback of green energy tax credits. The nonpartisan Congressional Budget Office estimates the package will add $3.3 trillion to the deficit over the decade and 11.8 million more people will go without health coverage. 'This was a generational opportunity to deliver the most comprehensive and consequential set of conservative reforms in modern history, and that's exactly what we're doing,' said Rep. Jodey Arrington, R-Texas, the House Budget Committee chairman. Democrats united against the big 'ugly bill' Democrats unified against the bill as a tax giveaway to the rich paid for on the backs of the working class and most vulnerable in society, what they called 'trickle down cruelty.' Jeffries began the speech at 4:53 a.m. EDT and finished at 1:37 p.m. EDT, 8 hours, 44 minutes later, a record, as he argued against what he called Trump's 'big ugly bill.' 'We're better than this,' said Jeffries, who used a leader's prerogative for unlimited debate, and read letter after letter from Americans writing about their reliance of the health care programs. 'I never thought that I'd be on the House floor saying that this is a crime scene,' Jeffries said. 'It's a crime scene, going after the health, and the safety, and the well-being of the American people.' And as Democrats, he said, 'We want no part of it.' Tensions ran high. As fellow Democrats chanted Jeffries' name, a top Republican, Rep. Jason Smith of Missouri, chairman of the House Ways and Means Committee, called his speech 'a bunch of hogwash.' Hauling the package through the Congress has been difficult from the start. Republicans have struggled mightily with the bill nearly every step of the way, quarreling in the House and Senate, and often succeeding only by the narrowest of margins: just one vote. The Senate passed the package days earlier with Vice President JD Vance breaking the tie vote. The slim majority in the House left Republicans little room for defections. 'It wasn't beautiful enough for me to vote for it,' said Rep. Thomas Massie, R-Ky. Also voting no was Rep. Brian Fitzpatrick of Pennsylvania, who said he was concerned about cuts to Medicaid. Once Johnson gaveled the tally, Republicans cheered 'USA!' and flashed Trump-style thumbs-up to the cameras. Political costs of saying no Despite their discomfort with various aspects of the sprawling package, in some ways it became too big to fail — in part because Republicans found it difficult to buck Trump. As Wednesday's stalled floor action dragged overnight, Trump railed against the delays. 'What are the Republicans waiting for???' the president said in a midnight-hour post. Johnson relied heavily on White House Cabinet secretaries, lawyers and others to satisfy skeptical GOP holdouts. Moderate Republicans worried about the severity of cuts while conservatives pressed for steeper reductions. Lawmakers said they were being told the administration could provide executive actions, projects or other provisions in their districts back home. The alternative was clear. Republicans who staked out opposition to the bill, including Massie of Kentucky and Sen. Thom Tillis of North Carolina, were being warned by Trump's well-funded political operation. Tillis soon after announced he would not seek reelection. Rollback of past presidential agendas In many ways, the package is a repudiation of the agendas of the last two Democratic presidents, a chiseling away at the Medicaid expansion from Barack Obama's Affordable Care Act, and a pullback of Joe Biden's climate change strategies in the Inflation Reduction Act. Democrats have described the bill in dire terms, warning that cuts to Medicaid, which some 80 million Americans rely on, would result in lives lost. Food stamps that help feed more than 40 million people would 'rip food from the mouths of hungry children, hungry veterans and hungry seniors,' Jeffries said. Republicans say the tax breaks will prevent a tax hike on households and grow the economy. They maintain they are trying to rightsize the safety net programs for the population they were initially designed to serve, mainly pregnant women, the disabled and children, and root out what they describe as waste, fraud and abuse. The Tax Policy Center, which provides nonpartisan analysis of tax and budget policy, projected the bill would result next year in a $150 tax break for the lowest quintile of Americans, a $1,750 tax cut for the middle quintile and a $10,950 tax cut for the top quintile. That's compared with what they would face if the 2017 tax cuts expired. ___ Associated Press writers Kevin Freking, Joey Cappelletti and Chris Megerian contributed to this report.
