Why the MAGA Chorus Is Piling on Powell
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Stock market today: Dow, S&P 500, Nasdaq futures take a breath after march to latest records
US stock futures tipped higher on Friday after the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) vaulted to their latest records on fresh signs of strength in the US economy. Dow Jones Industrial Average futures (YM=F) rose 0.2%. Futures tied to the S&P 500 (ES=F) were up 0.1%, while those on the tech-focused Nasdaq 100 (NQ=F) also climbed 0.1%. The tech-heavier indexes clinched records on Thursday, part of a record-setting run as Wall Street turned bullish in the second quarter. Investors were buoyed Thursday by a softening on jobless claims and stronger-than-expected retail sales, with little indication that President Trump's tariffs are so far affecting consumer spending habits. Read more: The latest on Trump's tariffs Meanwhile, earnings continue to roll in, and they have shown steady resilience in corporate America. Thursday's highlight was Netflix (NFLX), which kicked off Big Tech earnings with an all-around beat while raising its full-year revenue forecast. Friday's earnings highlights include 3M (MMM), American Express (AXP), and Charles Schwab (SCHW). Read more: Full earnings coverage in our live blog The major indexes are set for weekly wins, with this week's drama involving Trump's fury with Fed Chair Jerome Powell largely on the back burner. Powell sent a letter to Trump's top budget official on Thursday, defending the Fed's headquarters renovation project for which he has come under fire in recent days. But already, the focus is turning to who could replace Powell next year and the additional dual mandate that person will face: keeping Trump happy while attempting to maintain the Fed's independence. Meta continues Apple-targeted AI hiring spree After headhunting a top AI expert at Apple (AAPL) to lead Meta's (META) faltering AI division, the social media giant has followed up by taking two more key players from the artificial intelligence team, both of whom had previously worked under Meta's new head of AI. Bloomberg reports: Read more here. Trending tickers in after-hours trading Netflix (NFLX) Stock in the streamer dipped nearly 2% despite topping analyst expectations for both earnings and revenue in Q2. The streaming leader reported revenue of $11.08 billion, just above the $11.07 billion Wall Street had forecast. Investors may be reacting to the narrower-than-hoped revenue beat and looking ahead to guidance. Norfolk Southern (NSC) Share value in railroad operator Norfolk Southern soared 4.7% in after-hours trading following a report from WSJ that Union Pacific is in preliminary talks to acquire the railroad operator. There's also discussion of a merger in the possible creation of what would be America's largest railroad. Meta continues Apple-targeted AI hiring spree After headhunting a top AI expert at Apple (AAPL) to lead Meta's (META) faltering AI division, the social media giant has followed up by taking two more key players from the artificial intelligence team, both of whom had previously worked under Meta's new head of AI. Bloomberg reports: Read more here. After headhunting a top AI expert at Apple (AAPL) to lead Meta's (META) faltering AI division, the social media giant has followed up by taking two more key players from the artificial intelligence team, both of whom had previously worked under Meta's new head of AI. Bloomberg reports: Read more here. Trending tickers in after-hours trading Netflix (NFLX) Stock in the streamer dipped nearly 2% despite topping analyst expectations for both earnings and revenue in Q2. The streaming leader reported revenue of $11.08 billion, just above the $11.07 billion Wall Street had forecast. Investors may be reacting to the narrower-than-hoped revenue beat and looking ahead to guidance. Norfolk Southern (NSC) Share value in railroad operator Norfolk Southern soared 4.7% in after-hours trading following a report from WSJ that Union Pacific is in preliminary talks to acquire the railroad operator. There's also discussion of a merger in the possible creation of what would be America's largest railroad. Netflix (NFLX) Stock in the streamer dipped nearly 2% despite topping analyst expectations for both earnings and revenue in Q2. The streaming leader reported revenue of $11.08 billion, just above the $11.07 billion Wall Street had forecast. Investors may be reacting to the narrower-than-hoped revenue beat and looking ahead to guidance. Norfolk Southern (NSC) Share value in railroad operator Norfolk Southern soared 4.7% in after-hours trading following a report from WSJ that Union Pacific is in preliminary talks to acquire the railroad operator. There's also discussion of a merger in the possible creation of what would be America's largest railroad.
Yahoo
26 minutes ago
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'Not Gonna Lie': Jelly Roll Reveals The Big Trump Move He Thinks Is 'Awesome'
'Jimmy Kimmel Live' guest host Jelly Roll mostly shied away from politics during the show's opening monologue on Thursday night, but he did praise President Donald Trump for one recent decision. 'It's the UFC fight President Trump's planning on having on the South Lawn on the 4th of next July,' the rapper/country singer said. 'Now, listen, I know this is causing a little bit of controversy. But for me, I think it's awesome. I'm not gonna lie.' Trump said earlier this month that he was going to host a major UFC event on the White House grounds next year on Independence Day, with an audience of up to 25,000 spectators. Critics mocked Trump over the idea, but Jelly Roll said he sees this from another perspective. 'Where I'm from, watching two meth heads beat the piss out of each other on a lawn is just a part of our year,' he said. 'I tell you what, a UFC fight at the White House might not be what our Founding Fathers would have wanted. But our founding stepdads would have loved that shit.' He also offered another idea. 'We should put an octagon at the Pentagon and have a couple of geometry teachers fight it out,' he said. 'Let's settle this once and for all.' See more in his Thursday night monologue:
Yahoo
26 minutes ago
- Yahoo
Husqvarna reworking supply chain to offset tariffs, CEO says
By Jesus Calero (Reuters) -Sweden's Husqvarna is reworking its supply chain to lessen the blow from global trade tensions as the U.S. considers steep hikes in tariffs on European imports, the company's CEO Pavel Hajman told Reuters. Around two-thirds of Husqvarna's U.S. sales are tied to imported products, with roughly half of those coming from Europe and the rest from China and other countries. "We are, of course, worse off because we have two-thirds being imported into the U.S., irrespective of whether it's China or Europe," Hajman said. U.S. tariffs on EU goods currently stand at 10%, but the White House has floated the idea of raising them to as high as 30%. Hajman said such a move would not be good for Husqvarna and urged a constructive dialogue between Washington and Brussels. The group is increasingly concerned that Europe could be pulled deeper into Washington's trade clampdown, putting Husqvarna at risk on both its Asian and European supply routes. To cushion the impact, Husqvarna has started shifting production of certain products out of China into its European factories. It is also rerouting some Canada-bound goods away from U.S. distribution hubs to avoid getting caught in the crossfire from the Washington-Ottawa trade friction. Hajman said the company is working with suppliers on price negotiations to soften the impact of tariff-related cost inflation. The tariffs have come on top of other margin headwinds which the company is facing, including currency swings and rising raw material costs. In response, Husqvarna implemented measures including plant closures and focusing on higher-margin products like watering systems and robotic mowers. Husqvarna's robotic mower sales grew 15% in the quarter even as competition from emerging Chinese rivals intensifies.
