S&P 500 closes higher, Nasdaq climbs nearly 2% as chips fuel comeback from Fed sell-off: Live updates
Stocks closed out the holiday-shortened week in positive territory.
Here are the five big takeaways from Kevin Warsh’s first meeting as Fed chairman
The Federal Reserve and Chairman Kevin Warsh on Wednesday followed the script on interest rates closely.
Warsh experiences worst ‘Fed day’ S&P 500 performance for a new chair since 1994
The S&P 500 tumbled more than 1% in Wednesday’s session, with losses steepening during Warsh’ innagural press conference as chair.
Jeffrey Gundlach says Fed’s Warsh is not going to be the ‘easy money’ chairman many hoped for
Gundlach said Warsh’s stance reduces the risk of overly accommodative monetary policy that could reignite inflation and push longer-term borrowing costs higher.
Chairman Warsh abstains from giving rate forecast as several members signal a hike in 2026
The median projection called for the federal funds rate to end 2026 at 3.8%, a quarter percentage point above the current target range.
Stocks making the biggest moves midday: SpaceX, JPMorgan, UniQure, Intel, Figma, Nano Nuclear & more
These are some of the stocks posting the largest moves midday.
UniQure to seek FDA approval for Huntington’s disease gene therapy after previous clash with agency
The announcement comes months after UniQure became embroiled in a public debate with FDA leaders over the clinical trial data supporting its application.
Less than one-third of global workers feel their jobs are safe, ADP survey data shows
Even with global unemployment at historically low levels, workers are not feeling secure.
Allbirds continues AI pivot with name change and CEO hire, sending stock soaring
Allbirds became NewBird AI in April and said it would trade shoes for AI compute infrastructure.
Amazon AI exec predicts first ‘commercially useful’ quantum computers in 5-7 years
Quantum computing is becoming an increasingly competitive field, with tech giants including Microsoft, Google and IBM developing the technology.
