Stocks end sharply higher
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Builders FirstSource and other home building stocks jump as Federal Reserve Chairman Jerome Powell signals interest-rate cuts could be coming.
Market Catalysts anchor Julie Hyman and Senior Reporter Allie Canal examine some of Friday's trending tickers, including crypto stocks, homebuilder stocks, and the banking index (^BKX). To watch more expert insights and analysis on the latest market action,
The iShares U.S. Home Construction ETF was rallying 5.1% toward an eight-month high in recent trading, with all 46 of its equity components gaining ground. The ETF has now soared 26% amid a three-month winning streak.
Commerce Secretary Howard Lutnick told CNBC the U.S. government wants a stake in Intel in exchange for CHIPS Act grant money promised under Biden.
Chip stocks and AI names tumbled for a second day on Wednesday, as anxiousness rises ahead of Powell's Friday speech.
Chinese equities are surging. The Shanghai Composite Index — dominated by retail investors — is up about 13% this year.
The Cboe Volatility Index (VIX) fell to its lowest level of the year on Friday, as US stocks surged following a highly-anticipated speech from Federal Reserve Chairman Jerome Powell that bolstered the case for a September interest-rate cut.
Here are some of the major companies whose stocks moved on the week’s news.