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After a long and controversial process, the U.S. Senate approved Kevin Warsh as the next chair of the Federal Reserve.
Investors got bad news on the inflation front for the second day in a row.
Qualcomm Tumbles as Inflation Shock Sparks Semiconductor Selloff
FEATURE Intel stock and shares of other semiconductor companies were gaining early Wednesday. The chips rally looked set to resume after a blip the previous day. Intel shares were up 4% in premarket trading, while Advanced Micro Devices was rising 2.
Markets have spent months betting that President Donald Trump’s second-term agenda would extend the rally that pushed the S&P 500 to repeated highs. Tax cuts, deregulation, and aggressive reshoring policies are all catnip for investors. Since Election Day, cyclical sectors like industrials, banks, and small-cap stocks have outpaced the broader market as traders priced in ... The Fed Could Crush Trump’s Bull Market — Here’s the Warning Wall Street Is Missing