Commerce honcho Lutnick once called Trump ‘buffoon' — but now talks to him every night: report
Lutnick made the derogatory comment about Trump to a friend in 2016, adding that he was backing Democrat Hillary Clinton in the presidential race at the time — before ending up fundraising for Trump and co-chairing his post-2024 presidential transition, said New Yorker magazine author Antonia Hitchens in a new profile.
Now 'Lutnick and President Donald Trump speak on the phone most nights, at around one in the morning, just after Lutnick gets in bed,' Hitchens wrote.
3 President Trump and Commerce Secretary Howard Lutnick regularly speak on the phone late at night, according to a report.
AFP via Getty Images
'They talk about 'real stuff,' like Canadian steel tariffs, Lutnick told me, and also about 'nothing,' which he summarized as 'sporting events, people, who'd you have dinner with, what was this guy like, can you believe what this guy did, what's the TV like, I saw this on TV, what'd you think of what this guy said on TV, what did you think about my press conference, how about this Truth?' the writer said.
3 Lutnick has been a central figure in Trump's ongoing trade war.
Yuri Gripas – Pool via CNP / MEGA
Trump, 79, is well-known for requiring little sleep and for being accessible to journalists and others who have his private cell-phone number. It's unclear whether he or Lutnick, 64, places the late-night calls.
Lutnick, the former CEO of Cantor Fitzgerald, and his wife, Allison, purchased former Fox News anchor Bret Baier's DC home for $25 million and moved to Washington this year, the profile notes. The home is adorned with pricey artworks by Mark Rothko, Willem de Kooning and other famed artists.
'During every outing I took with Lutnick, as spring turned to summer in Washington, he was approached by someone asking if he could intervene on their behalf,' Hitchens writes in the account, which describes the commerce chief's role in Trump's ongoing trade wars and his quest to be the most consequential commerce secretary since Herbert Hoover in the 1920s.
3 Trump is joined by Lutnick and Secretary of Defense Pete Hegseth at a cabinet meeting earlier this month.
AFP via Getty Images
The mag's account also describes Lutnick and Trump as being 'never granted access to the most rarefied Manhattan circles' despite their extensive wealth.
'Sound familiar? It's the same as it is with Trump,' a source close to Lutnick told Hitchens. 'The middle of the country is, like, 'Wow, he is so rich, he has a gold car, he's so successful.' And then at a cocktail party in New York people are, like, 'Psh, who the f–k is this guy?' '
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
4 minutes ago
- Yahoo
Wintrust Financial Second Quarter 2025 Earnings: Beats Expectations
Wintrust Financial (NASDAQ:WTFC) Second Quarter 2025 Results Key Financial Results Revenue: US$648.1m (up 18% from 2Q 2024). Net income: US$188.5m (up 30% from 2Q 2024). Profit margin: 29% (up from 26% in 2Q 2024). The increase in margin was driven by higher revenue. EPS: US$2.82 (up from US$2.35 in 2Q 2024). Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. All figures shown in the chart above are for the trailing 12 month (TTM) period Wintrust Financial Revenues and Earnings Beat Expectations Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 7.0%. Looking ahead, revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Banks industry in the US. Performance of the American Banks industry. The company's shares are up 5.5% from a week ago. Balance Sheet Analysis While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We've done some analysis and you can see our take on Wintrust Financial's balance sheet. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Erreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données
Yahoo
4 minutes ago
- Yahoo
Stock Index Futures Climb as U.S. Reaches Trade Deal With Japan, Tesla and Alphabet Earnings Awaited
September S&P 500 E-Mini futures (ESU25) are up +0.39%, and September Nasdaq 100 E-Mini futures (NQU25) are up +0.19% this morning as sentiment got a boost after the U.S. announced a trade deal with Japan. U.S. President Donald Trump said in a post on Truth Social late Tuesday that the U.S. will impose a 15% tariff on Japanese goods, including autos, which is lower than the 25% rate he had previously threatened in a letter to the Japanese government. The deal will also see Japan invest $550 billion into the U.S. The U.S. also struck a deal with the Philippines, setting a 19% tariff on the nation's exports. In addition, President Trump unveiled further details about a pact with Indonesia. More News from Barchart Nvidia Stock Warning: This NVDA Challenger Just Scored a Major Customer This High-Yield Dividend Stock (8.3%) Has Analysts Saying 'Strong Buy' — Should You? Should You Buy the Post-Earnings Dip in Lockheed Martin Stock? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Investors now gear up for a deluge of corporate earnings reports, with a particular focus on results from 'Magnificent Seven' companies Tesla and Alphabet. In yesterday's trading session, Wall Street's major indexes closed mixed. IQVIA Holdings (IQV) surged over +17% and was the top percentage gainer on the S&P 500 after the company reported stronger-than-expected Q2 results. Also, Paccar (PCAR) climbed more than +6% and was the top percentage gainer on the Nasdaq 100 after the company posted better-than-expected Q2 results. In addition, D.R. Horton (DHI) jumped over +16% after the homebuilder reported upbeat FQ3 results. On the bearish side, Lockheed Martin (LMT) slumped over -10% and was the top percentage loser on the S&P 500 after the defense contractor posted weaker-than-expected Q2 revenue and cut its full-year EPS guidance. Economic data released on Tuesday showed that the U.S. Richmond Fed manufacturing index unexpectedly fell to an 11-month low of -20 in July, weaker than expectations of -2. Second-quarter corporate earnings season is in full swing, with all eyes today on reports from two of this year's laggards among the Magnificent Seven — Tesla (TSLA) and Alphabet (GOOGL). Investors will also monitor earnings reports from other prominent companies such as T-Mobile US (TMUS), International Business Machines (IBM), ServiceNow (NOW), AT&T (T), Thermo Fisher Scientific (TMO), and Chipotle Mexican Grill (CMG). According to Bloomberg Intelligence, companies in the S&P 500 are expected to post an average +3.2% increase in quarterly earnings for Q2 compared to the previous year, slightly above the pre-season forecast of +2.8%. On the economic data front, investors will focus on U.S. Existing Home Sales data, which is set to be released in a couple of hours. Economists, on average, forecast that June Existing Home Sales will stand at 4.00M, compared to 4.03M in May. U.S. Crude Oil Inventories data will be released today as well. Economists expect this figure to be -1.400M, compared to last week's value of -3.859M. U.S. rate futures have priced in a 95.3% chance of no rate change and a 4.7% chance of a 25 basis point rate cut at next week's policy meeting. In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 4.381%, up +1.04%. The Euro Stoxx 50 Index is up +1.55% this morning as the trade pact between the U.S. and Japan boosted investor optimism that a U.S.-EU agreement could follow. Automobile stocks led the gains on Wednesday after the U.S.-Japan trade deal boosted investor sentiment on the sector. Healthcare stocks, which are also in the crosshairs of Trump's tariff offensive, climbed as well, receiving an additional boost from upbeat Lonza earnings. Meanwhile, the prospects of an EU-U.S. trade agreement improved after Trump said on Tuesday that EU representatives were scheduled to arrive for trade negotiations on Wednesday. Investors now await the Eurozone's preliminary consumer confidence data for July, due later in the session. Investor focus is also on the European Central Bank's rate-setting meeting on Thursday, with the central bank widely expected to keep the deposit rate unchanged at 2.00% following seven straight cuts. In corporate news, Temenos AG ( surged over +20% after the banking software company lifted its annual earnings guidance. At the same time, Nokia Oyj ( slid more than -6% after cutting its 2025 comparable operating profit guidance. Asian stock markets today closed in the green. China's Shanghai Composite Index (SHCOMP) closed up +0.01%, and Japan's Nikkei 225 Stock Index (NIK) closed up +3.51%. China's Shanghai Composite Index closed just above the flatline today. The benchmark index initially moved sharply higher on trade optimism after the U.S. scheduled a new round of talks with China next week and reached a deal with Japan, but pared most of its gains by the close as investors opted to take profits following the recent rally. Technology stocks, which are closely tied to China-U.S. relations, outperformed on Wednesday. The gains came after U.S. Treasury Secretary Scott Bessent said on Tuesday he would meet his Chinese counterparts in Stockholm next week for talks aimed at extending a tariff truce, signaling continued stabilization in relations after the U.S. recently relaxed chip restrictions and China resumed rare earths exports. Meanwhile, China's Ministry of Commerce said on Wednesday that Minister Wang Wentao and European Union trade commissioner Maros Sefcovic held a 'candid and in-depth' discussion on economic and trade cooperation, along with other issues both sides are facing. Investors are also looking to the country's July Politburo meeting, where policymakers will deliberate on economic policies for the second half of the year. Market participants expect China to introduce additional measures to reduce excess capacity in certain emerging industries, ramping up the so-called anti-involution campaign. In corporate news, WuXi XDC Cayman surged over +8% after the company provided a strong H1 net profit forecast. Japan's Nikkei 225 Stock Index closed sharply higher and hit a one-year high today as the country struck a long-awaited trade deal with the U.S. Automobile stocks rallied on Wednesday after U.S. President Donald Trump announced a deal to set a lower-than-feared 15% tariff on imports from Japan. Industry and government officials familiar with the agreement said the deal also reduces the tariff on Japanese cars and auto parts to 15% from 25%, with autos making up more than a quarter of the country's exports to the U.S. 'We were the first in the world to achieve tariff reductions on autos and auto parts with no quantity limits,' Tokyo's top trade negotiator Ryosei Akazawa said after the latest round of trade talks in Washington. Meanwhile, Capital Economics' Marcel Thieliant said the U.S.-Japan trade deal suggests the Bank of Japan may resume its tightening cycle this year, as it eliminates a key downside risk to Japan's economy. BOJ Deputy Governor Shinichi Uchida said on Wednesday that the central bank will continue pursuing further interest rate hikes, reinforcing rate-hike expectations sparked by news of the trade deal with the U.S. In other news, Japanese daily Mainichi reported on Wednesday that Prime Minister Shigeru Ishiba plans to announce his resignation by the end of August, following the ruling coalition's defeat in Sunday's parliamentary elections. However, Ishiba has denied the report. The Nikkei Volatility Index, which takes into account the implied volatility of Nikkei 225 options, closed down -0.83% to 22.73. Pre-Market U.S. Stock Movers Cal-Maine Foods (CALM) climbed more than +5% in pre-market trading after the company posted upbeat FQ4 results. Texas Instruments (TXN) plunged over -12% in pre-market trading after the semiconductor company issued disappointing Q3 earnings guidance. Enphase Energy (ENPH) slumped more than -7% in pre-market trading after the maker of solar-power inverters provided a tepid Q3 revenue forecast. You can see more pre-market stock movers here Today's U.S. Earnings Spotlight: Wednesday - July 23rd Alphabet (GOOGL), Tesla (TSLA), T-Mobile US (TMUS), IBM (IBM), ServiceNow (NOW), AT&T (T), Thermo Fisher Scientific (TMO), NextEra Energy (NEE), Boston Scientific (BSX), GE Vernova LLC (GEV), Amphenol (APH), CME Group (CME), Fiserv (FI), Moody's (MCO), O'Reilly Automotive (ORLY), General Dynamics (GD), Chipotle Mexican Grill (CMG), Freeport-McMoran (FCX), CSX (CSX), Hilton Worldwide (HLT), TE Connectivity (TEL), United Rentals (URI), Waste Connections (WCN), Crown Castle (CCI), Otis Worldwide (OTIS), Raymond James Financial (RJF), Las Vegas Sands (LVS), Rollins (ROL), Teledyne Technologies (TDY), Northern Trust (NTRS), NVR (NVR), Lennox (LII), SS&Cs (SSNC), Rogers Communications (RCI), Packaging America (PKG), Reliance Steel&Aluminum (RS), Graco (GGG), Annaly Capital Management (NLY), Renaissancere (RNR), SEI (SEIC), Hasbro (HAS), Mr. Cooper (COOP), Globe Life (GL), Molina Healthcare (MOH), EastGroup Properties (EGP), Popular (BPOP), Churchill Downs (CHDN), Quantumscape (QS), Knight-Swift Trans (KNX), Prosperity Bancshares (PB), Lamb Weston Holdings (LW), Taylor Morrison Home (TMHC), Wyndham Hotels (WH), Cadence Bancorp (CADE), Mattel (MAT), Alaska Air (ALK), Essential Properties (EPRT), First American (FAF), Selective (SIGI), Wex (WEX), Meritage (MTH), Sonoco Products (SON), Robert Half (RHI), United Community Banks (UCB), Goosehead Insurance (GSHD), Travel + Leisure Co (TNL), Plexus (PLXS), Viking Therapeutics Inc (VKTX), M/I Homes (MHO), BankUnited (BKU), Banc of California (BANC), ASGN (ASGN), Empire State Realty (ESRT), Oceaneering International (OII), Century Communities (CCS), Solaris Oilfield (SEI), Oxford Lane (OXLC), Stewart Info Services (STC), Getty (GTY), Netstreit (NTST), Veris Residential (VRE), Kaiser (KALU), Live Oak Bancshares Inc (LOB), MaxLinear (MXL), QCR (QCRH), Origin Bancorp (OBK), PROG Holdings (PRG). On the date of publication, Oleksandr Pylypenko did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 minutes ago
- Yahoo
Wall Street futures lifted by US-Japan trade deal
(Reuters) -U.S. stock index futures jumped on Wednesday after President Donald Trump struck a trade deal with Japan, bolstering expectations of more such agreements as the August 1 deadline approaches. The agreement includes lowering tariffs on Japan's auto sector to 15% from the previous 27.5%, while duties on other Japanese goods will also be slashed to 15% from 25%. At 5:48 a.m. ET, S&P 500 E-minis were up 23.25 points, or 0.37%. Nasdaq 100 E-minis were up 37.25 points, or 0.16%, and Dow E-minis were up 216 points, or 0.48%. The benchmark S&P 500 closed at a record high on Tuesday, marking its eighth record close in nearly a month, boosted by easing trade tensions, signs of a resilient U.S. economy and largely upbeat second-quarter earnings. The blue-chip Dow ended 0.4% higher and was just 1.25% shy of its all-time high. The tech-heavy Nasdaq, however, was dragged lower by losses in Meta Platforms and Microsoft. Investors' attention is on earnings from "Magnificent Seven" group that have helped propel U.S. stocks to all-time highs, with Tesla and Alphabet set to report after the closing bell on Wednesday. Renewed optimism about artificial intelligence, coupled with stretched valuations, has led to elevated earnings expectations for these stocks, leaving little room for disappointment. Shares of Tesla and Alphabet were largely steady in premarket trading. Texas Instruments sank 11.7% after its quarterly profit forecast failed to impress investors, as it pointed to weaker-than-expected demand for its analog chips from some customers and underscored tariff-related uncertainty. The earnings also weighed on its peer analog chipmakers, with Analog Devices, NXP Semiconductors and ON Semiconductor falling between 4.7% and 6.3%. Automaker General Motors became a casualty of the trade war on Tuesday when it said Trump's tariffs took a $1.1 billion hit on its quarterly earnings, sending its shares down more than 8%. Other notable names reporting on Wednesday include Hasbro, Chipotle, and Mattel. In economic data, existing home sales numbers for June is due on the day. Thursday's weekly jobless claims numbers and S&P Global's flash PMI data will be closely assessed to gauge economic health in the wake of tariff uncertainties. Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week. Odds for a September reduction stand at 56.1%, according to the CME FedWatch tool. Sign in to access your portfolio
