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UBS' Alli McCartney: Here's why the bull market remains intact
Alli McCartney, UBS Private Wealth Management managing director, joins CNBC's 'Squawk on the Street' to discuss market outlooks, why momentum tech stocks may be lagging, and much more.


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Intel in talks with other large investors for equity boost at discount, sources say
Intel is in talks with other large investors to receive an equity infusion at a discounted price, people familiar with the matter told CNBC's David Faber. Intel stock slid more than 6% on Tuesday, after rallying earlier this week on a $2 billion capital injection from SoftBank and reports that the Trump administration is weighing different ways to get involved with the company. Commerce Secretary Howard Lutnick told CNBC on Tuesday that the U.S. government must receive an equity stake in Intel in exchange for CHIPS Act funds. Sources told Faber that the chipmaker is now looking beyond SoftBank for an equity boost. "They need money to build whatever it is that the customers may actually, ultimately want," Faber said on CNBC's "Squawk on the Street." "And having the CHIPS Act money, which is free, so to speak, no strings attached, become equity is not helpful to them because it's dilutive." Intel is attempting a turnaround after suffering from years of declining sales and shrinking market share. The company has struggled to capitalize on the artificial intelligence boom in advanced semiconductors and has spent heavily to stand up a manufacturing business that's yet to secure a significant customer. Intel has also overhauled its leadership, bringing in Lip-Bu Tan to be its CEO in March, after his predecessor, Pat Gelsinger, was ousted in December. Two weeks ago, President Donald Trump called for Tan to resign, saying he was "highly CONFLICTED." The president's tone toward Tan and the company cooled after the CEO visited the White House to discuss his background.
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Trump says Fed governor Cook 'must resign' as pressure campaign on central bank continues
President Trump on Wednesday called on Federal Reserve governor Lisa Cook to resign as the public pressure on the central bank continues to build. "Cook must resign, now!!!" Trump wrote on his social media platform, Truth Social, Wednesday morning. He included a link to a Bloomberg report about a letter sent by Federal Housing Finance Agency head Bill Pulte urging Attorney General Pam Bondi to investigate Cook over a pair of mortgages. Pulte wrote in a letter dated Aug. 15 that Cook "falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute." The president's call for Cook to resign comes as public pressure on the Fed continues amid ongoing changes on the Fed's Board of Governors. Last week, Trump nominated Council of Economic Advisers Chair Stephen Miran to the Fed board to fill a seat left empty by Adriana Kugler, who stepped down from the board on Aug. 8. Should Cook also step down, Trump would have the opportunity to nominate another Fed governor. The search for a replacement for Fed Chair Jerome Powell, whose term leading the central bank ends in May 2026, also continues in the background. Trump said last week that the field of possible replacements for Powell was "down to 3 or 4" candidates." Trump has repeatedly called on Powell to cut rates more aggressively, coining the nickname "Too Late" for the Fed chair. Trump first appointed Powell to the role in 2017; former President Joe Biden renominated Powell as Fed chair in 2021. Powell is also a member of the Fed's Board of Governors, and his term expires in 2028. It isn't clear whether Powell will also vacate that post when his term as Fed chair ends next year. Reporting from CNBC, however, suggested up to 11 names are under consideration for Powell's role, including Jefferies chief market strategist David Zervos, who told CNBC on Wednesday that the Fed has "never been independent." The mounting discussion around Fed independence and political pressure currently being levied at the central bank comes ahead of the annual Jackson Hole Economic Symposium, which is set to feature Powell's key policy speech of the year on Friday morning. Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer. Click here for in-depth analysis of the latest stock market news and events moving stock prices 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