Stock market today: Dow, S&P 500, Nasdaq stall as Fed holds rates steady, forecasts 2 cuts in 2025

Yahoo

6 hours ago

US stocks were mixed on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as the Federal Reserve held interest rates steady while officials diverged over the ultimate path of interest rates this year.
The Dow Jones Industrial Average (^DJI) fell 0.1% while the S&P 500 (^GSPC) slipped just below the flat line. Meanwhile, the Nasdaq Composite (^IXIC) rose about 0.1%. All three major averages had been up around 0.6% on the day earlier in the trading session.
The central bank held rates steady for the fourth meeting in a row. It also released its latest Summary of Economic Projections (SEP), including its "dot plot," which maps out policymakers' expectations for where interest rates could be headed in the future.
The median official's forecast for the federal funds rate at the end of 2025 was 3.9%, which would likely represent two 25-basis-point cuts this year. However, officials were more divided on that path, with a handful forecasting no change to rates.
Fed Chair Jerome Powell said the right move for the central bank at this juncture was to hold steady to study the near-term path of inflation.
"What we are waiting for to reduce rates is to understand what will happen with the tariff inflation. There is a lot of uncertainty about that," Powell said, adding, 'Ultimately, the cost of the tariffs has to be paid."
Read more: The latest on Trump's tariffs
Markets are also on alert for any sign that the US has joined the Middle East conflict, which has swung stocks around since it broke out last week. President Trump demurred Wednesday when asked if he's moving closer to bombing Iran. "I may do it. I may not do it. I mean, nobody knows what I'm going to do," he said.
Iran has warned it will respond firmly if the US crosses a red line into involvement and has reportedly readied missiles for strikes on US bases in the region if it does.
Oil prices nudged higher. Brent futures (BZ=F), the international benchmark, were roughly flat above $76 a barrel while West Texas Intermediate (CL=F) crude traded just below $75.
US stock and bond markets will be closed on Thursday, June 19, for Juneteenth National Independence Day. The stock market will reopen Friday at 9:30 a.m. ET.
Following Juneteenth, the remaining holidays in 2025 observed by the New York Stock Exchange and Nasdaq are:
Read more here about the 10 stock market holidays in 2025.
US stocks were mixed on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as the Federal Reserve held interest rates steady while officials diverged over the ultimate path of interest rates this year.
The Dow Jones Industrial Average (^DJI) fell 0.1% while the S&P 500 (^GSPC) slipped just below the flat line. Meanwhile, the Nasdaq Composite (^IXIC) rose about 0.1%. All three major averages had been up around 0.6% on the day earlier in the trading session.
The central bank held rates steady for the fourth meeting in a row. It also released its latest Summary of Economic Projections (SEP), including its "dot plot," which maps out policymakers' expectations for where interest rates could be headed in the future. The median official's forecast for the federal funds rate at the end of 2025 was 3.9%, unchanged from March.
On June 4, The Wall Street Journal reported that a hiring freeze at the Bureau of Labor Statistics would force the federal agency to survey fewer businesses for its reports, such as the Consumer Price Index (CPI).
When asked about these cutbacks on Wednesday, Powell said the cutback on survey size will "lead to more volatility in the surveys."
To be clear, Powell said, "the data we get right now, we can do our jobs. I'm not concerned that we can't do our jobs."
But the Fed chair did spend some time stressing the importance of accurate data.
"Having really good data on the state of the economy at any given time is a huge public good," Powell said. "It helps. It doesn't just help the fed, it helps the government. It helps Congress. It helps the executive branch. More importantly, really, it helps businesses. They need to know what's going on in the economy."
There was a clear divide in the June 2025 summary of economic projections.
Seven officials see the Fed's benchmark interest rate not changing at all this year while eight officials see the central bank lowering the rate by a total of 50 basis points.
When asked about the divergence, Fed Chair Jerome Powell said, "If you have a higher inflation forecast, you're going to be less likely to be writing down more cuts."
"People can look at the same data and they can evaluate the risks differently, as you know," Powell said. "And that includes the risk of higher inflation, the risk that will be more persistent, the risk that the labor market will weaken. People are going to have different assessments of that risk."
But Powell continued, adding that with elevated uncertainty about the economic outlook, "no one holds these rate paths [in the Fed's projections] with a lot of conviction."
"As the data come in, you should see those differences diminish," Powell said.
Federal Reserve Chair Jerome Powell acknowledged Wednesday that the housing market remains a weak spot in the broader economy — one the Fed is watching closely, but can do little to directly fix.
"The housing market is a longer-run problem," Powell said, pointing to a mix of persistent supply shortages and still-elevated mortgage rates. It's both a short-term strain and a longer-term structural issue, he noted, and not something that can be resolved through monetary policy alone.
"I think the best thing we can do for the housing market is to restore price stability in a sustainable way and create a strong labor market," Powell added.
His comments come just hours after fresh data showed a sharp pullback in home construction. Housing starts and building permits for May both came in below expectations, with just 1.26 million new homes started, the lowest monthly total since the height of the pandemic.
During his press conference on Wednesday, Federal Reserve Chair Jerome Powell highlighted a theme playing out in markets over the past two months: The economic outlook looks better than it did in early April, but not necessarily better than it was prior to the tariff whipsaw.
"Estimates of where the tariffs will be have actually moved back down, although still at an elevated level," Powell said.
As Powell pointed out, the peak estimated effective tariff rate, as estimated by JPMorgan below, has been falling since early April. But the 14.4% estimated effective tariff rate remains well above the 2.5% seen entering this year and above the 10.3% seen before President Trump's "Liberation Day" tariff announcements in April.
The Federal Reserve's latest "dot plot" outlining future interest rate moves suggests the central bank will still cut rates twice this year, unchanged from its March outlook, though June's forecasts shows a more divided Fed weighing its next move on interest rates.
The Fed announced Wednesday that it held its benchmark interest rate in a range of 4.25%-4.5%, as expected. This marked the fourth straight meeting the Fed kept rates unchanged since cutting rates by 0.25% back in December.
Along with its policy announcement, the Fed released updated economic forecasts in its Summary of Economic Projections (SEP), including its "dot plot," which maps out policymakers' expectations for where interest rates could be headed in the future.
The central bank raised its projections for inflation and unemployment at the end of this year while lowering its forecast for economic growth.
Fed officials see the fed funds rate falling to 3.9% this year, on par with its previous March projection. Coming into the decision, markets had priced in one to two additional rate cuts this year, according to Bloomberg data. The central bank slashed interest rates by a total of 100 basis points in 2024. It is yet to deliver rate cuts so far this year.
In 2026, officials see one additional cut; in March, the Fed expected to cut rates twice next year.
Twelve officials predict a rate cut this year, with two officials seeing a decrease of more than 0.5%.
Most notable in Wednesday's dot plot were forecasts that showed seven FOMC members see no change in rates this year, signaling a more hawkish stance compared to March when four officials saw no change. Two FOMC members expect only one interest rate cut this year.
Read more here.
The Federal Reserve held interest rates steady in a range of 4.25% to 4.5%.
The central bank also released its latest Summary of Economic Projections (SEP), including its "dot plot," which maps out policymakers' expectations for where interest rates could be headed in the future.
The median official's forecast for the federal funds rate at the end of 2025 was 3.9%, which would likely represent two 25 basis points cuts this year. As part of the Fed's SEP, officials marked up their projections for core inflation and lowered their forecast for economic growth in 2025. The Fed now also sees the "core" PCE inflation hitting 3.1% in 2025 up from a prior forecast of 2.8%.
Less than 30 minutes before the Federal Reserve is set to release its next policy update, the Dow Jones Industrial Average (^DJI) rose 0.1% and S&P 500 (^GSPC) added less than 0.1%. Meanwhile, the Nasdaq Composite (^IXIC) added about 0.2%. All three major averages had been up about 0.6% at one point in the trading day.
The 10-year Treasury yield (^TNX) was down about three basis points to hover near 4.36%.
As we often note, most of the stock swings on Fed days typically comes after Federal Reserve chair Jerome Powell's press conference starts at 2:30 p.m. ET.
But specifically the last hour of trading has been where the market action is as of late. Research from Bespoke Investment Group shows that since all Fed meetings since 1994 the S&P 500 (^GSPC) has dropped an average of six basis points in the final hour of trading. But across the past 10 meetings, those losses have worsened with the S&P 500 falling more than 41 basis points on average.
This included eight straight meetings that saw the S&P 500 fall in the final hour trading leading into the March meeting when the S&P 500 rose 10 basis points in the final hour of trading.
Yahoo Finance's Claire Boston reports:
Mortgage rates drifted slightly lower but remained above 6.8% for another week as the Treasury yields they closely track oscillated.
The average 30-year mortgage rate was 6.81% for the week through Tuesday, down from 6.84% a week earlier, according to Freddie Mac data. The average 15-year mortgage rate was essentially unchanged at 5.96%, from 5.97%. This week's data collection period was a day shorter than normal to account for Thursday's Juneteenth holiday.
This week's rate is the lowest in four weeks, but mortgage rates haven't been able to break out of a narrow range between 6.8% and 7% since April.
This week, the 10-year Treasury yield, which closely tracks mortgage rates, whipsawed and, ultimately, dropped slightly in response to the Israel-Iran conflict and a contraction in retail sales in May as consumers remain jittery about tariffs and their financial positions.
Read more here.
Yahoo Finance's Jennifer Schonberger reports:
The Federal Reserve is widely expected to hold rates steady at the conclusion of its policy meeting Wednesday, but the big question is whether Chairman Jerome Powell and his colleagues will stay committed to two rate cuts in 2025.
The answer will come in the form of the "dot plot," a chart updated quarterly that shows each Fed official's prediction about the direction of the central bank's benchmark interest rate.
The last dot plot, released in March, revealed a consensus among Fed officials for two cuts this year as some were already factoring the uncertainties of President Trump's economic policies into their projections. They made the same prediction last December.
Many Fed watchers expect central bank officials to stick with what they have already signaled as they weigh numerous unknowns, including the ultimate outcome of trade policies and the ripple effects triggered by a new conflict between Israel and Iran.
"I think they'll end up keeping two cuts, but will stick with narrative that they need more time to see effects of tariffs on inflation," Wilmington Trust senior bond fund manager Wilmer Stith said.
Read more here.
Circle (CRCL) stock rose 15% on Wednesday as the US Senate passed a bill to regulate the sector.
The stablecoin issuer has now seen its shares soar more than 460% since its IPO in early June.
Marvell Technology (MRVL) stock rose roughly 8% on Wednesday as investors digested the company's AI event.
"We continue to like MRVL as the rising tide of AI capex can help drive potential upside for one of the few franchises with a singular data-center focus, and with breadth of leading IP across compute, XPU, networking, electro-optics, security, and memory/storage," Bank of America analyst Vivek Arya analyst wrote in a note to clients on Wednesday while boosting his price target to $90 from $80.
Housing activity remains in the doldrums.
Privately owned housing starts declined 9.8% in May to hit 1.256 million, the lowest level in five years, according to data from the Census Bureau on Thursday.
"Housing starts are running below the level of housing completions," Renaissance Macro head of economics Neil Dutta wrote in a note to clients on Wednesday. "This means that units under construction will continue to decline."
Citi economist Veronica Clark pointed out in a note to clients that the weak housing starts data could also be a bad sign for future employment in the sector.
"As construction declines, we continue to see downside risks to employment in this sector," Clark wrote.
US stocks wavered on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as they braced for the Federal Reserve's interest rate decision later in the day.
The Dow Jones Industrial Average (^DJI), S&P 500 (^GSPC), and Nasdaq Composite (^IXIC) were all within less than 0.1% of the flat line at the open.
Weekly claims for unemployment benefits remained near their highest level in eight months during the second full week of June, while the number of Americans filing for unemployment insurance on an ongoing basis also remained near the highest level since November 2021.
Data from the Department of Labor released Thursday morning showed 245,000 initial jobless claims were filed in the week ending June 14, down from 250,000 seen the week prior and in line with economists' expectations.
Meanwhile, 1.945 million continuing claims were filed. This marked a slight move down from 1.951 million the week prior, which had been the highest level since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs.
Shares of the largest US stablecoin issuer, Circle (CRCL), popped 3% after the Senate passed new legislation that would establish a framework for dollar-backed cryptocurrencies known as stablecoins.
The GENIUS Act still needs to move through the House and President Trump before it's signed into law, but the bill's passage in the Senate was heralded as a win for the crypto industry, which has been pushing for clearer and more positive regulation.
'I feel really good about [this bill],' Dante Disparte, chief strategy officer and head of global policy and operations at Circle, told Yahoo Finance's David Hollerith and Jennifer Schonberger.
Circle stock debuted on the public markets on June 5 in an explosive IPO. Since its debut, Circle stock is up more than 380%.
Read more here.
Toymaker Hasbro (HAS) announced Tuesday it cut 3% of its global workforce, or about 150 employees, as part of a larger cost-cutting effort. The stock fell 3% in premarket trade on Wednesday.
The Monopoly maker has been navigating President Trump's tariffs and trade war, especially with China, where it sources about half of its toys and games. The company is working to diversify its supply chain. and reduce its exposure to China.
"Ultimately, tariffs translate into higher consumer prices, potential job losses as we adjust to absorb increased costs, and reduced profits for our shareholders," Hasbro's CEO Chris Cocks said during an earnings call in April, per Reuters.
Read more here.
Here are some top stocks trending on Yahoo Finance in premarket trading:
AMD (AMD) stock rose over 1% in premarket trading on Wednesday, following the news it plans to partner with Microsoft to develop custom chips to power the next range of Xbox systems.
Tesla (TSLA) stock was up before the bell today. A Bloomberg report on Wednesday said that Elon Musk's artificial intelligence startup xAI was burning through $1B a month as costs of building its AI models increased.
Micron (MU) shares rose 1% today in premarket trading, following Wells Fargo analysts maintaining a Buy rating for the tech stock and a price target of $130.00.
US stock and bond markets will be closed on Thursday, June 19, for Juneteenth National Independence Day. The stock market will reopen Friday at 9:30 a.m. ET.
Following Juneteenth, the remaining holidays in 2025 observed by the New York Stock Exchange and Nasdaq are:
Read more here about the 10 stock market holidays in 2025.
US stocks were mixed on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as the Federal Reserve held interest rates steady while officials diverged over the ultimate path of interest rates this year.
The Dow Jones Industrial Average (^DJI) fell 0.1% while the S&P 500 (^GSPC) slipped just below the flat line. Meanwhile, the Nasdaq Composite (^IXIC) rose about 0.1%. All three major averages had been up around 0.6% on the day earlier in the trading session.
The central bank held rates steady for the fourth meeting in a row. It also released its latest Summary of Economic Projections (SEP), including its "dot plot," which maps out policymakers' expectations for where interest rates could be headed in the future. The median official's forecast for the federal funds rate at the end of 2025 was 3.9%, unchanged from March.
On June 4, The Wall Street Journal reported that a hiring freeze at the Bureau of Labor Statistics would force the federal agency to survey fewer businesses for its reports, such as the Consumer Price Index (CPI).
When asked about these cutbacks on Wednesday, Powell said the cutback on survey size will "lead to more volatility in the surveys."
To be clear, Powell said, "the data we get right now, we can do our jobs. I'm not concerned that we can't do our jobs."
But the Fed chair did spend some time stressing the importance of accurate data.
"Having really good data on the state of the economy at any given time is a huge public good," Powell said. "It helps. It doesn't just help the fed, it helps the government. It helps Congress. It helps the executive branch. More importantly, really, it helps businesses. They need to know what's going on in the economy."
There was a clear divide in the June 2025 summary of economic projections.
Seven officials see the Fed's benchmark interest rate not changing at all this year while eight officials see the central bank lowering the rate by a total of 50 basis points.
When asked about the divergence, Fed Chair Jerome Powell said, "If you have a higher inflation forecast, you're going to be less likely to be writing down more cuts."
"People can look at the same data and they can evaluate the risks differently, as you know," Powell said. "And that includes the risk of higher inflation, the risk that will be more persistent, the risk that the labor market will weaken. People are going to have different assessments of that risk."
But Powell continued, adding that with elevated uncertainty about the economic outlook, "no one holds these rate paths [in the Fed's projections] with a lot of conviction."
"As the data come in, you should see those differences diminish," Powell said.
Federal Reserve Chair Jerome Powell acknowledged Wednesday that the housing market remains a weak spot in the broader economy — one the Fed is watching closely, but can do little to directly fix.
"The housing market is a longer-run problem," Powell said, pointing to a mix of persistent supply shortages and still-elevated mortgage rates. It's both a short-term strain and a longer-term structural issue, he noted, and not something that can be resolved through monetary policy alone.
"I think the best thing we can do for the housing market is to restore price stability in a sustainable way and create a strong labor market," Powell added.
His comments come just hours after fresh data showed a sharp pullback in home construction. Housing starts and building permits for May both came in below expectations, with just 1.26 million new homes started, the lowest monthly total since the height of the pandemic.
During his press conference on Wednesday, Federal Reserve Chair Jerome Powell highlighted a theme playing out in markets over the past two months: The economic outlook looks better than it did in early April, but not necessarily better than it was prior to the tariff whipsaw.
"Estimates of where the tariffs will be have actually moved back down, although still at an elevated level," Powell said.
As Powell pointed out, the peak estimated effective tariff rate, as estimated by JPMorgan below, has been falling since early April. But the 14.4% estimated effective tariff rate remains well above the 2.5% seen entering this year and above the 10.3% seen before President Trump's "Liberation Day" tariff announcements in April.
The Federal Reserve's latest "dot plot" outlining future interest rate moves suggests the central bank will still cut rates twice this year, unchanged from its March outlook, though June's forecasts shows a more divided Fed weighing its next move on interest rates.
The Fed announced Wednesday that it held its benchmark interest rate in a range of 4.25%-4.5%, as expected. This marked the fourth straight meeting the Fed kept rates unchanged since cutting rates by 0.25% back in December.
Along with its policy announcement, the Fed released updated economic forecasts in its Summary of Economic Projections (SEP), including its "dot plot," which maps out policymakers' expectations for where interest rates could be headed in the future.
The central bank raised its projections for inflation and unemployment at the end of this year while lowering its forecast for economic growth.
Fed officials see the fed funds rate falling to 3.9% this year, on par with its previous March projection. Coming into the decision, markets had priced in one to two additional rate cuts this year, according to Bloomberg data. The central bank slashed interest rates by a total of 100 basis points in 2024. It is yet to deliver rate cuts so far this year.
In 2026, officials see one additional cut; in March, the Fed expected to cut rates twice next year.
Twelve officials predict a rate cut this year, with two officials seeing a decrease of more than 0.5%.
Most notable in Wednesday's dot plot were forecasts that showed seven FOMC members see no change in rates this year, signaling a more hawkish stance compared to March when four officials saw no change. Two FOMC members expect only one interest rate cut this year.
Read more here.
The Federal Reserve held interest rates steady in a range of 4.25% to 4.5%.
The central bank also released its latest Summary of Economic Projections (SEP), including its "dot plot," which maps out policymakers' expectations for where interest rates could be headed in the future.
The median official's forecast for the federal funds rate at the end of 2025 was 3.9%, which would likely represent two 25 basis points cuts this year. As part of the Fed's SEP, officials marked up their projections for core inflation and lowered their forecast for economic growth in 2025. The Fed now also sees the "core" PCE inflation hitting 3.1% in 2025 up from a prior forecast of 2.8%.
Less than 30 minutes before the Federal Reserve is set to release its next policy update, the Dow Jones Industrial Average (^DJI) rose 0.1% and S&P 500 (^GSPC) added less than 0.1%. Meanwhile, the Nasdaq Composite (^IXIC) added about 0.2%. All three major averages had been up about 0.6% at one point in the trading day.
The 10-year Treasury yield (^TNX) was down about three basis points to hover near 4.36%.
As we often note, most of the stock swings on Fed days typically comes after Federal Reserve chair Jerome Powell's press conference starts at 2:30 p.m. ET.
But specifically the last hour of trading has been where the market action is as of late. Research from Bespoke Investment Group shows that since all Fed meetings since 1994 the S&P 500 (^GSPC) has dropped an average of six basis points in the final hour of trading. But across the past 10 meetings, those losses have worsened with the S&P 500 falling more than 41 basis points on average.
This included eight straight meetings that saw the S&P 500 fall in the final hour trading leading into the March meeting when the S&P 500 rose 10 basis points in the final hour of trading.
Yahoo Finance's Claire Boston reports:
Mortgage rates drifted slightly lower but remained above 6.8% for another week as the Treasury yields they closely track oscillated.
The average 30-year mortgage rate was 6.81% for the week through Tuesday, down from 6.84% a week earlier, according to Freddie Mac data. The average 15-year mortgage rate was essentially unchanged at 5.96%, from 5.97%. This week's data collection period was a day shorter than normal to account for Thursday's Juneteenth holiday.
This week's rate is the lowest in four weeks, but mortgage rates haven't been able to break out of a narrow range between 6.8% and 7% since April.
This week, the 10-year Treasury yield, which closely tracks mortgage rates, whipsawed and, ultimately, dropped slightly in response to the Israel-Iran conflict and a contraction in retail sales in May as consumers remain jittery about tariffs and their financial positions.
Read more here.
Yahoo Finance's Jennifer Schonberger reports:
The Federal Reserve is widely expected to hold rates steady at the conclusion of its policy meeting Wednesday, but the big question is whether Chairman Jerome Powell and his colleagues will stay committed to two rate cuts in 2025.
The answer will come in the form of the "dot plot," a chart updated quarterly that shows each Fed official's prediction about the direction of the central bank's benchmark interest rate.
The last dot plot, released in March, revealed a consensus among Fed officials for two cuts this year as some were already factoring the uncertainties of President Trump's economic policies into their projections. They made the same prediction last December.
Many Fed watchers expect central bank officials to stick with what they have already signaled as they weigh numerous unknowns, including the ultimate outcome of trade policies and the ripple effects triggered by a new conflict between Israel and Iran.
"I think they'll end up keeping two cuts, but will stick with narrative that they need more time to see effects of tariffs on inflation," Wilmington Trust senior bond fund manager Wilmer Stith said.
Read more here.
Circle (CRCL) stock rose 15% on Wednesday as the US Senate passed a bill to regulate the sector.
The stablecoin issuer has now seen its shares soar more than 460% since its IPO in early June.
Marvell Technology (MRVL) stock rose roughly 8% on Wednesday as investors digested the company's AI event.
"We continue to like MRVL as the rising tide of AI capex can help drive potential upside for one of the few franchises with a singular data-center focus, and with breadth of leading IP across compute, XPU, networking, electro-optics, security, and memory/storage," Bank of America analyst Vivek Arya analyst wrote in a note to clients on Wednesday while boosting his price target to $90 from $80.
Housing activity remains in the doldrums.
Privately owned housing starts declined 9.8% in May to hit 1.256 million, the lowest level in five years, according to data from the Census Bureau on Thursday.
"Housing starts are running below the level of housing completions," Renaissance Macro head of economics Neil Dutta wrote in a note to clients on Wednesday. "This means that units under construction will continue to decline."
Citi economist Veronica Clark pointed out in a note to clients that the weak housing starts data could also be a bad sign for future employment in the sector.
"As construction declines, we continue to see downside risks to employment in this sector," Clark wrote.
US stocks wavered on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as they braced for the Federal Reserve's interest rate decision later in the day.
The Dow Jones Industrial Average (^DJI), S&P 500 (^GSPC), and Nasdaq Composite (^IXIC) were all within less than 0.1% of the flat line at the open.
Weekly claims for unemployment benefits remained near their highest level in eight months during the second full week of June, while the number of Americans filing for unemployment insurance on an ongoing basis also remained near the highest level since November 2021.
Data from the Department of Labor released Thursday morning showed 245,000 initial jobless claims were filed in the week ending June 14, down from 250,000 seen the week prior and in line with economists' expectations.
Meanwhile, 1.945 million continuing claims were filed. This marked a slight move down from 1.951 million the week prior, which had been the highest level since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs.
Shares of the largest US stablecoin issuer, Circle (CRCL), popped 3% after the Senate passed new legislation that would establish a framework for dollar-backed cryptocurrencies known as stablecoins.
The GENIUS Act still needs to move through the House and President Trump before it's signed into law, but the bill's passage in the Senate was heralded as a win for the crypto industry, which has been pushing for clearer and more positive regulation.
'I feel really good about [this bill],' Dante Disparte, chief strategy officer and head of global policy and operations at Circle, told Yahoo Finance's David Hollerith and Jennifer Schonberger.
Circle stock debuted on the public markets on June 5 in an explosive IPO. Since its debut, Circle stock is up more than 380%.
Read more here.
Toymaker Hasbro (HAS) announced Tuesday it cut 3% of its global workforce, or about 150 employees, as part of a larger cost-cutting effort. The stock fell 3% in premarket trade on Wednesday.
The Monopoly maker has been navigating President Trump's tariffs and trade war, especially with China, where it sources about half of its toys and games. The company is working to diversify its supply chain. and reduce its exposure to China.
"Ultimately, tariffs translate into higher consumer prices, potential job losses as we adjust to absorb increased costs, and reduced profits for our shareholders," Hasbro's CEO Chris Cocks said during an earnings call in April, per Reuters.
Read more here.
Here are some top stocks trending on Yahoo Finance in premarket trading:
AMD (AMD) stock rose over 1% in premarket trading on Wednesday, following the news it plans to partner with Microsoft to develop custom chips to power the next range of Xbox systems.
Tesla (TSLA) stock was up before the bell today. A Bloomberg report on Wednesday said that Elon Musk's artificial intelligence startup xAI was burning through $1B a month as costs of building its AI models increased.
Micron (MU) shares rose 1% today in premarket trading, following Wells Fargo analysts maintaining a Buy rating for the tech stock and a price target of $130.00.