Pulte's Social Media Posts Become Must-Follow for Stock Traders
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For years, investors have found themselves at the whim of President Donald Trump's social-media posts. Now, traders are being forced to pay attention to an unlikely official: Federal Housing Finance Agency head Bill Pulte.
Stocks have swung wildly on Pulte's comments as he opines on everything from credit score pricing, to cryptocurrencies as mortgage assets, and even the job security of Federal Reserve Chair Jerome Powell. Sometimes preceded by cryptic teasers, his online comments have fueled the worst one-day drop in half a decade for credit-score provider Fair Isaac Corp., multiple slumps in credit bureau stocks and even a brief drip in the entire S&P 500 Index on Friday.
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