Balance of Power: Early Edition 7/24/2025
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Yahoo
18 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures in holding pattern rush of retail earnings rush in view
US stock futures trod water on Tuesday as Wall Street braced for results from retail giants and rising concerns over inflation clouded the path to an interest rate cut. Dow Jones Industrial Average futures (YM=F) wobbled along the flat line, while those on the S&P 500 (ES=F) and the tech-heavy Nasdaq 100 (NQ=F) were also little changed. A steady march of earnings reports from retail giants begins later with Home Depot (HD) reporting before the bell. Target (TGT) will share its earnings on Wednesday, followed by Walmart (WMT) on Thursday. Taken together, the group's results will provide insight into how companies and consumers are faring as Trump's tariffs kick in. Read more: The latest on Trump's tariffs Meanwhile, President Trump continued to press for further Ukraine talks, reportedly asking Russian leader Vladimir Putin to meet with Ukrainian President Volodymyr Zelensky. This week, investors are counting down to Friday, when Federal Reserve Chair Jerome Powell will deliver remarks at the Jackson Hole symposium in Wyoming. The event often signals the latest in central bank policymakers' views on interest rates, and Powell's speech could be his last as Fed chair. Clues as to what may come next at the Fed's September policy meeting will be in focus as stubborn inflation and a faltering job market make officials' next move a particularly tricky one. On Monday, stocks closed little changed as uncertainty loomed over talks to end the war in Ukraine and the Federal Reserve's next call on interest rates. Last week, July's inflation print and retail data shook confidence that a rate cut in September was a near certainty. Shares in Palo Alto Networks (PANW) gained in premarket trading as investors cheered a strong forecast that signaled the company would get a big boost from AI. Elsewhere in tech, SoftBank agreed to invest $2 billion in Intel's (INTC) common stock. Good morning. Here's what's happening today. Economic data: Housing starts (July); Building permits (July) Earnings: Home Depot (HD), XPeng (XPEV), Medtronic (MDT), Amer Sports (AS), Toll Brothers (TOL), La-Z-Boy (LZB) Here are some of the biggest stories you may have missed overnight and early this morning: Signs of a healthier path to new records emerge for stocks Nvidia is working on an H20-beating AI chip for China Trump tariffs get S&P seal of approval Why stocks are looking ripe for a regime shift Intel gets a $2 billion lifeline from SoftBank Trump pushes Putin-Zelensky meeting after talks with both Home Depot to report earnings as Wall Street eyes US sales growth Why Google just boosted its stake in a bitcoin miner Intel gets one new now With chatter today that the government is nearing taking a 10% stake in Intel, I guess I shouldn't be shocked the bruised tech giant is hoping to gain some Street cred on its future product roadmap by tapping Softbank and Masa for cash. Embattled Intel CEO Lip Bu Tan also gains a Trump friend in Masa. Softbank will invest $2 billion in Intel at $23 a share. 'Semiconductors are the foundation of every industry. For more than 50 years, Intel has been a trusted leader in innovation. This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role," Softbank chair and CEO Masayoshi Son said in a statement. Added Intel CEO Lip Bu Tan, "We are very pleased to deepen our relationship with SoftBank, a company that's at the forefront of so many areas of emerging technology and innovation and shares our commitment to advancing U.S. technology and manufacturing leadership. Masa and I have worked closely together for decades, and I appreciate the confidence he has placed in Intel with this investment.' It's still something to see this unfolding at Intel, which has billions in cash and is in no means in a financial death spiral. Given Masa's close ties to the Trump administration, I suspect the government stake announcement could next. None of this is a good signal on Intel's turnaround, bottom line. A Trump administration spokesperson didn't return my request for comment. Good morning. Here's what's happening today. Economic data: Housing starts (July); Building permits (July) Earnings: Home Depot (HD), XPeng (XPEV), Medtronic (MDT), Amer Sports (AS), Toll Brothers (TOL), La-Z-Boy (LZB) Here are some of the biggest stories you may have missed overnight and early this morning: Signs of a healthier path to new records emerge for stocks Nvidia is working on an H20-beating AI chip for China Trump tariffs get S&P seal of approval Why stocks are looking ripe for a regime shift Intel gets a $2 billion lifeline from SoftBank Trump pushes Putin-Zelensky meeting after talks with both Home Depot to report earnings as Wall Street eyes US sales growth Why Google just boosted its stake in a bitcoin miner Economic data: Housing starts (July); Building permits (July) Earnings: Home Depot (HD), XPeng (XPEV), Medtronic (MDT), Amer Sports (AS), Toll Brothers (TOL), La-Z-Boy (LZB) Here are some of the biggest stories you may have missed overnight and early this morning: Signs of a healthier path to new records emerge for stocks Nvidia is working on an H20-beating AI chip for China Trump tariffs get S&P seal of approval Why stocks are looking ripe for a regime shift Intel gets a $2 billion lifeline from SoftBank Trump pushes Putin-Zelensky meeting after talks with both Home Depot to report earnings as Wall Street eyes US sales growth Why Google just boosted its stake in a bitcoin miner Intel gets one new now With chatter today that the government is nearing taking a 10% stake in Intel, I guess I shouldn't be shocked the bruised tech giant is hoping to gain some Street cred on its future product roadmap by tapping Softbank and Masa for cash. Embattled Intel CEO Lip Bu Tan also gains a Trump friend in Masa. Softbank will invest $2 billion in Intel at $23 a share. 'Semiconductors are the foundation of every industry. For more than 50 years, Intel has been a trusted leader in innovation. This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role," Softbank chair and CEO Masayoshi Son said in a statement. Added Intel CEO Lip Bu Tan, "We are very pleased to deepen our relationship with SoftBank, a company that's at the forefront of so many areas of emerging technology and innovation and shares our commitment to advancing U.S. technology and manufacturing leadership. Masa and I have worked closely together for decades, and I appreciate the confidence he has placed in Intel with this investment.' It's still something to see this unfolding at Intel, which has billions in cash and is in no means in a financial death spiral. Given Masa's close ties to the Trump administration, I suspect the government stake announcement could next. None of this is a good signal on Intel's turnaround, bottom line. A Trump administration spokesperson didn't return my request for comment. With chatter today that the government is nearing taking a 10% stake in Intel, I guess I shouldn't be shocked the bruised tech giant is hoping to gain some Street cred on its future product roadmap by tapping Softbank and Masa for cash. Embattled Intel CEO Lip Bu Tan also gains a Trump friend in Masa. Softbank will invest $2 billion in Intel at $23 a share. 'Semiconductors are the foundation of every industry. For more than 50 years, Intel has been a trusted leader in innovation. This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role," Softbank chair and CEO Masayoshi Son said in a statement. Added Intel CEO Lip Bu Tan, "We are very pleased to deepen our relationship with SoftBank, a company that's at the forefront of so many areas of emerging technology and innovation and shares our commitment to advancing U.S. technology and manufacturing leadership. Masa and I have worked closely together for decades, and I appreciate the confidence he has placed in Intel with this investment.' It's still something to see this unfolding at Intel, which has billions in cash and is in no means in a financial death spiral. Given Masa's close ties to the Trump administration, I suspect the government stake announcement could next. None of this is a good signal on Intel's turnaround, bottom line. A Trump administration spokesperson didn't return my request for comment. 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
30 minutes ago
US Attorney Jay Clayton approved by judges to remain as top prosecutor in New York
NEW YORK -- President Donald Trump's pick to be the top federal prosecutor in Manhattan will get to stay in the job, even though he hasn't been confirmed by the U.S. Senate, after a group of judges voted Monday to allow him to continue in the position. The judges' decision to approve Jay Clayton as the U.S. attorney for the Southern District of New York is a victory for the Trump administration, which has resorted to unorthodox maneuvers to keep some of the president's other nominees for U.S. attorneys in place after they failed to advance in the Senate. The outcome was announced in a release by Southern District Executive Edward Friedland. It said Clayton will serve as U.S. attorney unless someone else is nominated by Trump and approved by the Senate. Clayton, who served as chairman of the Securities and Exchange Commission between 2017 and 2020, has deep-rooted Wall Street ties and over two decades of experience at a prominent international law firm, although he never was a prosecutor before taking the position four months ago. In a statement, Clayton said: 'I am honored to continue serving the people of New York together with the talented and hardworking women and men of the Office.' The approval came after several other U.S. attorneys across the country who were appointed by the Trump administration were unable to gain the approval of judges in their districts. The Manhattan prosecutor's office has undergone turmoil in recent months after several prosecutors, including then interim U.S. Attorney Danielle Sassoon, resigned after refusing to carry out orders from the Justice Department to drop corruption charges against Mayor Eric Adams. The case was eventually dropped after prosecutors from Washington submitted a request to a judge. Another assistant U.S. attorney, Maurene Comey, was recently fired shortly after she handled the bulk of duties in the trial of hip-hop producer Sean 'Diddy' Combs. He was acquitted of the most serious racketeering conspiracy and sex trafficking charges, though he remains jailed and awaiting sentencing for his conviction on prostitution-related charges. Clayton has maintained a relatively low profile while heading an office of prosecutors long known for its independence from Washington. The decision on Clayton came after judges in several other federal jurisdictions across the country rejected the person chosen by the Trump administration as U.S. attorney, causing the administration to employ other legal maneuvers to keep its pick in place. The administration's appointments normally would face Senate approval, but Democratic senators in their home states can block the usual process, as several have done. That lets the appointed top prosecutor serve 120 days before the district's federal judges decide whether the individual can remain in the post. The judges can also appoint a successor. In the past, it was considered rare for judges to reject the appointed top prosecutor in their district, but several rejections have occurred this year. In the Northern District of New York, which encompasses 32 counties in upstate New York and includes the cities of Albany, Binghamton and Syracuse, judges rejected the appointment of John A. Sarcone III. The administration then appointed him as the special attorney to the attorney general, enabling him to continue in his role as U.S. attorney even though he doesn't directly carry that title. In New Jersey, federal judges rejected the appointment of former Trump defense attorney Alina Habba, choosing an interim top federal prosecutor in the state instead. Attorney General Pam Bondi responded by firing the judges' chosen successor and reinstalling Habba as acting U.S. attorney. Habba's tenure still faces uncertainty, though, after a lawsuit challenging the legality of the administration's move to keep her in place awaited a ruling this week by a Pennsylvania federal judge. The Justice Department says the president is entitled to name the person he wants to the position. Unlike Clayton, who has remained relatively controversy-free in the runup to the judges' vote, Sarcone and Habba attracted headlines during their tenures. In June, Sarcone said he was attacked by a knife-wielding man from El Salvador outside an Albany hotel. The man, who lacked documentation to be in the country, was initially charged with attempted second-degree murder, but prosecutors downgraded the charge after reviewing video surveillance footage and the man pleaded guilty to menacing. Habba brought a rare federal criminal case against a sitting member of Congress for allegations other than fraud or corruption when U.S. Rep. LaMonica McIver was charged with assault for allegedly making physical contact with law enforcement officials when Newark's mayor was arrested during a chaotic visit to a privately operated immigration detention center. McIver denied assaulting anyone. Habba has also launched an investigation into New Jersey's Democratic governor, Phil Murphy, and attorney general, Matt Platkin, over the state's directive barring local law enforcement from cooperating with federal agents conducting immigration enforcement. The administration has run into similar troubles elsewhere in the country. Two others who have been able to remain serving in roles as top federal prosecutors without approval from the Senate or judges in their districts are Bilal 'Bill' Essayli in Los Angeles and Sigal Chattah in Nevada. ___
Yahoo
41 minutes ago
- Yahoo
The News Leader to host House of Delegates candidate forum Sept. 3
Save the night of Sept. 3 – The News Leader will host all four local candidates for House of Delegates in a special candidate forum. The News Leader is partnering with Victory Worship Center to bring the candidate forum to life. The moderators of the debate will be Lyra Bordelon and Victory Worship Center founder Ray Eppard. All four candidates have confirmed they will be in attendance. The candidates, with links to their websites, include: The Democratic candidate for House of Delegates District 35 Jena L. Crisler. The Republican incumbent for House of Delegates District 35 Chris S. Runion. The Democratic candidate for House of Delegates District 36 Makayla R. Venable. The Republican incumbent for House of Delegates District 36 Ellen H. Campbell. The forum will be held at the Augusta County Government Center at 7 p.m. on Sept. 3. For those unable to make it in person, The News Leader will publish a video of the event. It will also be livestreamed on YouTube at and on Facebook at Ahead of the forum, The News Leader staff is calling for readers to submit any questions they might have for the three races. Please send any questions or thoughts about what you'd like to learn from the candidates to STA-LOCALNEWS@ More: Service awards, Summerfest, gallery exhibit and more: THE DIGEST More: Kaylee Turner sentenced after pleading guilty in Seth Wallace murder case Lyra Bordelon (she/her) is the public transparency and justice reporter at The News Leader. Do you have a story tip or feedback? It's welcome through email to lbordelon@ Subscribe to us at This article originally appeared on Staunton News Leader: The News Leader to host House of Delegates candidate forum Sept. 3 Solve the daily Crossword
