Red States Are Suddenly Cracking Down on Squatters — Despite No Evidence of a Crisis
As homelessness reaches record highs and over 21 million households nationwide spend more than 30 percent of their income on rent, state legislators have decided what the problem is. It's not that there are an estimated 1.4 million abandoned residential properties in the U.S., or that private equity landlords have gobbled up over 10 percent of the country's apartments. The problem is the people who take up residence in empty properties or overstay in apartments after being invited in tenants who have left — despite little evidence of an increase in squatting.
After five states (Alabama, Florida, Georgia, Tennessee, and West Virginia) enacted new laws last year criminalizing squatting and adopting expedited procedures for removing squatters, ALEC adopted a model Stop Squatters Act in July 2024 that seeks to accomplish the same goal.
Legislation closely tracking — or in some cases exceeding — ALEC's model was enacted into law in 10 states this year (Arkansas, Indiana, Kentucky, Maryland, Mississippi, Montana, Texas, and Wyoming, with Florida and West Virginia adding to what was already passed last year), and in six of those an ALEC state chair was the author, lead sponsor, or cosponsor of the bill.
The new laws create real risks that housing-insecure people will get further caught up in the dragnet of criminalization, with fewer legal protections, advocates say.
ALEC-aligned legislators argue that squatting provides a false solution to homelessness as housing costs explode. Just as concerning, they used the anti-squatter push in Texas to unsuccessfully advance a broad-based attack on the rights of tenants, and in Maryland, to successfully push back against Good Cause Eviction reforms.
Critics say the legislation is a solution in search of a problem.
'There's no real evidence of any significant squatting crisis despite what the industry claims,' says Eric Dunn, director of litigation at the National Housing Law Project (NHLP). 'One of the industry lobbying groups surveyed their members and found that there were 1,200 cases of squatting in Atlanta -– but you can't see the survey results, just their report on it.'
The survey numbers are based on an indeterminate number of years, and there is no indication of a trend as this was the first time the rental industry conducted a survey on the issue. It is also unclear how the survey defined squatting.
Either way, the result of the legislation will be to increase dangerous encounters between police and tenants, Dunn argued.
'No matter who you are, if you're a tenant or a squatter, you don't want the police knocking on your door,' he said. 'It's just a recipe for more dangerous encounters between people and police.'
ALEC's Model Anti-Squatter Bill
The legislative push has been driven by ALEC and the Pacific Legal Foundation (PLF), an affiliate of the right-wing State Policy Network. Originally founded in 1973 as the Conservative Caucus of State Legislators, ALEC has grown to become one of the leading drafters of state legislation across the U.S., a pay-to-play clearinghouse for corporate interests to advance their agenda — with particular efficacy in red states.
The model legislation was released in conjunction with a report by the PLF entitled 'Locking Squatters Out,' which cited a 2023 survey of landlords by the National Rental Home Association that found a post-pandemic jump in 'squatting' cases in Georgia, and an increase in New York since 2020.
ALEC's model bill distinguishes between tenants and squatters, but provides no protections for family members of tenants, and provides no opportunity for a court hearing prior to removal. Once a property owner files a complaint, law enforcement is required to issue a 'notice to immediately vacate' and 'put the owner in possession of the real property' if 'preliminary fact-finding' supports the owner's claim.
ALEC does not disclose its funders. The pro-landlord California Association of Realtors Mobilization PAC gave the PLF a $150,000 grant in 2023. In the past, the group's biggest funders have been the Charles Koch foundations and the right-wing Searle Freedom Trust, which also donate heavily to ALEC.
At a meeting in December 2024, an ALEC official trumpeted the anti-squatter bill as one of the group's top priorities for 2025. And in Arkansas, Indiana, and Montana, staff for the PLF testified in favor of anti-squatting legislation. In Florida, the Koch-backed Americans for Prosperity (AFP) lobbied in favor of one of the bills.
The following is an overview of legislation aligned with ALEC's model bill that passed in the 2025 session.
Arkansas
Arkansas passed HB 1049, 'A Bill To Amend Arkansas Law Concerning Criminal Offenses; And To Criminalize Unlawful Squatting,' which was signed into law by Governor Sarah Huckabee Sanders (R) on March 4, 2025, with no exclusion for family members of former tenants. Sanders said on Facebook that, 'In Arkansas, we protect property owners and now allow law enforcement to kick squatters off their property.'
Jeff Rosenzweig, an attorney in Little Rock, testified against the legislation, warning lawmakers that the way it was written will lead to catching 'people that I don't think [the lead sponsor] was trying to catch, but because it's a criminal statute I think we need to fix that … with just dropping the relevant criminal trespass defenses into the bill.'
The bill was cosponsored by State Representative David Ray (R-69), who is one of ALEC's Arkansas state chairs.
Florida
Under the leadership of Governor Ron DeSantis (R), Florida pioneered the anti-squatter push, passing an anti-squatter bill (HB 621) in 2024. This legislation was more expansive than the ALEC model bill in that there is no requirement for a sheriff to perform an investigation prior to evicting the occupant if the owner attests to a list of facts.
Florida doubled down this year, passing SB 322, expanding the squatter bill to include commercial real estate property and permit the use of force, and SB 606, authorizing the immediate removal of transients and unwanted guests from hotels, motels, and food service establishments.
'Florida doesn't tolerate squatters; we stand with property owners,' DeSantis said in June.
Cynthia Laurent, the housing justice campaigner at the advocacy group Florida Rising, stated that the two pieces of legislation are just another way to further tilt the state's laws in favor of landlords and against tenants.
'What they are doing is amplifying … [a] very few small examples of people who have dealt with the issue of squatting,' Laurent told the Center for Media and Democracy (CMD). 'Legislators say, 'This is for property rights, this is for public safety.' But the true public safety solution is to make sure that folks are safe and secure in their housing.'
Laurent sees the anti-squatter push as part of a broader effort to crack down on tenants' rights that is increasing homelessness in Florida.
In the aftermath of the pandemic, Florida Rising and other pro-tenant organizations had won Tenants' Bills of Rights and Offices of Tenant Advocacy in various Democratic-leaning Florida cities, Laurent explained. But those wins were blocked — 'preempted' — by the Florida state legislature. ALEC has also been deeply involved in promoting preemption legislation.
'There's skyrocketing insurance costs in Florida due to disasters,' which pushes people out of home ownership, Laurent pointed out. The situation for renters is equally bad. 'Since the pandemic there has been an increase in private equity coming into the state purchasing homes to rent them out and make profit that way,' she said. 'It was revealed that landlords were colluding in setting prices artificially high using platforms like RealPage, those renters were then forced into a motel/hotel lease [and] technically … designated as transient.'
By expanding the squatter legislation to motels and hotels, Florida Republicans are trying to claw back some of the last housing security there is, as motels and hotels will not sign leases for longer than 30 days, Laurent concluded.
Indiana
In May, Indiana Governor Mike Braun (R) signed SB 157 into law, which is similar to the ALEC model legislation except that it exempts 'invitees' of former tenants and does not require any fact-finding before removal. The bill was sponsored by State Senator Linda Rogers (R–11), who is an ALEC state chair.
Indiana Legal Services warned that the way the bill was written, '[Landlords] file a statement with law enforcement and the police can remove people without a hearing or judicial review.'
Kentucky
Governor Andy Beshear (D) signed HB 10 into law in Kentucky in March. Similar to the ALEC model bill, it provides protections only for immediate family members of the owner but not immediate family members of tenants, with the only remedy being for a removed occupant to sue in civil court.
Maryland
Maryland legislators introduced SB 46, a draconian version of the ALEC model bill, in January. It was cosponsored by State Senator Justin Ready (R–05), one of ALEC's state chairs in Maryland. As introduced, the bill would have required a sheriff to remove anyone from any property based solely on an owner's affidavit that they were 'fraudulently in possession of the property,' with no protections for tenants, former tenants, or their family members.
Thanks to pushback from housing groups, the bill was amended to mandate that courts hold a hearing within 10 days if a landlord alleges squatting. However, Zafar Shah, a housing attorney with Maryland Legal Aid, said that this bill still filled an extremely important purpose for the landlord lobby. Advocates had been pushing a broad-based reform to the eviction process, mandating that landlords have legal good cause prior to evicting a tenant. The need to ensure that the squatter bill didn't short-circuit the existing eviction process helped contribute to the good cause legislation stalling.
'The whole legislature, left and right, is really backtracking on the right to housing,' Shah told the Center for Media and Democracy. 'The 'stop squatters' push is a part of that.'
Mississippi
In April, Governor Tate Reeves (R) signed the Real Property Owners Protection Act (HB 1200) into law in Mississippi. The bill contains no exemptions for immediate family members of tenants who remain after a lease has ended. The bill was cosponsored by State Representative Lee Yancey (R–74), another ALEC state chair.
Montana
Montana Governor Greg Gianforte (R) signed a bill (SB 101) in April that closely hews to ALEC's model legislation by making squatting a crime and allowing property owners to request that law enforcement officers remove any unauthorized person.
Amy Hall, the supervising attorney for housing with Montana Legal Services, was perplexed by the legislation. 'I have not seen any clients who have contacted us because they're being removed as a squatter. Squatting is just not a huge issue in Montana,' Hall said. 'As far as I'm concerned, this whole bill was 100 percent unnecessary.'
Jim Manley, PLF's vice president for legal affairs, testified in favor of the bill.
North Carolina
In July, North Carolina Governor Josh Stein (D) vetoed a squatting bill (HB 96) that is similar to the ALEC model bill but with expanded protections for due process — effectively a substantially expedited eviction process — despite initially supporting the legislation. Stein stated that the only reason he had vetoed it was because it contained a provision that blocked municipalities from regulating puppy mills, an unrelated addition made to the squatter bill once it reached the state Senate.
Texas
As in Maryland, ALEC legislators in Texas sought to use the squatting issue to weaken tenants' rights. State Senator Bryan Hughes (R–1), an ALEC member, authored a bill (SB 1333) that went beyond the ALEC model by allowing immediate removal of 'unauthorized occupants' (without any opportunity for a hearing) based on an owner's 'verified' petition, and by making squatting a felony if the owner's loss is $2,500 or more. Like the ALEC model, the law provides protections only for immediate family members of the property owner, not the tenant.
ALEC's Texas Senate chair, State Senator Paul Bettencourt (R–7), authored a second bill (SB 38) framed as anti-squatter legislation that would have created a streamlined eviction process without a hearing or trial for tenants and squatters alike.
'What the Texas Apartment Association was trying to do was to piggyback on the attention on squatting to pass really radical anti-renter legislation in Texas,' Ben Martin, the research director of the pro-tenant group Texas Housers, told the Center for Media and Democracy. 'One person who gave testimony from a landlord perspective stated that, 'From our point of view, a holdover tenant is a squatter.' What they were seeking was a top-to-bottom rewrite of civil law in Texas to favor landlords at the expense of tenants.'
Advocates won an amendment to Bettencourt's bill that limited the expedited removal process to squatting cases only.
Both bills were enacted in May and signed by Governor Greg Abbott (R).
State Senator Molly Cook (D–15), who opposed both bills, told CMD that, 'As an ER nurse, I've seen how housing insecurity leads to poor public health. There's been a confluence of awful policies that has led to the worst housing inequality we've ever seen. There is a way to make sure that everyone is taken care of. Just slapping 'squatter' on a bill that erodes protections for due process is not the right approach. [In Texas] it is a lot easier to get a criminal penalty passed than to get real policy passed that addresses homelessness.'
West Virginia
On the heels of criminalizing squatting through HB 4940 last year, the West Virginia legislature enacted HB 2434, a very similar version of ALEC's model bill, in April. Traci Strickland, executive director of Kanawha Valley Collective, which seeks to end homelessness, told CMD that 'it's a bill with no solution. I don't want people squatting in houses either. I want a housing solution for people. Tickets for squatting means you're just going to have people who are racking up tickets and criminal offenses, which then hurts their housing and employment opportunities once we get them on the pathway to housing.'
Wyoming
Wyoming's legislature passed a law (SF 6) in February that is very similar to ALEC's model bill. It provides for immediate removal of an 'unauthorized person' with no opportunity for a hearing and does not exclude immediate family members of tenants, only offering protections for immediate family members of owners.
The bill was introduced by the House Judiciary Committee, which includes one of ALEC's state chairs, State Representative Daniel Singh (R–61).
Colleen Scerpella and Arn Pearson contributed research to this article.
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While the details are still being worked out, the chips in question reportedly include Nvidia's H20 AI chip and AMD's MI308 chips, which previously faced export controls from the Trump administration. Nvidia CEO Jensen Huang made the deal at the White House last Wednesday, the same day Apple (AAPL) agreed to increase its US investment to $600 billion, ostensibly to help the company avoid tariffs, as the Trump administration looks to monetize trade policy. An Nvidia spokesperson told Yahoo Finance: 'We follow rules the U.S. government sets for our participation in worldwide markets. While we haven't shipped H20 to China for months, we hope export control rules will let America compete in China and worldwide. America cannot repeat 5G and lose telecommunication leadership. America's AI tech stack can be the world's standard if we race." As for other chip stocks, Intel (INTC) and Qualcomm (QCOM) shares rose, while Taiwan Semiconductor (TSM) fell modestly. Read more here. Good morning. Here's what's happening today. Earnings: (BBAI), (MNDY), Oklo (OKLO), Plug Power (PLUG) Economic calendar: No notable releases. Here are some of the biggest stories you may have missed overnight and early this morning: Nvidia, AMD revenue deal brings 'monetization of US trade policy' Yahoo Finance poll: Americans face new, complex financial challenges Earnings live: stock tanks, AMC to report Debate over Fed rate cuts heats up: What to watch this week Fed's Bowman makes case for 3 interest rate cuts in 2025 Intel CEO to visit White House on Monday Citi strategists raise S&P 500 target on resilient earnings Bitcoin Nears Record as Treasury Investors Boost Crypto Market BofA poll shows record number of investors say stocks overvalued Lithium market soars as CATL shuts one of world's biggest mines stock tanks after the company reports earnings stock plunged aorund 20% in premarket trading on Monday after the Israeli-based software company reported earnings. In the second quarter, reported earnings of $0.03 per share and revenue of $299 million. While revenue beat analyst expectations of $293 million, GAAP profits fell short, as Wall Street was looking for $0.20 per share, per S&P Global Market Intelligence. Investors have been looking for signs that economic uncertainty is pushing companies to pull back their spending on technology and software. The company's operating loss fell to $11.6 million from $1.8 million a year ago, and the operating margin fell to negative 4% from 1% last year. Read more live coverage of corporate earnings here US gold futures fall as traders await clarification on tariffs US gold futures (GC=F) in New York fell 2% as traders waited for the White House to clarify its tariff policy. Last week, the US Customs and Border agency surprised the market by ruling that 100oz and 1kg gold bars would face tariffs. Bloomberg News reports: Read more here. Target still in the bear camp Good WSJ story this morning on Target (TGT) and its many challenges, one of them finding its next CEO. I wrote more on this a couple months ago. I would expect an abysmal quarter (another one) from Target when it reports second quarter earnings on August 20. The company is not only dealing with operational challenges, but it has totally lost the value perception battle with Walmart. I don't see these dynamics changing this year, and maybe not until deep into 2026 provided an outside CEO is brought in to run a full assessment of the business. Bitcoin near a fresh record Bitcoin looks to be breaking out of its recent trading range, nearing a fresh record this morning. There doesn't appear to be a clear catalyst for the pop today, though this Sunday X post from bitcoin evangelist Michael Saylor may have stoked the bulls. It suggests he will continue to be a buyer of bitcoin — perhaps no surprise, but the crypto market likes to be coddled. "If you don't stop buying Bitcoin, you won't stop making Money," Saylor wrote. crashing Shares of (AI) are getting crushed pre-market to the tune of 30%. And the rout is 100% deserved. Late Friday the company said it sees preliminary first fiscal quarter revenue of $70.2 million to $70.4 million, about 33% below the mid-point of its prior guidance for $100 million to $109 million. Sales would be down 19% from the prior year. The adjusted operating loss will be $57.7 million to $59.9 million, roughly twice the $23.5 million to $33.5 million loss that it had expected. I don't think there is anything to read into the AI trade here — this seems very company-specific, and tied to a sales reorg. Why the Nvidia, AMD revenue-sharing pact with the White House is ripe for a legal challenge Yahoo Finance's Alexis Keenan reports: Read more here. Yahoo Finance's Alexis Keenan reports: Read more here. Trump reportedly signs order granting another 90-day extension on harshest China tariffs US stocks were little changed following reports that President Trump granted China another 90-day tariff deadline extension on Monday. The S&P 500 (^GSPC) and tech-heavy Nasdaq Composite (^IXIC) slipped 0.1% lower, while the Dow Jones Industrial Average (^DJI) led the modest declines, falling 0.4% Yahoo Finance's Ben Werschkul reports: Read more here. US stocks were little changed following reports that President Trump granted China another 90-day tariff deadline extension on Monday. The S&P 500 (^GSPC) and tech-heavy Nasdaq Composite (^IXIC) slipped 0.1% lower, while the Dow Jones Industrial Average (^DJI) led the modest declines, falling 0.4% Yahoo Finance's Ben Werschkul reports: Read more here. July CPI report expected to show inflation accelerated amid tariff pressures Yahoo Finance's Allie Canal reports: Read more here. Yahoo Finance's Allie Canal reports: Read more here. Gold at session lows as Trump says precious metal will be not be tariffed Gold (GC=F) futures traded near session lows on Monday afternoon after President Trump said imports of the precious metal will not be tariffed. "Gold will not be Tariffed!" said a statement posted on social media. The precious metal declined more than 2% to trade near $3,404 per ounce. Last Friday gold futures touched intraday record highs amid reports that imports of Swiss gold bars would not be exempt from tariffs. Later in the session the metal trimmed gains after the White House indicated it would clarify "misinformation about the tariffing of gold bars and other specialty products." Gold (GC=F) futures traded near session lows on Monday afternoon after President Trump said imports of the precious metal will not be tariffed. "Gold will not be Tariffed!" said a statement posted on social media. The precious metal declined more than 2% to trade near $3,404 per ounce. Last Friday gold futures touched intraday record highs amid reports that imports of Swiss gold bars would not be exempt from tariffs. Later in the session the metal trimmed gains after the White House indicated it would clarify "misinformation about the tariffing of gold bars and other specialty products." stock falls 23% after lowering revenue guidance Inc. (AI) stock tumbled as much as 30% on Monday morning after the software company reported a steep sales miss and as its founder's health issues are spurring a search for a successor. Shares were down 23% in afternoon trading. The company released preliminary results late Friday showing revenue well below analysts' estimates as it undergoes a reorganization of its sales operation. Guidance for the fiscal first quarter also came in lighter than expected. Bloomberg reported that CEO Tom Siebel attributed what he called "completely unacceptable" results to recent health issues that prevented him from actively helping to sell the company's software. Several weeks ago, he said the company would begin to search for a successor. As Yahoo Finance's Brian Sozzi noted today, problems appear to be company-specific — not an indicator of the overall AI trade. "But I think now is probably the time to pivot away from some of the pure plays and go to more of bank shots on AI, and names like that would be in the industrials that, you know, aren't even tech stocks, but are benefiting from all of the infrastructure spending," John Campbell of Allsprings Global Investments said on Opening Bid. Read more here. Inc. (AI) stock tumbled as much as 30% on Monday morning after the software company reported a steep sales miss and as its founder's health issues are spurring a search for a successor. Shares were down 23% in afternoon trading. The company released preliminary results late Friday showing revenue well below analysts' estimates as it undergoes a reorganization of its sales operation. Guidance for the fiscal first quarter also came in lighter than expected. Bloomberg reported that CEO Tom Siebel attributed what he called "completely unacceptable" results to recent health issues that prevented him from actively helping to sell the company's software. Several weeks ago, he said the company would begin to search for a successor. As Yahoo Finance's Brian Sozzi noted today, problems appear to be company-specific — not an indicator of the overall AI trade. "But I think now is probably the time to pivot away from some of the pure plays and go to more of bank shots on AI, and names like that would be in the industrials that, you know, aren't even tech stocks, but are benefiting from all of the infrastructure spending," John Campbell of Allsprings Global Investments said on Opening Bid. Read more here. Bitcoin surges above $120,000, ethereum rises as investors pile into crypto Bitcoin (BTC-USD) surged on Monday to trade near record highs as investor enthusiasm and momentum around crypto grew. The digital token reached $122,000 on Monday before easing to around $120,000. The gains come as inflows into exchange-traded funds (ETFs) have grown and public companies have been adding bitcoin to their balance sheets. Bitcoin wasn't the only cryptocurrency getting a bid; ethereum (ETH-USD) touched 2021 levels on Monday. The second-largest cryptocurrency by market cap has surged roughly 190% since the April market lows. Companies have been adding ethereum to their balance sheets as a way to gain exposure to the tech infrastructure behind decentralized finance and digital assets, such as stablecoins. The move higher in crypto also comes as stocks hover near record highs on expectations that the Federal Reserve will cut rates in September and President Trump's next Fed chair pick will likely bring looser monetary policy. Bitcoin (BTC-USD) surged on Monday to trade near record highs as investor enthusiasm and momentum around crypto grew. The digital token reached $122,000 on Monday before easing to around $120,000. The gains come as inflows into exchange-traded funds (ETFs) have grown and public companies have been adding bitcoin to their balance sheets. Bitcoin wasn't the only cryptocurrency getting a bid; ethereum (ETH-USD) touched 2021 levels on Monday. The second-largest cryptocurrency by market cap has surged roughly 190% since the April market lows. Companies have been adding ethereum to their balance sheets as a way to gain exposure to the tech infrastructure behind decentralized finance and digital assets, such as stablecoins. The move higher in crypto also comes as stocks hover near record highs on expectations that the Federal Reserve will cut rates in September and President Trump's next Fed chair pick will likely bring looser monetary policy. Intel stock jumps with CEO Lip-Bu Tan reportedly set to meet with President Trump Intel (INTC) stock jumped more than 4% ahead of CEO Lip-Bu Tan's reported visit to the White House after President Trump called for his resignation. Citing unnamed sources, the Wall Street Journal reported over the weekend that Tan is set to meet with Trump Monday to explain his personal and professional background and to propose ways that Intel and the government can collaborate. Intel did not immediately respond to Yahoo Finance's questions regarding the reported meeting. Read the full story here. Intel (INTC) stock jumped more than 4% ahead of CEO Lip-Bu Tan's reported visit to the White House after President Trump called for his resignation. Citing unnamed sources, the Wall Street Journal reported over the weekend that Tan is set to meet with Trump Monday to explain his personal and professional background and to propose ways that Intel and the government can collaborate. Intel did not immediately respond to Yahoo Finance's questions regarding the reported meeting. Read the full story here. Tesla stock rises as EV maker applies for electricity supply license in UK Tesla (TSLA) stock surged 3% on Monday after the EV maker applied for a license to provide electricity to UK households and businesses. Apart from making electric vehicles and robotaxis, Tesla also provides Megapack batteries. The company's energy business grew 30% year over year last quarter, accounting for its largest margins. If the electricity supply license application submitted to the UK energy regulator Ofgem is approved, Tesla would be allowed to compete with other energy firms in the region. Tesla (TSLA) stock surged 3% on Monday after the EV maker applied for a license to provide electricity to UK households and businesses. Apart from making electric vehicles and robotaxis, Tesla also provides Megapack batteries. The company's energy business grew 30% year over year last quarter, accounting for its largest margins. If the electricity supply license application submitted to the UK energy regulator Ofgem is approved, Tesla would be allowed to compete with other energy firms in the region. Micron jumps after memory chipmaker raises Q4 financial guidance Memory chipmaker Micron (MU) — which supplies its semiconductors to Nvidia (NVDA) to use in its products — saw its stock jump more than 4% Monday after raising its financial outlook for its fourth quarter, which ends Aug. 28. The company said it expects to see adjusted revenue of $11.1 billion to $11.3 billion, up from its prior projected range of $10.4 billion to $11 billion. Micron expects to report quarterly adjusted earnings per share of $2.78 to $2.92, more than its previous range of $2.35 to $2.65. "This revised guidance reflects improved pricing, particularly in DRAM, and strong execution," the company said in a statement. Micron's DRAM chips are one type of memory chip used in devices like personal computers and smartphones. Memory chipmaker Micron (MU) — which supplies its semiconductors to Nvidia (NVDA) to use in its products — saw its stock jump more than 4% Monday after raising its financial outlook for its fourth quarter, which ends Aug. 28. The company said it expects to see adjusted revenue of $11.1 billion to $11.3 billion, up from its prior projected range of $10.4 billion to $11 billion. Micron expects to report quarterly adjusted earnings per share of $2.78 to $2.92, more than its previous range of $2.35 to $2.65. "This revised guidance reflects improved pricing, particularly in DRAM, and strong execution," the company said in a statement. Micron's DRAM chips are one type of memory chip used in devices like personal computers and smartphones. Stocks steady at the open US stocks were steady at the open on Monday after the Nasdaq Composite (^IXIC) notched two consecutive records last week. The Dow Jones Industrial Average (^DJI) rose nearly 0.1%. The S&P 500 (^GSPC) and the tech-heavy Nasdaq (^IXIC) hovered above the flat line. Chip stocks were in focus Monday after Nvidia (NVDA) and AMD (AMD) reportedly inked deals with the US government to sell their chips to China in exchange for sharing 15% of their revenues from the country. Nvidia shares fell less than 1% on Monday, while AMD shares lost over 1.5%. Looking ahead this week, investors are awaiting a key inflation reading and the upcoming summit between President Trump and Russian President Putin. US stocks were steady at the open on Monday after the Nasdaq Composite (^IXIC) notched two consecutive records last week. The Dow Jones Industrial Average (^DJI) rose nearly 0.1%. The S&P 500 (^GSPC) and the tech-heavy Nasdaq (^IXIC) hovered above the flat line. Chip stocks were in focus Monday after Nvidia (NVDA) and AMD (AMD) reportedly inked deals with the US government to sell their chips to China in exchange for sharing 15% of their revenues from the country. Nvidia shares fell less than 1% on Monday, while AMD shares lost over 1.5%. Looking ahead this week, investors are awaiting a key inflation reading and the upcoming summit between President Trump and Russian President Putin. Paramount seals $7.7 billion exclusive US rights deal with UFC Paramount has agreed to a seven-year, $7.7 billion deal to become the exclusive US broadcaster of the Ultimate Fighting Championship (UFC). The agreement is Paramount's largest since David Ellison took over as chair and CEO last week, following the completion of Skydance's takeover of the company. Under the contract, Paramount will stream all 13 of UFC's marquee events and 30 Fight Nights annually on its streaming platform from 2026, with selected events also broadcast on CBS, the Financial Times reported. The FT reports: Read more here (subscription required). Paramount has agreed to a seven-year, $7.7 billion deal to become the exclusive US broadcaster of the Ultimate Fighting Championship (UFC). The agreement is Paramount's largest since David Ellison took over as chair and CEO last week, following the completion of Skydance's takeover of the company. Under the contract, Paramount will stream all 13 of UFC's marquee events and 30 Fight Nights annually on its streaming platform from 2026, with selected events also broadcast on CBS, the Financial Times reported. The FT reports: Read more here (subscription required). AMC tops revenue estimates as blockbuster titles boost theater attendance AMC (AMC) stock jumped 8% in premarket trading after the movie theater chain reported attendance in the second quarter grew nearly 26% as blockbusters drew in moviegoers. Reuters reports: Read more here. AMC (AMC) stock jumped 8% in premarket trading after the movie theater chain reported attendance in the second quarter grew nearly 26% as blockbusters drew in moviegoers. Reuters reports: Read more here. Nvidia, AMD stocks decline after chipmakers agree to pay US 15% cut of China chip sales Shares of Nvidia (NVDA) and AMD (AMD) fell on Monday after the two companies agreed to pay the US government 15% of the revenue for certain chip sales to China. Nvidia stock was off by 0.4% premarket, while AMD stock dropped 1.4% as investors digested the unusual deal in which the chipmakers will essentially pay for export licenses. While the details are still being worked out, the chips in question reportedly include Nvidia's H20 AI chip and AMD's MI308 chips, which previously faced export controls from the Trump administration. Nvidia CEO Jensen Huang made the deal at the White House last Wednesday, the same day Apple (AAPL) agreed to increase its US investment to $600 billion, ostensibly to help the company avoid tariffs, as the Trump administration looks to monetize trade policy. An Nvidia spokesperson told Yahoo Finance: 'We follow rules the U.S. government sets for our participation in worldwide markets. While we haven't shipped H20 to China for months, we hope export control rules will let America compete in China and worldwide. America cannot repeat 5G and lose telecommunication leadership. America's AI tech stack can be the world's standard if we race." As for other chip stocks, Intel (INTC) and Qualcomm (QCOM) shares rose, while Taiwan Semiconductor (TSM) fell modestly. Read more here. Shares of Nvidia (NVDA) and AMD (AMD) fell on Monday after the two companies agreed to pay the US government 15% of the revenue for certain chip sales to China. Nvidia stock was off by 0.4% premarket, while AMD stock dropped 1.4% as investors digested the unusual deal in which the chipmakers will essentially pay for export licenses. While the details are still being worked out, the chips in question reportedly include Nvidia's H20 AI chip and AMD's MI308 chips, which previously faced export controls from the Trump administration. Nvidia CEO Jensen Huang made the deal at the White House last Wednesday, the same day Apple (AAPL) agreed to increase its US investment to $600 billion, ostensibly to help the company avoid tariffs, as the Trump administration looks to monetize trade policy. An Nvidia spokesperson told Yahoo Finance: 'We follow rules the U.S. government sets for our participation in worldwide markets. While we haven't shipped H20 to China for months, we hope export control rules will let America compete in China and worldwide. America cannot repeat 5G and lose telecommunication leadership. America's AI tech stack can be the world's standard if we race." As for other chip stocks, Intel (INTC) and Qualcomm (QCOM) shares rose, while Taiwan Semiconductor (TSM) fell modestly. Read more here. Good morning. Here's what's happening today. Earnings: (BBAI), (MNDY), Oklo (OKLO), Plug Power (PLUG) Economic calendar: No notable releases. Here are some of the biggest stories you may have missed overnight and early this morning: Nvidia, AMD revenue deal brings 'monetization of US trade policy' Yahoo Finance poll: Americans face new, complex financial challenges Earnings live: stock tanks, AMC to report Debate over Fed rate cuts heats up: What to watch this week Fed's Bowman makes case for 3 interest rate cuts in 2025 Intel CEO to visit White House on Monday Citi strategists raise S&P 500 target on resilient earnings Bitcoin Nears Record as Treasury Investors Boost Crypto Market BofA poll shows record number of investors say stocks overvalued Lithium market soars as CATL shuts one of world's biggest mines Earnings: (BBAI), (MNDY), Oklo (OKLO), Plug Power (PLUG) Economic calendar: No notable releases. Here are some of the biggest stories you may have missed overnight and early this morning: Nvidia, AMD revenue deal brings 'monetization of US trade policy' Yahoo Finance poll: Americans face new, complex financial challenges Earnings live: stock tanks, AMC to report Debate over Fed rate cuts heats up: What to watch this week Fed's Bowman makes case for 3 interest rate cuts in 2025 Intel CEO to visit White House on Monday Citi strategists raise S&P 500 target on resilient earnings Bitcoin Nears Record as Treasury Investors Boost Crypto Market BofA poll shows record number of investors say stocks overvalued Lithium market soars as CATL shuts one of world's biggest mines stock tanks after the company reports earnings stock plunged aorund 20% in premarket trading on Monday after the Israeli-based software company reported earnings. In the second quarter, reported earnings of $0.03 per share and revenue of $299 million. While revenue beat analyst expectations of $293 million, GAAP profits fell short, as Wall Street was looking for $0.20 per share, per S&P Global Market Intelligence. Investors have been looking for signs that economic uncertainty is pushing companies to pull back their spending on technology and software. The company's operating loss fell to $11.6 million from $1.8 million a year ago, and the operating margin fell to negative 4% from 1% last year. Read more live coverage of corporate earnings here stock plunged aorund 20% in premarket trading on Monday after the Israeli-based software company reported earnings. In the second quarter, reported earnings of $0.03 per share and revenue of $299 million. While revenue beat analyst expectations of $293 million, GAAP profits fell short, as Wall Street was looking for $0.20 per share, per S&P Global Market Intelligence. Investors have been looking for signs that economic uncertainty is pushing companies to pull back their spending on technology and software. The company's operating loss fell to $11.6 million from $1.8 million a year ago, and the operating margin fell to negative 4% from 1% last year. Read more live coverage of corporate earnings here US gold futures fall as traders await clarification on tariffs US gold futures (GC=F) in New York fell 2% as traders waited for the White House to clarify its tariff policy. Last week, the US Customs and Border agency surprised the market by ruling that 100oz and 1kg gold bars would face tariffs. Bloomberg News reports: Read more here. US gold futures (GC=F) in New York fell 2% as traders waited for the White House to clarify its tariff policy. Last week, the US Customs and Border agency surprised the market by ruling that 100oz and 1kg gold bars would face tariffs. Bloomberg News reports: Read more here. Target still in the bear camp Good WSJ story this morning on Target (TGT) and its many challenges, one of them finding its next CEO. I wrote more on this a couple months ago. I would expect an abysmal quarter (another one) from Target when it reports second quarter earnings on August 20. The company is not only dealing with operational challenges, but it has totally lost the value perception battle with Walmart. I don't see these dynamics changing this year, and maybe not until deep into 2026 provided an outside CEO is brought in to run a full assessment of the business. Good WSJ story this morning on Target (TGT) and its many challenges, one of them finding its next CEO. I wrote more on this a couple months ago. I would expect an abysmal quarter (another one) from Target when it reports second quarter earnings on August 20. The company is not only dealing with operational challenges, but it has totally lost the value perception battle with Walmart. I don't see these dynamics changing this year, and maybe not until deep into 2026 provided an outside CEO is brought in to run a full assessment of the business. Bitcoin near a fresh record Bitcoin looks to be breaking out of its recent trading range, nearing a fresh record this morning. There doesn't appear to be a clear catalyst for the pop today, though this Sunday X post from bitcoin evangelist Michael Saylor may have stoked the bulls. It suggests he will continue to be a buyer of bitcoin — perhaps no surprise, but the crypto market likes to be coddled. "If you don't stop buying Bitcoin, you won't stop making Money," Saylor wrote. Bitcoin looks to be breaking out of its recent trading range, nearing a fresh record this morning. There doesn't appear to be a clear catalyst for the pop today, though this Sunday X post from bitcoin evangelist Michael Saylor may have stoked the bulls. It suggests he will continue to be a buyer of bitcoin — perhaps no surprise, but the crypto market likes to be coddled. "If you don't stop buying Bitcoin, you won't stop making Money," Saylor wrote. crashing Shares of (AI) are getting crushed pre-market to the tune of 30%. And the rout is 100% deserved. Late Friday the company said it sees preliminary first fiscal quarter revenue of $70.2 million to $70.4 million, about 33% below the mid-point of its prior guidance for $100 million to $109 million. Sales would be down 19% from the prior year. The adjusted operating loss will be $57.7 million to $59.9 million, roughly twice the $23.5 million to $33.5 million loss that it had expected. I don't think there is anything to read into the AI trade here — this seems very company-specific, and tied to a sales reorg. Shares of (AI) are getting crushed pre-market to the tune of 30%. And the rout is 100% deserved. Late Friday the company said it sees preliminary first fiscal quarter revenue of $70.2 million to $70.4 million, about 33% below the mid-point of its prior guidance for $100 million to $109 million. Sales would be down 19% from the prior year. The adjusted operating loss will be $57.7 million to $59.9 million, roughly twice the $23.5 million to $33.5 million loss that it had expected. I don't think there is anything to read into the AI trade here — this seems very company-specific, and tied to a sales reorg. Sign in to access your portfolio
