Markets want and are ready for new stock issues, says Axios' Dan Primack
Dan Primack, Axios business editor, joins 'Power Lunch' to discuss the recent spate of IPOs and what to expect from companies nearing the public markets.
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Axios
9 hours ago
- Axios
House GOP to Senate: "Touch very lightly" on Trump budget bill
House Republican Conference Chair Lisa McClain has a stern warning for her Senate colleagues on the House-passed Trump budget bill: "Touch very lightly" and don't force a conference process. Why it matters: Senate Republicans are determined to put their mark on the "one big, beautiful bill." But the changes they're signaling would cross red lines for House GOP holdouts. "Change it 10%, but I think 30% is a lot," McClain (R-Mich.) told Axios in a wide-ranging interview on Wednesday. McClain was responding to Sen. Ted Cruz (R-Texas), who on Wednesday talked about preserving just 60% or 70% of the House-passed legislative text. "I realize the Senate has to put their fingerprints on it," McClain told Axios. "Touch very lightly." Driving the news: Senate Finance Chair Mike Crapo (R-Idaho) laid out the changes he plans to make to his portion of the bill to fellow senators on Wednesday. Atop his list: Bring the SALT cap down, and make the business tax cuts permanent. They're also looking at changes to renewable energy tax credits and the number on border security. If the Senate makes substantial changes, Speaker Mike Johnson (R-La.) and Majority Leader John Thune (R-S.D.) will be forced to go to conference and hammer out the differences in July, with the threat of a debt default hanging over negotiations. "I really don't think there's a huge appetite to go to conference because of the timing," McClain said. Zoom out:"I happen to believe them when they say that," McClain told Axios about blue state Republicans threatening to crash the entire bill if the $40,000 SALT deduction cap is lowered. The big picture: House lawmakers want to move on a $9.4 billion rescissions package on Thursday. "If we can't pass this rescission package, we are really in trouble," she said. "I think we're going to pass it," she said, saying she expected more rescissions requests throughout the year. Go deeper: As conference chair, McClain is working to elevate her members and often does joint media appearances with them.
Yahoo
13 hours ago
- Yahoo
Trump Was Secretly ‘Hurt' by Musk's Savage Attacks
President Donald Trump was left emotional after his 'first buddy,' Tesla CEO Elon Musk, engaged in a bitter online feud with him last week, an insider revealed. 'The president was actually hurt,' a Trump confidant who spoke with him about their spat told Axios. 'Yes, he has feelings, and he was hurt the way anyone would be when a friend turns on them.' In public, Trump appears to be projecting a defiant front amid the feud. He signaled Saturday that his relationship with Musk was finished and that he had no intention of patching things up. The president's epic falling out with Musk was sparked by a fiery clash over Trump's 'One Big Beautiful Bill Act.' Musk blasted the proposed spending package as fiscally reckless and a 'disgusting abomination' that would sabotage his work with the Department of Government Efficiency (DOGE) by adding trillions to the deficit. He even went as far as to post a bombshell claim on X that Trump is named in the so-called 'Epstein files.' But after the explosive allegations, Musk made a groveling U-turn on Wednesday morning. 'I regret some of my posts about President @realDonaldTrump last week. They went too far,' he wrote. The Daily Beast has reached out to the White House for comment. Meanwhile, White House insiders told Axios that Trump's response to the Los Angeles protests against actions by U.S. Immigration and Customs Enforcement (ICE) have helped Trump bounce back from the Musk meltdown. 'But that's gone now. L.A. wiped away the Elon drama,' the source said. 'What's driving the president is how the riots of 2020 are seared into his brain, and how he wished he could've sent in the troops to end it.' Musk, who had once enjoyed a cozy relationship with Trump as he headed DOGE, has been doing damage control amid the protests, resharing Trump's Truth Social posts about the riots and posts by Vice President JD Vance, likely in a bid to show some solidarity with the president. Trump unleashed his presidential powers in a dramatic showdown with California Gov. Gavin Newsom over the weekend, moving to federalize the state's National Guard in a rare and controversial move. Protests erupted in downtown Los Angeles amid reports that detainees were being held in the basement of a federal building. ICE has denied these claims. A spokeswoman for the U.S. Northern Command told The New York Times that some 700 Marines are expected to be deployed to the streets of Los Angeles on Wednesday, joining National Guard troops already on the ground.
CNBC
13 hours ago
- CNBC
Three Stock Lunch: Dave & Buster's, Amazon and the Quantum space
Michael Farr, Farr, Miller and Washington CEO, joins 'Power Lunch' to discuss Farr's investing take on three stocks: Dave & Buster's, Amazon and the Quantum space.
