The meme stock craze hits Chewy and Petco, Chipotle's split, Janet Yellen on inflation: Markets news roundup

It could soon be easier to borrow against your home after U.S. regulators approved a Freddie Mac pilot program for purchasing second mortgages.

The plan, announced Friday, is meant to help homeowners who secured low-interest mortgages and want to access their home’s equity for a loan.

The Federal Housing Finance Agency (FHFA) said it granted “conditional approval” to the program. Under the pilot, Freddie Mac will have $2.5 billion cap on purchases over 18 months, with maximum loan amounts of $78,277.

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Treasury Secretary Janet Yellen thinks the Federal Reserve could hit its 2% inflation target in 2025, with a soft landing well in her sights.

Yellen told Yahoo Finance in an interview published Monday that she does “not see the basis” for a U.S. recession, pointing to the Fed’s caution around cutting interest rates too soon to avoid tipping the economy into the red as “the balancing act that they have.”

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Chipotle Mexican Grill is getting closer to its 50-for-1 stock split on Wednesday that will be one of the biggest in history for the New York Stock Exchange (NYSE).

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Trump Media & Technology Group stock climbed as much as 25% on Monday afternoon, erasing some of the stock’s recent losses as it prepares to pocket millions of dollars from the exercise of warrants.

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Roaring Kitty might be kicking off a new meme stock frenzy, trading video games for pet toys.

Keith Gill, meme stock ringleader better known by his social media persona Roaring Kitty, posted a cartoon photo of a dog on X on Thursday afternoon. Within minutes, shares of pet brands Chewy and Petco spiked.

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Donald Trump is the self-proclaimed “King of Debt.” That extended to the national debt during his time as president — and is poised to continue in a possible second term.

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Americans are storing away more than ever for retirement, but they’re fighting an uphill battle as a comfortable retirement seems further and further out of reach.

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The successful results of a heart drug’s late-stage clinical trial have prompted Alnylam Pharmaceuticals’ stock to jump 35%.

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Kevin Gordon, senior investment strategist with Charles Schwab & Co., breaks down how and why the market could turn south in the second half of the year

Kevin Gordon, senior investment strategist with Charles Schwab & Co., breaks down why money rotating out of big tech to value and cyclicals could be good news