Latest news with #Senate
Time of India
32 minutes ago
- Politics
- Time of India
Is Kristi Noem losing her job? Democrats regret confirming her amid immigration crackdown storm
Senate Democrats are turning on Homeland Security Secretary Kristi Noem amid growing backlash over immigration raids, Alex Padilla's removal, and DHS overreach. Once confirmed with bipartisan support, Noem now faces calls to testify over Trump's mass deportation push, masked arrests, and legal violations. As Trump's second term ramps up, is Noem's job on the line? Watch the full breakdown. Show more Show less
Yahoo
an hour ago
- Business
- Yahoo
Watch These Coinbase Price Levels as Stock Soars on Stablecoin Optimism
Coinbase shares soared after the Senate passed the GENIUS Act, a bipartisan bill that regulates and promotes the use of stablecoins. After bottoming out in early April, Coinbase shares trended higher before consolidating within a flag, a chart pattern that indicates a continuation of the stock's uptrend. Investors should watch crucial overhead areas on the Coinbase chart around $330 and $450, while also monitoring support levels near $265 and $ Global (COIN) shares soared this week after the Senate passed the GENIUS Act, a bipartisan bill that regulates and promotes the use of stablecoins. Investors see the legislation, the first major framework approved by Congress dealing with the digital currency industry, as a win for Coinbase as it provides regulatory clarify, legitimizing the exchange's stablecoin business and revenue streams. On Wednesday, the company unveiled a new product named Coinbase Payments, a solution that allows customers to make payments using stablecoins on a range of commerce platforms. Coinbase shares soared 16% to around $295 on Wednesday, ahead of Thursday's U.S. markets holiday. The stock is now up 19% since the start of 2025, handily outpacing the roughly 2% gain of the S&P 500 over the period. Below, we take a closer look at the Coinbase chart and use technical analysis to identify price levels that investors will likely be watching. After bottoming out in early April amid a broader stock market sell-off, Coinbase shares trended higher before consolidating within a flag, a chart pattern that indicates a continuation of the stock's uptrend. Indeed, the price staged a decisive breakout from the pennant in Wednesday's trading session, a move that coincided with a sharp uptick in the relative strength index to signal accelerating momentum. Moreover, the jump occurred on the highest volume in over a month, suggesting strong buying conviction. In another win for the bulls, the 50-day moving average (MA) continues to converge toward the 200-day MA, setting the stage for a bullish "golden cross" signal. Let's identify two crucial overhead areas on the Coinbase chart to and also locate support levels worth monitoring. The first overhead area to watch sits around $330. This location on the chart may provide resistance near last November's twin peaks that formed just below the stock's early-December high. A decisive close above this area could see the shares trend higher toward $450. We projected this area using the bars pattern tool. When applying the technique to Coinbase's chart, we take the price bars comprising the uptrend that preceded the flag and overlay them from the pattern's breakout point. This projects a target of $450 and indicates the move higher may play out until early August if price action rhymes. During retracements in the stock, it's initially worth monitoring the $265 level. A pullback to this area would likely attract support neat the breakout area, which also closely aligns with last year's prominent June and July peaks. Finally, a more significant drop opens the door to a retest of lower support around $212. Investors may look to accumulate Coinbase shares in this region near a multi-month horizontal line that connects a series of trading activity on the chart stretching from February last year to May this year. The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info. As of the date this article was written, the author does not own any of the above securities. Read the original article on Investopedia 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
Yahoo
2 hours ago
- Politics
- Yahoo
Hegseth caught in heated exchanges during Senate testimony
Defense Secretary Pete Hegseth faced tense questioning during testimony before the Senate Armed Services Committee. CBS News congressional correspondent Nikole Killion has more.
Yahoo
2 hours ago
- Business
- Yahoo
Solar stocks, Eli Lilly & Verve, PureCycle: Trending Tickers
Enphase (ENPH), SolarEdge (SEDG), First Solar (FSLR), Sunrun (RUN), Plug Power (PLUG), and Array Technologies (ARRY) plunge after the Senate revealed its revisions to President Trump's tax bill, which included cuts to solar and wind energy tax credits. Eli Lilly (LLY) is set to acquire Verve Therapeutics (VERV), sending Verve's stock skyrocketing. PureCycle Technologies (PCT) stock surges on the company's plans to grow its plastic recycling capacity to 1 billion pounds by 2030. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. Now time for some of today's trending tickers. We're watching solar stocks, Eli Lilly and Verve therapeutics, and PureCycle. Let's start with solar stocks. They are dropping again. This is after the Senate unveiled its revisions to Trump's tax bill. The adjusted copy of the bill ending solar and wind energy tax credits facing those incentives out four years earlier than originally intended from 2032 to 2028. This comes at a time when solar energy is seeing less demand, especially with California slashing credits for excess power. And what's interesting is, you know, there was also a pretty strict phase out in the house version of the bill, but there had been some hopes and intensive lobbying happening on the part of those in the industry that there would be more favorable conditions in this Senate version. Lo and behold, Josh, those favorable conditions are not to be found. Yeah. Now lawmakers could still make changes. I mean, the Senate's trying to, you know, pass and send this bill back to the house by by July 4th. We'll see what what happens. But reports do note the odds appear to be fading that lawmakers intend to make changes to preserve credits for residential solar companies. I do see Guggenheim analysts cited saying hoping for a fix continues to be naive, they said. Uh the Senate bill though would rescue a tax credit for nuclear power. So that's news. Yes. At least for now. It gets a later phase out. I mean, we're looking at Plug Power on there as well, hydrogen producer. And the Senate version of the bill gets rid of an incentive that provides um that provides for hydrogen production specifically. I mean, the concern with many of these companies, Plug Power included, is that they will not be able to continue, perhaps even as a going concern, might not be able to continue in business um for some of these companies if they don't have these incentives. Plug Power has come out with some um there has been some talk about Plug Power in that category, but certainly it's going to be a big hit to these companies if it goes through. Also we're expecting a run down 40% there. Uh we are also watching Verve Therapeutics shares. They're soaring after the announcement that Eli Lilly will be buying that gene editing company for up to $1.3 billion. So that was the news. Lily making moves, Bloomberg reminding us, they've been on the hunt. In January, they agreed to pay as much as $2.5 billion for a cancer drug being tested by Scorpion therapeutics. In May, they announced the plan to buy Site One therapeutics for as much as $1 billion. Lily had been collaborating with Verve on its experimental gene editing program for reducing lipoprotein A with this now, of course, Lily would have full control. Yeah. And a couple things to mention here. Why is Lily being so acquisitive? I mean, they got Zepbound, which is a blockbuster. Well, like any big drug company, eventually it's going to lose patent protection for in the case of Zepbound, doesn't happen for a decade. But they're trying to look ahead at these experimental therapies. Secondly, as you mentioned, the specific product that Verve is working on is a cholesterol drug effectively, you know, aiming at improving cardiac health by targeting cholesterol. Um our friend Evan Seegerman over at BMO said that there's already a lot of cholesterol treatments out there. So he was more skeptical about the deal, but other analysts say that this does fit well into the Lily portfolio. So there's a little bit of debate here about whether it's a good deal for Lily, but the shares are down a little bit today. All right. We should get Evan on explaining that thesis. We should. Finally, PureCycle Technologies is reporting that it plans to grow its plastic recycling capacity to 8 billion pounds before 2030. The company designing new solutions to recycling plastics also announcing its executed binding agreements for a $300 million capital raise. The company's projecting Eda of $600 million by that 2030 deadline. This has been an interesting stock. Yeah. Uh it despacked back in 2021. Um and it's also more than doubled over this past year, although it's down from the highs where it was. The cycling tech, surely. Yes, exactly. Yeah. The CEO saying time for growth is now, apparently noting production progress, the Ironton facility, talked about momentum in commercialization efforts, confidence in financing efforts. A couple other things to mention about this one. Uh when it did first despack and it spiked, after that it was accused by investors of misleading them about its technology. The CEO ended up being subpoenad by the SEC in 2021. It was there was a lot of short interest at the time, and I just checked, 30% of the flow of this company is still shorted. So there still appears to be a lot of. And not a ton of coverage on the street. Three buys, two sells. There you go.
Yahoo
2 hours ago
- Business
- Yahoo
How Trump's budget bill will impact student loans: What to know
US President Trump's "big, beautiful bill," which is currently being considered by the Senate after passing the House, will change the rules for current students relying on federal loans and grants as well as borrowers working to pay down their debt. Author and student loan expert Mark Kantrowitz joins Wealth to outline these changes and what student loan borrowers need to know. To watch more expert insights and analysis on the latest market action, check out more Wealth here. All week, we're giving you everything that you need to know about paying back your student loans. Today, we're breaking down all the latest policy changes under the Trump administration. Joining us now for that, we've got Mark Kantrowitz, author and student loan expert. Mark, let's start with some of the proposals in the Republican budget bill. What changes could come for borrowers if it is passed as is? Well, first of all, it repeals the subsidized Stafford Loan for undergraduate students and the Grad Plus loans for graduate students. It sets the House version of the bill sets new aggregate loan limits of $50,000 for undergraduate students, $100,000 for graduate students, and $150,000 for professional school students. The Senate version of the bill, which just dropped this morning, uh has $200,000 limit for professional school students. And it has an annual limit for the undergraduate students of for the Grad Stafford Loan of $20,500 and $50,000 for professional school students. Uh, it gets rid of uh the economic hardship deferment and unemployment deferment, and changes forbearance to nine months out of every 24 months. Uh, and it's replaces the dozen or so, uh student loan repayment plans with just two. A standard repayment plan which is more like an extended repayment plan, the repayment term depends on the amount you owe. Uh, and an income-based repayment assistance plan, which is an income-driven repayment plan that uh has monthly payments that are slightly less than the current income based repayment, but much higher than under the save repayment plan which has been blocked by the courts. And so as we're trying to think about some of the largest changes for, for what this means long, what this means longer term, are students going to end up having a more difficult time getting student loans, not just applied for, but also getting those disbursements as well. What, what's the net effect? Well, the net effect is that uh, students at higher cost colleges that need to borrow more are going to have to borrow from the private student loan programs, uh, not just from the federal student loan programs. So, about 7% of undergraduate students, up to a little bit more than half of medical school students will have to borrow private loans because federal loan limits will not be enough. Um, the grants are also going down, which may shift uh, some students from getting grants into borrowing or not going to college at all. The House bill uh, eliminates Pell Grant eligibility for students who are enrolled less than halftime. Um, and that's going to disproportionately affect students at community colleges. It also changes the definition of full-time from 12 credits a semester to 15 credits a semester, which is the equivalent of about a 20% cut in the Pell grants that the students who were previously enrolled in 12 credits will receive. That means they're going to have to borrow, or not go to college at all. 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
