Trump weighing Janet Yellen or Gary Cohn for Fed chair
President Trump disclosed in a Wall Street Journal interview that he may renominate Janet Yellen for a second term or appoint Gary Cohn to lead the Federal Reserve. He cited respect for Yellen and noted Cohn would be the first business executive to head the Fed in 38 years.
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Chipotle outbreaks fuel sabotage speculation and stock moves
The Chipotle illness outbreaks sparked broad talk of corporate sabotage as hedge funds and online posts suggest profit from misfortune. Analysts cite prior cases like Wendy’s and Tylenol, with Chipotle short-sellers profiting, while officials warn against unproven theories and emphasize safety data.
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VW executive to plead guilty in emissions case
Oliver Schmidt a German national and former top U S emissions compliance manager for Volkswagen faces a plea in the Detroit case. Prosecutors said he will plead guilty with a hearing set for August 4, part of the VW diesel emissions scandal that prompted civil settlements around 17 billion for U S consumers and dealers and criminal costs of about 4 3 billion.
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Stocks hit new records on gains across indices
U.S. stock indices climbed to records as strong corporate results from McDonald’s and Caterpillar supported gains. Oil and metal prices rose, boosting energy and material stocks while health care and high-dividend shares lagged amid rising Treasury yields. S and P 500 rose 0.3 percent to 2477.08, Dow up 0.5 percent to 21613.43, Nasdaq barely changed. energy sector led gains with crude near 48 and Brent above 50.
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