‘White House Stock Guru’ Hypes Stocks Again: Trump Says Fannie Mae and Freddie Mac Could Reach $1 Trillion in Market Value

At the open of U.S. stock trading on Friday, Fannie Mae rose as much as 10.4% and Freddie Mac gained up to 9.7%, but both stocks subsequently retreated sharply, closing down 0.74% and 1.16%, respectively. Earlier, market favorites such as Intel, Micron, and Dell saw significant gains, all of which were linked to Trump’s holdings or public statements, drawing intense market attention to Trump’s remarks.

wallstreetcnJun 6 06:46

Trump said he is in no rush to move forward with IPOs for Fannie Mae and Freddie Mac.

U.S. President Trump stated that although Federal Housing Finance Agency Director Bill Pulte will concurrently serve as Acting Director of National Intelligence, the IPO plans for Fannie Mae and Freddie Mac have not been ruled out. Speaking to reporters aboard Air Force One, Trump said, 'We are considering an IPO, but we’re in no rush.'

Global Markets UpdateJun 6 02:38

Midday Need to Know: Labor Market Surges, Mortgage Giants' Stocks Rise & More

Seeking AlphaJun 6 00:29

Trump: Purt will not be formally appointed as Director of National Intelligence

William Pulte, Director of the Federal Housing Finance Agency, was named Acting Director of National Intelligence by President Trump on Thursday, though Trump stated that Pulte would not be appointed as the permanent Director of National Intelligence. Two days earlier, Trump had appointed Pulte—then serving as head of the Federal Housing Finance Agency—as Acting Director of National Intelligence to replace outgoing Director Tulsi Gabbard. The appointment drew criticism from multiple members of Congress, who accused Pulte of lacking experience in intelligence work and of having long served as a political operative for Trump attacking his opponents. When asked at the White House on Thursday why he had chosen Pulte for the role, Trump told reporters: “This appointment is only temporary—he will not be made permanent. Ultimately, I don’t even think he himself wants the position.”

Global Markets BulletinJun 5 06:06

Express News | Freddie Mac Shares Last up 6.5% on Pink Sheets, Fannie Mae up 6.3%; Trump Says Fannie Mae, Freddie Mac Probably Worth $1 Trln

BreakingsJun 5 04:06

Mortgage Rates Fall on Prospect of Easing Energy Prices; Home Delistings Hit Six-year High

Seeking AlphaJun 5 00:30