Stock Movers Closing Bell: Big Banks Soar, Zoom Rallies, Intuit Falls
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Aug 22, 2025 The podcast dives into the recent boost in US bank stocks following positive comments from the Fed chairman, with the KBW Bank Index hitting a record high. Zoom's shares jumped 13% after an impressive earnings forecast, indicating strong demand for its software products. In contrast, Intuit struggled as a lukewarm outlook overshadowed strong quarterly results. The discussion also covers the fluctuations in treasury yields and the potential implications of the Fed's signals on future market trends.
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Banks Rally On Rate-Cut Signal
- KBW Bank Index hit its first record close since 2022 after Powell signaled willingness to cut rates next month.
- Traders pushed interest-rate-sensitive bank stocks higher on rising labor-market risk signals from Jay Powell.
Government Stake Boosts Intel Stock
- Intel jumped after the White House said the company would give the U.S. government a 10% equity stake.
- The announcement framed as a move to revitalize Intel versus international competitors drove shares up roughly 5-6%.
Apple May Outsource Siri AI
- Apple shares rallied on reports it may use Google Gemini to power a revamped Siri.
- Outsourcing key AI tech to Google signals a pragmatic approach to improving Apple's voice assistant.