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Nasdaq Composite Climbs to a New Record High as Tech Stocks Rally Sharply After Late-June Chip Sell-Off

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The tech sector led record gains in the S&P 500 index. Pictured: a man with umbrella walks past the New York Stock Exchange.

NEW YORK — The Nasdaq Composite closed at a record high Monday, ending the session at 26,018.82, up 186.15 points, or 0.72 percent, as technology stocks extended a sharp rebound following a bout of heavy selling in semiconductor shares in the final days of June.

Monday’s gains came as investors returned from the extended Independence Day holiday weekend with renewed appetite for artificial intelligence-related stocks, a reversal from the volatility that had gripped the sector just days earlier. Futures on the tech-heavy Nasdaq 100 had climbed as much as 1 percent ahead of Monday’s opening bell, according to data from Yahoo Finance, setting the stage for the index’s strong close.

The rally in tech shares followed a difficult stretch in late June, when concerns over stretched valuations tied to the artificial intelligence trade sent chipmakers sharply lower across multiple sessions. Semiconductor names including Micron Technology, Advanced Micro Devices and Intel each posted steep single-day declines during that period, with Micron falling as much as 7 percent, Applied Materials and Marvell both dropping around 10 percent, and SanDisk tumbling 13 percent in a single trading session, according to data from Trading Economics. The selling reflected broader investor unease over whether AI-linked valuations had climbed too far relative to near-term earnings potential.

Sentiment shifted heading into Monday’s session after Taiwan-based Hon Hai Precision Industry, the Nvidia supplier better known as Foxconn, reported stronger-than-expected quarterly sales over the weekend, a signal that demand tied to AI infrastructure buildouts remains robust. That report appeared to help ease some of the concerns that had weighed on chip stocks in the prior weeks, contributing to the broader tech-sector rebound that lifted the Nasdaq to its record close.

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Attention is now shifting to a pair of major developments from South Korea’s memory chip industry set to unfold later this week. Samsung Electronics is scheduled to report preliminary second-quarter 2026 earnings Tuesday, with expectations pointing to profit growth of roughly 18 times year-over-year, a figure that would surpass the company’s total earnings for all of 2025, according to reporting from Yahoo Finance. Samsung shares have surged 165 percent so far this year heading into the report. Later in the week, rival SK Hynix is expected to complete a U.S. stock market listing valued at roughly $28 billion to $29 billion, a move Bloomberg reported could strengthen the company’s position in the global memory chip market that underpins much of the current AI computing boom.

Elon Musk’s SpaceX is also drawing attention this week, with the company set to officially join the Nasdaq-100 index before trading begins Tuesday, following its public listing on June 12. The Nasdaq-100, while heavily weighted toward technology, also includes major companies across healthcare, retail and biotechnology sectors. The Roundhill Magnificent Seven ETF, which offers equal-weighted exposure to Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia and Tesla, gained 0.54 percent in premarket trading Monday, underscoring renewed optimism around the group of large-cap technology names that have driven a significant share of the market’s gains over the past several years.

Tesla shares also advanced Monday after the company announced its robotaxi service had become available in Miami, extending the rollout of its autonomous ride-hailing operations to a new market. The news offered a bright spot for the stock following a rough prior week, during which shares fell more than 7 percent despite the company reporting vehicle delivery figures for the second quarter that easily surpassed analyst estimates.

Monday’s tech-driven gains came against the backdrop of a broader market that has continued climbing to fresh records in recent sessions, even as some corners of the technology sector experienced turbulence. The Dow Jones Industrial Average closed at a record high last Thursday, the final trading session before markets were closed Friday for the Independence Day holiday, and extended that record-setting run into the new trading week. For the holiday-shortened week ending Thursday, the Nasdaq Composite gained 2.1 percent, while the S&P 500 rose 1.8 percent and the Dow added 2 percent, according to data from Trading Economics, capping what the firm’s data showed was Wall Street’s best quarterly performance since 2020.

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Economic data released last week also played a role in shaping market sentiment heading into the new week. The Department of Labor reported that nonfarm payrolls increased by just 57,000 in June, well below the consensus estimate of 117,000, while the unemployment rate declined to 4.2 percent from 4.3 percent the previous month, a drop driven in part by a decline in labor force participation to 61.5 percent, its lowest level since March 2021. Federal Reserve Chairman Kevin Warsh urged investors last week to look to incoming economic data, rather than to the central bank itself, for signals on the future direction of interest rates, a comment that came as markets weighed the softer-than-expected jobs figures against the market’s continued record-setting momentum.

Other notable developments last week included reports that OpenAI was in discussions to sell a 5 percent stake to the U.S. government, along with news that Meta Platforms was exploring options to monetize excess computing capacity built up as part of its aggressive investment in AI infrastructure. Meta shares fell nearly 5 percent following that report, reflecting investor scrutiny over whether the company’s substantial capital spending on AI has outpaced near-term demand for that capacity.

Overseas markets presented a more mixed picture to start the week. Europe’s Stoxx 600 index slipped 0.4 percent after touching a record high in the prior session, while markets across Asia showed choppier trading as investors positioned ahead of this week’s closely watched earnings from Samsung and the pending SK Hynix listing.

Looking ahead, strategists at JPMorgan have said they expect the broader artificial intelligence investment cycle to continue supporting U.S. equity markets through the remainder of the year, having recently raised their year-end target for the S&P 500 amid sustained strength in the technology sector. With Samsung’s earnings report and the SK Hynix listing both set to unfold in the coming days, investors will be watching closely for further signals on whether the renewed momentum in chip and technology stocks that lifted the Nasdaq to Monday’s record close can be sustained through the remainder of the summer trading season.

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Form 4 Kinder Morgan Inc For: 6 July

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Check your freezer: Publix recalls frozen blueberries sold in 8 states

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Check your freezer: Publix recalls frozen blueberries sold in 8 states

Consumers who shop at Publix are being urged to check their freezers after one lot of GreenWise Organic IQF Blueberries was voluntarily recalled over concerns it may be contaminated with E. coli.

Chile-based supplier Frutas y Hortalizas del Sur S.A. announced the recall on July 3 after receiving reports of illnesses among consumers who had eaten the product, according to a recall notice posted by Publix.

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The recalled blueberries were distributed to Publix stores in Alabama, Florida, Georgia, Kentucky, North Carolina, South Carolina, Tennessee and Virginia.

FDA UPGRADES POPULAR POTATO CHIP RECALL TO HIGHEST RISK OVER SALMONELLA

BLUEBERRIES

Chile-based supplier Frutas y Hortalizas del Sur S.A. announced the recall on July 3 after receiving reports of illnesses among consumers who had eaten the product, according to a recall notice posted by Publix. (Getty Images)

The recall applies only to 10-ounce GreenWise Organic IQF Blueberries with lot code 60401 and a best-by date of Feb. 9, 2028. No other lot codes or best-by dates are included in the recall.

Blueberries

The recall applies only to 10-ounce GreenWise Organic IQF Blueberries with lot code 60401 and a best-by date of Feb. 9, 2028. (Stefan Sauer/picture alliance via Getty Images)

According to the recall notice, there have been reports of 12 confirmed illnesses associated with E. coli O145:H28 infections reported between May 11 and June 5.

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E. coli O145 is a Shiga toxin-producing strain of the bacteria that can cause severe stomach cramps, diarrhea that may be bloody and vomiting. While most healthy people recover within about a week, infections can lead to a serious complication known as hemolytic uremic syndrome, particularly in young children, older adults and people with weakened immune systems.

Blueberries

Blueberries grow on a bush in the fields of Agrargesellschaft Chemnitz mbH in Rottmanshagen. (Stefan Sauer/picture alliance via Getty Images)

Consumers who have the affected blueberries should not eat them and should either discard the product or return it to the place of purchase for a full refund, according to the recall notice.

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Frutas y Hortalizas del Sur S.A. said it has instructed customers who received the affected lot to remove it from distribution while it works with regulators and retail partners. The company said it is investigating the source of the potential contamination and will provide additional information as it becomes available.

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No Winner in July 4 Powerball Drawing as $402 Million Jackpot Climbs to $416 Million for Monday’s Drawing

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Jordan Peterson

LANSING, Mich. — No one matched all six numbers in Saturday’s Powerball drawing, allowing the jackpot to roll over and grow to an estimated $416 million ahead of Monday night’s drawing, according to lottery officials.

The winning numbers drawn Saturday, July 4, were 17, 38, 46, 50 and 69, with a Powerball number of 20 and a Power Play multiplier of 2. No ticket matched all five white balls plus the red Powerball, meaning the jackpot, which had stood at an estimated $402 million heading into the drawing, will carry over to Monday’s drawing with an estimated value of $416 million, or a lump-sum cash option of $186.6 million.

While no one claimed the top prize, the drawing was not without significant winners. No player matched all five white balls, which would have secured a $1 million prize, but seven players matched four white balls plus the Powerball while also participating in the optional Power Play add-on, each winning $100,000, the largest individual prize awarded in Saturday’s drawing.

In total, 626,323 players across the country won at least $4 in the July 4 drawing, with combined prize payouts exceeding $4.6 million, according to figures released by lottery officials. The results reflect the wide range of smaller prize tiers built into the Powerball game, which rewards players for matching as few as the Powerball number alone or a single white ball plus the Powerball.

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Powerball’s jackpot was last won on May 2, 2026, when the $20 million prize was split between two winning tickets, one sold in Florida and the other in Texas. Since that win, the jackpot has been steadily climbing across successive drawings without a winner, building toward the $416 million prize now on offer for Monday night’s drawing.

Powerball is played in 45 states, along with Washington, D.C., Puerto Rico and the U.S. Virgin Islands. Tickets cost $2 each, and players select five white ball numbers ranging from 1 to 69, along with one red Powerball number ranging from 1 to 26. Players can also opt to pay an additional $1 per ticket for the Power Play feature, which multiplies non-jackpot winnings by a randomly selected factor, in this case 2, for Saturday’s drawing.

Michigan has a notable recent history with the nation’s major lottery jackpots. The last Michigan players to win a Mega Millions or Powerball jackpot were members of the so-called Breakfast Club lottery pool, who claimed an $842 million Mega Millions jackpot in June 2024, the largest prize ever won by a Michigan ticket holder in either game. Members of that group have said they intend to use part of their winnings to purchase a home in Florida and to travel.

Lottery officials have also used past cases to remind players of the importance of checking tickets promptly after a drawing. A Powerball ticket worth $250,000 sold in Bloomfield Hills, Michigan, in 2024 went unclaimed after the deadline for prize redemption passed, sending the money instead to the state’s School Aid Fund rather than to a winning ticket holder. State lottery rules generally set firm deadlines for claiming prizes, after which unclaimed winnings are redirected to state education or public funds depending on the jurisdiction in which the ticket was purchased.

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Powerball drawings are held three times a week, on Mondays, Wednesdays and Saturdays, giving players regular opportunities to try for the jackpot as it continues to grow between wins. Jackpots begin at a guaranteed minimum and increase based on ticket sales and the number of consecutive drawings that pass without a grand prize winner, a dynamic that has pushed Monday’s prize to its current estimated $416 million value following Saturday’s rollover.

The odds of winning the Powerball jackpot remain long, standing at approximately 1 in 292.2 million for any individual ticket, according to the game’s official odds chart. Odds for smaller prize tiers are considerably more favorable, ranging from roughly 1 in 38 for matching only the Powerball number to 1 in 913,129 for matching all five white balls without the Powerball, the tier that would have resulted in a $1 million prize had any ticket in Saturday’s drawing achieved that combination.

Powerball operates alongside Mega Millions as one of the two major multistate lottery games played across most of the country. Mega Millions’ most recent jackpot, drawn July 3, was valued at $542 million, reflecting a similarly active stretch for both major lottery games as jackpots in each have continued to build in recent weeks without a grand prize winner.

Players interested in participating in Monday’s Powerball drawing can purchase tickets through authorized retailers in any of the states or territories where the game is offered, with sales typically cutting off shortly before each scheduled drawing time. Ticket buyers are encouraged to check the official Powerball website or their state lottery’s official platform for exact cutoff times, as these can vary slightly by jurisdiction.

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For Michigan players specifically, additional information on ticket sales, past winning numbers and other lottery games, including instant tickets and raffles, is available through the Michigan Lottery’s official website. Lottery officials in Michigan and other participating states continue to encourage players to sign and safeguard their tickets immediately after purchase, given that unsigned or lost tickets can complicate the prize claims process, particularly for larger winnings that require in-person verification at state lottery offices.

With no jackpot winner from Saturday’s drawing, attention now turns to Monday night, when Powerball players across the country will have another opportunity to claim the growing prize, now standing at an estimated $416 million with a cash option of $186.6 million, before the numbers are drawn and the cycle either resets with a new winner or continues to climb toward the next drawing later in the week.

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Oribe shampoo recalled over possible bacteria contamination

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Oribe shampoo recalled over possible bacteria contamination

A luxury shampoo is being recalled nationwide due to concerns the product may be contaminated with bacteria, according to the Food and Drug Administration.

Kao USA Inc. is voluntarily recalling select lots of Oribe Serene Scalp Densifying Shampoo in the U.S. and Canada after Pluralibacter gergoviae bacteria was found during testing.

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The company said Oribe Serene Scalp Densifying Shampoo in 8.5-ounce and 33.8-ounce sizes that were manufactured between Feb. 21, 2026 and Feb. 26, 2026 could be impacted.

FDA UPGRADES POPULAR POTATO CHIP RECALL TO HIGHEST RISK OVER SALMONELLA

A woman shampoos her hair.

A woman shampooing her hair in the shower. (Getty Images)

FRUIT SOLD AT MAJOR GROCERY CHAIN RECALLED AFTER 12 SICKENED WITH E. COLI

The 8.5-ounce bottle costs $52, according to the Oribe website.

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AFFECTED PRODUCTS

  • Oribe Serene Scalp Densifying Shampoo 8.5-ounce bottle (UPC 840035231242), lot code YR010556
  • Oribe Serene Scalp Densifying Shampoo 33.8-ounce bottle (UPC 840035231273), lot codes YR010566 and YR010576

Affected lot codes are found on the bottom of the bottle printed in black.

The FDA said Pluralibacter gergoviae bacteria pose “little medical risk” to healthy people, but “those with certain health issues such as weakened immune systems may be more susceptible to infection by the bacteria.”

A woman in a store.

The 8.5-ounce bottle costs $52, according to the Oribe website. (Getty Images)

CHICKEN CAESAR WRAPS SOLD IN 2 STATES MAY CONTAIN DEADLY LISTERIA, USDA WARNS

“We are working with the FDA to voluntarily recall the affected lots of the product in question from our warehouses,” Kao USA said in a statement. “We are also asking retail and salon partners to remove affected lots from use and/or sale and return them to us for safe disposal.”

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FDA HQ sign in Maryland

The FDA said Pluralibacter gergoviae bacteria pose “little medical risk” to healthy people. (Sarah Silbiger/Getty Images)

Anyone who has the affected products should stop using them, Kao USA said in the recall announcement.

The company said consumers can contact the Kao Professional Hair Technical Hotline by phone or email to arrange for a replacement or to report adverse events experienced when using the product.

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Reddit: Primed To Go, As Tired Investors Give Up, Fundamentals Take Over (NYSE:RDDT)

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Reddit: Primed To Go, As Tired Investors Give Up, Fundamentals Take Over (NYSE:RDDT)

This article was written by

Michael Wiggins De Oliveira is an Inflection investor. As an Inflection investor, I believe that simplicity is key to outperformance. Since 2024, Deep Value Returns is up 220% vs 75% for the Nasdaq (*as of 2 July 2026).This means buying a stock at the moment when the outlook is expected to improve over the next year. This allows one to minimize the downside, while positioning yourself at the moment when the stock is primed to perform strongly.With a focus on tech and “the Great Energy Transition (including uranium)”, Michael runs a concentrated portfolio with approximately 15 to 20 stocks and an average holding period of 18 months. Through his 10+ years analyzing countless companies, Michael has accumulated outstanding professional experience in tech and energy and a following of over 40K on Seeking Alpha.Michael is the leader of the Investing Group Deep Value Returns.Features of the group include: Insights through his concentrated portfolio of Inflection stocks, timely updates on stock picks, and “hand-holding” as-needed for new and experienced investors alike. Deep Value Returns also has an active, vibrant, and kind community easily accessible via chat. Learn more

Analyst’s Disclosure: I/we have a beneficial long position in the shares of RDDT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Billionaire’s philanthropy helped hire Pochettino as US men’s soccer coach

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Billionaire's philanthropy helped hire Pochettino as US men's soccer coach

A billionaire’s contribution helped the U.S. men’s national team secure the services of Mauricio Pochettino as the team’s head coach two years ago, as the squad now looks to progress into the World Cup quarterfinals as one of the competition’s host nations.

Citadel founder and CEO Ken Griffin provided the largest philanthropic contribution as a group of benefactors worked to bring Pochettino, an Argentine who previously served as the manager of several of the world’s most prominent club soccer teams, including Tottenham, Paris Saint-Germain and Chelsea.

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Pochettino’s base salary is a little over $6 million after calculating an annualized pay rate based on figures from the U.S. Soccer Federation’s most recent tax filings, which represented a significant boost from his predecessor’s salary.

“Mauricio has a well-deserved reputation for excellence, high standards, and bringing out the best in the teams he leads,” Griffin recently told The Wall Street Journal. “Those are timeless qualities I admire, and they are exactly what U.S. Soccer needed at this moment.”

SOURCES: MAURICIO POCHETTINO OFFERED USA EXTENSION THROUGH 2030 WORLD CUP

Mauricio Pochettino talks to Folarin Balogun and Weston McKennie

U.S. head coach Mauricio Pochettino speaks with Folarin Balogun and Weston McKennie during the FIFA World Cup 2026 round of 32 match between the USA and Bosnia and Herzegovina in Santa Clara, California. (John Dorton/USSF/Getty Images)

Securing Pochettino as the head coach of the U.S. men’s national team in 2024 helped set the stage for the team’s success at World Cup 2026, which the U.S. is hosting along with Canada and Mexico.

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The U.S. defeated Paraguay 4-1 in its opening group stage match and then clinched the top spot in the group with a 2-0 win over Australia, advancing into the competition’s knockout stage despite a 3-2 loss to Turkey in the final match of the group stage.

Team USA followed that up with a 2-0 win over Bosnia and Herzegovina in the round of 32, despite a controversial red card issued to striker Folarin Balogun that was subsequently suspended by FIFA, allowing him to avoid a one-match ban.

THE PASSION FOR POCHETTINO IS ON FULL DISPLAY

A general view host venue, MetLife Stadium

The final of World Cup 2026 will be held at MetLife Stadium in East Rutherford, New Jersey. (Marc Atkins/Getty Images)

That set the stage for Team USA’s round of 16 matchup with Belgium, which will be played Monday night in Seattle.

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A win to advance into the quarterfinals would mark the deepest World Cup run for Team USA since 2002, and Pochettino’s leadership has instilled a “why not us?” mentality in the team that helped spur the results to put the team on the brink of a historic result on its home soil.

Griffin’s interest in supporting the team developed out of a lifelong love of the sport, as he grew up a soccer fan and played the sport in high school and college.

WORLD CUP TICKETS HIT EYE-POPPING HIGHS, OUTPRICING MORTGAGE PAYMENTS IN 5 US CITIES: REPORT

Citadel CEO Ken Griffin

Citadel CEO Ken Griffin was recognized as the U.S. Soccer Federation’s most impactful philanthropist with the group’s #10 Award. (Kayla Bartkowski/Getty Images)

He has also coached his children’s soccer teams, and has made donations through a philanthropic organization called Griffin Catalyst.

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Griffin donated $3 million in 2017 to fund 50 mini-pitches in Chicago and $5 million in 2023 to build another 50 mini-pitches in Miami-Dade County to expand access to safe soccer fields in underserved communities.

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Earlier this year, Griffin was given the U.S. Soccer Federation’s #10 Award as the group’s most impactful philanthropist ahead of the World Cup.

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Maine’s Democratic Party calls for Platner to drop out of race

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Biden border policy blamed for lower wages and rising housing costs

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Biden border policy blamed for lower wages and rising housing costs

Former President Joe Biden’s border policies forced Americans to shoulder economic burdens through rising rents and lower wages, former acting ICE Director Jonathan Fahey argued Monday.

“The American people overall are the losers on illegal migration,” Fahey told FOX Business’ Cheryl Casone.

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“Certainly, certain industries benefit from it, but the overall, it makes more sense what President Trump and his administration are doing, which is focusing on policies that protect American workers and make their wages rise.”

BIDEN’S ILLEGAL IMMIGRATION SURGE CAUSED HIGHER RENT AND HOME PRICES, FED STUDY FINDS

Biden speaking on affordable housing

Then-President Joe Biden speaks at Stupak Community Center on March 19, 2024 in Las Vegas, Nev. (Ian Maule/Getty Images / Getty Images)

Joining “Mornings With Maria” following the July 4 weekend, Fahey criticized the previous administration’s approach to illegal immigration, pointing to a Federal Reserve working paper that found the record surge in illegal immigration during Biden’s tenure was associated with higher home prices and rents.

The paper, published by the Federal Reserve Bank of Dallas, combines immigration court records with government administrative data to measure how the unprecedented wave of illegal immigration between 2021 and 2024 affected local labor and housing markets.

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The authors caution the study is a preliminary draft circulated for professional comment and does not necessarily reflect the views of the Federal Reserve Bank of Dallas or the Federal Reserve System.

BIDEN-ERA ILLEGAL IMMIGRATION DROVE UP HOUSING COSTS, FED ECONOMISTS FIND

Border Patrol agents

A U.S. Border Patrol agent speaks to immigrants blocked from entering a high-traffic illegal border crossing area along Rio Grande in El Paso, Texas on Dec. 20, 2022 as viewed from Ciudad Juarez, Mexico. (Getty Images)

Previous reporting found the influx of illegal immigrants boosted employment with little measurable effect on wages but significantly increased housing demand.

Fahey made a similar argument, linking the population surge to increased demand across multiple sectors.

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“That’s really just common sense. You bring in over 10 million people. They didn’t bring any homes with them. Prices are going to rise,” he explained.

“But we also had wages [go] down during the Biden administration because of it. Also, things like health care gets more expensive. No doctors, nurses, or hospitals came across the border, or very few doctors and nurses or anyone else, so that made that more expensive.”

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The preliminary report’s findings, however, suggested that a 1% increase in unauthorized workers relative to a local labor force corresponded with roughly a 1% increase in overall employment, with no evidence that the immigration surge reduced average wages.

At the same time, the population increase was associated with a roughly 2.2% rise in home prices and a 1.4% increase in rents, reflecting an additional demand shock in an already strained housing market.

FOX Business’ Amanda Macias contributed to this report.

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Trump eyes Australia superannuation model for US retirement savings

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Trump eyes Australia superannuation model for US retirement savings

President Donald Trump‘s ongoing reforms to the American retirement system are getting inspiration from Down Under.

The Trump administration is working on an Australia-style retirement savings plan for American workers, suggesting the model could put people in “much better shape” by retirement age, the president said Monday.

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“I made reference today that Australia has a thing going that’s very good – it’s really worked out very well,” Trump said during a Rose Garden lunch Monday, touting his new “Trump accounts” program for children. “We’re looking at that very strongly. We’re going to be taking that, and we’re going to be maybe making it a little bit sharper, a little bit even better. But we’re going to be doing that.”

Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and other administration officials were already working on the proposal, according to Trump, who described it as a companion effort to the children’s investment accounts launched under his sweeping tax-and-spending law.

WHAT U.S. RETIREES CAN LEARN FROM NEW ZEALAND AND AUSTRALIA

president donald trump speaks in the Rose Garden

President Donald Trump wants to bring his “Trump Account” success forward to help American workers with Australian-style retirement savings plans. (Anna Moneymaker/Getty Images)

“That would be more for grown-ups, as opposed to children,” Trump said earlier Monday in the Oval Office, adding that the administration would discuss the idea with Congress and “try very hard” to get it done.

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Australia’s retirement system is built around “superannuation,” a mandatory savings program that requires employers to contribute 12% of a worker’s ordinary earnings into tax-favored retirement accounts managed largely by private funds, according to the Center for Retirement Research at Boston College.

LARRY FINK CALLS FOR SOCIAL SECURITY REFORM, SAYS INVESTING A PORTION OF FUNDS COULD STRENGTHEN THE PROGRAM

Trump first floated interest in the Australian model in December while announcing a $6.25 billion donation from Michael and Susan Dell for Trump Accounts, saying at the time that the administration was studying a plan for “working people.”

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The renewed push comes as lawmakers face pressure over the long-term finances of Social Security. The Center for Retirement Research has argued that while Australia’s system is highly rated internationally, the U.S. would still need to shore up Social Security and expand access to workplace retirement plans to meaningfully improve retirement security.

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“It’s something that’s going to be great, I think, if we can get it done,” Trump said in the Oval Office.

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Ford Explorer recalls affected millions over defective plastic pins

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Ford recalls 254,640 SUVs over driver-assist software issues

Ford Explorer owners may be surprised to learn that the auto part responsible for a series of recalls isn’t related to the SUV’s engine, but a $5 plastic clip that can be easily replaced.

The motor giant has issued three recalls for the fifth-generation Ford Explorer for plastic retention pins that can detach, allowing various parts to come loose, including the A- and B-pillar trim, and roof rail covers, CarBuzz reported.

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FORD IN DEEP WATER AFTER SWEEPING RECALLS HIT EVERY MODEL SINCE 2020 – WITH ONE EXCEPTION

Ford Explorer vehicles at a Ford dealership

Ford Explorer vehicles at a Ford dealership in Richmond, California, US, on Wednesday, April 16, 2025. Millions of recalled Ford Explorers have been recalled due to a simple plastic pin, according to reports.  (David Paul Morris/Bloomberg via Getty Images / Getty Images)

Despite being cheap to replace, the defective pins have been responsible for more than two million Ford recall notices issued by the National Highway Traffic Safety Administration (NHTSA).

In more than 500,000 late fifth-generation Explorers, the retention pins “could loosen and allow the roof rail covers to detach from the vehicle,” resulting in pieces falling off the car and creating a road hazard, the report states.

FORD RECALLS MORE THAN 615,000 VEHICLES OVER WIPER AND DRIVESHAFT DEFECTS

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Ford logo in Michigan.

FILE – Ford Motor Co. signage is displayed outside of a dealership as the General Motors Co. (GM) headquarters building stands in the distance in Detroit, Michigan, U.S., on Monday, April 1, 2013.  (Jeff Kowalsky/Bloomberg via Getty Images  / Getty Images)

A January 2024 recall said the vehicle’s A-pillar could pop loose and detach. Ford chose to inspect the impacted vehicles and issue a replacement.

In a previous statement to FOX Business, back when the A-pillar trim recall was first issued in early 2024, Ford said it expected “only 5% of the vehicle population to be affected.”

Ford Motor Co is recalling nearly 617,00 Explorer sport utility vehicles in the United States at the request of regulators because retention pins could loosen and allow roof rail covers to detach from the vehicle. (Photo by Anton NovoderezhkinTASS vi (Anton Novoderezhkin\TASS via Getty Images)

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The B-pillar recall impacted hundreds of thousands of Explorers in a May 2023 recall in which the exterior door trim could be lost while driving.

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Ford’s fix in this instance involved a simple inspection and replacement of the part.

FOX Business has reached out to Ford.

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