Major Stock Indexes Fall But Are Poised for Monthly Gains; Trump Taps Warsh for Next Fed Chair; Gold, Silver Futures Sink

Sandisk’s Results and Outlook Soar Past Estimates. Its Rally Isn’t Stopping

FROM 1 hr 5 min ago

One of the hottest stocks of 2026 is extending its record run.

Sandisk (SNDK) shares, up 13% in recent trading, have more than doubled this year. The storage device maker reported quarterly earnings and forecasts stronger than analysts had forecast, helping drive the shares higher and making them one of the day’s top gainers in the S&P 500.

Fiscal second-quarter revenue came in at $3.03 billion, while adjusted earnings per share was $6.20, each well above the analyst consensus compiled by Visible Alpha. Sandisk expects current-quarter revenue of $4.4 billion to $4.8 billion, with adjusted EPS projected to come in between $12 and $14. Analysts had pegged those latter metrics at $3 billion and $5.42.

“The critical role that our products play in powering AI and the world’s technology is being recognized,” CEO David Goeckeler said.

Sandisk and other hardware makers have seen their stocks soar in recent months. Investors see them as key beneficiaries of the AI boom, with big tech companies spending hundreds of billions on the equipment needed for AI data centers. Sandisk in its latest results said its data center revenue grew 64% from the first quarter, and 76% year-over-year.

The stock got a boost when it was added to the S&P 500 late last year. It has continued to surge this year amid a rally for hardware makers.

Read the full article here.

–Aaron McDade

Avoid Refund Delays: IRS Phasing Out Paper Checks, Update Your Tax Return with Bank Details

FROM 1 hr 35 min ago

The IRS is asking all taxpayers to include their bank account information on their 2025 tax returns. Failing to do so could delay any refund this year.

Starting in the 2026 filing season, the IRS is transitioning away from paper tax-refund checks to electronic payments, which are less likely to be lost, stolen or delayed, the tax agency said. To prevent refund delays this year, taxpayers should provide accurate bank account information (routing and account numbers) on their returns.

If you do not include your direct deposit information or report it incorrectly, the IRS will still process your tax return, but it will then send you a notice informing you that your refund has been frozen. You will have 30 days from the date you receive the notice to update your online IRS account with the correct bank information.2

If you do not want to provide your bank account information, you can also call an IRS customer representative at 1-800-829-1040 to request a paper check, said the Taxpayer Advocate Service. Any taxpayers who don’t take action or respond to the notice will be sent a paper check after six weeks.

Read the full article here.

–Elizabeth Guevara

A Legendary Stock Picker Is Retiring This Year. Here’s What He’s Looking For in 2026

FROM 2 hr 25 min ago

It’s hard for stock pickers to beat the market—and even harder to do it consistently for years. Will Danoff has done both.

The Fidelity Contrafund (FCNTX), which Danoff has helmed since 1990, has posted an average annualized gain of more than 14%, outpacing both the S&P 500 and the Russell 1000 Growth Index, which tracks companies comparable to the fund’s category, through Monday’s close.

His ability to consistently beat the market has drawn big money, with the Contrafund’s assets under management recently above $176 billion. Danoff, however, plans to step away from the fund: He is set to retire at year’s end, though he will stay with Fidelity in an advisory capacity, per documents filed this week.

What makes Danoff a remarkable portfolio manager is that “his success wasn’t narrowly confined to one part of his career,” Morningstar analyst Robby Greengold told Investopedia. Some portfolio managers with 30-plus years under their belts tend to earn the bulk of their market outperformance within a two- or three-year window, he said, while Danoff has seen “phenomenal success” both earlier and later in his career.

Read the full article here.

–Crystal Kim

The Stock Price of Hoka and UGG Maker Deckers Outdoor Is Soaring Today. Here’s Why

FROM 3 hr 12 min ago

A shoemaker’s stock is running to its highest point in months Friday.

Deckers Outdoor (DECK) shares surged 11% in early trading after the parent company of Hoka running shoes and UGG boots reported better fiscal third quarter results than expected.

Deckers said after the bell Thursday that it earned $3.33 per share on $1.96 billion in revenue, each topping estimates compiled by Visible Alpha. Sales of the Hoka and UGG brands increased 18% and 5%, respectively, from the same time a year ago.

The company also lifted its full fiscal year forecasts, expecting $5.4 billion to $5.425 billion in sales and EPS of $6.80 to $6.85, each range fully above the analyst consensus, Previously Deckers had projected full-year revenue of $5.35 billion and EPS of $6.30 to $6.39.

Read the full article here.

–Aaron McDade

Inherited $50K? Experts Reveal Smart Strategies to Maximize Your Windfall

FROM 4 hr 7 min ago

An inheritance of $50,000 can be a powerful stepping stone toward long-term financial security. With thoughtful planning and expert guidance, this money can be worth much more in the future and help you close in on one or more financial goals.

If instead you act impulsively, the money could be lost in a fog of forgotten purchases and everyday expenses. Even if you do nothing with it, inflation can quietly erode its value over time.

Here are the intentional steps that experts suggest you take.

Read the full article here.

–Daniel Liberto

Interest Rate Changes Could Be on the Way Under Trump’s Pick for Fed Chair

FROM 5 hr 2 min ago

The nation’s next top banker could be less inclined to steeply cut interest rates than others who were vying for the job.

On Friday, President Donald Trump said on social media that former Federal Reserve Governor Kevin Warsh will be his nominee to chair the central bank. If approved by the Senate, Warsh will take over the position in May, when current Chair Jerome Powell’s leadership term expires.

Warsh served as a Fed governor between 2006 and 2011. He beat out several finalists for the job, including Trump Economic Advisor Kevin Hassett and BlackRock Executive Rick Rieder.

The selection could significantly affect the Federal Reserve’s monetary policy and future levels of the fed funds rate, which in turn influence borrowing costs for all kinds of loans. Warsh, a lawyer and banker, has appeared on television, praising Trump’s policies and advocating for rate cuts.

“We can lower interest rates a lot,” Warsh said on Fox News in October.

Read the full article here.

–Diccon Hyatt

Trump Names New Fed Chair: Kevin Warsh

FROM 5 hr 28 min ago

President Donald Trump has selected former Federal Reserve Governor Kevin Warsh to be the next chair of the central bank.

Warsh, who served as a Fed governor between 2006 and 2011, beat out several finalists for the job, including Trump economic advisor Kevin Hassett and BlackRock executive Rick Rieder. Warsh will take over as Fed chair after Jerome Powell’s term expires in May, assuming he is confirmed by the Senate.

“I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best,” Trump wrote in a social media post Friday morning.

The chair of the Federal Reserve is one of the most influential jobs in the economy, responsible for leading the U.S. central bank and heading the 12-person committee that sets monetary policy. The Fed is responsible for keeping inflation low and employment high, mainly by adjusting borrowing costs via the fed funds rate.

Read the full article here.

–Diccon Hyatt

The IRS Workforce Is Down By 27%. It Could Slow Your Refund

FROM 5 hr 50 min ago

Changes in tax law and significant layoffs at the IRS may result in delays for some taxpayers this filing season.

The Taxpayer Advocate Service, an independent watchdog within the IRS, said in its annual report to Congress on Wednesday that most taxpayers are expected to have a smooth 2026 filing season. However, those who require help from the IRS or filed their tax return incorrectly could experience delays and problems.

“The success of the filing season will be defined by how well the IRS is able to assist the millions of taxpayers who experience problems,” wrote National Taxpayer Advocate Erin M. Collins in the report.

During 2025, the federal government laid off 27% of IRS workers and the agency went through numerous leadership changes. In particular, last year, the IRS had seven different commissioners. Currently, Scott Bessent, who also serves as the Secretary of the Treasury, is the acting IRS commissioner.

In addition, the IRS said it needed to hire 3,500 new customer service representatives to handle phone calls from taxpayers with questions. Yet the tax agency didn’t meet its goal, the Taxpayer Advocate Service said, and is 1,000 employees short.

Read the full article here.

–Elizabeth Guevara

Stock Futures Point Sharply Lower at End of Winning Month

FROM 6 hr 26 min ago

Futures contracts connected to the Dow Jones Industrial Average were 0.7% lower.

S&P 500 futures also were down 0.7%.

Nasdaq 100 futures pointed 0.8% lower.