Closing Bell: Housing & Defense Stocks Fall, Intel Rallies

On this episode of Stock Movers:

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.

- Intel (INTC) shares climb as much as 11% on Wednesday, to hit its highest level since April 2024, as the chipmaker extends gains for a second quarter. The stock, which recorded its biggest intraday jump since September, is the biggest percentage gainer in the S&P 500 Index

- Blackstone (BX) falls as much as 9.3% after US President Donald Trump said he was “immediately taking steps to ban large institutional investors from buying more single-family homes.” Home rental company American Homes 4 Rent (AMH) falls 6.3% and Invitation Homes (INVH) drops 6.2%.

- President Donald Trump pledged to block dividends, stock buybacks and "Over Compensation of Executives" of defense companies until they speed up production and maintenance of military equipment. Shares of defense contractors such as Lockheed Martin (LMT) and Northrop Grumman (NOC) dropped after Trump's announcement, with Lockheed's stock closing down 4.8% and Northrop shedding 5.5%.

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