Fortune Brands Innovations stock jumps on mortgage-bond plan as CPI test nears
Fortune Brands Innovations closed up 5.7% at $58.14 Friday as investors bought housing-related stocks. President Trump ordered the FHFA to purchase $200 billion in mortgage bonds, with an initial $3 billion already underway. Analysts say the move may lower mortgage rates slightly but warn affordability remains strained. U.S. stock futures slipped late Sunday after Fed Chair Powell said the administration threatened him with indictment.