The meme stock craze hits Chewy and Petco, Chipotle's split, Janet Yellen on inflation: Markets news roundup

Photo: Justin Sullivan (Getty Images), Anna Moneymaker (Getty Images), Samuel Corum/Stringer (Getty Images), Joe Raedle (Getty Images), Chip Somodevilla (Getty Images), ArLawKa AungTun (Getty Images), Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket (Getty Images), Image: Josh Edelson/AFP (Getty Images)

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It could soon be easier to borrow against your home after U.S. regulators approved a Freddie Mac pilot program for purchasing second mortgages.

The plan, announced Friday, is meant to help homeowners who secured low-interest mortgages and want to access their home’s equity for a loan.

The Federal Housing Finance Agency (FHFA) said it granted “conditional approval” to the program. Under the pilot, Freddie Mac will have $2.5 billion cap on purchases over 18 months, with maximum loan amounts of $78,277.

U.S.Treasury Secretary Janet Yellen speaking during the Financial Stability Oversight Council Conference on June 6 in Washington, D.C.Photo: Anna Moneymaker (Getty Images)

Treasury Secretary Janet Yellen thinks the Federal Reserve could hit its 2% inflation target in 2025, with a soft landing well in her sights.

Yellen told Yahoo Finance in an interview published Monday that she does “not see the basis” for a U.S. recession, pointing to the Fed’s caution around cutting interest rates too soon to avoid tipping the economy into the red as “the balancing act that they have.”

A woman rides a mechanical burrito on a Chipotle-themed float during San Francisco’s Gay Pride parade in California.
Image: Josh Edelson/AFP (Getty Images)

Chipotle Mexican Grill is getting closer to its 50-for-1 stock split on Wednesday that will be one of the biggest in history for the New York Stock Exchange (NYSE).

Trump Media debuted on the Nasdaq on March 26 after merging with Digital World Acquisition Corp.Photo: Samuel Corum/Stringer (Getty Images)

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Former President Donald TrumpPhoto: Chip Somodevilla (Getty Images)

Donald Trump is the self-proclaimed “King of Debt.” That extended to the national debt during his time as president — and is poised to continue in a possible second term.

Photo: ArLawKa AungTun (Getty Images)

Americans are storing away more than ever for retirement, but they’re fighting an uphill battle as a comfortable retirement seems further and further out of reach.

Photo: Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket (Getty Images)

The successful results of a heart drug’s late-stage clinical trial have prompted Alnylam Pharmaceuticals’ stock to jump 35%.

A bear market could be on the horizon, strategist says

Kevin Gordon, senior investment strategist with Charles Schwab & Co., breaks down how and why the market could turn south in the second half of the year

Nvidia selloff could be good for the stock market, strategist says

Kevin Gordon, senior investment strategist with Charles Schwab & Co., breaks down why money rotating out of big tech to value and cyclicals could be good news

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