Key Takeaways
- French Prime Minister Sébastien Lecornu's week-old government survived its first no-confidence vote with 271 votes, falling short of the 289 required to oust him, providing a degree of political stability in France.
- Citigroup (C) has significantly raised its price target for Micron Technology (MU) to $240 from $200, signaling strong analyst confidence in the semiconductor giant's growth, particularly driven by demand for DRAM chips and AI exposure.
- Trust in former President Trump and Health Secretary Robert F. Kennedy Jr. regarding healthcare has declined among U.S. adults, with a KFF poll reported by Axios showing only 42% trust for Trump and 43% for RFK Jr.
- The U.S. government shutdown has entered its 16th day, with the Senate repeatedly failing to advance a GOP funding bill amid Democratic demands for healthcare tax credit extensions.
French Government Navigates No-Confidence Challenge
French Prime Minister Sébastien Lecornu successfully navigated his first no-confidence vote on Thursday, securing the survival of his week-old government. The motion, initiated by the hard-left France Unbowed party, garnered 271 votes, falling short of the 289 votes needed to topple the administration. This outcome was largely attributed to Lecornu's pledge to suspend the controversial pension reform until after the 2027 presidential elections, a move that garnered crucial backing from the Socialist Party. While a second no-confidence motion, tabled by the far-right National Rally, is also expected to fail, the vote underscores the fragility of President Emmanuel Macron's administration midway through his final term.
Citigroup Boosts Micron Technology Target to $240
In a significant show of confidence, Citigroup (C) has increased its price target for Micron Technology (MU) shares to $240 from $200. This latest upgrade follows previous adjustments from the firm, reflecting growing optimism in the semiconductor sector. Analysts at Citi cited robust demand for DRAM chips and Micron's strategic positioning within the burgeoning artificial intelligence (AI) market as key drivers for the elevated target. Cantor also echoed this sentiment, raising its target for Micron to $240 from $200, further highlighting the positive outlook for memory and storage companies amid significant compute buildouts for generative AI.
Declining Trust in U.S. Healthcare Leadership
A recent KFF poll, highlighted by Axios, indicates a notable decline in public trust regarding healthcare recommendations from prominent U.S. political figures. Only 42% of U.S. adults expressed trust in former President Donald Trump, while Robert F. Kennedy Jr., serving as Health Secretary, garnered 43% trust. Critics, including a group of former surgeons general, have voiced concerns that Secretary Kennedy's policies and stances, particularly on vaccinations, are endangering the nation's health and undermining public confidence in federal health agencies. The Trump administration has also been linked to a "sweeping war on health care" and significant cuts to public health infrastructure.
U.S. Government Shutdown Enters Day 16
The U.S. government shutdown has extended into its 16th day, with no immediate resolution in sight. The Senate has repeatedly failed to advance a House-passed Republican funding bill, as Democrats continue to demand an extension of healthcare tax credits. Despite the broader freeze on federal paychecks, the Trump administration has taken steps to ensure military members and FBI agents receive their pay, though House Speaker Mike Johnson has warned this is a temporary measure. The prolonged shutdown has led to significant disruptions, including layoffs of CDC scientists, with warnings that these reductions could lead to "more preventable deaths."
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.