Wall Street, Trump and Powell
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Wall Street had a mixed finish, with the S&P 500 slightly down after an all-time high, while the Dow dropped 142 points. Trump is pushing for higher EU tariffs, causing market fluctuations. Consumer sentiment rose,
Markets got back to treading water this week, as inflation and tariff concerns have some analysts pushing the next interest rate cut to December.
Wall Street ended Wednesday on top as markets grinded out a win in the wake of the latest PPI data and news that President Trump indicated that he will fire Fed Chairman Jerome Powell.
A firing of Jerome Powell by President Trump would likely open up a legal war never before seen in the US, without any guarantee of a courtroom victory for the White House.
This past April, when President Donald Trump started flirting with the notion of firing Fed Chair Jerome Powell, stocks and the dollar tumbled because investors worried that even talking about such a move crossed a red line.
The Wall Street Journal editorial board on Wednesday urged President Trump not to follow through on his threat to fire Federal Reserve Chair Jerome Powell, warning the consequences would be worse
JPMorgan's Brenda Duverce is initiating coverage on the AI startup today. Duverce said OpenAI stands to shake up the search market further in the years ahead, with an unrivaled brand and a $700 billion total addressable market potential.