Skip to main content

Featured

Trump–Powell Showdown Intensifies as White House Floats Criminal Charges

                                                       Donald Trump and Federal Reserve Chair Jerome Powell A dramatic escalation in the long‑running tension between President Donald Trump and Federal Reserve Chair Jerome Powell has thrust the independence of the U.S. central bank into the spotlight. The conflict deepened after Powell disclosed that the Department of Justice had issued grand jury subpoenas to the Federal Reserve—an action he suggested was politically motivated. The inquiry centers on Powell’s congressional testimony about cost overruns tied to a Federal Reserve building renovation. Powell has dismissed the investigation as a pretext, arguing that the administration’s real aim is to pressure the Fed into cutting interest rates more aggressively, a move Trump has repeatedly demanded. The threat of potential...
Post a Comment
Read more

article

Labels

Stock Market Today: US Futures Hold Steady as Inflation Test Looms

                                    

US stocks held steady on Wednesday, eyeing fresh record highs ahead of a crucial update on consumer prices that could upend rate-cut hopes and as meme stocks regrouped after a roaring rally. Investors are closely watching inflation data to gauge its impact on interest rates and overall market sentiment. Here are the details:

  • Wholesale Prices Surge: New data showed that wholesale prices increased 0.5% month-over-month in April, surpassing the 0.3% consensus expectation. The Producer Price Index, which measures prices producers receive for goods produced, revealed this unexpected rise. Additionally, March’s monthly price increase was revised lower to a decrease of 0.1% from an initial reading of a 0.2% increase.
  • Meme Stocks Roar Back: Retail investors flocked to meme stocks, with AMC shares surging over 120% and GameStop popping about 100% for a second consecutive day. The return of an influential social media star reignited interest in these volatile stocks.
  • Federal Reserve’s Stance: A chorus of Federal Reserve officials has emphasized that they won’t lower rates until they’re confident of a cooling economy. Investors eagerly await comments from Fed Chair Jerome Powell to gauge progress on the inflation mission and assess how the US economy is holding up.
  • Optimism and Caution: Stocks have paused their recent rally as investors weigh whether inflation has become less sticky and started to fall, potentially setting the stage for interest rate cuts. The market remains cautiously optimistic about the economy’s trajectory.
  • Alibaba’s Earnings Report: Chinese e-commerce giant Alibaba reported a worse-than-expected 86% drop in profit but beat Wall Street estimates for revenue. Despite this, Alibaba shares fell around 6% following the earnings release.

As the Consumer Price Index data looms, investors are closely monitoring inflation trends. The stock market’s resilience amid uncertainty reflects both optimism and caution. Stay tuned for further updates as the economic landscape continues to evolve.


Labels:

Comments

Post a Comment