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Market Volatility: Stocks Flatten as Powell's Remarks Weigh on Gains

The stock market experienced a turbulent session on Wednesday, ultimately closing near flat after Federal Reserve Chair Jerome Powell's comments on monetary policy and inflation concerns. The S&P 500 ended nearly unchanged , giving back earlier gains as investors digested Powell’s remarks on the Fed’s stance regarding interest rates and economic restraint. Powell reiterated that the central bank remains cautious about inflation, particularly in light of tariff-driven price increases expected over the summer. While the Fed signaled that borrowing costs are likely to decline this year, the pace of future rate cuts appears to be slowing.  Following Powell’s speech, U.S. Treasury yields reversed their earlier declines , influencing market sentiment. The Dow Jones Industrial Average fell 43.83 points (0.10%) , while the Nasdaq Composite managed a slight gain of 23.66 points (0.12%).  Investors also kept a close eye on geopolitical developments, particularly tensions in the Midd...
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Elon Musk Departs Trump Administration After Five-Month Tenure

Elon Musk has officially stepped down from his role in the Trump administration, marking the end of a five-month tenure as a special government employee. Musk, who led the Department of Government Efficiency (DOGE), was tasked with reducing federal spending but faced significant challenges in achieving his ambitious goals.

His departure comes just a day after he publicly criticized a Republican-backed bill that includes tax cuts and spending reductions, calling it a "massive spending bill" that undermines his efforts. Musk expressed frustration with the federal bureaucracy, stating that the situation was "much worse than I realized".

Despite his exit, Musk remains optimistic about the future of DOGE, stating that its mission "will only strengthen over time as it becomes a way of life throughout the government". As he shifts his focus back to his businesses, including Tesla and SpaceX, his brief but eventful stint in Washington leaves behind a legacy of attempted government reform and political controversy.

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