- Upbeat U.S. economic data boosts markets, overshadowing Trump-Powell drama. S&P 500 and Nasdaq hit record highs. Powell’s potential exit from Fed raises questions on market impact.
- Key market moves: Nasdaq up 0.7%, S&P 500 gains 0.5%. Dollar index at 4-week high, oil prices rise over 1.5%.
- Strong U.S. economic data, including retail sales, reinforce positive outlook. Atlanta Fed estimates 2.4% growth in Q2. Earnings season shows U.S. corporate profits surpassing expectations.
- Global equity markets brighten with TSMC’s record profit on AI chip demand. Trade deals with India, Europe, and Japan in focus.
- Trump’s attacks on Powell affect dollar, Treasury yields. Market resilience amid Fed independence concerns. Wall Street hits record highs despite political interference.
- Investors skeptical of Powell’s removal. Fed Chair’s replacement could impact yields, dollar, and inflation. Market eyes Japan’s election, U.S. consumer sentiment, earnings.
- JP Morgan CEO warns of risks of political interference in Fed policy. Markets accept Fed independence breach for now. Tomorrow’s market movers include Japan CPI, U.S. earnings.
Read more at Yahoo Finance: Econ surprise, Wall Street’s new highs