The U.S. markets saw a significant rise in futures today, as President Donald Trump’s comments boosted investor sentiment. Trump confirmed that he does not plan to dismiss Federal Reserve Chairman Jerome Powell, which reassured the markets and increased optimism. Additionally, Trump mentioned the possibility of reducing tariffs on China after a trade deal is finalized, which raised hopes for economic stability. These positive remarks directly impacted the stock markets, with Dow Jones, S&P 500, and Nasdaq indices recording notable gains.
In the same context, U.S. Treasury Secretary Scott Pessen confirmed that trade talks with China could see a de-escalation soon, further boosting stability in currency markets. After a period of sharp fluctuations in the U.S. dollar due to trade tensions, the markets are now showing relative improvement. However, despite the current optimism, the S&P 500 index remains 14% below its peak in February 2025, reflecting the continued impact of political volatility on market performance.
Regarding the Federal Reserve, Trump backtracked on previous comments that hinted at the possibility of dismissing Powell due to his slow pace in cutting interest rates. The U.S. president confirmed that he does not intend to take this step but added that he would like Powell to be more active in reducing rates. These remarks helped calm the markets, leading to a rebound in major tech stocks like Amazon and Apple during after-hours trading.
In another development, Elon Musk, CEO of Tesla, announced plans to scale back his involvement in the U.S. administration and focus more on managing his company, in light of declining Tesla sales. This decision followed growing pressure from investors who urged Musk to refocus his efforts on improving the company’s performance amid the current economic conditions.
In the cryptocurrency market, Bitcoin saw a strong rise of over 6%, reaching its highest level in seven weeks, with a price of $93,811. This increase came after Trump reversed his earlier threats to dismiss Federal Reserve Chairman Jerome Powell, easing investor concerns about the independence of the U.S. central bank.
The rise in Bitcoin reflects renewed confidence in the digital markets after a period of narrow trading due to uncertainty surrounding U.S. monetary policy. With political tensions easing and the aggressive rhetoric towards China softening, investors began reassessing the digital asset markets, leading to increased demand for Bitcoin and other cryptocurrencies.
In a major strategic move, a joint venture between Cantor Fitzgerald, SoftBank, Bitfinex, and Tether was announced to invest in digital currencies through a special purpose acquisition company (SPAC). The project aims to raise $3 billion in Bitcoin, with plans to gather an additional $550 million through bonds and equity. This investment reflects the growing trend of enhancing cryptocurrency investments.
