If I had a dollar for every time Trump threatened to sack Jerome Powell… well, I’d probably only have a few dollars but hey, points for passive income. Anyway, today’s episode was the epitome of “Will He or Won’t He” starring Donny Politics himself, who almost broke the entire market’s kneecaps this morning because someone in the White House decided to whisper to Republican lawmakers that Trump “likely will soon” toss J-Pow out on his a$$.
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Cue the yeeting of stocks as the Dow dropped 264 points at its session low before clawing back to close up 231 points at 44,254.78. The S&P 500 added 0.32% to hit 6,263.70, while the Nasdaq notched its ninth record close this year at 20,730.49. Translation: They definitely had us in the first half… not gonna lie.
However, Trump in classic fashion, tried to slam the brakes on the drama by telling reporters: “No, we’re not planning on doing it.” He added the world’s biggest asterisk: “I don’t rule out anything but it’s highly unlikely.” So...basically, thanks for clearing that up, Mr. President. Investors are thrilled to know the Fed chair’s job security is about as solid as a crack head's last tooth. Meanwhile, inflation is somewhat back and roaring its disgusting head. The CPI rose in June, while wholesale prices (the PPI) were flat month-over-month, but don’t you worry because analysts like Marc Balcer at Girard were quick to point out that the PPI doesn’t even factor in the roughly $27 billion in tariffs the U.S. government vacuumed up last month. “Merica! With that said though, somebody’s gotta eat that cost… a.k.a. foreign suppliers, American corporations, or (spoiler alert) us poor peasants who take out a second mortgage during Prime Day.
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As for the corporate world, Johnson & Johnson popped +6% with its surprise mixtape of crushed earnings and boosted guidance. Ford caught fire (-3%) as they took “Found On Road Dead” to a whole new level by recalling nearly 700,000 SUVs for potential fuel leaks. Regarding ASML, pour one out for investors. Shares plummeted -8% because management admitted they weren’t so sure about growth in 2026 because geopolitical chaos is throwing shade at its semiconductor business.
Over in Big Tech land, it was another day of mixed signals. Tesla roared +3.5% due to volatility and the fact that Elon didn’t do anything stupid. Nvidia, Apple, and Alphabet all tiptoed higher. Amazon, however, dropped it like it’s hot (-1.5%) despite Cantor Fitzgerald and Jefferies Financial raising price targets. Spoiler: The math definitely wasn’t mathin’ today. Additionally, Meta dipped about -1%, while Broadcom and Microsoft did their best impersonation of a flat on your back Jack. (iykyk).
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Crypto stocks got a jolt thanks to Bitcoin catching a bid. Microstrategy strutted +3% higher, Coinbase popped +2.%, and Mara Holdings threw its own party as it mooned nearly 4%. Circle, the stablecoin pimp, soared nearly 20% as Bank of America said it’s ready to take stablecoin issuance past first base.
In the end, the real headline today was the fact that for a hot second, Jerome Powell’s LinkedIn was going for the #Openforwork glow-up. Of course, he might still get canned… but probably not. For now though, expect the market to keep swingin’ its volatility. Meaning, keep your head on the swivel and place your bets accordingly, friends. Until next time…
If you read all of this, congrats for having a 10 second attention span (better than me). As always, here’s our heatmap for today.
At the time of publishing, Stocks.News holds positions in Johnson and Johnson, Ford, Tesla, Apple, Alphabet, Amazon, Meta, and Microsoft as mentioned in the article.
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