22.04.202523:20:37UTC+00US Futures Surge as Trump Confirms Powell Will Stay

U.S. stock futures experienced a significant upswing on Wednesday after President Donald Trump affirmed that he has no intentions to dismiss Federal Reserve Chair Jerome Powell. This assurance alleviated investors' anxieties surrounding the independence of the central bank and its policy consistency. This positive movement in futures came on the heels of a robust trading session on Wall Street the previous Tuesday, during which the Dow Jones Industrial Average climbed 2.66%, the S&P 500 ascended 2.51%, and the Nasdaq Composite rose by 2.71%. Market sentiment was further buoyed by remarks from Treasury Secretary Scott Besset, who indicated a possible easing of tensions in the ongoing trade conflict with China. During a summit hosted by JPMorgan, Besset characterized the current tariff scenario as "unsustainable" and suggested that negotiations might soon progress towards a resolution. Nonetheless, the initial momentum waned later in the day when Besset managed expectations, clarifying that formal discussions with China had not yet commenced and warning that the negotiating process could be protracted and challenging. In corporate developments, Tesla reported results for its first quarter that fell short of expectations for both revenue and earnings.