Investors Love Trump's Latest Reversal -- on Jay Powell
Trump’s reversals continue to drive market sentiment
Highlights
• Trump’s reversals continue to drive market sentiment
• Asian stocks join the rally, European indices follow
• Latest Fed talk trims the odds of a rate cut in September
• U.S. dollar is bouncing back on soft data abroad
Key Takeaways
• Positive Sentiment Boosts Stocks in Europe and Asia: For the most part, U.S. equity futures are holding on to yesterday’s gains (led by large-cap Tech — yesterday’s warning from ASML didn’t last very long). The Euro Stoxx 50 has advanced +1.0%, with broadly based gains, and Asia rocked and rolled today: Thailand (+3.3%), Singapore (+0.7%), Japan’s Nikkei 225 (+0.6%), China’s Shanghai Composite (+0.4%), and Korea (+0.2%) were all up.
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