April 23, 2025 - 18:04
US stocks experienced a notable surge today, with the Dow Jones Industrial Average rising by 400 points and the Nasdaq Composite gaining 2.5%. This rally was sparked by comments from President Trump, who stated he has "no intention" of dismissing Federal Reserve Chair Jerome Powell. His remarks alleviated concerns on Wall Street regarding the potential threat to the central bank's independence.
Investors reacted positively to the news, driving up share prices across various sectors. The market's optimism was palpable, with many analysts suggesting that the stability of the Federal Reserve is crucial for maintaining investor confidence. However, as trading progressed, the initial enthusiasm began to wane, leading to a fading of the mega-rally in late trading hours.
Despite this pullback, the day's gains reflect a broader sentiment of hope among investors, who are closely monitoring economic indicators and the Fed's future policy decisions. The market remains resilient, navigating through uncertainties with cautious optimism.
