wall street trump powell market reaction

Wall Street is back to normal after President Donald Trump downplayed his threats to fire Federal Reserve Chair Jerome Powell. Markets seem calm as Trump has softened his stance on Powell, who he's been criticizing for keeping interest rates steady despite a strong economy and low unemployment. Trump's new complaint about Powell is over cost overruns on the $2.5 billion Fed headquarters renovation. Wall Street likes lower rates because they boost stock prices, and Trump wants the Fed to cut rates faster. However, Powell wants to wait for more data on how Trump's tariffs will affect the economy and inflation. Markets and the dollar dropped briefly Wednesday when Trump mentioned terminating Powell but mostly recovered after his comments. Some companies are reporting strong earnings despite uncertainty about the future due to Trump's tariffs. PepsiCo shares rose 2% before the bell after beating earnings expectations. They reaffirmed their April guidance, predicting lower full-year profit due to tariffs and reduced consumer spending. Taiwan Semiconductor Manufacturing Co. (TSMC) saw huge sales and profit gains, sending its stock up 3.4%. However, TSMC, a major supplier for Nvidia (NVDA), noted "uncertainties and risks from potential tariff impacts." United Airlines (UAL) reported lower-than-expected revenue and cut its full-year profit outlook, causing its shares to dip 1.6% overnight. Archer-Daniels-Midland (ADM) and Ingredion, makers of high fructose corn syrup, fell early Thursday after Trump mentioned Coca-Cola using real cane sugar in its flagship drink in the US, though the company hasn't confirmed. Ingredion dropped almost 6%, and ADM fell 3%. Netflix (NFLX) reports earnings after markets close.