Summary
President Trump hinted that the U.S. might ease off the gas pedal on those sky-high tariffs against China.
Market Recap
Market Movers
- 📈 American Airlines Earnings: Apr 24, 2025
- 📈 Southwest Airlines Earnings: Apr 24, 2025
- 📈 Intel Earnings: Apr 24, 2025
- 📈 Alphabet Earnings GOOG: Apr 24, 2025
📚 Deep Dive 📚
Trump & Bessent Shake Things Up and Markets Love It
April 23, 2025 - Markets popped off today, and the reason? A rare combo of calm talk from President Trump and Treasury Secretary Scott Bessent that gave Wall Street a bit of breathing room.
What Did Trump Say? Trump hinted that the U.S. might ease off the gas pedal on those sky-high tariffs against China. Right now, they’re at a monster 145%, but he suggested a big cut might be coming. He made it clear the tariffs won’t be scrapped completely but just dialed back to cool things off.
Even more surprising? He said he won’t be firing Fed Chair Jerome Powell. That alone helped settle nerves. Some investors were worried the Fed could be thrown into chaos if Powell was pushed out early.
Treasury Secretary Scott Bessent’s Take? Bessent stepped in with his own mic drop: “These tariffs aren’t sustainable.” Basically, he’s saying this trade war is getting too expensive and needs a reset. Talks with China aren’t official yet, but the vibe is shifting. Less drama, more deal-making. He did go on to mention it might be 2-3 years before a trade deal is finalized, which caused the market to drop into the close (did he buy puts first?).
How Did Markets React? Stocks jumped across the board:
Why the rally? Relief. Traders love certainty, and this news made it sound like cooler heads are finally prevailing.
⚠️ But Hold Up… This isn’t over yet. Tariffs are still in place, and nothing’s been officially changed. But for now? Markets are feeling better — and that’s enough to spark some green on the screen.