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Markets jump after Powell rebuffs Trump 

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26.07.2025
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Business & Economy


Business & Economy

 

The Big Story

Markets jump after Powell rebuffs Trump

Financial markets finished the week on a high note after Federal Reserve Chair Jerome Powell stood his ground against President Trump in a rare joint appearance by the two men Thursday.

© Greg Nash

The S&P 500 finished 0.4 percent up, and the Dow Jones Industrial Average finished up 208 points or 0.47 percent.

The tech-heavy Nasdaq Composite gained about a quarter of percent to close above 21,108.

Top gainers on the day included Comfort Systems USA, Bel Fuse, Deckers Outdoor Corp. and IES Holdings, according to Morningstar.

The bond market also cooled off Friday. The 10-year Treasury yield finished slightly down after trading higher during the day as did the 30-year.

The bond market has exhibited major stresses this year through Trump’s trade war. Outflows from long-dated U.S. public and private bond funds reached close to $11 billion in the second quarter, according to a June Financial Times analysis using EPFR data.

Friday’s gains followed a confrontation between Trump and Powell on Thursday in which Powell repelled an attack from Trump — this time not on social media but on television.

The Hill’s Tobias Burns has more here.

 

Welcome to The Hill’s Business & Economy newsletter, I'm Aris Folley — covering the intersection of Wall Street and Pennsylvania Avenue.

 

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