INVESCO Ltd (IVZ)

The two-year yield was trending close to 3.67% on Thursday, compared to the effective federal funds rate of 4.33%.

Continuing claims, which reflect the number of Americans receiving benefits beyond the first week, rose by 83,000 to 1.92 million.

The former Treasury Secretary also noted that the tariffs could pose a challenge to the U.S. clean energy sector.

Gold prices extended their slide on Thursday, trading at around $3,220 per ounce during pre-market hours, as traders welcomed signs of progress in trade talks between the U.S. and countries facing President Trump's hefty tariff hikes.

Chinese imports now attract a 145% levy after President Donald Trump’s administration announced multiple retaliatory hikes.

White House trade adviser Peter Navarro downplayed the first-quarter GDP contraction, calling it the “best negative print” he’s seen and attributing the dip to a surge in pre-tariff imports rather than underlying economic weakness.

A contraction in the U.S. first-quarter GDP, which dragged benchmark indices on Wednesday, also appears to have weighed on Nike shares.

Core PCE, which excludes food and energy, also remained unchanged in March compared to the previous month but increased 2.6% from one year ago.

The first-quarter GDP contracted at an annual rate of 0.3%, marking the first quarter of negative growth since Q1 2022.

He also agreed that the 145% tariffs on Chinese imports were equivalent to a near-embargo.

Powell, appointed as Fed chair by Trump during his first term, fell out of favor with the president after stating he would wait for more clarity on the effects of the administration's broad tariffs before adjusting interest rates.

The Dallas Federal Reserve's business activity index for the Texas region fell 20 points to -35.8, the lowest reading since May 2020.

The stock could build additional momentum going into the company's first-quarter report, which is due after the market closes on May 5.

The bill seeks a ban on stock trading by lawmakers and their spouses during their time in office.

The rebound in the financial markets since last week is predicated on hopes of a potential trade deal between the two countries.

On Monday, the major averages settled on a mixed note as traders adopted a "wait-and-watch" approach following four straight sessions of gains.

According to a CNBC report citing CFRA Research data, the S&P 500 declined 7.9% from Trump's inauguration on Jan. 20 to the close of the session on April 25.

Investors ditched worries, boosting ETFs like VanEck SMH (+13%) on chip stock rally, Virtus BBC (+7%) on biotech hope, Simplify TESL (+31%) on Musk's focus, Invesco SPHB (+11.5%) on risk appetite, iShares IBIT (+9.2%) on crypto optimism. Market sentiment received boost from easing US-China trade tensions and news of no Fed Chair firing. S&P 500 recovered 80% of its post-April 2 sell-off, but warning signs remain with slowing private sector growth, declining consumer sentiment, and rising inflation expectations. ServiceNow (+20%) and Northrop Grumman (-15%) had divergent earnings, while Tesla (+31%) surged on Musk's promise to focus on making EVs. This week's action will be crucial.

The ECB official expects inflation to hover around the central bank’s target but cautioned that global trade disruptions are adding uncertainty to the outlook.

Bessent also pointed toward the strengthening of the Euro against the dollar since the tariff wars commenced and said that European countries are likely to be in panic given the strengthening of their currency.

He said that businesses would no longer feel comfortable relying on China for a large portion of their supply chain.