Morning Brief
Fed in focus, TSMC soars, retail sales strong, volatility lingers
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Show notes
US stocks opened mixed as investors weighed President Trump’s denial that he plans to fire Fed Chair Powell, while New York Fed president John Williams warned tariffs could drive inflation as high as 3.5% in 2025. The odds of a September Fed rate cut have dropped to 50/50. Taiwan Semiconductor (TSMC) rallied on blowout earnings, while GE Aerospace (GE) and PepsiCo (PEP) also posted strong results. Retail sales surged 0.6% in June, signaling the consumer remains resilient despite tariffs. Market pros say volatility could spike in August, even as stocks grind higher.
Takeaways:
Trump denies firing Powell; Fed signals caution as tariffs lift inflation
TSMC jumps on 61% profit gain; GE Aerospace and Pepsi beat expectations
Retail sales and jobless claims show continued consumer strength
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