Morning Brief
Stocks rebound, Trump reshuffles Fed and BLS, Tesla OKs Musk pay
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Show notes
US stocks bounce after last week’s sell-off sparked by weak jobs data and President Trump’s new tariffs. Investors now see an 87% chance of a Fed rate cut in September. Trump says he’ll soon name new leaders for the Federal Reserve and Bureau of Labor Statistics after firing the BLS chief and Fed Governor Kugler’s resignation. Tesla (TSLA) shareholders approve a $30B pay package for Elon Musk, while Harley-Davidson (HOG) names a new CEO and Boeing (BA) workers strike. Earnings optimism holds up the market, but August volatility is expected.
Takeaways:
Stocks rebound as traders bet on September Fed rate cut
Trump to appoint new Fed governor, BLS head after surprise exits
Tesla OKs Musk’s $30B pay deal; Harley names new CEO; Boeing faces strike
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