US President Donald Trump speaks to reporters as he participates in the swearing-in ceremony for Paul Atkins, Chairman of the Securities and Exchange Commission (SEC), in the Oval Office of the White House on Washington, DC, April 22, 2025.
Saul Loeb | Afp | Getty Images
My top 10 things to watch Wednesday, April 23
1. Stocks are on pace to have a second big day in a row. Today’s rally is largely about President Donald Trump saying he has “no intention” to fire Fed chief Jerome Powell. Trump’s attacks on Powell rattled the market Monday, but we bounced back yesterday.
2. Trump also suggested the 145% tariff rate on Chinese imports won’t stay that high. Shares of Club name Apple, which makes a lot of iPhones in China but is currently exempt from that triple-digit rate, are up more than 3% this morning. Fellow Club stocks Amazon and Nvidia also are up big, which could be some short-covering.
3. Tesla shares jumped 7% this morning despite first-quarter sales and profits missing expectations. CEO Elon Musk is still all systems go on launching a robotaxi pilot in Austin in June. Tesla also plans to start making humanoid robots later this year.
