⁠Wall St Engine
FED POWELL:

I CAN'T CONFIDENTLY SAY I KNOW THE APPROPRIATE RATE PATH; MY GUT TELLS ME THAT UNCERTAINTY IS EXTREMELY ELEVATED

RISKS OF HIGHER UNEMPLOYMENT AND HIGHER INFLATION HAVE RISEN, BUT NOT YET IN DATA
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⁠Wall St Engine
FED POWELL:

QE WASNT BEYOND THE CONFINES OF OUR MANDATE; WE COULD HAVE EXPLAINED IT BETTER

DIDNT WANT SHARP TIGHTENING OF FINANCIAL CONDITIONS WHEN ECONOMY WAS VULNERABLE

ON CLIMATE, OVER AND OVER YOU'VE HEARD ME SAY FED'S ROLE IS VERY VERY NARROW

THAT'S WHAT WE'VE DONE; WE'VE DONE VERY LITTLE ON CLIMATE
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FED POWELL: WE DON'T SEE BIG ECONOMIC EFFECTS IN THE DATA YET; PEOPLE ARE WORRIED, BUT SHOCK HASN'T HIT YET
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POWELL: THE DEBT IS ON AN UNSUSTAINABLE PATH
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Fed's Powell: “I think they don’t need my advice -- and our advice -- on how to do fiscal policy. Any more than we need their advice on monetary policy.”
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Powell says he can’t weigh in directly on the upcoming US-China trade talks in Switzerland but notes we're entering a new phase as the administration kicks off negotiations. Says trade outcomes could “materially change the picture—or not,” but that’s for the administration to do.
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⁠Wall St Engine
FED'S POWELL: BIG SPIKE IN IMPORTS TO BEAT TARIFFS SHOULD REVERSE IN 2Q. LIKELY NET EXPORTS TO HAVE A LARGE POSITIVE CONTRIBUTION TO GDP.
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FED'S POWELL: SWINGS IN GDP DATA WON'T REALLY CHANGE THINGS FOR US.
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FED POWELL: FOCUS IS ON MAKING BEST DECISIONS FOR AMERICAN PEOPLE
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⁠Wall St Engine
DOUBLELINE'S JEFFREY GUNDLACH:

AS ECONOMY WEAKENS, LONG-TERM RATES COULD GO UP; DON'T TAKE FIRST QUARTER GDP AT FACE VALUE; MIGHT HAVE TO DO YIELD CURVE CONTROL
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⁠Wall St Engine
As the Fed stuck with the “wait and see” stance throughout the conf, Polymarket odds currently show just a 15% chance of no rate cuts in 2025.

Both CME FedWatch and Polymarket are still leaning toward 3 cuts by year-end. https://t.co/J7QUFnS15a
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⁠Wall St Engine
The U.S. is weighing tariff exemptions on strollers and car seats as prices climb for American families. About 97% of strollers and 87% of car seats used in the U.S. are imported from China. Brands like Graco have already hiked prices by 20% amid rising costs.
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⁠Wall St Engine
Gilead Sciences $GILD plans to invest $11B in U.S. R&D and manufacturing, part of a broader $43B economic impact over five years. The move includes new facilities, tech upgrades, & will create around 800 direct & 2,200 indirect jobs by 2028. GILD has already invested $15B in the past decade.
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TRUMP TO RESCIND GLOBAL CHIP CURBS AMID AI RESTRICTIONS DEBATE
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BREAKING: Trump plans to rescind global chip export restrictions, including Biden-era AI diffusion rule. Officials are preparing the repeal as $NVDA reportedly pushed back hard against the rule and lobbied for its reversal.
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⁠Wall St Engine
S&P 500 Closing Bell Heatmap (May 07, 2025)

$SPY +0.44% 🟩
$QQQ +0.39% 🟩
$DJI +0.70% 🟩
$IWM +0.32% 🟩

S&P 500 Opening Bell Heatmap (May 07, 2025)

$SPY +0.21% 🟩
$QQQ flat ⬜
$DJI +0.39% 🟩
$IWM +0.47% 🟩 - Wall St Engine
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