Powell Hints At Rate Cut, Bank Credit Fears Emerge: This Week In Markets

After the shock of Friday, Oct. 10, when Donald Trump announced 100% tariffs on Chinese products, the president quickly softened his tone, assuring that trade relations "will be fine."

That sweetener was well received by markets, helping Wall Street rebound early in the week.

Powell's Dovish Tone Added Fuel To The Recovery

The recovery was also fueled by stronger-than-expected bank earnings and by dovish remarks from Federal Reserve Chair Jerome Powell.

Powell warned of mounting risks to employment, another indication that the central bank is likely to continue easing borrowing costs, bolstering bets on a rate cut later this month.

Big Banks Shine, But Cracks Emerge in Smaller Lenders

Major U.S. banks including JPMorgan Chase & Co. (NYSE:JPM), Goldman Sachs Group Inc. (NYSE:GS), Bank of America Corp. (NYSE:BAC), Citigroup Inc. (NYSE:C), Wells Fargo & Co. (NYSE:WFC) ...

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Powell Hints At Rate Cut, Bank Credit Fears Emerge: This Week In Markets

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