TheDrop Market Analysis, 07/16/25
- Alexangel Ventura
- 1 day ago
- 1 min read
Markets surged on Wednesday as President Trump denies naming a successor for Fed chair Jerome Powell.
The S&P 500 index rose 0.32%, the Dow 30 index rose 0.53%, the Nasdaq index rose 0.25%, and the Russell 2000 index rose by a solid 0.99%. On the other hand, the VIX volatility index fell 1.27%.
Currency markets also did very well. The valuations of gold rose 0.52%, silver rose 0.04%, and against the Euro and the British Pound, the U.S. dollar rose. Bitcoin continued its record-breaking rise with it surpassing $119,000 per unit of Bitcoin. Ethereum, meanwhile, skyrocketed by over 10%.
10-year bond yields fell 0.76%.
Markets generally rose today as investors reacted to Trump's decision to keep Powell without naming a successor. Previously, Trump was rumored to have considered replacing Powell with Scott Bessent, the current Secretary of the Treasury, as the current Fed administration did not deliver on his demands for rate cuts.
Mag. 7 stocks saw mixed results, with Tesla leading the pack while Amazon and Meta fell down. Nvidia made yet another all-time high share price of $171.37.
