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Wall Street’s gyrations shook markets anew, with stocks wiping out losses to extend their best weekly rally since 2023. The rebound came as a selloff in longer-term Treasuries and the dollar abated, following a few chaotic days that underscored fears foreign investors are beating a retreat from American assets.

Volatility shows little signs of easing as concerns that President Donald Trump’s fast-evolving trade policy is not only shaking the global economy, but threatening the US status as the world’s safe haven. The S&P 500 jumped about2% on a report that a Federal Reserve official said the central bank is ready to help stabilize markets, if needed. US 30-year yields dropped, while still remaining up by 45 basis points since last Friday.

Not since the pandemic has there been this little clarity on the outlook for economies, markets and businesses, with China unleashing retaliatory measures and Trump pausing some levies only hours after they took effect. Variations of “uncertainty,” “unknowns” and “turbulence” arose again and again as three of the biggest US banks kicked off the industry’s earnings reports on Friday. JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said he expects “a kerfuffle” in Treasuries that prompts a Fed intervention.

Today's show features:

Bloomberg News Chief Wall Street Correspondent Sridhar Natarajan and Bloomberg Intelligence Senior Analyst for Global Investment Banks & Asset Managers Alison Williams on bank earnings
Paul Rice, Founder of Fair Trade USA, and author of "Every Purchase Matters: How Fair Trade Farmers, Companies, and Consumers Are Changing the World"
Gracelin Baskaran, Director of the Critical Minerals Security Program at the Center for Strategic and International Studies, and Bloomberg News metals and mining reporter Joe Deaux

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S&P 500 Notches Its Best Week Since November 2023

Bloomberg Businessweek

S&P 500 Notches Its Best Week Since November 2023