Hey folks,
If the market felt a little jumpy today, it’s not your imagination.
There are two big things making traders nervous right now:
First… the brewing fight between Donald Trump and Fed Chair Jerome Powell.
Trump has publicly criticized Powell, calling him a “major loser” and suggesting his “termination cannot come fast enough.”
Here’s the thing, though…
Technically, a U.S. President can’t just “fire” the Fed Chair without cause.
The Federal Reserve is designed to be independent.
But if there’s pressure, if Powell resigns early, or if Congress changes the rules, it throws a giant wrench into the world’s biggest economy.
That’s a lot of ifs…
And you know what markets hate more than bad news?
Uncertainty.
Right now, it’s not about what happens.
It’s about the possibility that something unpredictable could happen — and that alone is enough to rattle stocks.
And we’re seeing that reflected in the index futures over the weekend and into today.
Second… earnings season is about to hit full blast.
Just this week, 121 companies from the S&P 500 are set to report.
That’s a huge chunk of the market — almost 25% of the entire S&P 500 — over and after all the other stuff that has been going on:
- the tariff talk
- inflation worries
- slowdown fears
At this point, everyone’s watching to see if corporate profits can still hold up.
Put those two together, and you’ve got a recipe for a market that’s going to stay a little twitchy…
At least until we can get some clarity about the future.
Bottom line:
Markets hate a mystery — and right now, we’ve got more than one.
Stay sharp,
—Geof Smith
P.S. One thing that isn’t a mystery right now? Gold’s setting up for a historic move!
I’m breaking down the full story — and my trading game plan — in the Great Gold Squeeze. Click here to watch now before it heats up even more.
