Australian shares are set to rebound after Wednesday’s retreat. Shares were higher in New York, recovering from an earlier swoon, after President Donald Trump denied he was poised to fire Federal Reserve chairman Jerome Powell.
The S&P 500 slumped early on reports that the president was likely to seek Powell’s ouster soon. Trump told reporters attending a White House event that he was “not planning on doing anything” to remove the chairman.
Source: https://www.afr.com/markets/equity-markets/asx-to-rise-wall-st-whipsaws-on-trump-s-attack-on-powell-20250717-p5mfio