Markets Surge on Powell Security, Easing Trade Tensions, and Tesla Pop — Bulls Defend the Line with Eyes on Key Levels
Wall Street roared back to life as sentiment turned sharply bullish after President Trump walked back his threats to fire Fed Chair Jerome Powell. Trump clarified that he has no intention of removing Powell, a move that helped restore confidence in the Fed’s independence — a cornerstone for investor trust in long-term monetary policy stability.
This easing of Fed tension comes alongside a softer stance on China from the White House. After jacking up tariffs on Beijing to 145%, Trump now says those tariffs will come down “substantially,” though “not to zero.” Treasury Secretary Scott Bessent further fueled optimism, suggesting the trade war with China is unsustainable and de-escalation is expected soon. These developments have been major tailwinds for equities, and bulls wasted no time capitalizing.
The Dow rallied 1,016 points to 39,186. The S&P 500 surged 129 to close at 5,287, while the Nasdaq shot up 429 points to 16,300 — all erasing Monday’s losses and then some. The $QQQ tech index bounced 2.6% to 444.48, followed by more strength in after-hours. Bulls now have their sights set on a resistance breakout at 468 and ultimately a run at the 200-day MA near 491 — a move that would signal a full reversal from the February downtrend.
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Tesla Rips as Musk Refocuses: DOGE Duties Down, Factories in Gear
Tesla stock (TSLA) jumped over 6% in premarket after delivering Q1 profits that beat very low expectations. While automotive revenue dropped 20%, and overall profits fell 71%, investors found hope in Musk’s decision to scale back his involvement with the Trump-led Department of Government Efficiency (DOGE). The backlash from those efforts had weighed heavily on Tesla, with protests and slumping sales mounting.
Now, Musk says he’ll spend “significantly less” time on DOGE starting in May, allowing him to return focus to his core ventures. While Tesla’s year-to-date stock performance remains bruised, this shift in leadership energy was enough to spark fresh buying.
Crude Climbs on Iran Sanctions, Inventory Drop
Oil prices rose after the U.S. issued fresh sanctions targeting Iran’s petroleum industry. Adding fuel to the rally, API data showed a 4.6M barrel drop in crude inventories last week. This adds momentum to energy stocks — and with inflation pressures possibly re-emerging, this is a space we’re keeping in our rotation.
Intel Layoffs? Still Bullish at OP
Reports surfaced that Intel (INTC) could slash up to 20% of its workforce — around 21,000 employees — after a 7% year-over-year revenue drop. But at OptionsPlayers, we remain bullish on INTC as a long-term value and turnaround play. Why?
Intel’s 18A chip process is a technological leap, and we’ve already seen how this kind of innovation is a precursor to stock momentum. Intel is reshaping itself to win the future of U.S.-based semiconductor leadership, and shakeups like these are often precursors to a leaner, more efficient rebound. If layoffs are confirmed, they could actually support margins and help reset expectations ahead of product ramp-up. OP’s members continue to target LEAPs and defined-risk swing setups here.
Earnings Radar: Boeing, IBM, Texas Instruments & More
Before the bell today, watch for reports from Amphenol (APH), TE Connectivity (TEL), and Vertiv (VRT). After the close, all eyes will be on IBM, ServiceNow (NOW), and chipmaker Texas Instruments (TXN). These names could offer insight into the broader tech and manufacturing sentiment amid global tension and dollar pressure.
Macro Movers: IMF Cuts U.S. Outlook, PMI & Home Sales Ahead
The IMF cut its 2025 U.S. growth outlook to 1.8%, citing the “negative shock” of escalating tariffs. Global growth was also revised down to 2.8%. However, markets are currently looking through this and betting on a soft landing — especially with Powell safe and tariff rollbacks teased.
Today’s key economic data includes:
- Building Permits (Mar) @ 8:30 AM ET
- S&P Global Manufacturing & Services PMI @ 9:45 AM ET
- New Home Sales (Mar) @ 10:00 AM ET
- Crude Inventories @ 10:30 AM ET
- Beige Book @ 2:00 PM ET
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