Tesla expected to post double-digit declines in earnings, sales. Fed chief Powell speech in focus as central bank independence worries grow. Top tail risks and most crowded trades.

The standoff between the men has led Trump to echo an idea first floated by Treasury Secretary Scott Bessent: the naming of a new Fed chair before the end of Powell’s term in May of next year. Trump said in late June that he could name a successor “very soon.”

Trump is ramping up his attacks on the WSJ days after suing them over an article in which they reported that Trump wrote a tawdry letter to Epstein in 2003.

• Why Bill Gross says investors need to ‘wake up’ to the risks of a shake-up at the Federal Reserve • The risks HSBC sees building in the dollar ‘bubble’ and what it could mean for global markets

A healthy crop of earnings helped European stocks bust out of a four-day losing streak on Thursday, Wall Street was watching Netflix and the dollar bounced after U.S. President Donald Trump quashed talk he was about to fire Fed head Jerome Powell.

Federal Reserve Governor Christopher Waller said policymakers should cut interest rates this month to boost a job market that looks to be weakening.

NEW YORK (AP) — Wall Street is drifting on Friday toward the finish of its third winning week in the last four, as more big U.S. companies deliver stronger profits for the spring than analysts expected.

Consumers' inflation expectations, by some measures, are also the highest in decades. Inflation has been above the Fed's 2% target for over four years, and the prospect of a dovish Fed under the stewardship of a new Trump-friendly Chair could keep it that way.