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.

Wall Street opened the week on a risk-on footing, with the S&P 500 and the Nasdaq 100 extending record highs as strong earnings reinforced confidence in corporate America and investors continued to shrug off trade tensions.

High-profile criticism of some $700 million in cost overruns is said to be an effort to pressure Jerome Powell to quit.

Meanwhile, the odds of a cut coming at the next Fed meeting stand at less than 3%. Put another way, the market gives a 97% chance to the Fed standing pat when it meets in late July.

US Treasury Secretary Scott Bessent weighed in on the latest Fed drama, pointing to the "fear-mongering" around tariffs and the potential for higher inflation.

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.

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.

President Donald Trump’s renewed threats to remove Federal Reserve Chair Jerome Powell are intensifying legal and economic uncertainty, according to CNBC. Legal experts say Trump lacks clear authority to remove the Fed chair without cause,