Market Updates
NY WEDNESDAY
Barry Adams
26 Aug, 2025
New York City
Wall Street indexes extended recent losses, and investors soured after the U.S. president ramped up his attacks on the Federal Reserve.
The S&P 500 index decreased 0.2%, and the tech-heavy Nasdaq Composite dropped 0.3% amid growing realization that Donald Trump is looking to compromise the U.S. Federal Reserve's independence.
Earlier in the month, Trump fired the U.S. Bureau of Labor Statistics chief because the latest nonfarm payrolls data revisions highlighted the negative impact his administration's policy on the labor market.
The Trump's action to remove the head of one of the key data collection agency raises questions about the future credibility of the U.S. data under his administration.
The 10-year Treasury yield inched higher to 4.28% after Fed Chair Jerome Powell clarified that rate cuts next month are possible but not certain.
On the economic front, U.S. monthly durable goods orders declined for the second consecutive month in July, but the pace of decline slowed from the previous month.
Durable goods orders
U.S. Stock Movers
EchoStar Corp. soared 70% to $51.01 after the company agreed to sell its spectrum licenses for $23 billion to A&T.
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