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Jerome Powell, Tom Barkin, Jeff Schmid and Lorie Logan have said they'll wait for data before axing the interest rate—not what President Trump wants.

For the ultra wealthy, the market whipsaw presents opportunities. For average Americans? Not so much, state officials said.

Industrial supplier Fastenal (NASDAQ:FAST) met Wall Street’s revenue expectations in Q1 CY2025, with sales up 3.4% year on year to $1.96 billion. Its GAAP profit of $0.52 per share was in line with analysts’ consensus estimates.

Wells Fargo's profit beat expectations in the first quarter as the bank cut costs and set aside less money to cover potential loan losses, but its CEO warned on Friday that U.S. tariffs risk slowing economic growth. The U.S. bank's shares extended losses, dipping 3.6%, after it reduced expectations for its net interest income, the difference between what it earns and pays in interest. "We currently expect our full-year 2025 net interest income to be in the low end of the range," Chief Financial Officer Michael Santomassimo told analysts.

(Reuters) -JPMorgan Chase topped first-quarter profit estimates on record equities trading and higher fees from debt underwriting and advising on mergers, but the bank remained wary about a possible global recession this year. CEO Jamie Dimon, who warned this week of negative consequences from trade wars, maintained his cautious tone as corporate America navigates President Donald Trump's tariffs. "Clients have become more cautious amid an increase in market volatility driven by geopolitical and trade-related tensions," Dimon said.

Despite President Donald Trump's 90-day pause on most tariffs, markets are not out of the woods.

SINGAPORE/LONDON (Reuters) -The pain, said Shuntaro Takeuchi, was 10 out of 10. Not in the portfolio of Japanese stocks he runs out of Palo Alto, California, but in his appendix. The 10 trading days since U.S. President Donald Trump hit automakers with tariffs have been the most convulsive since the pandemic panic of 2020, as prices of stocks to bonds, oil, gold and even the U.S. dollar itself have swung wildly.

In response to a trade war that experts say will hurt contractors in both countries, some Canadian jurisdictions have blocked U.S. firms from bidding on government contracts.

The tit-for-tat retaliation between the U.S. and China could wipe out all bilateral trade between the the world's two largest economies.

Chinese bourses have set daily restrictions on net share sales by hedge funds and large retail investors, four sources said on Friday, as Beijing steps up support for its stock markets in an intensifying trade war with the United States. Two investor sources said a soft limit on daily net sales by individual hedge funds and big retail investors - implemented through verbal warnings from brokerages - had been set at 50 million yuan ($6.83 million). Failure to comply risked a suspension of trading accounts by the stock exchanges, which have issued the directive, two brokerage sources said.