Trump Backs Off Firing Fed Chair

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HEADLINES
What You Need To Know

President Trump said Tuesday he has "no intention" of firing Fed Chair Jerome Powell before his term ends in 2026, walking back earlier threats to remove him. Trump called media reports about firing Powell an overreaction, adding he simply wants the Fed to cut rates. Markets rallied after Trump’s remarks, calming fears that the president would disrupt the Fed’s independence. Powell, appointed by Trump in his first term, has said the president cannot legally fire him. Trump’s comments came after a volatile stretch in markets fueled by criticism of Powell's handling of interest rates.

Amazon and Nvidia said AI data center construction is not slowing, despite recession fears and Wall Street speculation. Amazon’s Kevin Miller called reports of project pauses "extrapolating to strange results," while Nvidia’s Josh Parker said compute and energy demand is still rising. At a Hamm Institute conference, executives emphasized long-term growth, with Anthropic predicting AI will require the equivalent of 50 new nuclear plants by 2027. Despite broader market volatility, both companies are doubling down on their AI infrastructure plans.

Alphabet reported stronger-than-expected first-quarter results, with revenue rising 12% to $90.23 billion and earnings per share hitting $2.81. Shares rose more than 5% after hours. Advertising remained a key driver, with search and YouTube ads both showing solid growth despite a slight miss in YouTube ad revenue. Google Cloud revenue grew 28% year-over-year, although it came in just below forecasts. Executives flagged Trump’s move to end the de minimis trade exemption as a slight headwind for ads in 2025. Alphabet also announced a major $32 billion acquisition of cybersecurity startup Wiz to strengthen its cloud offerings.

President Trump met Monday with the CEOs of Walmart, Target, and Home Depot to discuss the impact of his sweeping tariffs on retail businesses. The meeting, not listed on Trump’s public schedule, focused on trade concerns as tariffs threaten import-heavy supply chains. Afterward, all three companies described the meeting as "productive" and "constructive," with Trump also saying the discussions "went very well." No representative from Lowe’s, initially expected to attend, was present. Retailers are among the industries most at risk as Trump’s trade policies continue to reshape global sourcing and consumer pricing.

SPONSORED
The Future of Pickup Innovation 

The auto industry is shifting toward smarter, cleaner, and more efficient solutions — and Worksport Ltd (NASDAQ: WKSP) is aiming to lead that transformation in the truck accessory market.

Worksport designs and manufactures advanced tonneau covers for pickup trucks, helping drivers improve fuel efficiency, protect their cargo, and upgrade the look of their vehicles. But the company's bigger vision goes beyond truck bed covers. Worksport is also developing clean energy solutions, including a portable solar power system designed to work seamlessly with its truck accessories.

In 2024, Worksport made major progress. It expanded its product lineup with the launch of the premium AL4 tonneau cover and continued building momentum with new innovations like the upcoming HD3 model aimed at commercial fleets. The company also strengthened its distribution, growing online sales and expanding its dealer network to reach more customers across North America.

Financially, Worksport reported significant revenue growth and improved its cash position, setting the stage for bigger goals in 2025. Management expects continued product rollouts, higher margins, and a growing presence in both the auto accessories and portable energy markets.

Why It Matters The future of transportation is not just about electric vehicles. It is also about the supporting technologies that make vehicles more efficient, versatile, and sustainable. Worksport is carving out a niche in this space by blending practical truck accessories with clean energy innovation — giving consumers new ways to power their lifestyles both on and off the road.

As always, investors should do their own research. But Worksport’s story shows how even small companies are finding creative ways to meet the evolving demands of the modern driver.

UPCOMING
What You Need To Watch

On Tuesday, the Conference Board will release its Consumer Confidence data, providing insight into how Americans feel about the economy.
On Tuesday, the March JOLTs job openings report will be released, offering a look at labor market demand and hiring trends.
On Wednesday, the U.S. will release its first estimate of Q1 2025 GDP, giving an early read on economic growth to start the year.
On Wednesday, the March PCE inflation report will be released, providing the Fed’s preferred gauge of price pressures.
On Friday, the April jobs report will be released, offering a key update on employment, wage growth, and the strength of the labor market.

TIP
STAYING INVESTED

It is easy to get nervous when the market is volatile, but pulling out completely can do more harm than good. History shows that missing just a few of the best days in the market can drastically lower your long-term returns. Markets tend to recover when you least expect it, often snapping back while news still looks negative. Staying invested keeps you positioned for those rebounds. Instead of trying to predict every twist and turn, focus on holding quality investments and giving them time to work. Consistency during uncertainty is one of the biggest advantages an investor can have.

CHART
WHOLESALE STOCKS

TERM
RETAINED EARNINGS

Retained earnings are the profits a company keeps instead of paying out as dividends. They’re reinvested back into the business for things like expansion, paying down debt, or funding new projects. For example, if a company earns $100 million in net income and pays out $30 million in dividends, the remaining $70 million is added to retained earnings on the balance sheet. Investors look at retained earnings to see how management is using profits. A growing balance can be a good sign if the money is reinvested wisely—but if growth stalls, it might suggest the company isn't using its capital efficiently.