The Dow is up 2.8%, the S&P 500 is up 3.3%, and the Nasdaq is 4.1%. The reason? President Donald Trump says he will not be firing Fed Chair Jerome Powell.
Elon Musk says he'll spend more time managing Tesla and much less time working with the Trump administration to cut federal programs. This comes in after profits at Musk's electric car company came in 38% lower than estimated.