US Stocks Edge Up on Fed Chair Speculation; HashKey Token Soars After Listing

[Zeekiel]

U.S. equities saw modest gains on Thursday, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all posting slight increases. This upward movement was largely driven by a growing bullish sentiment related to President Donald Trump's perceived efforts to replace Federal Reserve Chair Jerome Powell. Investors are betting on increased odds of interest-rate cuts by the U.S. central bank if a new leader is appointed who aligns more closely with the administration's desires for lower rates.

President Trump has continued his vocal criticism of Jerome Powell, labeling him "terrible" and "stupid" for maintaining steady interest rates. Following Powell's recent testimony before lawmakers, reports indicate that Trump is narrowing down his choices for a new Fed Chair and could announce his pick as soon as this summer, well before Powell's term officially concludes in May 2026. The list of potential successors reportedly includes individuals like former Fed Governor Kevin Warsh and National Economic Council Director Kevin Hassett, among others, with the market seemingly anticipating a more dovish monetary policy should one of these candidates take the helm.

In parallel, the cryptocurrency market witnessed a significant event as the HashKey Platform Token surged by an impressive 62.69% within 24 hours. This sharp increase is primarily attributed to its recent listing on BingX Spot, underscoring the immediate and substantial impact that new exchange listings can have on a token's price and liquidity. Such listings often bring increased visibility, trading volume, and accessibility to a wider pool of investors, leading to rapid price appreciation.

The interplay between political developments, monetary policy expectations, and the highly volatile cryptocurrency market continues to shape investor sentiment. As the potential for leadership changes at the Federal Reserve looms and new digital assets gain traction through exchange listings, how will these diverse forces continue to influence global financial landscapes in the coming months?