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crypto.news 2025-06-12 17:57:25

Dow Jones inches up, S&P 500, Nasdaq gain as Trump pressures Fed

U.S. stocks climbed higher as softer inflation data improved the prospects of a Fed rate cut. U.S. stock indices erased early morning losses on hopes that a lower consumer price index reading might contribute to monetary easing. On Tuesday, June 12, the Dow Jones was up 0.17%, or 70 points, while the S&P 500 and the Nasdaq both gained 0.35%. Dow Jones Industrial Average heatmap | Source: TipRanks Low inflation data is still influencing trader sentiment, with many anticipating potential rate cuts following last month’s soft CPI figures. Still, the Federal Reserve has remained hesitant to lower rates, citing the potential inflationary effects of U.S. tariffs on major trading partners. This hesitation has been met with continued pressure from the White House. On Thursday, U.S. President Donald Trump reiterated that the Federal Reserve should cut rates by one point. While he clarified that he would not seek to fire Fed Chair Jerome Powell, he noted he might have to “force something” on rates. You might also like: Trump says he won’t fire Fed Chair Powell, but urges faster rate cuts Boeing loses 4.5%, Oracle hits ATH Dow Jones was weighed down by Boeing stock, which saw a significant decline after the deadly Dreamliner crash in India. Shares of the aircraft manufacturer were down 4.5%, as the latest crash compounded recent scandals involving the company. In 2024, the company faced a series of scandals , all starting with one plane that had its door ripped in mid-air. This led to whistleblowers exposing corner-cutting when it comes to safety, as well as attempted coverups. On the other hand, Oracle stock jumped 14% to an all-time high after its earnings beat Wall Street expectations. The firm revised its expected revenue for 2026 to $67 billion, up from the previous estimate of $66 billion. The reason for the revised forecast is the expected growing demand for its AI-powered cloud services. The revenue from its cloud service rose 14% quarterly, largely due to the built-in and integrated AI services the company provides. Read more: Inflation is up but below expectations. Will the Fed cut rates, and what does this mean for the crypto market?

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