---
title: "\"U.S. Stocks\" Misreporting Trump Manipulating Powell Causes Volatility, Nasdaq Closes at New High, Tesla Rises Over 3%"
description: "White House officials mistakenly reported that Trump would fire Federal Reserve Chairman Powell, causing fluctuations in the U.S. stock market. Trump later denied the report, and the three major stock"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/248852075.md"
published_at: "2025-07-16T20:12:20.000Z"
---

# "U.S. Stocks" Misreporting Trump Manipulating Powell Causes Volatility, Nasdaq Closes at New High, Tesla Rises Over 3%

> White House officials mistakenly reported that Trump would fire Federal Reserve Chairman Powell, causing fluctuations in the U.S. stock market. Trump later denied the report, and the three major stock indices ultimately rose. The S&P 500 index closed up 19 points at 6,263 points; the Dow Jones Industrial Average closed up 231 points at 44,254 points; the Nasdaq set a new closing high at 20,730 points. Tesla announced the launch of the six-seat Model YL in the fall, with its stock price rising by 3.5%. Major banks reported poor quarterly results, with Morgan Stanley and Bank of America seeing their stock prices decline, while Goldman Sachs' stock price rose nearly 1% due to better-than-expected performance

White House officials revealed to American media that President Trump is about to fire Federal Reserve Chairman Powell, causing a significant fluctuation in the U.S. stock market, with the S&P 500 index briefly turning negative. However, two hours later, Trump denied the report, and the three major U.S. stock indices ultimately rose. The S&P 500 index closed up 19 points or 0.3%, ending at 6,263 points; the Dow Jones rebounded, closing up 231 points or 0.5%, at 44,254 points; the Nasdaq set a new closing high, up 52 points or 0.3%, at 20,730 points.

Tesla (TSLA.US) announced on Wednesday evening that it will launch a six-seat Model YL in mainland China this fall, with no pricing disclosed, and the stock rose 3.5%. Nvidia (NVDA.US) rose on Tuesday after the U.S. approved the sale of new chips to China, briefly dipped in early trading on Wednesday, and ultimately rose 0.4%.

Large banks reported quarterly results for the second consecutive day, but the market was not very satisfied, leading to weak performance in bank stocks. Morgan Stanley (MS.US) and Bank of America (BAC.US) both declined, while Goldman Sachs (GS.US) reported a 22% increase in second-quarter earnings exceeding expectations, with stock trading revenue up 36%, and the stock rose nearly 1%

### Related Stocks

- [TSLA.US - Tesla](https://longbridge.com/en/quote/TSLA.US.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.