President Trump reassured markets by stating he has no intention of firing Jerome Powell after advisers warned that such an action could cause market turmoil and destabilize financial markets. This clarification came despite Trump's prior criticisms of Powell and was intended to calm investor concerns and maintain Federal Reserve independence.

Following Trump's announcement that he would not fire Jerome Powell, U.S. stock futures surged significantly with Dow futures rising by 1.9%, S&P 500 futures by 2.6%, and Nasdaq futures by 3%. International markets, including those in Asia, also rallied, reflecting increased investor confidence.

Treasury Secretary Scott Bessent warned White House officials that any attempt to dismiss Powell could destabilize financial markets. His advice influenced Trump's decision to publicly reaffirm his support for Powell to avoid market disruption.

Insights from Treasury Secretary Scott Bessent about de-escalation in trade tensions with China contributed to the surge in U.S. stock futures along with Trump's reaffirmation of support for Powell, heightening positive market sentiment.

Despite the rally, the International Monetary Fund has downgraded global growth forecasts to 2.8%, which raises concerns about the long-term stability and growth prospects of the global economy, indicating underlying vulnerabilities remain.