MARKET RECAP → Stocks closed mixed on Tuesday as Trump knocked China again, a swift reversal from yesterday’s nod!

🏦 POWELL HINTS AT A PAUSE → Fed Chair Jerome Powell said the central bank’s balance-sheet tightening may end soon but gave no rate clues, easing markets as traders eye potential cuts ahead.

💰 ECONOMIC MOOD GAP → A new survey finds wealthy Americans feeling upbeat while low-income households struggle with costs—showing how inflation and inequality split the nation’s economic outlook.

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🏦 Tightening nearly done. Federal Reserve Chair Jerome Powell signaled the central bank’s balance-sheet reduction program may end “relatively soon,” suggesting quantitative tightening (QT) is nearing its final stretch after two years of runoff.

💬 Rates still in limbo. Powell offered no explicit guidance on the path of interest rates, emphasizing data dependence while noting inflation has cooled and labor markets are “normalizing.” Futures now price in higher odds of a December rate cut.

📉 Markets breathe easier. Treasury yields dipped and equities rose modestly after Powell’s remarks, as investors interpreted them as dovish—an early sign the Fed could soon shift from tightening to steadying.

💰 Two economies, one country. A new survey shows a huge divide between how high- and low-income Americans view the economy. While 68% of high earners (making over $100K) say their finances are in good shape, only 27% of low earners feel the same.

📉 Inflation scars linger. Lower-income households report that rising rent, groceries, and credit card debt have erased wage gains. Meanwhile, wealthier Americans benefited from higher asset prices, stock market gains, and cheaper borrowing access.

⚖️ Confidence split widens. The gap highlights an uneven recovery: consumer sentiment among lower-income groups has fallen to near post-pandemic lows, even as GDP growth and unemployment data paint a healthier macro picture.

DOJ seizes $15 billion in bitcoin from massive ‘pig butchering’ scam based in Cambodia (CNBC)

Jamie Dimon says auto company bankruptcies reveal ‘early signs’ of excess in corporate lending (CNBC)

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