TLDR

MARKET RECAP → The S&P 500  (VOO) climbed Thursday, boosted by Nvidia (NVDA), but gains were capped as investors treaded carefully amid a flurry of legal developments tied to President Trump’s “reciprocal” tariffs.

POWELL STAYS NEUTRAL WITH TRUMP → 📉 Powell met with Trump but kept it strictly business—no rate talk, just a reminder that monetary policy isn’t swayed by presidential pressure.

AMAZON BUILDS ZEROONE TEAM → 🔧 Amazon tapped Xbox co-founder J Allard to lead a secretive new team building smart-home hardware from scratch—because what’s a few layoffs when you’re chasing “breakthrough” innovation?

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TODAY’S TOP NEWS

Powell Stays Neutral With Trump

📉 Fed Chair Jerome Powell met with President Trump but kept the conversation strictly noncommittal, reiterating that interest rate decisions will rely solely on incoming economic data—not politics.

📊 Despite Trump’s ongoing public pressure to slash rates, Powell emphasized that the Fed remains committed to objective and “non-political analysis,” echoing the central bank’s independence.

🕰️ Markets anticipated no immediate action, expecting the Fed to hold steady through the summer and possibly cut in September, as inflationary risks from Trump’s tariff policies loom.

TODAY’S TOP NEWS

Amazon Builds ZeroOne Team

🔧 Amazon launched a new innovation group called ZeroOne, led by Xbox co-creator J Allard, to build breakthrough consumer products from scratch, signaling a fresh push into hardware and software R&D.

🏡 The team—based in Seattle, San Francisco, and Sunnyvale—is hiring for roles focused on smart-home tech, computer vision, and rapid prototyping, with an emphasis on nimble, experimental teams.

📉 Despite this new initiative, Amazon continued trimming its broader devices division, laying off over 100 employees from teams like Alexa and Lab126, even as it doubles down on high-risk, high-reward innovation bets.

KEEP READING

Best Buy cuts profit outlook due to tariffs, says it already hiked some prices (CNBC)

Elon Musk thanks Trump, says he’s leaving government work with DOGE (CNBC)

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