How market prices hang on a few syllables from the president of the United States.

I'm David Brancaccio in Los Angeles. The stock market is open with wind at its back. The Dow Jones Industrial average is up 1,100 points, 2.8%. The S&P is up 3.3%. The NASDAQ is up 4.1%. Market participants tell us, this is President Trump saying he's not going to fire the supposedly independent guardian of interest rates, Jerome Powell, at the Federal Reserve. It comes after the president had been casting shade on Powell for days, posting that Powell's termination could not come fast enough. Plus, Trump said he

foresees U.S.-China tariffs coming way down. Let's say good morning to Susan Schmidt, portfolio

manager at Exchange Capital Resources. Good morning. Wow. A couple phrases from the president,

and everybody gets a little spring in their step, everybody being market professionals.

You're watching that. Absolutely. And that's the kind of volatility we're seeing right now.

A couple choice phrases from President Trump and the administration, that gives investors a lot of

confidence. And we're seeing that rebound in the market this morning and expectations for better rosier picture ahead with those indices up over two and a half, three percent now as we're looking at this.

And investors really just turning 180 degrees on sentiment on this.

This is also still the season when companies report how they did in the first three months of this year and give hints about the road ahead. A lot of consumer-facing companies this week. I see Chipotle we're waiting on, Southwest Airlines, Pepsi Cola. These are all companies that are trying to figure out how, for instance, higher tariffs will affect biz.

That's right. And companies that don't really have a clear guideline yet, no one knows how

tariffs are going to impact them. Volatility causes problems for investors. They tend not to

like it, and that tends to have them move to the sidelines more often than not. We'll see what

happens here and how confident investors can be to get involved once we hear more about how consumers

might be handling this uncertainty as well. Analyst Susan Schmidt at Exchange Capital Resources.

Thank you so much. Thank you. The Financial Times talked to a half dozen companies that sell their products online as third parties on Amazon and Walmart.

Those companies have taken to filling warehouses in Canada with products made in China, essentially stocking up to wait out what they see as a temporary stretch of high tariffs.

Again, Trump told reporters yesterday he thinks U.S.-China tariffs

will come down substantially. They're at 145 percent now, but the president said yesterday,

quote, it won't be anywhere near that number. Bonds are up, allowing the 10-year interest rates

to drop to 4.29 percent. Elon Musk says he'll spend more time managing Tesla and much

less time working with the Trump administration to cut federal programs. This after-profits at

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