Crypto Markets Surge as Stocks Soar: Trump's Fed Feud Looms

The crypto markets are riding high as major stock indices blast off, fueled by killer earnings reports. But there's a catch – investors are on edge over President Trump's relentless attacks on the Federal Reserve.

U.S. stocks are popping off on fire-hot retail data. Thursday saw the Dow Jones Industrial Average skyrocket 180 points, a 0.4% jump. The S&P 500 wasn't far behind, climbing 0.48%, while the tech-heavy Nasdaq soared 0.79%.

Get ready for a wild ride with Netflix earnings. The streaming behemoth is set to drop some seriously impressive numbers, with earnings expected to hit $7.07 per share – a mind-blowing 45% higher than last year's same quarter.

The latest retail sales figures from the Commerce Department are straight fire, with a 0.6% monthly jump in June. That's a major comeback from May's brutal 0.9% drop. It looks like Trump's tariff policies haven't put a dent in consumer confidence just yet.

"The consumer is holding strong," declared JPMorgan Chase CFO Jeremy Barnum during Tuesday's earnings call. "Sure, there's a bit more stress among the lower income folks, but that's nothing new." He added that loan delinquency rates are right where they should be.

Inflation Fears Creep in and Shake Consumer Confidence

But hold up – these numbers don't account for inflation, which went through the roof in June. When you factor in the price hikes, consumer spending only crept up 0.3%, a far cry from May's 0.9% price drop. That's why traders are keeping a close eye on the Fed, which is under heavy fire from the White House.

"We've got to fight to keep the Fed independent," insisted Goldman Sachs CEO David Solomon in a Wednesday interview. Executives from JPMorgan Chase, Bank of America, and other banking heavyweights are singing the same tune.