CNBC Daily Open: Powell emphasizes that elections won't sway Fed's policy

Fed cuts rates by 25 ground points 
On Thursday, the U.S. Federal Reserve cut involvement rates by 25 ground points, oregon a 4th percent point, bringing the people scope to 4.50%-4.75%. At the Fed's quality conference, seat Jerome Powell told reporters helium would not resign if requested by Donald Trump, and that Trump does not person the powerfulness to occurrence oregon demote him. 

Momentum down markets 
U.S. markets continued advancing connected Thursday, propelled by postelection momentum. The pan-European Stoxx 600 scale added 0.62%. Hong Kong's Hang Seng index reversed gains to driblet astir 0.8% aft the island's cardinal slope reduced its involvement complaint by 25 ground points, successful lockstep with the Fed's move.

New fiscal stimulus expected from China 
China is expected to denote a new fiscal stimulus package erstwhile its parliament ends a five-day gathering connected Friday. Analysts deliberation the standard of enactment mightiness beryllium higher than initially planned due to the fact that of Trump's threats of tariffs – that mightiness spell arsenic precocious arsenic 60% – connected Chinese imports. 

Nissan's atrocious quarter 
Japanese automaker Nissan reported connected Thursday that it made a nett nonaccomplishment of 9.3 cardinal yen (around $62 million) during its fiscal 2nd quarter. Operating profit, which is however overmuch a institution makes earlier taxes and different charges, plunged astir 85% twelvemonth connected year. Nissan besides lowered its full-year outlook. Shares fell arsenic overmuch arsenic 10% earlier recovering slightly. 

 [PRO] Bitcoin mightiness deed $100,000 
Bitcoin surged to its highest price of much than $76,000 aft Trump won the U.S election. Analysts deliberation the cryptocurrency tin ascent further to reach the $100,000 milestone by the extremity of the year.

Wednesday's postelection rally, during which the S&P popped 2.53%, was the champion postelection determination successful the index's history, according to Deutsche Bank's Jim Reid, caput of planetary economics and thematic research. 

Some of that momentum carried implicit to Thursday. The S&P continued its beforehand and gained 0.74%. Tech stocks, specified arsenic Apple, Meta Platforms and Nvidia, rose, helping the Nasdaq Composite ascent 1.51% to adjacent supra 19,000 for the archetypal time. The Dow Jones Industrial Average, however, petered out. The 30-stock scale traded astir the flatline, weighed down by losses successful fiscal stocks.  

"The marketplace is signaling that a Trump medication would beryllium bully for maturation and hazard assets," said Scott Helfstein, caput of concern strategy astatine Global X ETFs, "but the operation of faster maturation with caller tariffs would beryllium inflationary." 

If ostentation resurfaces, the Fed's apt to enactment its manus successful lowering rates. That interest mightiness beryllium dampening investors' excitement successful the banal marketplace for now. 

Powell, successful yesterday's property conference, maintained that "the predetermination volition person nary effect connected our argumentation decisions." Still, the Fed would beryllium impacted by the decisions of the adjacent administration. 

"Just successful principle, it's imaginable that immoderate administration's policies oregon policies enactment successful spot by Congress could person economical effects implicit time," helium said. "Forecasts of those economical effects would beryllium included successful our models of the economy." 

Data from the CME FedWatch Tool suggests immoderate prudence is filtering into the market. According to the futures market, conscionable 30.4% of traders deliberation the Fed volition chopped rates again successful January. By contrast, 53% expect the Fed to support rates steady. Those percentages are contingent connected the cardinal slope lowering rates to 4.25%-4.50% successful December.

Of course, that's each prognostication, and we cognize however inaccurate polls and bets tin be.  

"By December, we'll person much data, I conjecture 1 much leader report, 2 much ostentation reports and tons of different data," Powell said. The Fed prefers hard numbers. In markets, arsenic successful different aspects of our lives, that's astir apt bully advice. 

— CNBC's Jeff Cox, Lisa Kailai Han, Hakyung Kim, Jesse Pound and Alex Harring contributed to this report.     

This communicative has been updated to clarify 53% of traders expect the Fed to support involvement rates dependable successful January, according to the CME FedWatch Tool.