Powell pressure, tariff coordination and chip transit rules lead the closed-market agenda

U.S. markets were closed for the weekend, leaving QQQ at the prior close of 554.21 and SPY at 623.61. White House adviser Kevin Hassett said a president could fire Federal Reserve Chair Jerome Powell with sufficient cause, while the Fed separately answered criticism over renovation overruns. The EU sought coordination with Canada and Japan on U.S. tariffs as China said both sides were implementing the London trade framework. Malaysia began requiring permits for U.S.-origin AI-chip shipments to China. Amazon-related U.S. online sales rose more than 30% during the Prime Day period.