Stock futures climbed on Monday evening after a tough day for Wall Street, fueled by President Donald Trump’s recent comments about Federal Reserve Chair Jerome Powell. Futures for the Dow Jones increased by 122 points, roughly 0.3%, while S&P 500 and Nasdaq 100 futures both rose nearly 0.4%.
The gains came after a significant downturn during the day. The Dow experienced a drop of over 970 points, with the S&P 500 and Nasdaq Composite also falling by more than 2%. This marked the fourth consecutive day of losses for both the Dow and Nasdaq.
Investor confidence dipped as Trump expressed doubts about the economy’s strength unless the Federal Reserve cuts interest rates. He referred to Powell as "Mr. Too Late" and a "major loser," certainly adding tension to an already volatile market. Recently, there was even talk about potentially terminating Powell, a move experts say is practically impossible under current laws.
Market fluctuations have intensified since Trump announced "reciprocal" tariffs earlier this month, pushing the three major indexes down by over 9%. Larry Tentarelli, founder of the Blue Chip Daily Trend Report, highlighted the heightened uncertainty surrounding tariffs and their influence on economic stability. He noted that Trump’s remarks about Powell only add to market unpredictability.
On Tuesday, all eyes will be on the upcoming manufacturing survey results from the Richmond Fed, along with speeches from various Federal Reserve officials, including Philip Jefferson and Neel Kashkari.
Earnings reports from big companies could also sway investor sentiment. Lockheed Martin is set to release its figures before the market opens, while Tesla’s quarterly financial update is highly anticipated after market close.
In light of the recent turbulence, it’s clear that investors are navigating a tricky landscape. As such, understanding the potential impacts of financial leadership—like that of Powell—and economic policies is more crucial than ever. For more in-depth analysis on economic trends, you may want to check out the Federal Reserve’s resources here.
Source link
Breaking News: Markets,Stock markets,Markets,United States,Jerome Powell,Donald Trump,Lockheed Martin Corp,Tesla Inc,Dow Jones Fut (Mar'23),S&P 500 Fut (Mar'23),NASDAQ 100 Fut (Mar'23),Dow Jones Industrial Average,S&P 500 Index,NASDAQ Composite,Neel Kashkari,business news