S&P 500, Nasdaq Futures Rise After Stocks Dip Amid Trump's Jabs At Powell, Strong Yen Gives Nikkei A Volatile Start
U.S. stock futures rose on Monday night despite a rough start to the week for Wall Street, amid concerns over the Federal Reserve's independence and President Trump's criticism of Fed Chair Powell for not cutting interest rates. S&P 500 futures increased by 0.47%, Nasdaq futures by 0.51%, and Dow Jones futures by 0.45%. Meanwhile, Japan's Nikkei 225 experienced volatility due to a strengthening Yen, impacting export-reliant industries. Investors are also anticipating earnings reports from major companies like Tesla and Verizon.
U.S. stock futures rose Monday night even as Wall Street had a rough start to the week, amid growing concerns regarding the Federal Reserve’s independence, and President Donald Trump’s repeated attacks on Fed Chair Jerome Powell for not cutting interest rates.
The S&P 500 futures are up 0.47%, at 5,209, followed by Nasdaq futures at 18,010, up 0.51%, and the Dow Jones futures at 38,500, an increase of 0.45%. This comes despite the sharp selloff during the regular session on Monday morning.
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It’s another volatile start for Japan’s benchmark Nikkei 225. After opening down by 0.50%, the index mounted a recovery, before slipping back into the red, trading down by 109 points, or 0.32%, at the time of writing.
This is attributed to the strengthening Yen, which reached a 7-month high against the U.S. Dollar on Monday, weighing on Japan’s export-reliant industries, according to TradingEconomics data.
The U.S. Dollar Index (DXY) hit a fresh three-year low of 97.923 on Monday, a level it last saw in 2022. It, however, recovered in the latter half of the day and is now back above the 98 level. It currently trades at 98.47, up 0.16%.
Investors will be closely watching several large-cap stocks that are set to report their earnings today. This includes Tesla Inc. TSLA, SAP SE SAP, Novartis AG NVS, Verizon Communications Inc. VZ, and Lockheed Martin Corp. LMT, among several others.
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