17/04/2025 Evening Reports
US Futures Fall as Trump Attacks Fed, Trade Talks Offer Mixed Messages
- US stock futures pared earlier gains Thursday after President Donald Trump and Federal Reserve Chairman Jerome Powell engaged in a heated exchange of words over failing to cut interest rates quickly enough, casting a cloud over improving trade sentiment.
- S&P 500 and Nasdaq 100 futures rose around 0.5% after getting favorable sales guidance from chip giant TSMC but offset by a 21% decline in UnitedHealth and sector-wide losses among health insurers.
- Markets first rose on reports of a US-Japan trade negotiation breakthrough and hopes of wider tariff exemptions, though optimism was tempered by Trump’s tariff threats and attacks on Powell as “always TOO LATE AND WRONG.”
- Investors are watching Powell’s dovish approach.
- The dollar edged up, Treasury yields rose, and gold reduced earlier gains.
- Oil increased as the US pledged to reduce Iranian energy exports.
- Meanwhile, Bank of America earnings beat expectations, Eli Lilly surged on weight-loss pill news, and Hermès fell on weak Chinese demand.
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