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US stock futures jumped after President Trump said he has 'no intention' of firing Federal Reserve Chair Jerome Powell, easing fears on Wall Street that the central bank's independence was under threat. Futures attached to the Dow Jones Industrial Average (YM=F) popped 1.2%, while futures attached to the benchmark S&P 500 (ES=F) jumped 1.5%. Futures attached to the tech-heavy Nasdaq Composite (NQ=F) soared 1.8%. CBOT - Delayed Quote • USD As of 2:09:28 AM EDT. Market Open. YM=F ES=F NQ=F Trump told reporters from the Oval Office on Tuesday that...

By Hannah Parry is a Newsweek Live Blog Editor based in New York. Her focus is reporting on U.S. politics and society. She has covered politics, tech and crime extensively.Hannah joined Newsweek in 2024 and previously worked as an assistant editor at The U.S. Sun and as a senior reporter and assistant news editor at The Daily Mail. She is a graduate of the University of Nottingham. You can get in touch with Hannah by emailing h.parry@newsweek.com. Languages: English. Hannah Parry and Gabe Whisnant is a Breaking News Editor at...

Wall Street economists are tweaking their GDP growth estimates as new data trickles in, with Trump's tariff whipsaw still firmly in the background. The Atlanta Fed's GDPNow tool, which uses already released data to forecast the quarterly pace of economic growth, now projects that GDP fell by 2.2% in the first three months of the year, an improvement from its prior April 9 projection of negative 2.4% growth. The update follows Wednesday's retail sales data, which rose 1.4% in March, matching forecasts. The control group in the release, which excludes...

Gold futures (GC=F) rose to a fresh record on Friday as tariff threats sparked fears of an escalating trade war, while the stock market plummeted. Sticky inflation along with plummeting consumer sentiment prompted investors to continue buying up the safe haven asset. A weaker US dollar (DX-Y.NYB) has also supported higher gold prices. Gold futures surpassed $3,115 ahead of the Trump administration's reciprocal tariffs announcement on April 2. On Wednesday the President announced 25% levies on foreign-made autos . The yellow metal is up more than 17% over the past...

The recent market decline has prompted another Wall Street strategist to revise its S&P 500 forecast lower for 2025. On Friday, UBS Global Wealth Management head of US equities David Lefkowitz predicted earnings would come in weaker than previously expected, prompting a trim to the firm's year-end price target to 6,400 from 6,600 on the broad-based index. “We still believe that US stocks can recover and post gains for the year. However, recent economic weakness and our expectation that tariffs will be at the higher end of our base case...

The recently dubbed "Lag Seven" players are once again... lagging. After a brief comeback on Wednesday, fueled by the Federal Reserve, most of the major tech giants lost steam by late Thursday trading. The exceptions: Nvidia (NVDA) and Meta (META), which each rose a modest 0.8% and 0.7%, respectively, with less than twenty minutes left until the closing bell. Still, nearly all of the "Magnificent Seven" stocks are off by about 20% from their 52-week highs as risk-off sentiment pervades markets on the heels of greater policy and Fed uncertainties....

US stock futures rose as investors digested reassuring signals from Federal Reserve Chair Jerome Powell after the central bank held interest rates steady on Wednesday. Futures attached to the Dow Jones Industrial Average (YM=F) ticked up 0.2%. Futures attached to the benchmark S&P 500 (ES=F) and tech-heavy Nasdaq Composite (NQ=F) rose 0.3%. CBOT - Delayed Quote • USD As of 9:05:27 PM EDT. Market Open. YM=F ES=F NQ=F The Fed's decision to keep interest rates unchanged on Wednesday was expected on Wall Street, but markets rallied, driven by a sense...

The Federal Reserve kept interest rates unchanged in a range of 4.25%-4.5% at its March meeting on Wednesday and signaled it maintain its previously expected pace of cuts. Fed officials see the fed funds rate falling to 3.9% this year, on par with its previous December projection. The central bank also raised its respective projections for year-end PCE inflation and the unemployment rate. At the same time, it lowered its economic growth forecast, noting in the policy statement, "Uncertainty around the economic outlook has increased." 15 officials predict a rate...

Global currencies experienced significant declines on Wednesday as the U.S. dollar soared, spurred by the detention of President Erdogan's main political opponent in Turkey. This geopolitical move unsettled investors and sent the Turkish lira to unprecedented lows, prompting a noticeable shift towards safer assets.The ensuing drop in Turkey's lira reverberated through financial markets, impacting major currencies and spurring capital flows into the dollar. The euro, yen, and other currencies saw declines, while investors kept a close eye on the Federal Reserve's impending decision regarding interest rates.Market analysts, including Michael...

US stock futures held steady as Wall Street digested a second day of gains and braced for the Federal Reserve's next policy meeting. Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq Composite (NQ=F) remained flat. CBOT - Delayed Quote • USD As of 8:13:41 PM EDT. Market Open. YM=F ES=F NQ=F On Monday, stocks continued to recover from last week's sell-off, which saw the S&P 500 enter correction territory amid concerns about the US economy's ability to sustain President Donald...