Stock futures edge up Tuesday, a day after Trump attack on Powell triggers major sell-off
CBSN
Dow, S&P 500 and Nasdaq futures are rebounding Tuesday morning, a day after the stock market took a hit. President Trump on Truth Social on Monday, renewed his criticism of Federal Reserve Chair Jerome Powellfor being "too late" to act, causing markets to major slump.
An hour before trading opened on Tuesday, Dow Jones futures were up 314 points, or .82%, S&P 500 futures rose 39 points, or .75%, while Nasdaq futures increased 147 points, or .82% — signaling a more positive outlook.
Yesterday the Dow fell over 1,000 points amid ongoing investor uncertainty about tariffs and the future of Powell's position as head of the central bank. National Economic Council Director Kevin Hassett last week said Mr. Trump and his team are studying whether Mr. Trump can fire Powell. While the outlook for leadership at the Fed remains unclear, analysts say that removing Powell would destabilize the United States' reputation on the world stage and set off a crisis in global financial markets.
