A trader works on the trading floor of the New York Stock Exchange on August 4, 2022.
Source: New York Stock Exchange
Stock futures edged lower in overnight trading Thursday as the S&P 500 hit a record closing high after President Donald Trump called for lower interest rates and crude oil prices.
Futures on Dow Jones Industrial Average Down 35 points. S&P 500 Index Futures and Nasdaq 100 Futures Both edged down 0.1%. earlier, S&P 500 Index The closing price was the first since December 6.
Stocks rise Thursday after Trump’s election explain He will “demand an immediate cut in interest rates” when addressing world leaders in Davos, Switzerland. The president also said he would ask Saudi Arabia and other OPEC countries to lower oil prices.
“Trump’s speech in Davos contained some ostensibly positive remarks (he called on OPEC to lower oil prices, asked central banks to lower interest rates, and reiterated previous promises to cut taxes and regulations), but little that was incremental or under his control. Within the scope,” Crisafulli, founder of Adam Vital Knowledge, said in a report.
Optimism about Trump’s pro-business policies has pushed risk assets higher this week following his inauguration. Investors also breathed a sigh of relief after Trump spent his first few days in the White House issuing only threats on tariffs rather than taking formal action.
All three major averages are on track for a positive second week. this Dow Chemical This week, U.S. stocks and the S&P 500 rose 2.5% and 2% respectively, while the technology-heavy index Nasdaq Index Up about 2.2%.
Investors are paying close attention 10-Year Treasury Bond Yieldhas been rising on the back of strong corporate earnings. BlackRock Chief Executive Larry Fink said Thursday Trump’s efforts to free up capital for the private sector May cause inflationary pressures And prompted the benchmark 10-year interest rate to retest the 5% level.
“The better growth we are seeing in corporate America could help the 10-year Treasury yield find a bottom now,” Goldman Sachs managing director Chris Hussey said in a note to clients. “
