Key Events
Pinned Post
The Trump trade looks to have temporarily run out of steam.
U.S. stock futures were pointing to losses early on Friday, continuing a drop started the previous day by producer-price inflation data and comments from Federal Reserve Chair Jerome Powell.
Dow Jones Industrial Average futures were down 216 points, or 0.5%. S&P 500 futures were dropping 0.6% and Nasdaq 100 futures were falling 0.8%.
Powell said the Fed didn’t need to be “in a hurry” to cut rates in prepared remarks for an event at the Dallas Regional Chamber in Dallas on Thursday. That came after the producer price index increased by an as-expected 0.2% last month.
“Powell seemed to put greater emphasis on the strength of the economy and how that allows the central bank to approach the upcoming policy decisions carefully, said ING analyst Francesco Pesole in a research note.
The yield on the benchmark 10-year Treasury note stood at 4.444% early on Thursday, broadly flat from the previous day.
