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US stock futures moved higher on Tuesday following a bruising day on Wall Street, marked by renewed criticism of Federal Reserve Chair Jerome Powell by President Trump.
Futures attached to the Dow Jones Industrial Average (YM=F) climbed 0.8%. Futures for the benchmark S&P 500 (ES=F) ascended 0.7%, while futures for the tech-heavy Nasdaq Composite (NQ=F) advanced 0.8%.
CBOT – Delayed Quote USD
As of 8:14:19 AM EDT. Market Open.
YM=F ES=F NQ=F
On Monday, stocks tanked as Trump took to social media to say that the US economy would slow unless Powell cuts interest rates now, calling the Fed Chair “Mr. Too Late” and “a major loser.”
Trump’s comments escalated growing tensions between the president and the central bank. Last week, after Powell warned on Trump’s tariffs and reiterated the Fed would take a cautious approach to reducing rates, Trump hit back with “Powell’s termination can’t come soon enough.”
For investors trying to keep up with Trump’s fast-moving trade policy, the rift adds another layer of stubborn uncertainty as to where the economy could go next. On that front, the US hailed progress on a trade deal with India as US Vice President JD Vance met with Prime Minister Narendra Modi.
Read more: The latest on Trump’s tariffs
Later on Tuesday, investors’ attention will turn to Tesla (TSLA) earnings, with the EV maker set to report its results after the bell.
Tesla has been contending with signs of slumping sales and waning demand as CEO Elon Musk’s role in the White House rattles its brand. Tesla shares fell nearly 6% on Monday and are down nearly 44% this year.
In other corporates, Verizon (VZ) shares dropped 3% in premarket trading on Tuesday after the telecom giant reported a larger-than-expected loss in wireless subscribers for Q1, hit by recent price hikes and stiff competition from rival promotions.
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Trump’s attacks on Powell add to uncertainty for stocks
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Earnings roll in from Verizon, Kimberly-Clark, Halliburton, GE Aerospace
Earnings results have been streaming in this morning. Here’s how some of the companies that reported are trading premarket:
Verizon (VZ) stock fell over 4% as higher prices and offseason promotions by AT&T (T) and T-Mobile (TMUS) resulted in softer wireless subscriber numbers than Wall Street expected.
Kimberly-Clark (KMB) shares also fell more than 4% after reporting mixed earnings. The maker of Kleenex tissues and diapers slashed its annual profit forecast and warned that tariffs would raise supply chain costs.
Halliburton (HAL) fell 1% after a slowdown in North American drilling activity weighed on the oilfield services provider’s first quarter profits. Tariffs are expected to drive up the cost of equipment for the Houston-based company.
GE Aerospace (GE) popped 2% after the jet engine maker beat Q1 profit estimates and reaffirmed its earnings forecast for 2025. Per Reuters, airplane shortages are driving demand for parts and services, a segment that accounts for 70% of GE’s revenue.
Later on today, investors will closely watch Tesla (TSLA) earnings for updates on Elon Musk’s role in government and the automaker’s new cheaper EV. Yahoo Finance’s Pras Subramanian previews what to expect here.
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Good morning. Here’s what’s happening today.
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Copper climbs to two-week high as weak dollar boosts metals
Copper (HG=F) climbed to a two-week high as London Metal Exchange trading resumed following the Easter break, with base metals benefiting from a recent dollar rout.
A softer greenback can support industrial commodities because it makes them cheaper for buyers in other currencies. A Bloomberg gauge of the dollar dropped to a 15-month low on Monday, when the LME was on the second of a two-day trading pause for the holiday. Copper rose as much as 1.6% on Tuesday.
Metals have had a turbulent April amid global trade turmoil unleashed by US President Donald Trump’s sweeping import tariffs. While that threatens economic growth — and demand for metals — the dollar weakness is lending support.
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Asian markets edge down, shaken by US selloff
Asian markets fell slightly on open and wavered around the flatline as Trump continues to rail against Jerome Powell and the Federal Reserve, weakening faith in US assets and leading to a broad sell-off.
Japan’s Nikkei 225 (^N225) and Topix (1631.T) hovered around the baseline. South Korea’s Kospi (^KS11) shed 0.3%, while the Kosdaq (^KQ11) inched lower. Australia’s ASX 200 (^AXJO) slipped 0.6%, weighed down by losses across the board. Hong Kong’s Hang Seng Index (^HSI) came in at 21,285, a dip of 0.5% from the previous close.
Bloomberg reports:
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Gold reaches new record as trade war pushes haven demand
Gold (GC=F) reached a fresh record late on Monday as President Donald Trump’s continued tariff trade war shakes global stability and weakens the US dollar, pushing investors to haven assets.
Bloomberg reports:
