Criminal Investigation into Fed Chair Powell Causes Stock Index Futures to Plunge
Written by Emily J. Thompson, Senior Investment Analyst
Source: seekingalpha
- Stock Index Futures Drop: Nasdaq 100 futures fell 0.88%, S&P 500 futures dropped 0.61%, and Dow futures declined 0.62% amid concerns over a criminal investigation into Fed Chair Powell, indicating heightened market anxiety regarding regulatory risks.
- Yield Fluctuations: The U.S. 2-year Treasury yield slipped to 3.53%, while the 10-year yield rose to 4.20% and the 30-year yield climbed to 4.87%, reflecting market uncertainty about future interest rate policies.
- Powell's Statement: Powell asserted that grand jury subpoenas from the DOJ are not based on legitimate legal concerns but rather punishment for the Fed's refusal to set rates according to Trump's preferences, exacerbating market worries about the independence of monetary policy.
- Market Reactions: In premarket trading, Newmont (NEM) rose 2.56% and Walmart (WMT) increased by 2.51%, while Synchrony Financial (SYF) fell 7.35%, indicating varied investor responses that could influence future investment strategies.
Analyst Views on NEM
Wall Street analysts forecast NEM stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for NEM is 102.05 USD with a low forecast of 72.00 USD and a high forecast of 120.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
12 Buy
3 Hold
0 Sell
Strong Buy
Current: 106.890
Low
72.00
Averages
102.05
High
120.00
Current: 106.890
Low
72.00
Averages
102.05
High
120.00
About NEM
Newmont Corporation is a gold company and a producer of copper, zinc, lead, and silver with operations and/or assets in the Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea regions. The Company's operations include Brucejack, Red Chris, Penasquito, Merian, Cerro Negro, Yanacocha, Boddington, Tanami, Cadia, Lihir, Ahafo, and NGM. The Brucejack operation includes four mining leases and six core mineral claims which cover 8,169 acres (3,306 hectares) and 337 mineral claims covering 298,795 acres (120,918 hectares). The Red Chris operation includes five mining leases which cover 12,703 acres and 199 mineral claims, encompassing an area of 164,903 acres (66,734 hectares). Penasquito includes 20 mining concessions for operations comprising 113,231 acres (45,823 hectares) and 60 mining concessions for exploration of 107,456 acres (43,486 hectares). The Merian operation includes one right of exploitation encompassing an area of 41,687 acres (16,870 hectares).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
