U.S. Stock Futures Slip as Trump Criticizes Fed
Stock futures are slipping as traders react to an escalation in political pressure on the Federal Reserve. The Trump administration's public criticism of Fed Chair Jerome Powel has renewed concerns about the independence of the central bank. That dynamic has unsettled equity markets, particularly rate-sensitive and financial stocks, and pushed Wall Street futures lower.Banking stocks and credit card lenders also have taken early hits because of policy proposals such as a one-year cap on credit-card interest rates that could compress financial sector profitability.With key inflation data and the start of earnings season approaching, traders are monitoring how persistent inflation signals might influence the Fed's policy path, even as central-bank independence concerns loom large.In this backdrop, investors are directing some capital into traditional safe havens. Precious metals such as gold and silver have climbed to new highs on the back of heightened uncertainty, while the dollar has softened against major currencies as risk assets waver. European equities are modestly lower and Asian markets show mixed performance, suggesting that global risk appetite is being tested as political and policy risks take center stage.In pre-market trading, S&P 500 futures fell 0.52%, Nasdaq futures fell 0.70% and Dow futures fell 0.62%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Sun Country Airlinesup 14% after announcing a definitive merger agreement under which Allegiantwill acquire Sun Country in a cash and stock transaction at an implied value of $18.89 per Sun Country shareWalmartup 3% after announcing that it plans to launch a new experience that pairs Google'sGemini with Walmart and Sam's Club's assortmentUP AFTER PRELIMINARY EARNINGS -Soleno Therapeuticsup 3%DOWN AFTER PRELIMINARY EARNINGS -Shake Shackdown 2%DOWN AFTER TRUMP'S PROPOSAL FOR 10% CAP ON CREDIT CARD INTEREST RATES -Synchronydown 9%Capital Onedown 8%Citidown 3%American Expressdown 3%JPMorgandown 2%LOWER -Day One Biopharmaceuticalsup 20% after reporting preliminary Ojemda net product revenueAbercrombie & Fitchdown 18% after narrowing its FY25 guidanceUnitedHealthdown 1% after The Wall Street Journalthat the company used aggressive tactics to collect payment-boosting diagnoses for Medicare Advantage members
