U.S. stock futures were down ahead of Thursday’s session following a market rally earlier in the day after President Trump dismissed rumors of plans to remove Fed Chair Jerome Powell. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were down 0.23%, 0.23%, and 0.24%, respectively, at 1:03 a.m. EDT on July 17.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
During Wednesday’s regular trading session, the S&P 500, the Nasdaq Composite, and the Dow rose 0.32%, 0.26%, and 0.53%, respectively.
Earlier in the day, stocks fell after reports suggested Trump was likely to fire Powell soon. However, equities rebounded after the president downplayed these reports, stating he was “not planning on doing it,” though he did add that he didn’t “rule out anything.”
On Thursday, traders will be monitoring Weekly Jobless Claims and the latest Retail Sales report for June.