U.S. stock futures rose early Tuesday after a sharp selloff in the previous session.
A trifecta of trade, earnings and economic outlook will drive equities this week. @KristenScholer has more in the Market Update. pic.twitter.com/djtp1Cta8e
— NYSE 🏛 (@NYSE) April 21, 2025
The selling pressure came after President Donald Trump criticized Federal Reserve Chair Jerome Powell and called for interest rate cuts. Futures on the S&P 500 climbed 0.9%.
Dow Jones Industrial Average futures were up 0.8%. Nasdaq 100 futures rose 1% ahead of the open. On Monday, the S&P 500 fell 2.4%.
#WATCH | US markets plunge as Dow drops 971 pts amid Trump’s attack on Fed Chair Powell, sparking fears over Fed independence.
"This is a self-inflicted wound; the tariffs war is confusing the market," says Anurag Singh of AnsidCapital.
Watch the full interview:… pic.twitter.com/SoOqGFW2R9
— ET NOW (@ETNOWlive) April 22, 2025
The Nasdaq Composite dropped 2.6%. The Dow slipped 2.5%, or 972 points. The Dow is down 9% so far this month.
Stocks To Watch | đź“ŠKeep an eye on these stocks as they set the market abuzz #StockMarket #StockMarketIndia #StocksToWatch pic.twitter.com/BQ9IqbPZDW
— ET NOW (@ETNOWlive) April 22, 2025
It is on track for its worst April since 1932, according to Dow Jones Market Data. Trump called Powell “a major loser” and said many people have been calling for preemptive rate cuts.
Stock futures gain amid Trump critique
S&P 500 now down 1.4%
Dollar index down 0.8%$TLT -1%
— Joe Weisenthal (@TheStalwart) April 21, 2025
Last week, Trump said Powell’s termination “cannot come fast enough.” This raised concerns he may look to replace the Fed Chair. “Yesterday’s market moves were the clearest sign yet of investor anxiety over the topic,” said Deutsche Bank strategist Jim Reid. There were early signs of a rebound Tuesday.
However, European and Asian markets were falling as they caught up with the Wall Street action from late Monday. The U.S. Dollar Index edged higher to 98.33. Longer-term bonds continued to struggle.
The yield on the 10-year Treasury note climbed to 4.42% early in the day. The 30-year Treasury yield hit a three-month high Monday and edged up again Tuesday. Investors will be watching earnings closely this week for signs of how Trump’s tariffs are impacting businesses and trade.
Tesla will report results after the close. 3M, Lockheed Martin, and Verizon Communications are among those releasing earnings before the open.
