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On September 18th, Nick Timiraos, the "Federal Reserve mouthpiece," stated: "When the Federal Reserve cut interest rates on Wednesday, it superficially looked like a routine monetary policy operation. The market reaction was relatively muted, and Chairman Jerome Powell largely avoided the heated disagreements sparked by the decision, despite it occurring against the backdrop of unprecedented political confrontation." The policy shift initiated by Powells rate cut on Wednesday may represent his last effort to demonstrate that an independent US central bank remains capable of guiding the economy in a complex environment, rather than surrendering its independence before officials more aligned with President Trumps priorities gain greater control. Powells term as chairman will end next spring. For the third time in his tenure, Powell attempted an extremely delicate maneuver: cutting interest rates not because a recession is imminent, but to prevent one.Nick Timiraos, the "Federal Reserve mouthpiece": This is the third time under Powells leadership that the Fed has begun cutting interest rates without facing a significant economic downturn. But given the more difficult inflation situation and political factors (the White Houses confrontational nature), the stakes in 2019 and 2024 will be different than they are now.New York Times CEO: Trump is using an "anti-media strategy."The Federal Reserve cut interest rates by 25 basis points as expected. Why did gold prices briefly rise before retracing all gains? Has the actual impact of previous interest rate adjustments truly lived up to expectations? The Futures Focus Timeline provides a summary.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: We are monitoring the impact of the US economic situation on Japan.

The Dow Futures drop following a strong week

Charlie Brooks

Jul 11, 2022 10:59

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After major benchmark indexes completed the week higher, U.S. stock futures dropped during Sunday evening trade as investors anticipated company earnings reports and important inflation data.


By 7:00pm ET (11:00pm GMT), the Dow Jones Futures were down 0.2 percent , the S&P 500 Futures were down 0.3 percent , and the Nasdaq 100 Futures were down 0.4 percent .


Ahead this week, market participants will concentrate on new CPI data, with the inflation rate predicted to hit 8.8 percent, the highest level since December 1981. Investors will examine, among other data releases, retail sales, manufacturing production, Michigan consumer mood, NFIB Small Business Optimism, consumer inflation expectations, producer pricing, export and import prices, and the New York Empire State Manufacturing Index.


PepsiCo Inc (NASDAQ:PEP) and Delta Air Lines Inc (NYSE:DAL) are scheduled to report earnings on Tuesday and Wednesday, respectively, while JPMorgan Chase & Co (NYSE:JPM), Morgan Stanley (NYSE:MS), Wells Fargo & Company (NYSE:WFC), and Citigroup Inc (NYSE:C) are scheduled to report earnings later in the week.


During trading on Friday, the Dow Jones Industrial Average sank 46.4 points, or 0.2 percent, to 31,338.2, the S&P 500 finished 0.3 points, or 0.1 percent, down at 3,894.4, and the NASDAQ Composite climbed for the sixth consecutive day, adding 14 points, or 0.1 percent, to 11,635.3. The Dow rose 1.4 percent for the week, while the S&P 500 climbed 2.7 percent and the NASDAQ gained 6.1 percent .


On the bond markets, 10-Year United States rates jumped to 3.08 percent.


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