Futures dip after report Trump mulls economic emergency; Treasury yields stand tall
Published On Jan 8, 2025, 7:41 AM
Futures for U.S. stock indices are down as investors react to a report about President-elect Donald Trump potentially declaring a national economic emergency. This may allow him to implement a new tariff program which raises concerns about inflation and global trade tensions. Additionally, rising Treasury yields are adding pressure on riskier stocks, with the benchmark 10-year Treasury yield reaching its highest in eight months. The markets are also awaiting employment data and Fed meeting minutes for economic indicators.
Stock Forecasts
SPY
Negative
The potential for Trump to declare a national economic emergency raises concerns about trade wars and inflation, likely leading to market volatility. Rising Treasury yields imply a shift toward safer assets, making equities less attractive. Immediate negative sentiment may continue.
QTUM
Negative
Stocks related to quantum computing faced severe declines after statements by Nvidia's CEO indicated the technology's practical applications are still far off, impacting investor sentiment in the sector.
TPR
Positive
Tapestry saw a slight increase after an upgrade by Barclays, indicating potential for positive movement following favorable analyst sentiments amidst a generally negative market environment.
Related News
Credit rating agency warns of congressional debt limit stalemate despite GOP majority
Jan 7, 2025, 6:07 PM
Fitch Ratings released a report warning that Congress could struggle to raise or suspend the debt limit while also dealing with annual spending bills and an anticipated tax reform bill.
Stock futures are little changed after rate cut worries spurred a sell-off: Live updates
Jan 7, 2025, 6:03 PM
Stocks sold off in Tuesday’s regular session, spurred by profit-taking in Big Tech names and worries about the Federal Reserve’s rate cuts.
US job openings inch higher as hiring, quitting rates drop amid broader labor slowdown
Jan 7, 2025, 10:25 AM
The quits rate and hiring rate are now lower than they were before the pandemic.