Stock futures experienced a significant climb on Tuesday evening following President Donald Trump’s statement that he does not intend to remove Federal Reserve Chairman Jerome Powell from his position. Dow Jones Industrial Average futures increased by 664 points, representing a 1.7% rise. Futures tied to the S&P 500 gained 2%, while Nasdaq 100 futures surged 2.1%. This follows Trump’s earlier comments criticizing Powell, calling him a ‘major loser’ and demanding lower interest rates. Stocks had previously rallied, with the 30-stock Dow rising over 1,000 points, ending a four-day losing streak. The S&P 500 and Nasdaq Composite also jumped more than 2%. Treasury Secretary Scott Bessent’s comments hinted at a potential ‘de-escalation’ in the trade war between the U.S. and China, calming investor concerns. Despite the stock surge, investors remain cautious, flocking to safe-haven assets like gold, which has seen an 8% increase in April.
— new from CNBC
