Futures indices on Wall Street are up on Friday, recovering from previous day losses, as investors eye President Donald Trump’s actions regarding the Federal Reserve (Fed), the US central bank. Trump named Stephen Miran to the Fed Board of Governors, with confirmation pending Senate approval. Miran will fill the term of Adriana Kugler, which ends in January. Additionally, rumors, reported by Bloomberg, suggest that Christopher Waller, current Fed governor, is a strong candidate to replace Jerome Powell as Fed chairman.
The ‘reciprocal’ tariffs imposed by President Donald Trump took effect at midnight on Thursday, with some of the highest rates including 41% on Syria and 40% on Laos and Myanmar. In the corporate field, after-market closing, Pinterest fell due to a profit drop, while Block jumped after reporting optimistic guidance. Check out the futures market performance:Dow Jones Futures: +0.16%S&P 500 Futures: +0.22%Nasdaq Futures: +0.26%
Asia-Pacific markets closed mixed on Friday, after two of the three main Wall Street indices gave back gains and closed lower. Japan’s Nikkei led gains in the region, rising 1.8% after the Japanese trade negotiator announced that the US agreed to end the so-called universal tariff buildup and reduce auto taxes.Shanghai SE (China): -0.12%Nikkei (Japan): +1.85%Hang Seng Index (Hong Kong): -0.89%Nifty 50 (India): -0.68%ASX 200 (Australia): -0.28%
European markets are up after the Kremlin confirmed that Russian President Vladimir Putin will meet with US President Donald Trump in the coming days, raising expectations for a diplomatic end to the war in Ukraine.STOXX 600: +0.20%DAX (Germany): -0.26%FTSE 100 (UK): +0.05%CAC 40 (France): +0.23%FTSE MIB (Italy): +0.65%
Oil prices are trading near stability but heading for their biggest weekly losses since late June, as investors express concern over the global economy impact of tariffs that came into effect on Thursday. Iron ore prices in China closed near stability on Friday, but recorded a weekly gain, supported by record steel exports from China, robust mill margins, and low stocks.WTI Crude Oil: -0.23% at $63.73 per barrelBrent Crude Oil: -0.14% at $66.34 per barrelIron ore traded on the Dalian Exchange: +0.06% at 773.50 yuan ($107.71)
Bitcoin (BTC) is down 0.48% at $116,540.77 (compared to 24 hours ago) (With Reuters and Bloomberg)
