Traders work on the floor of the New York Stock Exchange on August 4, 2022.
Source: NYSE
Inventory futures were lower in inventory trading Thursday after the S&A P 500 hit a record high after President Donald Trump called for lower interest rates and oil prices.
the future above Dow Jones Industrial Average Soaked 22 points. S&P 500 futures and Nasdaq 100 futures Both fell about 0.1%. Previously, S&P 500 The first record since December 6th came close.
Stocks got a boost Thursday after Trump said he would “demand that interest rates come down immediately” as he addressed world leaders in Davos, Switzerland. The president also said he would ask Saudi Arabia and other OPEC countries to lower oil prices.
“Trump's Davos speech included some positive lines on the surface (he called for OPEC to lower oil prices, asked central banks to lower interest rates, raised taxes and Adam reiterated his previous pledge to reduce regulation), but there was little under his control,” Crisafulli, founder of Adam Vital Knowledge, said in a memo.
Optimism about Trump's pro-business policies has driven higher risk assets this week since his inauguration. Investors were also relieved that in lieu of formal action in the first few days at the White House, there were only threats on the tariff front from Trump.
All three major averages are on track to post their second positive week. Dow And the S&P 500 gained 2.5% and 2%, respectively, this week, but tech-heavy Nasdaq Composite It has increased by about 2.2%.
Investors are taking note 10 year old financial yieldit's rising on the back of strong corporate earnings. BlackRock CEO Larry Fink said Thursday that Trump's efforts to unleash private sector capital could create inflationary pressures and prompt a retest of the benchmark 10-year rate at the 5% level. .
“The better growth seen in Corporate America may be contributing to the 10-year yield capability for now,” Chris Hussey, managing director at Goldman Sachs, said in a note to clients. I am.
