Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday, Jan. 28, 2026. <\/p>\n
Michael Nagle | Bloomberg | Getty Images<\/p>\n
Stock futures fell Friday, a day after the S&P 500 posted a second consecutive losing session, but trimmed declines after President Donald Trump nominated Kevin Warsh<\/a> to succeed Jerome Powell as Federal Reserve chair. <\/p>\n Futures tied to the broad market index<\/a> were down 0.4%, and Nasdaq 100 futures<\/a> lost about 0.6%. Dow futures<\/a> dropped 188 points, or 0.4%. At one point, futures contracts were down around 0.8% each. <\/p>\n “I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best,” said Trump in a Truth Social post<\/a>.<\/p>\n Warsh’s selection was likely to ease concern about Fed independence because of his experience as a Fed governor and strong stance at times against inflation. While he is likely to push for lower rates in short term as Trump wants, the financial markets view him as someone who wouldn’t always follow the president’s direction and maintain credibility for monetary policy.<\/p>\n “Kevin Warsh’s nomination for Fed Chair is exactly what markets were hoping for, as he’s a steady hand, well known in market circles and is expected to maintain the independence of the central bank, which is critical for markets,” said Richard Saperstein, chief investment officer of Treasury Partners. “Most importantly, Warsh faces few hurdles when it comes to being confirmed by the Senate.”<\/p>\n Gold futures dropped more than 4%, while contracts tied to silver plunged 12%. Despite the declines, gold and silver remain higher over the past year by 80% and 209%, respectively. Treasury yields were steady after Warsh’s selection, another sign Wall Street was OK with Trump’s pick.<\/p>\n Stock futures weakened slightly after December’s core producer price index reading<\/a> came in hotter than anticipated. The index advanced 0.7%, while economists polled by Dow Jones had anticipated a 0.3% tick higher.<\/p>\n Apple<\/a> shares inched lower even after the company beat\u00a0fiscal first-quarter earnings<\/a> and revenue expectations, aided by a significant surge in iPhone sales. Data storage stock Sandisk<\/a>\u00a0popped 22% on the back of strong guidance. KLA Corp<\/a> lost 8% after guidance for non-GAAP gross margin in the fiscal third quarter came in light.<\/p>\n “This week brought the first wave of major tech earnings, with investors focused on results, guidance, and AI spending as a key market driver. … A clear theme is emerging, in our view,”\u00a0said Angelo Kourkafas,\u00a0senior global investment strategist at Edward Jones.<\/p>\n “Companies are ramping up AI related infrastructure spending, and markets are rewarding those that can turn these investments into earnings,” he added. “Firms without a clear monetization strategy are facing more scrutiny.” <\/p>\n He added that while the tech sector is still expected to deliver strong profit growth, it’s slowing from earlier quarters as other sectors accelerate. This development supports “what we see as this year’s key theme: a broadening of market leadership,” Kourkafas said.<\/p>\n","protected":false},"excerpt":{"rendered":"Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday,…\n","protected":false},"author":2,"featured_media":438987,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[11623,116,28,122,1072,12,63284,2938,40258,112,1536,63286,2474,63285,117,1538,18030,114,31279],"class_list":["post-438986","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-apple-inc","tag-breaking-news-markets","tag-business","tag-business-news","tag-donald-j-trump","tag-donald-trump","tag-dow-jones-fut-sep25","tag-jerome-powell","tag-kla-corp","tag-markets","tag-microsoft-corp","tag-nasdaq-100-fut-sep25","tag-oracle-corp","tag-sp-500-fut-sep25","tag-sp-500-index","tag-salesforce-inc","tag-servicenow-inc","tag-stock-markets","tag-visa-inc"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/438986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=438986"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/438986\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/438987"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=438986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=438986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=438986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}