Stocks poised to pad gains after Trump administration eases investor fears
CBSN
Stock futures jumped after President Trump said Tuesday that he has no plans to oust Federal Reserve Chair Jerome Powell and signaled a willingness to ease trade tensions with China.
As of 8 a.m. EST, Dow futures were up 660 points, or 1.7%, signaling another sunny outlook for today's trading. S&P 500 futures rose 122 points, or 2.3% while Nasdaq futures increased 2.7%.
"The ratcheting down of the rhetoric from the White House allowed yesterday's improved demand for U.S. assets to continue at the outset of trading in Asia last night," said John Canavan, lead U.S. stock analyst for Oxford Economics.
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