The start of the US trading session has been positive for traders of Tesla and Microsoft.
American equities point to lower start after Trump tweet fury
On Monday, American equities slumped because Donald Trump gave out a series of devastating tweets over the weekend, thus provoking another round of political instability.
The S&P 500 futures headed south 0.54% being worth 2,741.25, while Dow futures went down 0.52% showing a result of 24,834.0. At the same time tech heavy Nasdaq 100 futures tumbled 1.40% hitting 6,945.50
On Sunday, Trump had Special Counsel Robert Mueller accused of hiring fanatic Democrats to investigate the hypothetic ties between Russia and the 2016 presidential campaign.
In another tweet, the US President shrugged off the very idea that ex-Deputy FBI Director Andrew McCabe had taken an opportunity to incriminate documents. By the way, McCabe was sacked on Friday, two days before his official retirement.
Market participants have been heavily influenced by shifting trade policy in Washington as well as a bunch of Trump administration departures. Early in the month the US President imposed duties on aluminum and steel imports that have powered trade war uncertainty. Additionally, the previous week he sacked Secretary of State Rex Tillerson, while Gary Cohn had to leave his post of the director of the National Economic Council due to his disagreement over the duties.
Financial markets are going to closely watch Wednesday, when the key US bank delivers its interest rate verdict. Market participants actually hope for an interest rate lift because Fed Governor Jerome Powell is expected to give his first press conference.
In the pre-market trade Nokia Corp ADR turned to be among the top notch performers, earning 0.52%, while Barclays PLC ADR tacked on 3.66% along with Unilever PLC acquired 0.17%.
In addition to this Facebook inched down 3.75% following news that political research company Cambridge Analytica dared to collect data on up to 50 million Facebook users without the social giant’s awareness, while Twitter Inc lost 2.67%.
During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
More tariffs were introduced
During the Asian trading session, the White House economic adviser Larry Kudlow announced the positive progress in phase one trade deal with China.
The Bank of Mexico is expected to cut its interest rate from 7.75% to 7.5% today at 21:00 MT time
Today, the oil prices may move on the release of crude oil inventories at 18:00 MT time.