U.S. stock futures rebounded on Tuesday following Monday’s selloff. Futures of major benchmark indices were higher in premarket.
President Donald Trump attacked Federal Reserve Chairman Jerome Powell on Monday via a Truth Social post. He called him “Mr. Too Late,” and urged the Fed Chair to cut rates preemptively.
This triggered a market selloff, raising concerns about the central bank’s independence and Trump’s interference with the monetary policy.
The 10-year Treasury bond yielded 4.40%, and the two-year bond was at 3.79%. The CME Group’s FedWatch tool’s projections show markets pricing an 89.5% likelihood of the Federal Reserve keeping the current interest rates unchanged in its May meeting.
| Futures | Change (+/-) |
| Dow Jones | 0.81% |
| S&P 500 | 1.00% |
| Nasdaq 100 | 1.01% |
| Russell 2000 | 0.98% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, rose in premarket on Tuesday. The SPY was up 1.06% to $519.32, while the QQQ declined 1.11% to $437.92, according to Benzinga Pro data.
Cues From Last Session:
Energy, consumer discretionary, and information technology sectors pulled the U.S. stocks down on Monday.
Shares of Tesla Inc. (NASDAQ:TSLA) fell around 5.8%, while Nvidia Corp. (NASDAQ:NVDA) lost about 4.5% on Monday. Amazon.com Inc. (NASDAQ:AMZN) shares dipped around 5% during the session.
Comerica Inc. (NYSE:CMA) fell despite reporting better-than-expected earnings for its first quarter on Monday.
After Monday’s close, the Nasdaq 100 was down 19.86% from its all-time high of 22,222.61 points. The S&P 500 index was 16.09% lower than its previous record of 6,147.43 points, and the Dow Jones was 18.09% below its 52-week high of 45,073.63 points.
| Index | Performance (+/-) | Value |
| Nasdaq Composite | -2.55% | 15,870.90 |
| S&P 500 | -2.36% | 5,158.20 |
| Dow Jones | -2.48% | 38,170.41 |
| Russell 2000 | -2.14% | 1,840.32 |
Insights From Analysts:
Senior economist Jeremy Siegel stated in his weekly WisdomTree note that “Markets show signs of tension.”
According to him, tariffs may drive a temporary bump in spending as firms and households rush to …