U.S. stock futures edged down on Wednesday, extending declines that pushed both the Dow Jones Industrial Average and S&P 500 off their record peaks.
As of 4:43 P.M. (GMT+7), Dow Jones Industrial Average futures eased by 0.15%, or 74.30 points, to 49,117.70 points, while S&P 500 futures slipped by 0.16%, or 11.40 points, to 6,952.30 points. Nasdaq 100 futures also fell by 0.20%, or 51.50 points, to 25,690.50 points
This week, investor focus pivots to major U.S. banks, with Bank of America, Wells Fargo, and Citigroup scheduled to release quarterly results. The earnings season began on a muted note when JPMorgan Chase’s figures on Tuesday fell short of expectations, triggering a selloff in its shares.
Market participants are also monitoring developments at the Supreme Court, which is reviewing a significant case challenging President Donald Trump’s tariff powers. The court left the current stance unchanged after its initial potential opinion day last week and is expected to issue its next decisions today.
Elsewhere, Trump’s attacks on Federal Reserve Chair Jerome Powell intensified on Tuesday, stoking debate about the central bank’s autonomy as the Justice Department launched a criminal probe into Powell’s conduct.
The high-profile investigation sparked backlash from the business community and members of the Republican party, raising fresh scrutiny over the Federal Reserve’s independence.
Financial stocks are also under pressure, following President Trump’s renewed call for a 10% annual cap on credit card interest rates. Shares of Visa and Mastercard fell on Tuesday as investors considered the ramifications for payment processors.
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