Dow Futures Tremble after Ex-Advisor Unloads on ‘Chaotic’ Trump White House
Ex-Trump advisor Gary Cohn unloaded on the administration, alleging that it had descended into chaos amid fights over the US-China trade war. | Source: REUTERS / Joshua Roberts
The Dow is uncomfortably timid heading into the week’s penultimate trading session, as the US stock market digests comments from former White House economic advisor Gary Cohn that paint a picture of a “chaotic” Trump administration.
Dow Futures Shaky on Thursday Morning
Dow futures had spiked toward 25,800 earlier in the session, only to drop back below 25,675 before reversing course once more. As of 8:56 am ET, Dow futures had declined by 3 points or 0.01 percent, implying a minor gain of around 35.11 points at the open. S&P 500 and Nasdaq futures crept to small gains, rising 0.04 percent and 0.12 percent.
On Wednesday, the Dow raced to a 148.23 point or 0.58 percent gain, closing less than 300 points below 26,000. The S&P 500 surge 19.4 points or 0.69 percent to not only close comfortably above 2,800 but also to end the session at a four-month high. The Nasdaq also reached a new peak during the 2019 US stock market recovery, gaining 52.37 points or 0.69 percent to close at 7,643.4.
A Dismal GE earnings forecast, rumors of a criminal probe into Facebook, and more bearish economic data from China all weighed on US stock futures on Thursday morning, but Wall Street should weigh recent comments from former Trump advisor Gary Cohn carefully as it continues to breathlessly wait for the president to sign a new trade deal with China.