From our US team:
US stock futures fell Thursday after Wall Street endured another down session for tech stocks, as Apple (AAPL) results closed out a mixed bag of Big Tech reports for the week and investors awaited President Trump’s pick to lead the Fed.
Futures linked to the S&P 500 (ES=F) moved lower by about 0.6%, while Nasdaq 100 futures (NQ=F) slid 0.7%. Dow Jones Industrial Average futures (YM=F) fell roughly around 0.5%.
Focus is turning to Trump’s pick to succeed Fed Chair Jerome Powell, which the president said he would announce Friday morning. Former Fed Governor Kevin Warsh has emerged as the favourite, with Fed governor Chris Waller, BlackRock chief of fixed income Rick Rieder, and National Economic Council Director Kevin Hassett.
The announcement would come days after the Powell-led Fed’s first rate decision of 2026, in which it held rates steady, again infuriating Trump. Traders continue to expect roughly two quarter-point rate reductions before the end of the year, according to CME FedWatch.
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