The U.S. stock market looks set to extend yesterday’s record-breaking recovery.
Trump twisted the Fed’s arm, urging Powell to support the economy in the wake of coronavirus panic.
But a G7 statement today is expected to stop short of recommending co-ordinated easing attempts.
The Dow Jones notched up its biggest one-day points gain in history yesterday. And despite calls of a dead cat bounce, the momentum isn’t slowing yet. Dow Jones Industrial Average (DJIA) futures are up 270 points this morning.
The move upward comes as Trump twists the arm of the Federal Reserve. In the early hours of Tuesday, he urged chairman Jerome Powell to ease monetary policy and “cut big” to support the economy.
[The Federal Reserve] should ease and cut rate big. Jerome Powell led Federal Reserve has called it wrong from day one. Sad!
Dow futures up 279 points
Dow Jones futures contracts ripped higher on Tuesday morning, up 279 points at 5.54 am ET.