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Stocks- U.S. Futures Point to Lower Opening Bell After Trump Tweet Storm

Published 03/19/2018, 06:44 AM
Updated 03/19/2018, 06:44 AM
© Reuters.  U.S. Futures pointed to a lower opening bell on Wall Street.

Investing.com - U.S. Futures were lower on Monday, after U.S. President Donald Trump unleashed a tweet storm over the weekend, sparking another round of political uncertainty.

The S&P 500 futures fell 14 points or 0.54% to 2,741.25 as of 6:42 AM ET (10:42 GMT) while Dow futures decreased 131 points or 0.52% to 24,834.0. Meanwhile tech heavy Nasdaq 100 futures was down 98 and a half points or 1.40% to 6,945.50

On Sunday morning, Trump accused Special Counsel Robert Mueller of hiring “hardened Democrats” to investigate a ties between the 2016 presidential campaign and Russia.

In another tweet, Trump dismissed the idea that former Deputy FBI Director Andrew McCabe had incriminating documents. McCabe was fired on Friday, just two days before his retirement.

Investors have been on edge lately over changing trade policy in Washington and a flurry of Trump administration departures. Trump imposed tariffs on steel and aluminum imports early in the month, which have risen trade war uncertainty. He also fired Secretary of State Rex Tillerson last week and Gary Cohn resigned from his role as director of the National Economic Council after disagreements over the tariffs.

Markets are also looking ahead to Wednesday, when the Federal Reserve delivers its interest rate decision. Traders are expecting an interest rate increase as Fed chair Jerome Powell gives his first press conference.

Nokia (HE:NOKIA) Corp ADR (NYSE:NOK) was among the biggest gainers in pre-market trading, rising 0.52% while Barclays (LON:BARC) PLC ADR (NYSE:BCS) surged 3.66% and Unilever PLC (NYSE:UL) inched up 0.17%.

Elsewhere social media sites took a hit amid data privacy concerns. Facebook (NASDAQ:FB) slumped 3.75% amid news that political research firm Cambridge Analytica collected data on 50 million Facebook users without their knowledge while Twitter Inc (NYSE:TWTR) fell 2.67%.

In Europe stocks were down. Germany’s DAX fell 116 points or 0.94% while in France the CAC 40 decreased 35 points or 0.67% and in London, the FTSE 100 was down 91 points or 1.28%. Meanwhile the pan-European Euro Stoxx 50 lost 25 points or 0.74% while Spain’s IBEX 35 slumped 64 points or 0.66%.

In commodities, gold futures inched down 0.05% to $1,311.60 a troy ounce while crude oil futures fell 0.34% to $62.20 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, decreased 0.11% to 89.70.

Latest comments

Damn, those Russian troll farms have been busy. Just look at this comment section.
Why is it a quote storm? That's editorializing isn't it? That sounds like the kind of thing I didn't hear from MSNBC or the Washington Post hacks. Let's look at the facts here. The leftists and DNC and Obama leftovers in the Deep state are running for cover like cockroaches when the lights are turned on. They have been busted for trying to rig an election in the United States of America. For those of you outside the country, understand that everyone here knows this. Some will go along with it such as CNN and CBS News, New York Times, and the Democrat Party faithful who will never admit to this. But they know, and everyone else who supported Trump or did not support Trump knows that they attempted to fix this election. Indictments of Hillary and others are probably forthcoming, and these people are running for cover and writing books and Memoirs to put out through their complicit Media Partners to try to misinform the public about what is happening here . A quick analysis of the facts will reveal that Trump is dead on correct in his assertions. In other words, it is not a tweetstorm it is a correction of the record that he is tweeting out so that minds are not influenced by the lying left-wing media. The investigation by Mueller is forever tainted buy the message used to get the warrants to investigate this president. None of this would ever hold up in a regular court of law with all of the nonsense that has gone on to try to game this FBI investigation, which was set up by the way by in Obama left over in the Justice Department named Rod Rosenstein. In summary, this is a proxy for Obama and Eric Holder trying to stay in power after their time is done. Leftists do not just leave power, they stay one way or the other to meddle in the politics of their successors. Trump is on to this, America is on to this, and it will not stand because this country is better than that. We believe in free elections in this country, and nobody has ever produced One voter who said their vote was switched from Hillary or anyone else to Donald Trump. In fact, there has been plenty of evidence that duplicate voting and other Shenanigans were discovered to produce more Democrat votes, more votes for Hillary using illegal means. There's no justification behind any of what's been going on, and some heads are going to roll... There will be some jail time for some of these people
I can't believe this is actually a new story. This is written like a tabloid or CNN Trump hit piece
Ridiculous. No facts, strictly opinion.
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