Futures fall on Trump's
Send a link to a friend
[January 23, 2017]
By Yashaswini Swamynathan
stock index futures slipped on Monday as investors around the world
sought safe-haven assets such as gold and U.S. Treasuries in response to
the protectionist sentiments expressed by President Donald Trump in his
* Trump pledged to put "America first" by laying out two simple rules -
buy American and hire American.
* Wall Street has hit a series of record highs after Trump's election in
November as investors expected the economy to get a boost from his
proposals for tax and regulatory reforms and higher infrastructure
* However, investors are worried about the lack of detail on his
economic policies and the impact of his isolationist stance on world
* Trump has made it clear that he plans to hold talks with leaders of
Canada and Mexico to renegotiate the North American Free Trade Agreement
(NAFTA) and intends to withdraw from the 12-nation trade pact of the
* The dollar fell to a six-week low on Monday, while prices of
safe-haven gold rose.
* Wall Street ended higher, the first in over 50 years under a new
president, helped by a thrush of strong quarterly corporate earnings.
* Dow component McDonald's is expected to report results before market
opens and Yahoo after the close.
[to top of second column]
Traders gather for Keane Group, Inc.'s IPO on the floor of the New
York Stock Exchange (NYSE) in Manhattan, New York City, U.S.,
January 20, 2017. REUTERS/Stephen Yang
Nearly 65 percent of S&P 500 companies that have reported earnings so far have
beaten analysts' expectations, according to Thomson Reuters I/B/E/S.
* Halliburton slipped 0.27 percent to $56.30 premarket after the world's No. 2
oilfield services provider reported a bigger loss in the latest quarter.
* Perrigo was off 1.7 percent at $73.76 after Jefferies cut its price.
* No major economic data is scheduled for the day.
Futures snapshot at 6:58 a.m. ET:
* Dow e-minis were down 12 points, or 0.06 percent, with 17,626 contracts
* S&P 500 e-minis were down 3.5 points, or 0.15 percent, with 107,097 contracts
* Nasdaq 100 e-minis were down 10 points, or 0.2 percent, on volume of 19,127
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Anil D'Silva)
[© 2017 Thomson Reuters. All rights
Copyright 2017 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.