Stock Market Update

The stock market is now on track for a mixed opening as equity futures moved lower just before the open.

New York Fed President John Williams (FOMC voting member) said in a CNBC interview that if inflationary data moves as he expects, it would be appropriate to lower interest rates over time, but the Fed must be driven by data. Mr. Williams notes that if PCE inflation is 2.9%, he thinks 40-50 basis points of that figure are tariff related.

On the topic of Fed Governor Lisa Cook and her challenged firing by President Trump, Mr. Williams noted that Ms. Cook is highly respected but had nothing to say regarding the charges against her. 

Shares of NVIDIA (NVDA 182.21, +0.44, +0.2%) trade slightly higher in the pre-market as the market anticipates its earnings report after the close today.