FX.co ★ US Futures Point to Losses at the Open

U.S. stock futures declined approximately 1% on Monday, with contracts for major indexes trending downward as traders returned from the extended weekend amidst renewed concerns about the Federal Reserve's autonomy. Market sentiment was negatively impacted following comments by National Economic Council Director Kevin Hassett, indicating that President Trump is considering the dismissal of Fed Chair Jerome Powell. These remarks followed Trump's social media post last Thursday, suggesting that Powell's removal "cannot come fast enough," as Trump persists in urging the central bank to reduce interest rates. This situation has heightened worries about the potential politicization of U.S. monetary policy and the possible undermining of the Fed's credibility. Concurrently, investors are keeping a close watch on trade tensions, with China cautioning nations against finalizing deals with the U.S. at its expense. Additionally, the investment community is bracing for a hectic week of corporate earnings reports, with key companies like Alphabet, Tesla, IBM, and Boeing among those set to announce their results.