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Fed Firing, Durable Goods & Consumer Confidence
Tom White
August 26, 2025
U.S. stock futures are relatively flat ahead of the Wall Street open after falling on Monday.
Stocks weakened overnight after President Donald Trump announced his attempt to fire Federal Reserve Governor Lisa Cook from the board of the central bank. Cook swiftly rejected the dismissal, stating that Trump lacks the legal authority to remove her and vowing to continue her duties.
The news comes after investors became hopeful about the prospect of lower interest rates coming in September, as hinted at by Powell last week in Jackson Hole, Wyoming.
Traders will be focused on economic data today with reports due on Durable Goods, housing prices and Consumer Confidence.
Morning Movers
Snapshot (as of 7:15 AM ET)
Oil (/CL) – Oil prices are down over 1.5% near $63.60 a barrel after surging nearly 2% in Monday’s session as traders monitor developments surrounding the war in Ukraine and potential disruption to Russian fuel supplies.
Gold (/GC) – Gold prices are up 0.2% near $3420 and climbed to a more than two-week high on Tuesday, after U.S. President Donald Trump said he was removing Federal Reserve Governor Lisa Cook, a move seen by many as eroding the central bank’s independence and undermining confidence in U.S. assets.
Bitcoin (/BTC) – The Crypto Future is down 1.0% near $109,700 in the premarket.
VIX – The CBOE Volatility Index was up 4% on Monday and settled at 14.79 as stocks were lower.
U.S. Dollar (/DX) – The dollar is 0.2% lower to 98.
Biggest Premarket Movers
Symbol | Product | Mark % Change (as of 7:15 AM ET) |
|---|---|---|
AMD | AMD | +2.34% |
LLY | Eli Lilly | +2.11% |
HSIC | Schein Henry | +2.03% |
SW | Smurfit Westrock | -2.24% |
GNRC | Generac | -1.70% |
STZ | Constellation Brands | -0.93% |
Economic Data
Time | Event |
|---|---|
8:30AM ET | Durable Goods Orders Fed’s Barkin Speaks |
9:00AM ET | Case-Shiller Home Price Index FHFA House Price Index |
10:00AM ET | Consumer Confidence Richmond Fed Mfg. Index |
1:00PM ET | 2-Year Note Auction |
Notable Earnings
Premarket | Postmarket | Premarket Tomorrow | Postmarket Tomorrow |
|---|---|---|---|
BMO, BNS, BEKE, HDL | BOX, JOYY, MDB, OKTA, PVH | ANF, DCI, SJM, KSS, PLAB, RY, WSM | A, BILL, COO, CRWD, FIVE, GES, HPQ, NTAP, NTNX, NVDA, PSTG, SNOW, TCOM, URBN, VEEV |
Upgrades/Downgrades
Truist upgrades AMD (AMD) to Buy from Hold
Arete upgrades Qualcomm (QCOM) to Buy from Neutral
Canaccord upgrades Okta (OKTA) to Buy from Hold
BofA downgrades Constellation Brands (STZ) to Underperform from Neutral
Citi downgrades Generac (GNRC) to Neutral from Buy
New Street downgrades PDD Holdings (PDD) to Neutral from Buy
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