Stock Market Update
12-Jan-26 08:33 ET
Futures point to lower open amid Fed independence concerns
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: -36.00. Nasdaq futures vs fair value: -180.00.
The S&P 500 futures currently trade 36 points below fair value.
News that the Department of Justice is criminally investigating Fed Chair Jerome Powell has caused several notable moves in the market this morning.
Gold is back at record high levels, eclipsing the $4,600 per troy ounce level for the first time amid concerns of decreasing Fed independence.
Meanwhile, bank stocks such as Citigroup (C 117.00, -4.32, -3.6%) and JPMorgan Chase (JPM 321.98, -7.21, -2.2%) move lower, facing additional pressure after President Trump called for a one-year 10% interest rate cap on credit cards.
