Stock market today: Dow, S&P 500, Nasdaq futures edge up as Trump looks forward to Powell's replacement

June 25, 2025 04:33 PM PDT | By EODHD

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Stock market today: Dow, S&P 500, Nasdaq futures edge up as Trump looks forward to Powell's replacement — Image source: Kalkine Media

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US stock futures edged up as President Trump talked up his search for a successor to Federal Reserve Chair Jerome Powell. Futures attached to the Dow Jones Industrial Average (YM=F), and the benchmark S&P 500 (ES=F) rose 0.%. While contracts on the tech-heavy Nasdaq 100 (NQ=F) gained 0.2%. CBOT - Delayed Quote•USD (YM=F) Follow View Quote Details 43,356.00 - +(0.12%) As of 1:53:17 AM EDT. Market Open.

YM=FES=F NQ=F Advanced Chart The Wall Street Journal reported late Wednesday that the president's frustration with Powell's "wait and see" approach to interest rates has led him to consider announcing his pick to succeed the Fed chair in September or October. Powell's term ends in May 2026 and such an announcement would be far earlier than the typical three or four month transition period. Trump said earlier on Wednesday he is actively considering replacements for Powell, adding "I know within three or four people who I’m going to pick." Powell wrapped up two days of testifying before the House and the Senate, where he stressed to lawmakers the central bank is "well-positioned" to wait and see how Trump's tariffs are impacting the economy before reducing rates. Stocks wobbled throughout the day with the S&P 500 finishing just below a record high. Investors' jubilation from the day before, sparked by an end to hostilities between Israel and Iran, moderated even as Trump declared the conflict "over." Nvidia (NVDA), meanwhile, leaped to a record high.

The main event for Wall Street to end the week lands Friday with the release of the Fed's preferred inflation gauge, the Personal Consumption Expenditures (PCE) report. Investors will be watching closely for any signs that Trump's tariffs pushed prices higher.LIVE1 update Today at 1:40 AM UTC Rian Howlett Dollar loses ground to the euro, reaches lowest in over 3 years The dollar (DX=F) has hit a low against the euro that hasn't been reached in over three and a half years. Concerns over Trump's tariff impacts on US economic stability, combined with a loss of trust over the ability of the Fed to remain independent, have consistently applied downward pressure on the greenback. Reuters reports: Read more here. View Comments

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