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Barchart
Rich Asplund

Stocks Pressured by Fed Jitters but Supported by Chip Makers

The S&P 500 Index ($SPX) (SPY) today is up by +0.02%, the Dow Jones Industrials Index ($DOWI) (DIA) is down by -0.04%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up by +0.01%.  September E-mini S&P futures (ESU25) are down -0.06%, and September E-mini Nasdaq futures (NQU25) are down -0.10%. 

Stock indexes today are little changed.  Fresh concerns over the Fed's independence are weighing on stocks and the dollar after President Trump moved to fire Fed Governor Lisa Cook, citing "sufficient cause" based on allegations she made false statements on one or more mortgage loans.  Ms. Cook said she will not resign, and her lawyer pledged to take "whatever actions are needed to prevent" the president's "illegal action." 

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