Futures Rise as Investors Eye Trump Visit to Fed

S&P 500 futures were little changed early Thursday as Big Tech companies reported a mixed bag of earnings Wednesday and investors again turned their attention to the ongoing feud between President Donald Trump and the Federal Reserve.

Futures for the Dow Jones Industrials reversed 192 points, or 0.4%, to 45,022.

Futures for the much-broader index acquired 3.25 points, or 0.1%, to 6,399.50.

Futures for the NASDAQ gained 66 points, or 0.3%, to 23,376.75.

Magnificent Seven megacap stocks Alphabet and Tesla reported their earnings after Wednesday’s bell.

Alphabet rose almost 4% after posting a second-quarter earnings and revenue beat, while Tesla was last down about 6% in volatile trading after investors were disappointed by a drop in auto revenue for the second straight quarter. IBM shares slipped nearly 6%, weighing on Dow futures, after the company’s second quarter software revenue missed expectations.

On the political front, the White House said that President Donald Trump will visit the Federal Reserve on Thursday, escalating his pressure campaign against Chairman Jerome Powell.

This is the first time in nearly two decades that an American president will be making an official trip to the central bank.

In Japan, the Nikkei 225 index gathered 1.6% Thursday, while in Hong Kong, the Hang Seng gained 0.5%

Oil prices picked up 65 cents to $65.90 U.S. a barrel.

Gold prices slid $27.60 to $3,370 U.S. an ounce.