BREAKING NEWS Minnesota health officials announce 5th Coronavirus-related death as positive tests hit 441 Full Story
SEVERE WX : Wind Advisory - Severe Thunderstorm Warning View Alerts
CLOSINGS: View Closings

Trump criticizes Powell; Stocks steady; Kohl's earnings

1. Trump on the Fed: President Donald Trump has again criticized Federal Reserve Chairman J...

Posted: Aug 21, 2018 11:32 AM
Updated: Aug 21, 2018 11:32 AM

1. Trump on the Fed: President Donald Trump has again criticized Federal Reserve Chairman Jerome Powell over his handling of monetary policy.

In an interview with Reuters, Trump said he is "not thrilled" with Powell for raising interest rates, arguing the central bank should do more to help the US economy.

"Markets have not particularly liked US President Trump's comments, seeing them as a threat to the independence of the central bank," said Paul Donovan, global chief economist at UBS Wealth Management.

The comments helped push the dollar lower against a range of global currencies. US government bond yields declined but have since stabilized.

US stock futures were holding steady on Tuesday.

2. More trade talks: Investors are also looking ahead to trade talks between the United States and China that kick off Wednesday in Washington.

The two sides are expected to discuss their trade relationship and escalating trade war. The next round of US tariffs on $16 billion of Chinese goods is scheduled to go into effect Thursday.

3. Global stock market overview: European markets were little changed.

The mood in Asian markets was mostly positive, with Chinese indexes posting gains. One top performer was Geely Auto — the owner of Volvo — which saw shares surge 7.5%.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

4. Earnings: Kohl's, JM Smucker, Coty and Toll Brothers will release earnings before the open. La-Z-Boy and Urban Outfitters will follow after the close.

Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now!

5. Coming this week:

Tuesday JM Smucker, Toll Brothers and Kohl's earnings
Wednesday Target, Lowe's and L Brands earnings
Thursday Alibaba, HP, Ross Stores and Gap earnings, US tariffs on 279 Chinese products take effect
Friday Foot Locker earnings, Federal Reserve chairman Jerome Powell speaks at the Economic Policy Symposium in Jackson Hole

Article Comments

Mason City
49° wxIcon
Hi: 50° Lo: 36°
Feels Like: 42°
Albert Lea
43° wxIcon
Hi: 44° Lo: 34°
Feels Like: 33°
46° wxIcon
Hi: 47° Lo: 36°
Feels Like: 39°
Charles City
50° wxIcon
Hi: 50° Lo: 36°
Feels Like: 50°
42° wxIcon
Hi: 44° Lo: 34°
Feels Like: 33°
Severe weather Saturday before the sun comes out
KIMT Radar
KIMT Eye in the sky

Latest Video


Weekend setup for rain, storms, and snow


Seniors give their best quarantine advice


Coronavirus claims Alden coffee shop


How Corona Impacts Weather Forecasts


Man Missing after boat accident


Minnesota girl's basketball all-star series highlights athletes without games


Chris' PM Weather Forecast 3/27


Neighbors Helping Neighbors Serves Rural Areas


Risk of Off-Label Medications For Covid-19


Going on a bear hunt!

Community Events