U.S. markets pointed lower on Sunday night as the Trump administration showed no signs of backing off on tariffs or Federal Reserve Chairman Jerome Powell.
He added that whether Trump has the authority to remove Powell is being explored, “But certainly, if there’s cause, he does.”
The yield on the 10-year Treasury edged down 0.6 basis point to 4.417%. Gold was flat at $3,364 per ounce, while the U.S. dollar was up 0.2% against the euro and down 0.12% against the yen.
U.S. oil prices rose 0.58% to $68.85 per barrel, and Brent crude climbed 0.16% to $70.79.
Key economic indicators are due in the coming week. The consumer price index will come out on Tuesday and the producer price index is due on Wednesday, offering fresh clues as to how much tariffs are impacting inflation.
Also on Wednesday, the Federal Reserve’s beige book survey of business and economic conditions will be issued, while retail sales will be available on Thursday, and housing starts come out on Friday. Those datasets will also provide insights into how consumers and companies are responding to tariffs.
Several Fed policymakers will speak this coming week amid intense pressure from the White House to lower interest rates.
