As stock futures rise, investors shift focus to upcoming inflation data and potential leadership changes at the Federal Reserve. Former President Donald Trump is reportedly considering replacing Fed Chair Jerome Powell. Meanwhile, Chinese EV maker BYD slows production, Shell denies BP acquisition rumors, and oil prices rise after a sharp inventory draw.
Stock Futures Rise Ahead of Key U.S. Inflation Report
U.S. stock futures continued their climb Thursday morning. Dow futures gained 84 points (+0.2%), S&P 500 futures rose 14 points (+0.2%), and Nasdaq 100 futures advanced 74 points (+0.3%).
Markets remain optimistic after Powell’s congressional testimony and a reported ceasefire in the Middle East. Powell emphasized caution, noting inflation uncertainty tied to new tariffs. Friday’s PCE Price Index will be crucial for market direction.
As ING analysts put it: “Stock futures rise amid dovish tones from the Fed and easing geopolitical concerns.”
Trump Targets Powell as Stock Futures Rise
Donald Trump intensified his criticism of Federal Reserve Chair Jerome Powell, blaming him for unnecessary interest expenses. Trump said he’s narrowed down 3–4 potential replacements and hinted a decision could come by September—or sooner.
Analysts say such a move could shift Fed policy toward quicker rate cuts, aligning with Trump’s long-standing preference.
BYD Scales Back Production Amid Rising Inventory
BYD shares dropped over 2% after reports confirmed a cut in production and delayed factory expansion. The Chinese EV leader reportedly reduced output by one-third at several plants to manage rising inventory and protect margins.
Despite surpassing Tesla in 2023 EV sales, BYD now faces intense price competition and profitability challenges in China.
Shell Denies BP Takeover Rumors
Shell issued a statement firmly denying that it is planning to acquire British oil major BP. The company confirmed no talks have taken place and no offer has been made.
Under U.K. financial rules, this denial bars Shell from making a formal bid for six months unless a third party initiates a deal or conditions change.
Oil Prices Rebound on U.S. Inventory Drop
Oil markets saw gains for the second straight session after the U.S. Energy Information Administration reported a 5.8 million barrel decline in crude inventories. Brent rose 0.2% to $66.54, while WTI ticked up 0.1% to $65.00.
Gasoline stocks also fell, and implied demand hit its highest level since December 2021, reinforcing the strength of U.S. consumer activity.
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