Market Reaction to Trump’s Fed Governor Ouster and Nvidia Earnings Anticipation

US stock futures edged lower after former President Donald TRUMP announced the removal of Federal Reserve Governor Lisa Cook. Dow Jones Industrial Average (YM=F) and S&P 500 (ES=F) contracts dipped 0.1%, while Nasdaq 100 (NQ=F) futures slid 0.2%. The dollar weakened as markets adopted a cautious stance overnight.

The MOVE follows a week of political tension surrounding Cook, with allegations of mortgage fraud clouding her tenure. Investors remain in a holding pattern, weighing the implications for monetary policy ahead of Jerome Powell's Jackson Hole speech last week, which fueled expectations for a September rate cut.

Meanwhile, Wall Street's focus shifts to Nvidia's earnings report due Wednesday. The chipmaker's stock has surged 34% year-to-date, with sky-high expectations for its AI-driven performance. Korean Air's $15 billion Boeing order, announced after Trump's meeting with South Korea's president, failed to offset broader market uncertainty.