Market Tremors Follow Trump’s Fed Shakeup as Nvidia Earnings Loom

US equity futures dipped overnight after former President TRUMP claimed to oust Federal Reserve Governor Lisa Cook via Truth Social. The Dow (YM=F), S&P 500 (ES=F), and Nasdaq 100 (NQ=F) contracts slid 0.1%-0.2% as markets processed the abrupt leadership change amid existing mortgage fraud allegations.

Monetary policy uncertainty lingers after Fed Chair Powell's Jackson Hole speech fueled September rate cut bets. The dollar weakened while investors await clarity on the Fed's composition and direction.

Korean Air's $10B Boeing order emerged as the sole tangible outcome from Trump's meeting with South Korea's leader, leaving contentious 15% tariffs unchanged. Attention now pivots to Nvidia's Wednesday earnings - the AI chipmaker's 34% YTD rally has set stratospheric expectations.