Thursday May 18th


US stock futures fall as Trump fears continue

U.S. stock index futures pointed to a lower open Thursday on concerns about President Donald Trump's future and his ability to deliver on his pro-growth agenda. Futures for the Dow Jones industrial average fell 66 points, while S&P 500 and Nasdaq futures dropped 5 points and 8 points, respectively. Dow futures fell more than 100 points earlier on Thursday. The Dow lost 370 points on Wednesday recording its worst day since September last year. Treasurys, meanwhile, staged their second-biggest rally of the year Wednesday, as expectations faded that Trump can get tax reform or fiscal stimulus through Congress this year, or maybe even next year. On the data front, Thursday will see the release of jobless claims and the Philly Fed Survey at 8:30 ET. On the earnings front, Gap, and Autodesk are all due to report after the market close. In Europe, the pan-European Stoxx 600 index was around 0.95 percent lower on Thursday. In Asia, the Shanghai Composite in China closed 0.45 percent lower, while the Nikkei in Japan closed 1.32 percent lower. In oil markets, Brent crude traded at around $51.27 a barrel on Thursday, down 1.8 percent, while U.S. crude was around $48.22 a barrel, down 1.73 percent. Gold prices extended its biggest one-day rally in nearly a year on Thursday to a more than two-week high, as uncertainty over the outlook for Donald Trump's presidency rattled stock markets, prompting a wave of risk aversion. Spot gold rose 0.03 percent to at $1,260.70 per ounce. U.S. gold futures were up 0.16 percent at $1,260.50 an ounce. Earlier it hit its highest since May 1 at $1,265.04.