- Dow Jones Industrial Average futures are up Thursday morning.
- Donald Trump is supposed to meet his advisers today to decide the fate of Dec. 15 tariffs.
- If the U.S. goes ahead with the tariffs, the stock market could take a hit today.
Futures on the Dow Jones Industrial Average (DJIA) are trading in the green early Thursday thanks to the Federal Reserve. The Fed believes that it would be a good idea to keep any interest rate hikes on hold through 2020, sending a wave of cheer through the stock market.
The Dow Jones managed to snap a two-day losing streak and finished slightly in the green Wednesday. This happened despite a clutch of negative from major Dow components. Lululemon, for instance, offered a tepid fourth-quarter outlook. The company expects to clock earnings between $2.10 and $2.13 per share during the busy holiday season as compared to the market’s expectation of $2.13 per share.
Boeing was dealt with another blow in the 737 MAX scandal, with the Federal Aviation Administration (FAA) deciding to keep the plane grounded until next year.
Chevron was another Dow component weighing on the index yesterday as it reported an $11 billion writedown. Analysts believe that the oil major’s decision could weigh on the overall market and reduce the S&P 500’s earnings by $1.32 per share. Any potential downside in these components could send the Dow lower today in case there is no positive news from the likes of Costco, Broadcom, and Adobe on the earnings front.
Dow futures point toward a bright day for the stock market
Dow futures are up 37 points, or 0.13 percent, to 27,961 points at 5.31 am ET. The pre-market action suggests that the Dow could break past the 28,000-mark if it manages to sustain this momentum on the back of positive earnings reports.
S&P 500 futures are also trading up by five points, or 0.15 percent, while…