U.S. equity futures nudged up after a volatile start as investors assessed comments from President Donald Trump that he was confident in Treasury Secretary Steve Mnuchin and the American economy while the benchmark index sat at the edge of a bear market.
March contracts on the S&P 500 Index advanced 0.4 percent as of 9:48 a.m. in London, after swinging between a 1.1 percent decrease and a 0.5 percent rise. Futures on the Nasdaq 100 Index and the Dow Jones Industrial Average were also higher after fluctuating. The benchmark S&P gauge for American equities is only about 7 points from trading down 20 percent versus its Sept. 20 closing high. Major European equities markets were closed.
Trump’s expression of confidence in the Treasury secretary, Federal Reserve and economy on Tuesday hasn’t calmed markets, which were roiled after Bloomberg News reported that the president had discussed firing the central bank’s chairman over raising interest rates.