Stock Futures Slip as Wall Street Seeks Clarity on Trump's Policies

New York (Jan 23)  Stock futures moved lower on Monday in the kickoff to week one of the Donald Trump administration.

S&P 500 futures were down 0.15%, Dow Jones Industrial Average futures fell 0.06%, and Nasdaq futures slid 0.2%.

Stocks traded mostly lower in recent days as investors grappled with uncertainty over Trump's policies, particularly on protectionist trade moves. Trump underlined his belief in "America first" in his inauguration speech on Friday, which could lead to higher tariffs for foreign companies and U.S. companies manufacturing overseas.

The coming week, the first under Trump's leadership, should shed a little light on what markets can expect going forward. The president and Republican officials have suggested that the repeal of the Affordable Care Act is high on the agenda, while Wilbur Ross, Trump's nominee for commerce secretary, has indicated the reopening of the North American Free Trade Agreement is also a top priority.

"A focus on rules of origin and dispute-settlement panels rather than punitive tariffs would be viewed positively, while greater detail on infrastructure spending and corporate tax reform plans would reinforce market sentiment as well," TD Securities analysts wrote in a note.

Trump and his team spent little time over the weekend detailing any substantive policy proposals. Instead, Trump and his White House Press Secretary Sean Spicer attacked the media and defended the crowd size at Friday's inauguration.

Crude oil prices were sharply lower even after upbeat comments from Saudi Arabia, a key player in the Organization of Petroleum Exporting Countries. Saudi Arabia's energy minister, Khalid al-Falih, said the 20 nations participating in a production cut agreement had so far shown "very good compliance."

Source: TheStreet