Futures for the Dow Jones Industrial Average are mixed following a fifth consecutive positive day for the index. Federal Reserve Chairman Kevin Warsh has suggested reducing the frequency of policy meetings, which could introduce more market volatility.
Minneapolis Fed President Neel Kashkari indicated that interest rates may need to rise, while Fed Governor Lisa Cook expressed readiness to act on rate hikes to combat inflation. In corporate news, Alphabet's shares fell 4% after the departure of Chief Scientist Jeff Dean, raising concerns about Google's AI leadership amid a reshuffle in its divisions.
Meanwhile, the White House has refunded approximately $100 billion in tariff revenue, benefiting companies like E.l.f. Beauty, which received $50 million to enhance marketing and reduce prices. Bank of America's CEO Brian Moynihan warned about the risks in leveraged financial markets following the Situational Awareness incident, suggesting a reevaluation of exposure to highly leveraged firms.
Lastly, Restaurant Brands International reported strong earnings driven by Burger King's performance, while Salad and Go filed for Chapter 11 bankruptcy due to ongoing challenges