Outlook 08/26: Stock futures are lower Tuesday, adding to a slide in the major averages to start the week, after President Donald Trump removed Federal Reserve Governor Lisa Cook from the board of the central bank. Trump’s unprecedented move adds to the pressure the president has been putting on the central bank’s independence. By law, a president may only remove Fed governor “for cause.” As a result, it is possible the matter will be challenged in the courts. In the immediate term, markets will probably get over the Cook news fairly quickly (assuming this is a discrete event and Trump doesn’t attempt to fire Powell), turning its attention back to Nvidia, the PCE, and jobs, but the Fed’s independence is undeniably being undermined, a process with negative long-term consequences.
ESU25 (SEP2025): YVAH 6479 YPOC 6472 YVAL 6465 GAP 6459
/ES Plan: Yesterday market closed bearish, and overnight continues on that way, moving below previous value, so these're the opening and initial balance options for current session:
