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Stock impact report

US futures, precious metals fall after Trump says he is nominating Kevin Warsh to be next Fed Chair [Globe and Mail, The (Toronto, Canada)]

Freeport-McMoRan, Inc. (FCX) 
Last freeport-mcmoran, inc. earnings: 4/24 07:30 am Check Earnings Report
Futures for the S&P 500 and the Dow Jones Industrial Average were each 0.5% lower before the opening bell. Nasdaq futures were down 0.6%. The U.S. dollar also stabilized overnight and precious metals, which had been soaring past records almost daily, saw a big sell-off. Gold dipped 3.9% to $5,144 an ounce, while silver tumbled under $100 an ounce after falling 13%. That sent shares in big miners down, led by Hecla, which slid 12%. Newmont lost 8% and Freeport McMoRan retreated 5.9% in the early going. Prices for precious metals have been surging as investors look for safer investments while weighing a wide range of risks, including a U.S. stock market that critics say is expensive, political instability, threats of tariffs and heavy debt loads for governments worldwide. The U.S. dollar has seen its value sink over the last year because of many of the same risks that drove gold's price higher. Early Friday, the dollar was trading at 154 Japanese yen, up from 153.09 yen. The eu Show less Read more
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