Trump's Pending Fed Pick Cautions Wall Street Pre-Bell; Asia Off, Europe Up

06:17 AM EST, 01/30/2026 (MT Newswires) -- Wall Street futures pointed lower pre-bell Friday on Wall Street as traders awaited President Donald Trump's announcement, slated for Friday morning, of his pick for the next Federal Reserve chair.

Kevin Warsh, a former Fed governor, is the leading contender for next central bank chief, with Polymarket placing a 95% chance on Warsh getting the Trump nod.

In the futures, the S&P 500 fell 0.8%, the Nasdaq declined 0.9% and the Dow Jones was off 0.7%.

In morning hours, Bitcoin, silver and gold were retreating. Silver was testing $100 an ounce as a floor, and gold was skirting $5,000 on the downside.

Trading floors also await the 8:30 am ET release in Washington of the December producer price index (PPI), considered one precursor of consumer prices. The pundits project a 3% rise on year for the PPI-core, that excludes food and energy prices.

Asian exchanges traded mostly lower overnight, with a 2.1% decline in Hong Kong attributed to profit-taking after bull runs in January.

European bourses tracked moderately north midday on the continent.

Sandisk (SNDK) traded up 19.4% pre-bell after the maker of flash memory devices reported fiscal Q2 earnings and revenue above Street views, and issued upbeat guidance, late Thursday.

Deckers Outdoor (DECK) traded up 14.1% pre-bell after the footwear purveyor reported fiscal Q3 earnings and revenue above expectation overnight, and boosted guidance.

Exxon Mobil (XOM), Chevron (CVX), American Express (AXP) and Verizon Communications (VZ) plan to report earnings pre-bell, among others.

On the economic calendar, in addition to the PPI release, is the Chicago PMI at 9:45 am ET, followed by the Baker Hughes domestic oil-and-gas rig count at 1 pm.

St.Louis Federal Reserve President Alberto Musalem, and Fed Governor Michelle Bowman speak on Friday.

In premarket action, Bitcoin traded at $82,388, West Texas Intermediate crude oil traded lower at $64.65, and 10-year US Treasuries offered 4.26%. Spot gold traded for $5,067 an ounce.

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