Economy
Major US Index Futures Open Higher After Tuesday’s Sharp Pullback
By Investors Hub
The major U.S. index futures are pointing to a higher opening on Wednesday following the sharp pullback seen late in the previous session.
Renewed optimism about upcoming U.S.-China trade talks may generate initial buying interest after a report from Bloomberg News said China is still open to reaching a partial trade deal with the U.S.
An official with direct knowledge of the talks told Bloomberg that negotiators aren?t optimistic about securing a broad agreement to end the U.S.-China war but said China would accept a limited deal as long as President Donald Trump does not impose any more tariffs.
In return, the official told Bloomberg, Beijing would offer non-core concessions like purchases of agricultural products without giving in on major sticking points.
The positive reaction to the report reflects the intense focus on the next round of high-level trade talks set to begin on Thursday.
Nonetheless, overall trading activity may be somewhat subdued as traders look ahead to the release of the minutes of the Federal Reserve?s latest monetary policy meeting.
The minutes may shed additional light on the Fed?s decision to cut interest by 25 basis points in September and provide clues about the outlook for future rate cuts.
After coming under pressure early in the session, stocks regained some ground over the course of the trading day on Tuesday before pulling back sharply going into the close. The major averages ended the day firmly in negative territory.
The Nasdaq and the S&P 500 fell to new lows in late-day trading, while the Dow remained off its worst levels. The Dow still slumped 313.98 points or 1.2 percent to 26,164.04, the Nasdaq plunged 132.52 points or 1.7 percent to 7,823.78 and the S&P 500 tumbled 45.73 points or 1.6 percent to 2,893.06.
Selling pressure re-emerged late in the session following news the Trump administration imposed visa restrictions on Chinese officials over abuses of Muslim minorities in the Xinjiang region.
The new visa restrictions come just two days before the U.S. and China are scheduled to resume high-level trade talks in Washington.
Optimism about the trade talks had already waned after a report from the South China Morning Post said China is subtly toning down expectations ahead of this week’s high-level negotiations.
The SCMP said Chinese Vice Premier Liu He is leading China’s delegation to Washington but will not carry the title of “special envoy” for President Xi Jinping, an early indication that Liu has not been given any particular instructions from China’s leader.
A source briefed on preparations for the trade talks also told the SCMP that the Chinese delegation may cut short their stay in Washington.
News the U.S. has expanded its trade blacklist to include some of China’s top artificial intelligence firms has also cast a shadow over the talks along with a Bloomberg report the White House is discussing blocking government pension funds from investing in China.
Meanwhile, traders largely shrugged off a Labor Department report showing an unexpected decrease in U.S. producer prices in the month of September.
The Labor Department said its producer price index for final demand fell by 0.3 percent in September after inching up by 0.1 percent in August. The drop surprised economists, who had expected another 0.1 percent uptick.
Excluding food and energy prices, core producer prices also slid by 0.3 percent in September after climbing by 0.3 percent in August. Economists had expected core prices to rise by 0.2 percent.
The tame inflation data may clear the way for the Federal Reserve to continue cutting interest rates amid signs of slowing economic growth.
In remarks at the National Association for Business Economics annual meeting in Denver, Colorado, Fed Chairman Jerome Powell reiterated his pledge to “act as appropriate” to support continued growth, a strong job market, and inflation moving back to the Fed’s symmetric 2 percent objective.
Powell also indicated that the central bank intends to resume increasing the size of its balance sheet following recent, unexpectedly intense volatility in wholesale funding markets.
Semiconductor stocks showed a substantial move to the downside on the day, dragging the Philadelphia Semiconductor Index down by 3.1 percent to its lowest closing level in over a month.
Chipmaker Ambarella (AMBA) posted a particularly steep loss after one of its Chinese customers was blacklisted by the U.S. government.
Significant weakness was also visible among natural gas stocks, as reflected by the 3 percent nosedive by the NYSE Arca Natural Gas Index. The index ended the session at a nearly fifteen-year closing low.
Biotechnology, computer hardware, and banking stocks also saw considerable weakness on the day, reflecting broad based selling pressure on Wall Street.
Meanwhile, gold stocks were among the few groups to buck the downtrend, with the NYSE Arca Gold Bugs Index surging up by 3 percent.
The rally by gold stocks came as the price of the precious metal moved to the upside in electronic trading after ending the regular session slightly lower.
Proprietary trading is becoming popular in Nigeria. Many people are looking for new income streams due to economic pressure. Prop trading gives Nigerians a way to trade global markets without risking their own funds.
What Is Proprietary Trading?
Prop trading means a company gives traders access to capital. The trader uses that money to trade financial markets such as forex, crypto, or commodities. The firm and the trader share profits based on performance.
Most prop firms test new traders using demo accounts first. These tests check how well a trader can manage risk and follow rules. Once a trader passes, the firm gives access to real funds.
Why Nigerians Are Joining Prop Firms
Many Nigerian traders do not have enough money to trade on their own. Prop firms solve this problem by offering funding after a short evaluation process. This model gives more people the chance to trade professionally.
Traders also prefer payouts in foreign currencies. With the naira falling, dollar income is a strong reason to join a prop firm. Prop trading also allows full-time or part-time participation, which suits students and workers.
Benefits of Prop Trading
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No large startup capital required – Traders use company money, not personal funds.
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Performance-based income – Earnings depend on skill, not background or connections.
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Remote access – Anyone with a laptop and internet can join, even from smaller towns.
Prop firms also offer clear rules and risk management systems. This helps traders stay disciplined and consistent. Many firms provide feedback, dashboards, and progress tracking tools.
Challenges in Nigeria
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Internet and power issues – These problems cause disconnections during trades.
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Payout and payment issues – Not all platforms support Nigerian banks or fintech apps.
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Fake prop firms – Some unregistered firms disappear with trader payments.
Traders must choose firms carefully. Reading reviews and joining forums can help avoid scams. Always verify if the firm has working support and a payment history with other Nigerians.
Popular Prop Firms for Nigerian Traders
Several international prop firms are open in this country. Some of the most trusted include:
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RebelsFunding.com – Offers forex, crypto trading with up to $600,000 funded accounts.
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MyForexFunds – Known for flexible rules and fast scaling.
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True Forex Funds – Has simple pricing and allows crypto withdrawals.
These firms test traders first with demo challenges. Once passed, the trader gets access to real capital and starts earning a share of profits.
To open an account with a legit prop firm, visit this verified list of prop companies.
The Role of Online Communities
Online groups play a big role in Nigeria’s trading growth. Telegram and WhatsApp groups offer tips, trade setups, and live signals. YouTube channels also teach strategies, often for free.
However, not all groups are helpful. Some sell poor-quality signals or fake mentorships. Traders must learn to check the results and avoid blindly following others.
What’s Next for Proprietary Business in our Country
Interest in prop trading is growing every month. More traders are passing firm challenges and earning payouts. Some are building full-time incomes from trading alone.
There is also talk about starting local prop firms. These firms would use local payment options and train traders with a better understanding of Nigerian challenges. Growth in digital finance could also make trading easier and more accessible.
Final words
Proprietary trading is opening doors for many new clients. It removes the need for big capital and offers real earning potential. With the right skills, internet access, and platform choice, more people can succeed in this new space.
By Adedapo Adesanya
President Bola Tinubu has approved the composition of an oversight committee to organise Nigeria’s hosting of the 4th African Union Micro, Small and Medium Enterprises (MSME) Forum, scheduled to hold between June 23 and 27 in Abuja.
This was revealed by Senior Special Assistant to the President on Media and Communications in the Office of the Vice President, Mr Stanley Nkwocha.
It was stated that the theme of the 2025 edition of the Forum is Building Resilient MSMEs through Digital Innovation, Market Access and Affordable Financing for Africa.
According to him, the committee will, among other objectives, ensure adequate planning for the successful hosting of the forum, which will feature paper presentations, panel discussions, sponsored side events, exhibitions/networking and MSME Business pitching events and presentation of prizes to deserving Nigerian entrepreneurs.
The committee, chaired by the Deputy Chief of Staff to the President in the Office of the Vice President, Mr Ibrahim Hadejia, has as members the Minister of Industry, Trade and Investment, Mrs Jumoke Oduwole; the Minister of Communication, Innovation and Digital Economy, Mr Bosun Tijani; the Minister of Art, Culture, Tourism and the Creative Economy, Ms Hannatu Musawa; and the Minister of State for Industry, Trade and Investment, Mr John Owan Enoh.
Other members of the team include the Executive Director of the Nigerian Export Promotion Council, Mrs Nonye Ayeni; the Executive Secretary of the Nigerian Investment Promotion Commission, Mrs Aisha Rimi; the MD of the Bank of Industry, Mr Olasupo Olusi; the Chairman of the Federal Inland Revenue Service, Mr Zacch Adedeji; the MD of NEXIM Bank, Mr Abba Bello; the DG of SMEDAN, Mr Charles Odii; the President of NACCIMA, Mr Dele Kelvin Oye, the Deputy Director for African Union Division in the Ministry of Foreign Affairs, Mr Anthony Alonwu; and the Special Adviser to the President on Job Creation and MSMEs in the Office of the Vice President, Mr Temitola Adekunle-Johnson.
The AU MSME Forum was initiated as an annual event by the African Union Commission (AUC) to serve as a strategy to empower Micro, Small and Medium-Sized Enterprises, develop intra-African value chains, and bolster regional trade.
While the hosting rights are rotated among African member countries, Egypt, Ethiopia, and Namibia have hosted the first three sessions of the forum since its introduction in 2022.
By Adedapo Adesanya
Nigeria is targeting a 7 per cent economic growth and large-scale job creation, according to the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun.
He made this known when he announced that Nigeria’s economic outlook is strengthening, after the 2025 International Monetary Fund (IMF) and World Bank Spring Meetings in Washington, D.C., USA.
Recall that the IMF downgraded Nigeria’s economic growth forecast to 3.0 per cent this year, citing global constraints following a trade war instigated by the US administration of President Donald Trump.
Mr Edun highlighted that, despite the challenging global environment marked by high debt, rising interest rates, and geopolitical tensions, Nigeria remains firmly on the path of reform, stability, and growth.
“We are focused on creating sustainable jobs for young Nigerians, supported by investment in critical infrastructure such as digital connectivity, access to data, and fibre optic networks. By crowding in the private sector and driving domestic revenue mobilisation, we are stabilising the economy and creating an environment where businesses can thrive,” Mr Edun stated.
The Minister reaffirmed that the government’s economic strategy, anchored by President Bola Ahmed Tinubu’s administration, is delivering results, with international partners acknowledging Nigeria’s policy direction.
At both the IMF and the World Bank, Nigeria’s reform programme, spanning fiscal, monetary, and structural policies, has been recognised as being on the right track, he said, adding that despite global uncertainty, Nigeria is poised for resilient, inclusive growth.
He also emphasised the government’s pragmatic approach to fiscal planning, “A budget is a statement of intent; it must be continually recalibrated to reflect on-ground realities and available resources.”
On his part, the Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, echoed these sentiments, noting the CBN’s firm commitment to reducing inflation sustainably.
“Inflation remains the most disruptive force against the economic welfare of Nigerians. Our focus is to bring it down to single digits over the medium term,” Mr Cardoso said.
Highlighting growing investor confidence, Cardoso referenced Nigeria’s recent high-level investment forum at the Nasdaq Market Site in New York, showcasing the country’s reform momentum and rising interest from global investors and the diaspora.
Mr Edun and Mr Cardoso had led the Nigeria delegation to the Spring Meetings. Others include Mr Muhammad Sani Abdullahi, Deputy Governor, CBN Economic Policy Directorate; Mr Mohammed Sani Musa, Chairman, Senate Committee on Finance; Mr Saidu Musa Abdullahi, Deputy Chairman, House Committee on Finance; Mrs Lydia Shehu Jafiya, Permanent Secretary, Federal Ministry of Finance; Mr Faruk Yusuf Yabo, Permanent Secretary, Federal Ministry of Communications, Innovation and Digital Economy; Ms Patience Oniha, Director General, Debt Management Office (DMO); Mrs Sayande Okoli, Special Adviser to the President on Finance and Economy, as well as other senior government officials.
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