Oil prices settled slightly higher on Friday but posted a weekly decline, ending four straight weeks of gains, after U.S. President Donald Trump announced sweeping plans to boost domestic production while demanding that OPEC move to lower crude prices.

The major U.S. index futures are currently pointing to a roughly flat open on Friday, with stocks likely to show a lack of direction

Major stock averages lost ground during Friday's seesaw action, but headed for weekly advances as the so-called Trump trade and strong earnings helped the benchmark S&P 500 (SP500) hit record highs. Stock losses picked up during afternoon trade,

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Donald Trump has raised the pressure on Federal Reserve chair Jay Powell to cut borrowing costs, setting up a potential clash between the two men less than a week before the US central bank meets to set interest rates.

Markets rose Friday after a record day on Wall Street in response to Donald Trump's tax-cut pledge, while the yen strengthened after a widely expected interest rate hike by the

Asian markets rose Friday after a record day on Wall Street in response to Donald Trump's tax-cut pledge, while the yen strengthened after a widely expected interest rate hike by

Jerome H. Powell has been a member of the Board of Governors of the Federal Reserve System (FRB) since May 25, 2012, appointed by then-President Barack Obama to fill an unexpired term. He was reappointed by Obama and sworn in on June 16, 2014, for a term that expires on Jan. 31, 2028.

After a week of focus on U.S. politics following President Trump’s inauguration, focus switches back to monetary policy, with an interest-rate decision due by the Fed as well as the ECB.

The Federal Reserve is widely expected to hold its key interest rate steady on Wednesday as officials wait for more data that indicates inflation is cooling.

U.S. Federal Reserve policymakers meeting next week are expected to keep interest rates on hold but the larger story unfolding will be how the central bank confronts early moves by President Donald Trump that are likely to shape the economy this year,