US EditionWall Street Ticks to Records After Shaking Off Worries About Trump’s Feud with the Fed
Chip stocks and Walmart gains offset credit-card sector declines as markets approached record highs despite tensions between President Trump and the Federal Reserve.
- On Monday, Wall Street edged toward records after bouncing back from early losses tied to a worsening feud between the White House and the Federal Reserve.
- President Donald Trump pushed for lower rates, while Fed Chair Jerome Powell said the Department of Justice subpoenaed the Fed and threatened legal action, and Karoline Leavitt denied Trump directed the probe.
- Chip companies led the gains, with Broadcom up 2.4% and Nvidia 0.7%, while Walmart helped lift the market despite credit-card stocks plunging, including Synchrony Financial down 8.5%, Capital One Financial down 6.8%, and American Express down 4.3%.
- The 10-year Treasury yield briefly climbed to 4.21% from 4.18% amid inflation concerns, while gold rose 2.5% to a record $4,614.70 per ounce and the U.S. dollar slipped against the euro and Swiss franc.
- Traders note political checks could limit the White House's power over the Fed as Congress might block confirmations, while the Fed's independence helped keep rates high last year and signals more cuts this year.
29 Articles
29 Articles
Wall Street ticks to records after shaking off worries
NEW YORK — Wall Street ticked to more records Monday after bouncing back from losses from worries about the worsening feud between the White House and the Federal Reserve, one that experts warn could lead to higher inflation in the…
The forecast that it would be a daily storm presidency has been a reality. Ever since Donald Trump arrived in the White House, day in and day out, investors have had to make decisions about conflicts of all kinds and dimensions in U.S. domestic and foreign policy. However, after a period of digestion, all of them have ended up driving Wall Street, although analysts warn that this time it may be different.
Wall Street ticks toward records after shaking off worries about Trump's and the Fed's feud
Wall Street is edging toward records after bouncing back from early losses taken because of worries about the worsening feud between the White House and the Federal Reserve. The S&P 500 rose 0.2% Monday and added to its all-time high…
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