"The markets are fixated on the escalated tensions between the White House and the Federal Reserve, with stocks kicking off the week under pressure. All three of the major stock market averages are lower this morning, including a modest decline in the Nasdaq Composite. Precious metals have taken their cue, with the spot gold price rising to its latest fresh all-time high above $4,600 per ounce amid a weaker U.S. dollar and rising Treasury yields."
"With interest rate cuts coming at a snail's pace, the DOJ has begun a criminal probe into the Federal Reserve on monetary policy decisions, an investigation that has put Chairman Jerome Powell on defense. President Trump maintains he had zero knowledge of the probe while Powell asserts he will not be intimated as names of his potential replacement continue to swirl. In response, JPMorgan has issued a warning, urging caution on U.S. equities"
U.S. stock averages opened lower as tensions between the White House and the Federal Reserve intensified. The spot gold price climbed above $4,600 per ounce amid a weaker U.S. dollar and rising Treasury yields. The Department of Justice has initiated a criminal probe into the Federal Reserve's monetary policy decisions, placing Chairman Jerome Powell on the defensive. President Trump says he had no knowledge of the probe while potential replacement names circulate. JPMorgan warned investors to exercise caution on U.S. equities. Specific market movers include SoundHound AI, Nvidia, Meta, and SpaceX IPO odds from Kalshi.
Read at 24/7 Wall St.
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