Economics
U.S. Stocks Hit Records, Fed Talk Weighs on Bonds: Markets Wrap
- Trump, Mnuchin said to have met with Kevin Warsh on Fed chair
- Gold and copper retreat, dollar bounces slightly lower
Latitude Sees Political Risk as Diminished Worry
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U.S. stocks surged to all-time highs while Treasuries slumped amid reports that President Donald Trump and Treasury Secretary Steven Mnuchin met with former Federal Reserve governor Kevin Warsh to discuss the role of Fed chair.
The S&P 500 Index, Nasdaq Composite Index and Russell 2000 Index all set records, with the S&P 500 closing out its eighth straight quarterly gain. Trump, who also reportedly met with former Fed governor Jerome Powell, said he expects to make a decision on the central bank’s leadership in two to three weeks.