Wall Street opened the week on a risk-on footing, with the S&P 500 and the Nasdaq 100 extending record highs as strong earnings reinforced confidence in corporate America and investors continued to shrug off trade tensions.
By midday trading in New York, the S&P 500 had climbed 0.6% to break above 6,330, the Nasdaq 100 rose 0.8% to 23,260, and the Dow Jones added 260 points, or 0.6%.
Commerce Secretary Howard Lutnick reaffirmed the August 1 tariff deadline as “hard,” though he said that negotiation are set to continue.
See Also: Trump’s Economy Is Riding A Tsunami Of Inflows — So Much For ‘Sell America’
Gold prices jumped 1.5% to $3,400 per ounce, hitting a one-month-high, while silver gained 1.9%, both lifted by renewed dollar weakness.
The U.S. dollar index slipped below 98 amid rising concerns over the Fed's independence. On Monday, Treasury Secretary Scott Bessent called for a review of the institution, telling CNBC that there's a need to "examine the entire Federal Reserve institution and whether they have been successful."
Meanwhile, President Donald Trump's prolonged criticism of Fed Chair Jerome Powell reignited speculation about a possible dismissal. According to CFTC-regulated betting platform Kalshi, there’s a 23% chance Powell could be removed by the end of the year. Powell is legally protected from being removed by Trump.
Bitcoin (CRYPTO: BTC) rose 1.1% to $118,590, and Ethereum (CRYPTO: ETH) added 1.8%, as digital asset demand remained strong following latest policy breakthroughs.
Monday’s Performance Of Major US Indices, ETFs
According to Benzinga Pro data:
Monday’s Stock Movers
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