US stock markets experienced gains Tuesday. At the close of trading in New York, the Dow Jones Industrial Average stood at 45,418 points, representing a 0.3 percent increase from the previous trading day.
The broader S&P 500 index closed at approximately 6,465 points, up 0.4 percent, while the Nasdaq 100 reached around 23,526 points, also a 0.4 percent increase.
Investor attention was focused on the potential implications of US President Donald Trump’s move to remove Lisa Cook, a governor of the Federal Reserve. Cook maintains and the Federal Reserve acknowledges, that a legal challenge to the dismissal is likely, citing recent Supreme Court affirmation of the central bank’s independence.
The situation could escalate to the Supreme Court, where a conservative majority currently holds sway. While investors generally anticipate that President Trump’s desired course of action-lowering interest rates-would be welcomed, the potential for increased political influence over the Federal Reserve is viewed as a potential economic risk.
In currency markets, the Euro strengthened slightly Tuesday evening, trading at 1.1637 US dollars. Conversely, one US dollar was worth 0.8593 Euros.
The price of gold also rose, reaching 3,390 US dollars per fine ounce in evening trading, a 0.7 percent increase. This translates to a price of 93.67 Euros per gram.
Oil prices, however, declined significantly. Brent crude, a North Sea benchmark, closed at 67.33 US dollars per barrel, a decrease of 2.1 percent or 1.47 US dollars from the previous day’s close.
