U.S. stock markets slipped on Friday, closing lower in New York. The Dow Jones Industrial Average finished at 48 892 points, down 0.4 % from the prior day. A few minutes earlier, the broader S&P 500 had settled at about 6 939 points, also down 0.4 %. The technology‑heavy Nasdaq Composite marked the Nasdaq 100 at roughly 25 552 points, a drop of 1.3 %.
In Washington, President Donald Trump announced his nomination of former Federal Reserve Board chair Kevin Warsh to lead the Fed. Warsh has recently backed Trump’s push for more rapid rate cuts, but he has also insisted that addressing inflation may require a higher policy rate. Whether he will secure the votes needed in the Senate Banking Committee remains uncertain. Senator Thom Tillis has said he will block the confirmation of any Fed nominees-including Warsh-until the Department of Justice’s investigation into current Fed Chair Jerome Powell is “completed fully and transparently”. Tillis argues that the DOJ’s claims about Powell’s alleged misconduct cannot be viewed as criminal intent and stresses that the Fed’s independence must be shielded from political interference or legal intimidation.
Meanwhile, the euro weakened against the dollar: one euro was worth 1.1856 U.S. dollars, which means one U.S. dollar was trading at 0.8435 euros that evening.
Commodity prices reflected a mixed picture. Gold fell sharply, trading at $4 844 per ounce, a 10 % decline, which translates to about €131.37 per gram. Oil, on the other hand, rose; Brent crude closed Friday night at $69.98 per barrel-an increase of $0.39, or 0.6 %, over the previous day’s close.
