Fed’s Autonomy Under Scrutiny Once More — Can CPI Data Propel Gold to New Highs?

U.S. Stock Markets Reach New Highs

On Monday, major U.S. stock indices set new records, with the S&P 500 and Dow Jones Industrial Average both achieving their highest-ever closing values. The rally was primarily driven by strong performances in the technology sector and by Walmart. Despite news of a U.S. Department of Justice criminal investigation involving Federal Reserve Chair Jerome Powell, investors remained optimistic. The Dow climbed by 0.17%, the S&P 500 increased 0.16%, and the Nasdaq rose 0.26%. Meanwhile, the U.S. dollar declined as renewed worries about the Federal Reserve's independence resurfaced following reports of the investigation.