Stocks finished the day higher, brushing off jitters following news that the Department of Justice (DoJ) is opening a criminal investigation into Fed Chair Jerome Powell. The Dow rebounded from a 492-point deficit to score a record close alongside the S&P 500, while the Nasdaq enjoyed healthy gains. Bank stocks struggled after President Trump called for a 10% cap on credit card rates for one year, while Alphabet (GOOGL) hit a $4 trillion market cap after announcing a multi-year AI partnership with Apple (AAPL).
GOLD MARKS ALL-TIME HIGHS
Oil prices rose amid oil developments in Venezuela and political unrest in Iran. February-dated West Texas Intermediate (WTI) crude added 38 cents, or 0.6%, to settle at $59.50.
Gold prices hit record highs today as traders piled onto the safe-heaven asset after news of the DoJ probe into Fed Chair Jerome Powell. February-dated gold futures added 2.5% to settle at $4,614.70 per ounce.
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