US shares continue to power to fresh record highs, even as traders look nervously on as the threat of Donald Trump trying to remove Federal Reserve chair Jerome Powell lingers.
While Trump yesterday said it was highly unlikely he would remove Powell before his term is due to finish in May next year, the administration has sharpened its attacks over a $US2.5 billion renovation of the Fed headquarters, which has been seen as another way to try and force the Fed chair out early.
None of this bothered traders overnight, however.
The S&P 500 index rose 0.5% to 6,297 points, yet another record, while the Nasdaq’s even bigger 0.7% gain continued its march higher.
The Australian dollar has steadied after sliding on yesterday’s weak jobs numbers, and was worth 64.85 US cents.
Stick with us for all the latest market action, and coverage of J Powell’s own Fed version of Grand Designs.
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