U.S. stock markets experienced gains on Tuesday, with the Dow Jones Industrial Average closing at 45,418 points, representing a 0.3 percent increase from the previous session. The broader S&P 500 index finished the day at approximately 6,465 points, up 0.4 percent, while the Nasdaq 100 rose by the same percentage, reaching around 23,526 points.
Investor attention was focused on the potential ramifications of the U.S. President’s decision to remove a governor from the Federal Reserve. The governor in question has asserted that the President lacks the authority to dismiss her, a position supported by a recent Supreme Court ruling affirming the central bank’s independence. The Federal Reserve has indicated its willingness to address any resultant legal challenges.
The possibility of the case reaching the Supreme Court, where a conservative majority currently holds sway, is being closely watched. While investors generally favor a potential shift towards lower interest rates, a perception of political influence over the central bank is viewed as a potential economic risk.
In currency markets, the Euro strengthened slightly on Tuesday evening, trading at 1.1637 U.S. dollars. The U.S. dollar was worth 0.8593 Euros.
Commodity markets saw a mixed performance. Gold prices rose 0.7 percent to $3,390 per fine ounce, equivalent to 93.67 Euros per gram. Conversely, crude oil prices declined significantly, with Brent crude futures closing at $67.33 per barrel – a decrease of 2.1 percent or 1.47 U.S. dollars.