US stocks rose with the Dow hitting an intraday record while the S&P 500 extended its winning streak to eight weeks. Kevin Warsh was sworn in as the new Federal Reserve chair.
Markets gained support from strong corporate earnings and hopes of easing tensions in the Middle East. Bond yields eased during the session. Tech shares advanced after results from Lenovo boosted Dell and HP.
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The Federal Reserve left its benchmark interest rate unchanged at 3.50%-3.75% on Wednesday in the first policy decision under new Chair Kevin Warsh. Policymakers signaled a more hawkish stance by raising projections for rates and inflation through 2028. Bitcoin and major stock indexes slipped after the announcement.
Kevin Warsh was sworn in as chairman of the United States Federal Reserve on Friday morning in a White House ceremony. President Trump administered the oath, replacing Jerome Powell who continues as a governor. Warsh pledged reforms at the central bank amid shifting rate expectations.
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The US Senate confirmed Kevin Warsh as chair of the Federal Reserve on Wednesday to replace Jerome Powell. The vote followed a separate confirmation Tuesday for his role as a Fed governor.
Asian stocks reached a record high amid gains in technology shares and reduced geopolitical tensions. South Korea's SK Hynix achieved a $1 trillion market capitalization. Hopes for a US-Iran peace deal supported equity markets despite mixed US consumer confidence figures.
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Asian equities surged in line with Wall Street gains as optimism around US-Iran talks helped ease Middle East tensions. Crude oil prices and bond yields fell while South Korean stocks and Samsung Electronics posted notable increases.
Asian stocks advanced today, following Wall Street's record highs fueled by a surge in technology shares and robust corporate earnings. Investors are monitoring developments around a US-China summit and tensions in Iran.
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Indian equities rose more than 1 percent on Monday amid optimism over a potential peace deal between the United States and Iran. Broader Asian stocks also posted modest gains following the news. Traders reduced bearish positions as crude oil prices eased.