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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Wall Street markets closed higher on May 13, led by gains in the technology sector ahead of the US-China meeting.
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 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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U.S. stocks have risen for six straight weeks, led by technology shares and semiconductors.
South Korean stocks opened at a record high Thursday, with the KOSPI benchmark nearing 6,500 points, driven by large-cap tech gains and the United States' indefinite extension of its ceasefire with Iran. U.S. President Donald Trump announced the decision following stalled peace talks. The index marked new records for the third consecutive session.
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Asian stocks climbed higher on Monday, led by companies focused on artificial intelligence, despite escalating concerns over Middle East stability. Oil prices jumped after President Donald Trump rejected Iran's response to a US peace proposal as unacceptable. The developments come amid a 10-week-old conflict between the two nations.