US Equity Indexes Fall This Week Amid Mixed Bank Earnings, Concern Over Fed Independence
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US equity indexes fell this week due to mixed bank earnings and concerns over the Federal Reserve's independence amid a DOJ probe. The S&P 500 closed at 6,940.01, the Nasdaq at 23,515.39, and the Dow at 49,359.33. Disappointing earnings from JPMorgan and Wells Fargo contrasted with positive results from Goldman Sachs and Morgan Stanley. Fed Chair Powell noted a DOJ subpoena regarding a $2.5 billion upgrade, while President Trump hinted at a potential change in Fed leadership, favoring Kevin Warch over Kevin Hassett.
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