<div id="readability-page-1"><ul><li>Gold and silver surge as Fed uncertainty ignites safe-haven demand</li><li>US Treas Sec Bessent: Federal investigation made a mess, and could be bad for markets</li><li>EURUSD Technical Analysis: Key moving averages define the next breakout</li><li>U.S. Treasury auctions off $39 billion of 10 year notes at a high yield of 4.173%</li><li>U.S. Treasury will auction $39 billion of 10 year notes at the top of the hour</li><li>Silver Technical Analysis Today: The Rocket May Be Fatigued Now</li><li>Google hits $4 trillion in market cap on partnership deal to power Apple AI features</li><li>Consumer defensive gains: Walmart and defense stocks lead the charge</li><li>US stocks open lower on renewed attack against Fed independence</li></ul>At a glance:<ul><li>US stocks closed at record highs despite Washington noise</li><li>Tech and consumer staples led; Walmart jump boosted Nasdaq</li><li>Financials lagged after Trump floated credit-card rate cap</li><li>Dollar slipped on renewed Fed-independence concerns</li><li>Gold hit fresh record highs</li></ul>US equity markets shrugged off a fresh Washington shock on Monday, January 12, finishing with new record closes for the S&amp;P 500 and Dow even as FX traders used the moment to pressure the dollar and rotate toward havens.Equities: After opening softer on headlines around Federal Reserve Chair Jerome Powell, U.S. stocks found their footing and ground higher into the close. The Dow added 0.17%, the S&amp;P 500 rose 0.16%, and the Nasdaq gained 0.26%, with leadership coming from tech and consumer staples. Walmart jumped around 3% and helped lift the broader tape, with investors also eyeing the stock’s upcoming inclusion in the Nasdaq-100 (effective January 20), which could drive incremental passive inflows. The main pocket of weakness was financials, which lagged after President Donald Trump called for a one-year cap on credit-card rates at 10%. Bank and consumer-finance names were hit hardest, and the sector finished as the key drag even as the major indices printed fresh highs. FX: The U.S. dollar weakened in Asia and struggled mainly sideways in US trade as the DOJ action against Powell revived concerns over Fed independence and the longer-run policy outlook. The dollar index fell, with the euro up near $1.17 before dripping lower. One notable exception was USD/JPY, which stayed bid around 158.1, with the yen pressured by recent Japan wage data and a narrative that the Bank of Japan’s tightening path may be pushed out. As I update USD/JPY has dipped back under 158.00. Macro attention now swings quickly to Tuesday’s U.S. CPI, a key input into whether the market’s next-cut timing (increasingly centred on mid-year) shifts again. Gold: In commodities, the session’s clearest “message trade” was in precious metals, where gold surged to fresh record highs above $4,600/oz as investors reached for classic havens amid political and geopolitical uncertainty.</div>

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US equities closed at record highs despite concerns over Federal Reserve independence following Trump's comments. The Dow rose 0.17%, S&P 500 by 0.16%, and Nasdaq by 0.26%, led by tech and consumer staples, particularly Walmart. The U.S. dollar weakened amid uncertainty, while gold surged to record highs above $4,600/oz as investors sought safe havens. The U.S. Treasury auctioned $39 billion of 10-year notes at a yield of 4.173%. Macro focus shifts to upcoming U.S. CPI data.

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investingLive Americas FX news wrap: US equities shrug off Trump Fed independence attack