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Wall Street's Bumpy Ride: Markets Rise Despite Political Tensions
New York, USATuesday, January 13, 2026
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Market Overview
- S&P 500: Added 0.2% to its previous record
- Dow Jones Industrial Average: Recovered from a 500-point loss to gain 86 points
- Nasdaq Composite: Increased by 0.3%
Key Concerns
- Federal Reserve Independence: Investors worried about political influence on the Fed
- U.S. Dollar: Dipped against other currencies
- Safe-Haven Assets: Gold saw gains
Stock Highlights
- Walmart: Stock boosted after joining the Nasdaq 100 index
- Alphabet (Google's Parent Company): Market value surpassed $4 trillion
- Credit Card Companies: Significant drops due to proposed interest rate cap
- Synchrony Financial
- Capital One Financial
- American Express
Political Tensions
- Fed Chair Jerome Powell: Released a video statement about DOJ subpoena and threats
- Fed Independence: Concerns about political influence on interest rate decisions
Retail Sector
- Abercrombie & Fitch: Stock dropped 17.7% due to profit forecast shortfall
- Other Mall-Based Retailers: Declines in Urban Outfitters and American Eagle Outfitters
Bond and Commodity Markets
- 10-Year Treasury Yield: Briefly rose to 4.21%, then eased back to 4.18%
- Gold: Rose 2.5% to a record settlement of $4,614.70 per ounce
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