Markets Steady Amidst Federal Reserve Subpoena Drama

Despite a legal clash between President Donald Trump and the Federal Reserve concerning costly renovations, global markets remain steady. US futures slightly slipped, but Asian markets advanced. The power sector surged with Vistra's successful deal, while homebuilders rallied following Trump's mortgage rate plan. Meanwhile, crude oil and precious metals ticked upward.

Global markets showed resilience on Monday despite a brewing legal conflict between President Donald Trump and the Federal Reserve concerning the central bank's costly building renovations. US futures saw slight declines, but Asian markets advanced following Federal Reserve Chair Jerome Powell's legal summons by the Department of Justice.

In the US, trading was slightly affected by the news, with precious metals like gold climbing amidst uncertainty. The S&P 500 witnessed minor declines, while the power sector, led by Vistra, surged after a lucrative deal to supply electricity to Meta Platforms. Meanwhile, Trump's proposal to lower mortgage rates fueled gains in the homebuilding sector.

Amidst these developments, US crude oil prices saw a marginal increase. The dollar remained strong against other currencies, while precious metals continued their ascent. The geopolitical landscape surrounding the Federal Reserve and its legal confrontations remains a key point of interest for investors.