U.S. equities closed on Monday at fresh peaks as technology stocks lifted the broader market despite fresh political turbulence around the Federal Reserve. The Dow Jones Industrial Average added 86 points to finish at 49,590.20, while the S&P 500 nudged to 6,976.71, both setting record highs. Gains in chip and software firms offset worries that President Donald Trump’s administration is intensifying pressure on Jerome Powell after prosecutors opened a criminal probe into his Senate testimony.

Former Fed chief Janet Yellen warned the investigation could erode the central bank’s independence, a sentiment echoed by analysts who saw a modest dip in the dollar and Treasury yields. Investors also turned to gold, which hit new highs, as unrest in Iran and weaker jobs data rattled risk appetite. Meanwhile, the fourth‑quarter earnings season kicks off with JPMorgan Chase, Bank of New York Mellon, Bank of America, Wells Fargo and Citigroup slated to report, offering clues on how banks weathered the recent government shutdown and trade uncertainties.