Wall Street hit new records after bouncing back from concerns about a feud between the White House and the Federal Reserve that could lead to higher inflation. S&P 500 and Nasdaq set new highs. Nervousness remains in the market regarding Fed independence. Walmart and Google’s AI chatbot boosted stocks. Alphabet’s market value surpassed $4 trillion. Credit card companies fell after Trump suggested capping interest rates. Fed Chair Powell claimed the Justice Department threatened criminal charges over his testimony. Bond yields rose, and the U.S. dollar weakened against the euro and Swiss franc. Analysts and lawmakers expressed concerns about Fed independence. Abercrombie & Fitch dropped after disappointing forecasts. Gold prices hit a record high. International markets showed mixed results.

Read more at Yahoo Finance: Wall Street ticks to records after shaking off worries about Trump’s feud with the Fed