Wall Street ticks to records after shaking off worries about Trump's feud with the Fed

Market Reactions - U.S. futures declined with the S&P 500 down 0.6%, Dow Jones Industrial Average down 0.5%, and Nasdaq composite index down 0.9% [2] - In Asia, markets advanced with Hong Kong's Hang Seng gaining 1.2% to 26,547.64, Shanghai Composite index up 1% to 4,163.11, and South Korea's Kospi adding 0.8% to 4,624.79 [2][3] - The U.S. dollar remained nearly unchanged against the Japanese yen at 158.02 yen [3] Federal Reserve and Political Context - Federal Reserve Chair Jerome Powell received subpoenas from the Department of Justice, escalating tensions with President Trump over a $2.5 billion renovation of Fed buildings [1] - Powell's term as chair ends in May, and Trump administration officials indicated a potential replacement could be named this month [4] - Trump denied knowledge of the investigation into Powell and dismissed suggestions that it was intended to pressure him on interest rates [4] Employment and Economic Indicators - U.S. job market showed mixed signals with fewer hires than expected in December, but an improved unemployment rate, indicating a "low-hire, low-fire" state [5] - Upcoming updates on U.S. inflation at the consumer level and wholesale prices are anticipated [5] Company Developments - Vistra, a power company, surged 10.5% after signing a 20-year electricity supply deal with Meta Platforms for three nuclear plants [6] - Big Tech companies are increasingly entering similar agreements to power their data centers, particularly for artificial intelligence initiatives [6]