investingLive Americas market news wrap: Trump hints Hassett won't be Fed pick

Markets reacted to President Trump's hints regarding Hassett's potential exclusion from the Fed pick, leading to a modest shift. Interest rates rose while the US dollar strengthened, although stock markets saw only slight declines. Trump's remark, "I actually want to keep you where you are," resulted in a drop in Hassett's nomination odds to 17%, adding tension to the markets and contributing to a notable rise in long-term yields. The 10-year Treasury yield increased by 6.7 basis points to reach 4.23%. The NAHB housing market index for January fell short of expectations, registering at 37 against a forecast of 40. In this context, there are discussions about allowing withdrawals from 401K plans for home purchases, reflecting growing concerns about housing affordability. Moreover, gold prices dropped by $32, while WTI crude was noted at $59.51. Next week presents a short trading session but significant economic data releases loom, alongside potential Supreme Court decisions on tariffs, compelling market participants to stay alert for the next moves.