The S&P 500 and the Nasdaq hit record levels on Friday, the last trading day of the quarter, helped by gains in technology and financial stocks.
Reports of President Donald Trump’s meeting with former Federal Reserve Governor Kevin Warsh to discuss his potential nomination as Fed chairman was seen as a trigger for the rise in financial shares.
“He’s definitely more hawkish on the spectrum,” said Gennadiy Goldberg, interest rates strategist at TD Securities in New York.
“He is quite a contrast to Yellen. It does seem he is the front runner even though it’s not a sure thing he will be nominated.”