Morning Report 13 Jan 26: Wall Street stages cautious rebound amid Fed angst

Wall Street staged a cautious rebound amid ongoing Fed angst, with the S&P 500 touching a fresh record high, led by gains in retail giant Walmart. US banks lagged after a proposed rate cap reignited regulatory concerns, while the US dollar slipped following reports the Justice Department has subpoenaed Fed Chair Jerome Powell. Elsewhere, European shares endured a choppy session but still closed at record highs. In commodities, oil prices held near five-week highs as investors weighed developments in Iran and Venezuela, while gold surged to a new all-time high, a move likely to support Aussie shares on Tuesday.

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