Monday, 22 May 2017

Wall Street ends off session highs after fresh Russia probe reports

US stocks rose but closed below their session highs on renewed concerns about Donald Trump's presidency, after two new reports related to a federal investigation into possible coordination between Russia and Trump's election campaign.

A senior White House adviser is a significant person of interest in the law enforcement investigation of possible Russian ties, the Washington Post reported on Friday, citing people familiar with the matter. Separately. Trump told Russian officials at the White House that firing FBI Director James Comey relieved "great pressure" from the ongoing probe. Cited a document summarizing the meeting. "I'm sure some of (the move) is related to that, and the fact that Trump is going to be out of the country and nobody's quite sure what he's going to do," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. He added, however, that the market did not seem too concerned as the major indexes were still in positive territory. "We've got two days now to wring our hands about what might happen," he said.

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