Before the Bell: Markets react after Powell says Trump threatened indictment

Federal Reserve Chair Jerome Powell said the Trump administration threatened him with a criminal indictment over the Fed's headquarters refurbishment; markets opened mixed, with U.S. futures falling and gold rising.

Federal Reserve Chair Jerome Powell said the Trump administration threatened him with a criminal indictment over the refurbishment of the central bank's headquarters. That remark has drawn renewed attention to tensions between the White House and the Fed. Markets opened with mixed moves: U.S. futures were lower while Canadian futures nudged higher after the TSX closed at a record. Safe-haven assets moved higher and energy prices were modestly lower amid easing supply concerns. Key facts: - Powell said the Trump administration had threatened him with a criminal indictment related to the Fed's headquarters refurbishment. - U.S. stock futures were down in early trading, while TSX futures nudged higher after Canada's main stock market closed at a fresh record. - Gold moved to fresh highs and U.S. gold futures rose. - Oil prices dipped after Iranian authorities said the situation was under control, and the Canadian dollar strengthened slightly against the U.S. dollar. Summary: The reported threat has coincided with mixed market moves and stronger demand for safe-haven assets. Undetermined at this time.