Major Wall Street indices rose as investors brushed off President Donald Trump’s attempt to remove a member of the Federal Reserve Board — a move that now is likely headed to court, AFP reported.

The Dow Jones Industrial Average climbed 0.3% to 45,418.07 points, while the broader S&P 500 gained 0.4% to 6,465.94. The tech-heavy Nasdaq Composite Index also added 0.4%, closing at 21,544.27 points.

Trump posted a letter to Federal Reserve Governor Lisa Cook on his platform Truth Social, stating that she is immediately removed due to allegations of mortgage fraud.

Cook’s lawyer announced that they will file a lawsuit challenging the president’s “illegal action,” and Cook herself emphasized that Trump “does not have the authority” to fire her.

“We have to wait and see how this develops,” said Peter Cardillo of Spartan Capital Securities. He added that, for now, the market appears to be “ignoring” Trump’s attempt.

Investors are also watching results from AI chip maker Nvidia. “There is a lot of enthusiasm,” Cardillo noted, adding that it could either prove justified “or create a new problem for the market.”

Nvidia shares closed trading up 1.1%. | BGNES