US stock indices erased earlier losses to hover mostly higher on Monday, as markets assessed a cautiously favorable macroeconomic backdrop against fresh attacks on the Federal Reserve by the President Trump administration. The S&P 500 and the Nasdaq 100 inched higher, while the Dow erased a 400 point drop to hover flat. The Department of Justice subpoenaed Fed Chairman Powell on criminal charges over Fed buildings’ restoration, with Powell noting the charges are an effort to oust him due to the FOMC monetary policy decisions. Still, the view of robust growth ahead of expected rate cuts by the central bank maintained a positive earnings prospective, lifting tech shares and consumer staples. AMD, Oracle, and Walmart were over 3% higher. In turn, financial services providers were lower following President Trump’s call for interest rates on credit cards to be capped at 10% for one year. JPMorgan, Visa, and Mastercard fell close to 3%.