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(Bloomberg) -- The highway leading west from Saudi Arabia’s capital city weaves through reddish dunes in the Ad-Dahna Desert, where summertime temperatures can surpass 50C (122F). About two hours into a drive, a cluster of modern, factory-style buildings materializes through the heat haze.Most Read from BloombergWhat Happened to Hanging Out on the Street?How Sanctuary Cities Are Preparing for Another Showdown With TrumpBillionaire Developer Caruso Slams LA Leadership Over WildfiresTexas HOA Char

"You've got to bring down the oil price, you've got to end that war. They should have done it long ago," President Donald Trump said.

If the 10-year Treasury yield surpassed 5%, it could "shock" the stock market and "force a revaluation," BlackRock's Larry Fink said.

(Bloomberg) -- President Donald Trump questioned Federal Reserve Chair Jerome Powell’s decision making on interest rates and said he planned to speak to the central bank chief “at the right time.”Most Read from BloombergWhat Happened to Hanging Out on the Street?How Sanctuary Cities Are Preparing for Another Showdown With TrumpBillionaire Developer Caruso Slams LA Leadership Over WildfiresTexas HOA Charged With Discrimination for Banning Section 8 RentersHoboken PATH Station Will Close for Almos

President Trump said if oil prices come down he'll demand lower interest rates immediately, adds he knows rates 'much better' than Fed officials

(Reuters) -U.S. President Donald Trump on Thursday said he wants the Federal Reserve to cut interest rates at a time the central bank has hit pause for an uncertain duration, arguing he understands monetary policy better than those charged with setting it. "With oil prices going down, I'll demand that interest rates drop immediately, and likewise they should be dropping all over the world," Trump told the World Economic Forum on Thursday in Davos, Switzerland. At a White House event following those comments, Trump said, "I think I know interest rates much better than they do, and I think I know it certainly much better than the one who's primarily in charge of making that decision," in an apparent reference to Federal Reserve Chairman Jerome Powell, who Trump appointed as Fed leader in his first stint as president.

US stocks closed up, with the S&P 500 notching a record for the 2nd day. Trump called for lower rates and oil prices in remarks to world leaders.