Stock Market Update
22-May-25 14:00 ET
Gold pulls back from two-week high as dollar gains, fiscal worries lend support
Dow +140.84
at 42001.28,
Nasdaq +126.68
at 18999.32,
S&P +17.08
at 5861.69
[BRIEFING.COM] With about two hours to go on Thursday the tech-heavy Nasdaq Composite (+0.67%) is in first place, up more than 125 points.
Gold futures settled $18.50 lower (-0.6%) at $3,295/oz, retracing after reaching a two-week high earlier in the session. Despite this dip, underlying support for gold remains due to ongoing fiscal concerns. The U.S. House of Representatives' narrow passage of President Trump's tax bill, projected to add $3.8 trillion to the national debt, has heightened worries about fiscal sustainability.
Meanwhile, the U.S. Dollar Index is up about +0.4% to $100.03.
