Stock Market Update
05-Jun-25 14:00 ET
Gold slips 0.7% as traders weigh weak U.S. data, Fed tariff concerns, and Trump rate cut push
Dow +89.43
at 42517.17,
Nasdaq -3.15
at 19457.32,
S&P +2.01
at 5972.82
[BRIEFING.COM] The tech-heavy Nasdaq Composite (-0.02%) now holds modest losses, a hair lower from levels half an hour ago.
Gold futures settled $24.10 lower (-0.7%) at $3,375.10/oz; notably, weaker-than-expected U.S. economic indicators, including the first contraction in the services sector in nearly a year and the slowest private sector job growth in over two years, have heightened anticipation for the upcoming nonfarm payroll data. Additionally, the Federal Reserve reported increasing costs tied to higher tariffs, and President Trump reiterated his call for interest rate cuts while intensifying trade tensions with China. These developments have kept gold in a holding pattern, supported by safe-haven demand but hesitant to surpass recent highs.
Meanwhile, the U.S. Dollar Index is less than -0.1% lower to $98.79.
