Stock Market Update
01-Jul-25 14:00 ET
Gold surges 1.3% to record high on tariff jitters and Fed cut bets
Dow +426.87
at 44521.64,
Nasdaq -108.65
at 20261.10,
S&P +0.93
at 6205.88
[BRIEFING.COM] The Nasdaq Composite (-0.53%) is in last place on Tuesday afternoon.
Gold futures settled $42.10 higher (+1.3%) at $3,349.80/oz, amid a softening dollar and growing macro uncertainty. Looming trade policy risk tied to President Trump's impending July 9 tariff deadline, up to 50% tariffs on China and other countries, continues to feed safe-haven demand. Additionally, markets are pricing in potential Fed rate cuts later this year, fueled partly by political pressure from the White House to ease policy, further lifting gold as a classic hedge.
Meanwhile, the U.S. Dollar Index is little changed at $96.82.
