Stock Market Update

[BRIEFING.COM] The tech-heavy Nasdaq Composite (+2.05%) is atop the major average this afternoon, up about 430 points.

Gold futures settled $36.90 higher (+1.1%) at $3,418.50/oz, ultimately up +1.1% on the week; the rally reflects sentiment toward Fed Chair Jerome Powell's speech at Jackson Hole, where Mr. Powell gave dovish signals that served to weaken the U.S. dollar. This comes amid economic softening, rising jobless claims, and persistent inflation above target. With rate-cut expectations still elevated despite some pullback, and continued geopolitical uncertainty fueling safe-haven demand, the gold market is positioning for potential further upside.

Meanwhile, the U.S. Dollar Index is now down -1.1% to $97.58.