Stock Market Update
12-Jan-26 14:00 ET
Gold Surges 2.5% on Safe-Haven Bid as Powell Probe Pressures Dollar
Dow +21.72
at 49525.58,
Nasdaq +94.62
at 23765.99,
S&P +11.22
at 6977.49
[BRIEFING.COM] With about two hours to go on Monday the tech-heavy Nasdaq Composite (+0.40%) holds a firm lead, up about 95 points.
Gold futures settled $113.80 higher (+2.5%) at $4,614.70/oz, as investors rushed into safe havens following reports of a U.S. DOJ criminal investigation involving Fed Chair Jerome Powell, which pressured the dollar and raised concerns about the Fed’s independence. Ongoing geopolitical tensions and growing expectations for future Fed rate cuts further supported gold by reinforcing risk-off sentiment and lowering real yield assumptions.
Meanwhile, the U.S. Dollar Index is down about -0.2% to $98.89.
