Stock Market Update
29-May-26 14:00 ET
Gold climbs on Fed cut hopes, Middle East tensions
Dow +309.31
at 50978.28,
Nasdaq +33.41
at 26971.88,
S&P +13.15
at 7576.78
[BRIEFING.COM] The tech-heavy Nasdaq Composite (+0.12%) is up about 33 points this afternoon, landing at the bottom of the major averages albeit with a modestly higher tape.
Gold futures settled $60.60 higher (+1.3%) at $4,593/oz, up then about +1.5% on the week, supported by lower Treasury yields, a weaker U.S. dollar, and rising expectations for eventual Federal Reserve rate cuts following softer U.S. inflation data. Safe-haven demand also remained firm amid ongoing uncertainty surrounding U.S.-Iran negotiations and broader geopolitical tensions in the Middle East.
Meanwhile, the U.S. Dollar Index is down less than -0.1% to $98.93.
