Stock Market Update
06-May-26 14:00 ET
Gold Surges 2.8% as Softer Dollar, Fed Cut Bets and Iran Peace Hopes Lift Demand
Dow +527.27
at 49825.52,
Nasdaq +414.15
at 25740.27,
S&P +84.80
at 7344.02
[BRIEFING.COM] The tech-heavy Nasdaq Composite (+1.64%) is in first place on Wednesday afternoon, up about 414 points.
Gold futures settled $125.80 higher (+2.8%) at $4,694.30/oz, driven by easing geopolitical tensions tied to renewed U.S.--Iran peace hopes and a softer U.S. dollar. The move was also supported by rising expectations that cooling economic data could bring forward Federal Reserve rate cuts, boosting demand for non-yielding assets like gold.
Meanwhile, the U.S. Dollar Index is down about -0.4% to $98.07.
