Stock Market Update
05-Jun-26 14:00 ET
Gold Slumps Nearly 5% for Week as Strong Jobs Data Lifts Dollar, Dims Rate-Cut Hopes
Dow -406.03
at 51155.90,
Nasdaq -782.13
at 26069.82,
S&P -130.06
at 7454.25
[BRIEFING.COM] The Nasdaq Composite (-2.92%) is down about 782 points this afternoon, slipping to two-weeks lows.
Gold futures settled $139.70 lower (-3.1%) at $4,365.30/oz, down about -4.9% on the week, after a stronger-than-expected U.S. jobs report boosted the dollar and Treasury yields, reducing expectations for near-term Federal Reserve rate cuts. The metal's nearly -5% weekly decline reflects fading safe-haven demand and growing expectations that interest rates could remain elevated for longer.
Meanwhile, the U.S. Dollar Index is up about +0.6% to $100.09.
