Stock Market Update
29-Jul-26 13:55 ET
Gold slips as stronger dollar, yields weigh ahead of Fed decision
Dow -761.48
at 51985.84,
Nasdaq -136.41
at 24761.51,
S&P -43.31
at 7385.47
[BRIEFING.COM] With about two hours to go this afternoon the tech-heavy Nasdaq Composite (-0.55%) is in "first" place, down about 136 points as more aggressive losses are being had elsewhere. Attention now turns to the 2:00 p.m. ET FOMC policy decision. The CME FedWatch Tool currently implies a 33.7% probability of a rate hike, though investors will be watching closely for any surprise from the Fed after weeks of heightened uncertainty surrounding the policy outlook.
Gold futures settled $2.40 lower (-0.1%) at $4,036.30/oz, as investors weighed pressure from higher Treasury yields and a stronger U.S. dollar ahead of the Federal Reserve’s policy decision. Easing geopolitical tensions reduced safe-haven demand, though ongoing inflation concerns and uncertainty around interest rates kept gold supported near the $4,000 level.
Meanwhile, the U.S. Dollar Index is less than -0.1% lower to $101.35.
