Stock Market Update
30-Jul-26 14:00 ET
Nasdaq Jumps 2.6% as Gold Surges on Soft Inflation Data, Weaker Dollar
Dow +533.80
at 52127.94,
Nasdaq +642.39
at 25106.34,
S&P +109.40
at 7425.55
[BRIEFING.COM] The Nasdaq Composite (+2.63%) is up more than 640 points this afternoon, leading gains in the major averages.
Gold futures settled $63.60 higher (+1.6%) at $4,160.60/oz, after cooler-than-expected June PCE inflation and a weaker U.S. dollar boosted expectations that the Federal Reserve will keep interest rates on hold, increasing demand for the non-yielding metal. Safe-haven buying tied to ongoing Middle East tensions also supported the advance.
Meanwhile, the U.S. Dollar Index falls about -0.9% to $99.90.
