Stock Market Update
07-Aug-26 14:00 ET
Gold Surges 7.1% for Week as Weak Jobs Data Boosts Fed Rate Cut Hopes
Dow +104.12
at 53989.22,
Nasdaq +261.86
at 26631.23,
S&P +37.53
at 7747.49
[BRIEFING.COM] The Nasdaq Composite (+0.99%) is in first place on Friday afternoon, up about 281 points.
Gold futures settled $100.10 higher (+2.3%) at $4,399.70/oz, after a weaker-than-expected U.S. jobs report fueled expectations that the Federal Reserve could delay additional interest rate hikes, while a weaker U.S. dollar and lower Treasury yields boosted demand for the safe-haven metal. Easing energy price concerns also supported sentiment by reinforcing hopes for a less restrictive monetary policy path. The yellow metal ended +7.1% higher on the week.
Meanwhile, the U.S. Dollar Index is down about -0.4% to $99.55.
