Stock Market Update
22-Apr-25 14:00 ET
Gold cools after blistering run as traders cash in amid Trump-Powell drama and dollar bounce
Dow +681.57
at 38851.98,
Nasdaq +302.72
at 16173.61,
S&P +83.37
at 5241.59
[BRIEFING.COM] With about two hours to go on Tuesday the tech-heavy Nasdaq Composite (+1.91%) holds a modest lead atop the major averages.
Gold futures settled $5.90 lower (-0.2%) at $3,419.40/oz, as investors employ a bit of profit taking following the yellow metal's recent rally. The recent rise in gold prices was due in part to escalating concerns over U.S. political and economic stability, notably President Trump's public criticism of Federal Reserve Chair Jerome Powell and calls for immediate interest rate cuts. These actions have unsettled markets, leading to a weakened U.S. dollar and increased demand for gold as a safe-haven asset.
Meanwhile, the U.S. Dollar Index is now up about +0.4% to $98.77.
