Stock Market Update

[BRIEFING.COM] The tech-heavy Nasdaq Composite (+0.23%) is in first place on Monday among the major averages, the sole average in positive territory.

Gold futures settled $24.40 lower (-0.7%) at $3,311.20/oz, as investor sentiment shifted following a new U.S./EU trade framework deal unveiled just before the August 1 tariff deadline. Markets responded positively to the reduced 15% tariff rate on EU goods, which was significantly lower than previously threatened levels. This improvement in risk appetite diminished gold's safe-haven appeal and helped drive stock indices higher. At the same time, a slightly weaker U.S. dollar offered modest support to the yellow metal.

Meanwhile, the U.S. Dollar Index is now about +1% higher to $98.63.