Stock Market Update
31-Jul-25 14:00 ET
Gold futures dip as strong U.S. data tempers Fed cut hopes; trade tensions offer limited support
Dow -165.46
at 44295.82,
Nasdaq +32.96
at 21161.26,
S&P -7.15
at 6355.75
[BRIEFING.COM] The tech-heavy Nasdaq Composite (+0.16%) is the only major average in positive territory this afternoon, up about 33 points.
Gold futures settled $4.70 lower (-0.1%) at $3,348.10/oz, mildly lower after yesterday's decision by the Fed to hold rates steady at 4.25% to 4.50% without signaling a clear path for cuts. Resilient U.S. economic data, including strong private payrolls, tempered rate-cut expectations and added mild pressure on bullion. A meagre dollar and lower Treasury yields offered limited support, while renewed U.S. trade tensions, including fresh tariffs on copper-related imports, helped lift spot gold, though futures remained slightly weaker amid cautious positioning.
Meanwhile, the U.S. Dollar Index is now less than +0.1% higher to $100.01.
