Stock Market Update

[BRIEFING.COM] The tech-heavy Nasdaq Composite (+0.04%) is in last place with about two hours to go on Wednesday, having dipped briefly into the red over the last half hour.

Gold futures settled $9.30 higher (+0.3%) at $3,408.30/oz, lifted by a weaker U.S. dollar and softer inflation data that bolstered expectations for a Fed rate cut in September. July CPI increased 0.2%, down from 0.3% in June, supporting a more dovish policy outlook and making non-yielding gold more attractive. Geopolitical developments, including the planned U.S./Russia summit over Ukraine and a 90-day extension of the U.S./China tariff truce, tempered safe-haven demand but kept investors cautious.

Meanwhile, the U.S. Dollar Index is now down -0.3% to $97.80.