Stock Market Update
06-Aug-25 14:00 ET
Gold holds steady near highs as Fed outlook and leadership uncertainty keep trading range tight
Dow +119.29
at 44231.03,
Nasdaq +208.57
at 21123.74,
S&P +40.83
at 6340.02
[BRIEFING.COM] The Nasdaq Composite (+1.00%) is up north of 200 points on Wednesday afternoon, leading the major averages.
Gold futures settled $1.30 lower (flat) at $3,433.40/oz, pausing after a strong multi-day rally. The yellow metal remains supported by rising expectations for a Fed rate cut in September, following last week's soft U.S. jobs report. However, investor focus has shifted to President Trump's pending Fed appointments, including the next chair, creating policy uncertainty that has kept gold in a narrow range. Some traders also pointed to lighter demand data from the Perth Mint and renewed trade tensions with India as reasons for caution.
Meanwhile, the U.S. Dollar Index is down about -0.5% to $98.26.
