Stock Market Update

[BRIEFING.COM] With about two hours to go on Thursday the tech-heavy Nasdaq Composite (+0.53%) is tied with the S&P 500 for second place.

Gold futures settled $28.80 lower (-0.8%) at $3,606.70/oz, reflecting a typical pullback after a string of record-high gains. The modest retreat appears largely driven by short-term profit-taking, rather than a shift in broader market fundamentals. Underlying bullish momentum remains intact, supported by mounting speculation of an imminent Federal Reserve rate cut, with futures markets assigning nearly a 97% chance of a 25-basis-point cut later this month. All eyes now turn to Friday's non-farm payrolls report, which may either reinforce or challenge the dovish outlook. Meanwhile, safe-haven demand persists amid ongoing political uncertainty and concerns over central-bank independence.

Meanwhile, the U.S. Dollar Index is now +0.2% to $98.39.