Dow Hits New High, Gold Surges Over 4%, Dollar Weakens as Markets Eye US Jobs Data
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Global financial markets moved in mixed fashion on Wednesday, with the Dow Jones Industrial Average closing at a record high on hopes for peace talks in the Middle East, while technology stocks faced profit-taking. Gold prices surged more than 4% as the dollar weakened and bond yields fell, while oil prices steadied after supply concerns began to ease. The Dow Jones Industrial Average closed at 54,349.12, up 263.24 points or 0.49%. The S&P 500 fell 0.17% and the Nasdaq Composite dropped 0.83% on selling in technology shares. Spot gold closed at 4,252.74 dollars per ounce, up 4.3%, while the dollar index weakened 0.12% to 99.67. Investors await the US nonfarm payrolls report on Friday to assess the Federal Reserve's interest rate outlook.
