Wall Street Today: US stocks open higher as investors focus on rate cut bets as Trump picks Powell's replacement
Wall Street Today: US stocks open higher as investors focus on rate cut bets as Trump picks Powell's replacement
At 9:30 a.m. (EDT), The Dow Jones Industrial Average rose 0.24% to 43,084.07 points. The S&P 500 rose 0.33% to open at 6,112.09 points, while the tech-heavy Nasdaq Composite rose 0.44% to open at 20,062.187 points at the opening bell on Thursday, 26 June 2025.
Read all stories by Anubhav Mukherjee
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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Economic Times
an hour ago
- Economic Times
Gold price today climbs to $3,336 as Trump blasts Powell—here's the forecast and what gold investors should expect next
Gold prices may be trading sideways today, but the market is anything but quiet. Between Trump's attacks on the Fed, a possible shakeup in Powell's leadership, and critical inflation data just around the corner, volatility is inevitable. In the short term, gold is likely to remain rangebound between $3,300 and $3,350, but analysts see the metal pushing higher toward $3,500 or beyond by year-end—if the Fed starts cutting and inflation cools off. Keep an eye on Friday's PCE report. It could be the spark that determines gold's next big move. Tired of too many ads? Remove Ads What is the gold price today? Spot gold is trading at $3,336.02 per ounce , up 0.1% on the day. is trading at , up 0.1% on the day. U.S. gold futures (COMEX) are hovering around $3,349.30 per ounce, showing mild intraday gains. Tired of too many ads? Remove Ads Why is gold price under pressure despite a weaker dollar? How is the Trump-Powell feud affecting gold and the Fed's next move? Is economic data pointing to trouble ahead for the US economy? What key data could shake gold next? Tired of too many ads? Remove Ads Personal Consumption Expenditures (PCE) price index due Friday. price index due Friday. Revised U.S. GDP data, which could shape the Fed's path forward. What role is geopolitics playing in gold's recent decline? Gold price predictions: Where is gold headed next? Source Prediction Timeline Reuters Poll Avg $3,065 2025 Goldman Sachs Up to $3,300 End-2025 J.P. Morgan $3,675 → $4,000 Q4 2025 → Q2 2026 UBS / Bank of America $3,500+ Medium-term CoinCodex Avg $3,570, Peak $4,148 Dec 2025 Citigroup (bearish) Drop to $2,500–2,700 End-2026 AI/Crowd Forecasts Avg $3,070, AI upper range $3,026 Dec 2025 What are the key technical levels gold traders are watching? Immediate resistance lies at $3,356, followed by the 23.6% Fibonacci retracement at $3,371. Support levels include the 38.2% Fib at $3,292 and the 50% Fib at $3,228. The Relative Strength Index (RSI) sits near 50, signaling a neutral market. What could change the direction of gold prices next? FAQs: Gold prices fell on Thursday as risk appetite grows, US stocks rally to record highs, and President Trump's battle with Fed Chair Jerome Powell casts doubt over rate cut timing. Gold (XAU/USD) slipped from recent highs and was trading near $3,330 in the US session, despite ongoing weakness in the US Dollar. The retreat in gold comes as investors increasingly shift toward risk assets like equities, pushing major US indices to fresh record levels. At the same time, tensions are heating up between President Donald Trump and Federal Reserve Chair Jerome Powell, further complicating the path forward for monetary are now keenly watching Friday's release of the US Personal Consumption Expenditures (PCE) data — the Fed's preferred inflation gauge — which could provide crucial clues on when a rate cut might of this morning:While the gains are modest, gold remains up more than 42% over the past month—one of the metal's best runs in recent is often seen as a safe haven when the US Dollar weakens, but that wasn't the case on Thursday. While the USD continued to decline, gold struggled to maintain gains as risk-on sentiment dominated market flows. The XAU/USD pair swung between its 20-day and 50-day moving averages, showing signs of consolidation and investor appear to be chasing momentum in equities rather than seeking safety in gold. The S&P 500, Dow Jones, and Nasdaq all notched fresh record highs this week, diverting attention away from the precious debate around interest rate cuts intensified this week after President Trump openly criticized Fed Chair Powell during the NATO summit. Trump didn't mince words, saying, 'He is going out, fortunately. I think he is terrible.' His comments reflect growing political pressure on the Fed to act swiftly on rate however, struck a cautious tone during his two-day semiannual testimony to Congress, maintaining that interest rates will remain at 4.25%–4.50% for now. He noted that while inflation is nearing the Fed's 2% target, other risks — like tariffs and global uncertainties — must be carefully monitored before making any tug-of-war between fiscal and monetary authorities has left gold in a holding pattern. Traders are reluctant to take bold positions in gold until there's more clarity on the Fed's reports hint that the US economy might be hitting some bumps. On Tuesday, the US Conference Board Consumer Confidence Index showed signs of softening. Then on Wednesday, New Home Sales numbers came in below expectations, suggesting a cooling housing CME FedWatch Tool now shows a 68% chance of a 25 basis-point rate cut in September, with a 21.3% chance of a larger 50 basis-point cut. These expectations are keeping gold investors on edge. Without a strong catalyst, gold may struggle to retest its April high of $3, eyes are now on two big data drops:Any sign that inflation is cooling could fast-track rate cuts—sending gold higher. But if inflation surprises to the upside, the Fed may stay cautious, capping gold's macroeconomic trends are driving most of the action, geopolitical tensions have temporarily eased. The Israel-Iran ceasefire has held for three straight days, helping to reduce global fears and further cooling demand for safe-haven assets like experts warn that the calm may be short-lived. Any new flare-up could quickly push gold prices higher again. For now, though, the absence of immediate conflict is leaving gold exposed to economic and policy what analysts and forecasting models are saying:While most forecasts remain bullish, especially from institutions like J.P. Morgan and Goldman Sachs, some caution is creeping in. If inflation data comes in stronger and rate cuts are delayed, gold could face a near-term pullback toward $2, a chart perspective, XAU/USD is in a tight range, stuck between the 50-day SMA at $3,325 and the 20-day SMA at $3,356. These moving averages are acting as near-term support and resistance zones.A break above $3,371 could see gold test the $3,400–$3,450 zone. On the flip side, a drop below $3,325 could expose gold to deeper losses, especially if Friday's PCE data comes in eyes are now on Friday's PCE inflation data, which is likely to be the biggest driver for gold in the short term. A softer-than-expected reading could revive hopes for a faster Fed rate cut, potentially boosting demand for then, gold may continue to trade sideways as markets juggle conflicting signals: a weakening dollar, stock market euphoria, political tension, and economic is dropping as investors prefer riskier assets like US stocks over safe-haven push for rate cuts vs Powell's caution adds uncertainty, keeping gold range-bound.
Time of India
an hour ago
- Time of India
Russia says remaining two S-400 squadrons will be delivered by 2026-27
NEW DELHI: Russia on Thursday assured India it will deliver the two remaining squadrons of the S-400 Triumf surface-to-air missile systems, which played a crucial role during Operation Sindoor against Pakistan last month, by 2026-27. The delivery of the fourth and fifth squadrons of the S-400 air defence systems, which has been hugely delayed due to the ongoing Russia-Ukraine war, figured in the bilateral meeting between defence minister Rajnath Singh and his Russian counterpart Andrey Belousov on the side-lines of the SCO defence ministers' meet at Qingdao in China, sources told TOI. 'We had insightful deliberations on boosting India-Russia defence ties,' Singh posted on `X'. Under the $5.43 billion (Rs 40,000 crore) contract inked with Russia in 2018, India was slated to get all the five squadrons by end-2023. Each S-400 squadron has two missile batteries with 128 missiles each, with interception ranges of 120, 200, 250 and 380-km, as well as long-range acquisition and engagement radars and all-terrain transporter-erector vehicles. The IAF has deployed the first three S-400 squadrons in north-west and east India to cater for both China and Pakistan. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If you have a mouse, play this game for 1 minute Navy Quest Undo 'As per Russia, the fourth squadron will now come next year, and the fifth in 2027,' a source said. During the intense cross-border hostilities with Pakistan from May 7 to 10, Pakistan had claimed it successfully bombed the Adampur air-base and destroyed a S-400 battery deployed there. But PM Narendra Modi visited the air-base on May 13, and posed with an all-terrain transporter-erector-launcher vehicle of the S-400 system in the background to reject the claim. The S-400 batteries, which can detect and destroy hostile strategic bombers, jets, spy planes, missiles and drones at a range of 380-km, constitute the outermost layer of India's integrated air defence system and is fully plugged into the IAF's integrated air command and control system (IACCS). The DRDO, on its part, is also developing an air defence system with a 350-km interception range under the ambitious Project Kusha. With the defence ministry in Sept 2023 approving the 'acceptance of necessity' for the procurement of five of its squadrons for the IAF at a cost of Rs 21,700 crore, India plans to operationally deploy this system by 2028-2029, as was first reported by TOI.
Time of India
an hour ago
- Time of India
Russia Assures More S-400 Air Defence System Delivery To India, Lauds Role In Operation Sindoor
/ Jun 26, 2025, 10:09PM IST Russia has assured India of the timely delivery of the remaining S-400 air defence systems during a high-level bilateral meeting between Defence Minister Rajnath Singh and his Russian counterpart Andrey Belousov. Out of five ordered units, three S-400 squadrons have already been delivered. The remaining two will be handed over soon, according to Russia. The S-400s played a critical role in India's success during Operation Sindoor by neutralising enemy missiles and drones. The $5.43 billion deal signed in 2018 marks one of India's most advanced defence procurements. Russia reaffirmed its strategic partnership with India and expressed condolences for the recent Ahmedabad air crash. Watch for full details on this defence milestone, its strategic significance, and Rajnath Singh's strong diplomatic outreach.#s400india #rajnathsingh #operationSindoor #russiaindia #defencedeal #s400delivery #indianarmy #indiachina #indiaupdates #airdefencesystem #toi #toibharat #bharat #breakingnews #indianews
