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9h ago

Stocks Rebound as Earnings Temper Trade Jitters, Gold Hits New Record

Renewed U.S.–China trade frictions kept intraday swings sharp.

Women holding umbrellas stand in front of a stock quotation board outside a brokerage in Tokyo, Japan June 30, 2025. REUTERS/Issei Kato
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A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., April 4, 2024. REUTERS/Andrew Kelly//File Photo
Trader Michael Capolino works on the floor of the New York Stock Exchange, Wednesday, Oct. 15, 2025. (AP Photo/Richard Drew)

Overview

  • The S&P 500 rose about 0.4% and the Nasdaq gained around 0.6% after a volatile session, while the Dow ended roughly flat as President Donald Trump talked of cutting some trade ties with China and declared the U.S. is in a trade war.
  • Safe-haven demand drove gold to fresh records above $4,200 an ounce, with spot prices reported around $4,210–$4,234 and futures setting new highs early Thursday.
  • Strong bank earnings from JPMorgan, Goldman Sachs, Citigroup, Wells Fargo, Bank of America and Morgan Stanley bolstered sentiment, while ASML’s upbeat results lifted chip shares and TSMC signaled stronger revenue.
  • U.S. Treasury yields were little changed to slightly higher near key levels, with the 10-year around 4.04% and the 2-year near 3.50%, as the dollar eased against havens like the yen and Swiss franc.
  • Asian equities advanced with chips and banks leading; India’s Sensex jumped about 1.0% to 83,468 and the Nifty to 25,585, and oil steadied after Trump said India would halt purchases of Russian crude.