On Tuesday, gold outshone stocks as it reached unprecedented heights. Gold futures surpassed $4,000 per ounce for the first time ever, marking a significant surge since 1979 and rising over 50% in 2025.
This rally was fueled by political instability in major economies: the persistent U.S. government shutdown without resolution, France’s political breakdown, and Japan’s new prime minister Sanae Takaichi’s election.
The momentum might continue with potential Federal Reserve interest-rate cuts enhancing bullion’s appeal compared to assets like bonds.
In contrast to gold’s performance, stocks faced challenges; Nasdaq dropped by 0.7%, S&P fell by 0.4%, disrupting its winning streak while Dow decreased by 0.2%. Concerns about AI spending returns affected indexes following Oracle documents indicating early stages of profitable AI monetization—Oracle saw significant losses related to Nvidia chip rentals but rebounded slightly after clarifications from Fox Business sources.
Tesla made headlines with new car models under $40k aiming for broader market reach after teaser trailers stirred speculation about lower-priced options boosting deliveries and demand—albeit these were revised versions of current cars rather than entirely new models which may impact profit margins due to their lower prices.
The FOMC is set to release minutes from September’s meeting on October seventh where they previously reduced federal-funds rate amid dissenting opinions favoring larger cuts; traders anticipate another reduction at month-end discussions reflecting ongoing economic assessments amidst this dynamic financial landscape.
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