The S&P 500 Index ($SPX) (SPY) today is down -0.18%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.50%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.09%. December E-mini S&P futures (ESZ25) are down -0.15%, and December E-mini Nasdaq futures (NQZ25) are down -0.04%.
Stock indexes are lower today as they consolidate last week's rally that pushed the S&P 500, the Dow Jones Industrials, and the Nasdaq 100 to new record highs. Stocks rallied last week on the view that a weakened US labor market with contained inflation will allow the Fed to keep cutting interest rates. The price of gold is up more than +1% today at a new all-time high as dovish global central banks, geopolitical risks, and trade tensions have boosted demand for the metal as a store of value and as a safe-haven.
