Stocks fall on dwindling rate-cut enthusiasm | New tariff warnings

Stocks fall on dwindling rate-cut enthusiasm | New tariff warnings | Gold’s six-year high

TUE, JUN 25, 2019

EVENING BRIEF

AS OF TUE, JUN 25, 2019 • 04:00 ET

DJIA		26549.59
		-0.67%	-177.95

S&P 500		2917.46
		-0.95%	-27.89

NASDAQ		7884.72
		-1.51%	-120.98

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DOW
NAME	LAST	CHG	%CHG
MSFT	133.43	-4.35	-3.16%
CSCO	56.08	-1.10	-1.92%
AAPL	195.57	-3.01	-1.52%

S&P 500
NAME	LAST	CHG	%CHG
ABBV	65.59	-12.86	-16.39%
AMD	28.86	-0.40	-1.37%
BAC	27.75	-0.23	-0.82%

NASDAQ
NAME	LAST	CHG	%CHG
AMD	28.86	-0.40	-1.37%
MSFT	133.43	-4.35	-3.16%
MU	32.68	-0.51	-1.54%

EDITOR'S NOTE

The stock market is getting a lot of attention for its epic June bounce back to all-time highs. But gold may end up being the real winner for the month.

Investors have piled into the precious metal, boosting it to a six-year high on Tuesday. Gold futures hit a high of $1,442.90, up 9.6% this month and on pace for the best monthly performance since February 2016, CNBC's Maggie Fitzgerald reports.

Gold's rally comes after Chairman Jerome Powell said last week the Federal Reserve would "act as appropriate" to keep the current economic expansion going, which upped the odds of the Fed cutting rates in July. Gold — seen as a global safe haven — also reacted positively to increasing geopolitical uncertainty after President Donald Trump signed new sanctions on Iran on Monday, days after Iran shot down a U.S. drone.

David Sneddon, global head of technical analysis at Credit Suisse, told clients this week that gold could retest a $1,921 record high with a "significant and long-lasting rally." Morgan Stanley commodity strategist, Susan Bates, said gold is the firm's No. 1 commodity pick thanks to uncertain macroeconomic outlook, falling rates and a bearish U.S. dollar outlook.