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

Gold may end up being the real winner in June after it touched six-year highs on Tuesday.

VIEW IN BROWSER | SUBSCRIBE 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   Most Active 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. Kate Rooney | CNBC Markets Reporter @Kr00ney TOP NEWS  Dow drops after Fed officials curb rate-cut enthusiasm, Microsoft slides Fed Chief Jerome Powell warns against policy bending to 'short-term political interests' Consumer confidence drops more than expected, reaching its lowest point in nearly two years Major companies are ringing alarm bells, trying to warn Washington about more tariffs Trump and Xi meet Saturday — If it goes poorly, the global economy could teeter into recession Trump says an Iranian attack on anything American will be met with 'obliteration' Gains in home prices shrink slightly in April, but S&P Case-Shiller shows prices in some cities are heating up again Melania Trump's chief of communications Stephanie Grisham picked as next White House press secretary and communications director Instagram's boss says the app doesn't snoop on your conversations for ads Acting Trump administration border chief resigns amid furor over treatment of migrant children   CNBC PRO Full interview with Jim Suva     TOP VIDEO Watch CNBC's full interview with United Therapeutics CEO Martine Rothblatt   SPECIAL REPORTS One FANG stock could be the best catch-up trade to chase the market rally Market is excessively optimistic on Fed cuts and trade, top economist warns   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS