Gold Surpasses 5000 Ahead of Fed Meeting: Winners and Losers in the New York Stock Market

On June 26 in U.S. trading, New York stocks closed higher ahead of the Federal Reserve meeting and big-tech earnings. The Dow Jones Industrial Average rose 0.64%, the S&P 500 added 0.5%, and the Nasdaq Composite gained 0.43%, led by roughly 2% advances in Apple, Microsoft and Meta. By contrast, Intel—still reeling from a recent earnings shock—and Tesla, which is set to report soon, slid, highlighting divergent momentum within growth stocks.

Economic indicators were supportive. Durable goods orders and other data came in firmer than expected, while the 10-year Treasury yield dipped to around 4.21%, bolstering hopes for a soft landing and improved corporate profits. At the same time, gold prices topped $5,000 per ounce for the first time, hitting a record high and drawing buying interest into gold, mining and rare-metal stocks.

Policy and politics remain key risk factors. Markets now price in a better-than-90% chance of no rate change at the Fed’s June 27–28 meeting. Investors are closely watching the pace of future rate cuts, Chair Powell’s remarks and any challenges to Fed independence. Added volatility risks stem from President Trump’s threat of 100% tariffs on Canadian imports and fears of a government shutdown over Homeland Security funding disputes. After the close, results from steelmaker Nucor, insurer Brown & Brown and regional bank Western Alliance will offer clues on tomorrow’s financial and industrial sectors.

Domestic investors should stay mindful of potential short-term pullbacks driven by tariff and political risks and Fed messaging, even amid strength in AI-beneficiary large-cap tech names and gold and rare-metal stocks.