Market Update: Stocks Retreat as Precious Metals Hit Records
U.S. stock futures edged lower Friday morning after major indices notched five consecutive gains during Wednesday's holiday-shortened session. Dow futures slipped 0.2% while S&P 500 contracts showed fractional declines. The Nasdaq's futures bucked the trend with modest gains.
Gold and silver extended their record-breaking rally, with gold futures trading near $4,543.50/oz. Bitcoin continued its ascent, reaching $88,600 - surpassing Wednesday's $87,400 peak. Oil held near two-week highs at $58.50/barrel as 10-year Treasury yields ticked up to 4.14%.
Notable developments include Nvidia's acquisition of AI startup Groq assets and regulatory scrutiny of Tesla door mechanisms. Nike shares maintained momentum following Apple CEO Tim Cook's significant stock purchase.