US Stocks Rally as Gold, Bitcoin Surge on Fed Rate Cut Speculation
MarketsFN Team
•5 min read
US Stocks Rally as Gold, Bitcoin Surge on Fed Rate Cut Speculation
US equities climbed across the board Thursday as markets digested mixed economic data and comments from JD Vance urging Fed rate cuts. The Dow Jones led gains with a 1.18% surge, while gold and Bitcoin posted explosive rallies of 3.53% and 5.41% respectively.
🇺🇸 US Session Overview
All major indices closed higher, with the S&P 500 gaining 1.06% to 7,747.71 and the Nasdaq 100 advancing 1.16% to 29,482.32. The Russell 2000 underperformed with a 0.51% gain, suggesting large-cap dominance. Tech stocks found support after OpenAI's Astra model rollout announcement, while automakers gained amid calls for Chinese vehicle bans. The Atlanta Fed's GDPNow estimate held steady at 4.7% for Q3, reinforcing economic optimism.📅 Economic Calendar Highlights
Today's data showed mixed signals: ISM Non-Manufacturing PMI beat at 55.4 versus 54.1 expected, but service sector employment contracted further to 47.8. The trade deficit widened sharply to -$88.6B as imports surged. Notably, service sector prices jumped to 72.6, the highest since March 2024, potentially complicating Fed policy. Initial jobless claims remained stable at 206K, near consensus.📋 Earnings Spotlight
CIENA Corp (CCIEN) and BRP Inc (DDOO) headlined today's earnings reports, though detailed results weren't immediately available. Zscaler's after-hours surge on strong guidance may set the tone for Friday's tech trading.💱 FX & Commodities
The dollar weakened notably against the yen (USD/JPY -2.76%) as Japanese authorities reportedly intervened. Gold soared to $4,520.30/oz (+3.53%) and silver surged 4.43% as rate cut hopes boosted metals. Bitcoin broke $81,483 (+5.41%) amid growing institutional interest. Oil prices edged up with WTI at $91.69 (+0.75%) despite the stronger dollar.Markets now look to Friday's August jobs report, with traders watching for confirmation of labor market cooling that could prompt Fed action. Asian markets open with Australia's trade data already showing a A$1.923B surplus, while the NFL's Melbourne game announcement may boost regional sports stocks.
🇺🇸 US Indices — Session Close
| Index | Price | Change | Change % |
|---|---|---|---|
| S&P 500 | 7,747.71 | ▲ +81.11 | ▲ +1.06% |
| Nasdaq 100 | 29,482.32 | ▲ +338.99 | ▲ +1.16% |
| Dow Jones | 53,686.11 | ▲ +624.16 | ▲ +1.18% |
| Russell 2000 | 2,968.27 | ▲ +15.10 | ▲ +0.51% |
💱 FX Majors
| Pair | Rate | Change % |
|---|---|---|
| EUR/USD | 1.1631 | ▲ +0.30% |
| GBP/USD | 1.3526 | ▲ +0.08% |
| USD/JPY | 155.78 | ▼ -2.76% |
| AUD/USD | 0.7204 | ▲ +0.80% |
| USD/CHF | 0.8075 | ▼ -0.51% |
🛢️ Commodities & Crypto
| Asset | Price (USD) | Change % |
|---|---|---|
| Gold (XAU/USD) | 4,520.30 | ▲ +3.53% |
| Silver (XAG/USD) | 67.59 | ▲ +4.43% |
| Crude Oil (WTI) | 91.69 | ▲ +0.75% |
| Brent Oil | 95.78 | ▲ +0.16% |
| Natural Gas | 2.91 | ▼ -1.62% |
| Bitcoin | 81,483.31 | ▲ +5.41% |
| Ethereum | 2,510.34 | ▲ +4.97% |
📋 Today's Earnings
| Ticker | Company | Timing | Market Cap |
|---|---|---|---|
| AAMBR | Amber International Holding Ltd ADR | BMO | 81240000.0 |
| BBDMD | Baird Medical Investment Holdings Limited | BMO | 49380000.0 |
| BBRC | Brady Corp | BMO | 4260000000.0 |
| CCIEN | CIENA Corp | BMO | 44940000000.0 |
| CCPB | Campbells Co | BMO | 6600000000.0 |
| DDLTH | Duluth Holdings Inc | BMO | 169490000.0 |
| DDOO | BRP Inc | BMO | 4590000000.0 |
| GGCO | Genesco Inc | BMO | 382530000.0 |
| LLE | Lands' End Inc | BMO | 332620000.0 |
| MMOMO | Hello Group Inc ADR | BMO | 551250000.0 |
| PPRFX | PRF Technologies Ltd | BMO | 2970000.0 |
| PPSNY | Polestar Automotive Holding UK PLC ADR | BMO | 1250000000.0 |
| TTTC | Toro Co | BMO | 8800000000.0 |
| VVBNK | VersaBank | BMO | 667530000.0 |
| VVSXY | Victoria's Secret & Co | BMO | 5850000000.0 |
| WWLY | John Wiley & Sons Inc | BMO | 2580000000.0 |
| ZZGN | Ermenegildo Zegna NV | BMO | 5350000000.0 |
| AAMBA | Ambarella Inc | AMC | 2780000000.0 |
| AAOUT | American Outdoor Brands Inc | AMC | 126320000.0 |
| AASAN | Asana Inc | AMC | 2330000000.0 |
📅 Economic Calendar
All times in UTC — Actual highlighted where available
| Time | Currency | Event | Imp. | Actual | Forecast | Previous |
|---|---|---|---|---|---|---|
| 12:30 | USD | Initial Jobless Claims | 🔴🔴🔴 | 206K | 205K | 204K |
| 13:45 | USD | S&P Global Services PMI (Aug) | 🔴🔴🔴 | 56.5 | 56.8 | 54.6 |
| 14:00 | USD | ISM Non-Manufacturing PMI (Aug) | 🔴🔴🔴 | 55.4 | 54.1 | 54.1 |
| 14:00 | USD | ISM Non-Manufacturing Prices (Aug) | 🔴🔴🔴 | 72.6 | 70.0 | 70.3 |
| 00:30 | JPY | S&P Global Services PMI (Aug) | 🟡🟡 | 52.5 | 52.3 | 51.2 |
| 01:30 | AUD | Trade Balance (Jul) | 🟡🟡 | 1.923B | 1.400B | 2.341B |
| 01:45 | CNY | RatingDog Services PMI (Aug) | 🟡🟡 | 51.4 | 50.6 | 50.4 |
| 06:00 | RUB | S&P Global Services PMI (Aug) | 🟡🟡 | 51.3 | 49.0 | |
| 06:30 | CHF | CPI (MoM) (Aug) | 🟡🟡 | 0.4% | 0.0% | -0.1% |
| 07:00 | CHF | GDP (QoQ) (Q2) | 🟡🟡 | 1.9% | 1.5% | 0.6% |
| 07:00 | CHF | GDP (YoY) (Q2) | 🟡🟡 | 2.8% | 0.5% | |
| 07:00 | MYR | Interest Rate | 🟡🟡 | 2.75% | 2.75% | 2.75% |
| 07:00 | TRY | CPI (MoM) (Aug) | 🟡🟡 | 1.84% | 1.93% | 1.78% |
| 07:00 | TRY | CPI (YoY) (Aug) | 🟡🟡 | 31.51% | 31.62% | 31.75% |
| 07:15 | EUR | HCOB Spain Services PMI (Aug) | 🟡🟡 | 57.8 | 59.0 | 58.3 |
| 07:45 | EUR | HCOB Italy Services PMI (Aug) | 🟡🟡 | 55.2 | 53.6 | 52.5 |
| 07:50 | EUR | HCOB France Services PMI (Aug) | 🟡🟡 | 48.0 | 48.4 | 49.6 |
| 07:55 | EUR | HCOB Germany Services PMI (Aug) | 🟡🟡 | 49.7 | 48.5 | 49.8 |
| 08:00 | EUR | HCOB Eurozone Composite PMI (Aug) | 🟡🟡 | 52.0 | 52.1 | 52.0 |
| 08:00 | EUR | HCOB Eurozone Services PMI (Aug) | 🟡🟡 | 51.6 | 51.7 | 51.7 |
| 08:30 | GBP | S&P Global Composite PMI (Aug) | 🟡🟡 | 52.5 | 52.5 | 52.2 |
| 08:30 | GBP | S&P Global Services PMI (Aug) | 🟡🟡 | 52.5 | 52.8 | 52.1 |
| 12:30 | USD | Continuing Jobless Claims | 🟡🟡 | 1,779K | 1,771K | |
| 12:30 | USD | Exports (Jul) | 🟡🟡 | 310.70B | 314.70B | |
| 12:30 | USD | Imports (Jul) | 🟡🟡 | 399.30B | 388.00B | |
| 12:30 | USD | Nonfarm Productivity (QoQ) (Q2) | 🟡🟡 | 1.4% | 1.4% | 0.8% |
| 12:30 | USD | Trade Balance (Jul) | 🟡🟡 | -88.60B | -89.40B | -71.20B |
| 12:30 | USD | Unit Labor Costs (QoQ) (Q2) | 🟡🟡 | 1.2% | 1.3% | 1.3% |
| 12:30 | CAD | Labor Productivity (QoQ) (Q2) | 🟡🟡 | 1.0% | 0.7% | -0.4% |
| 12:30 | CAD | Trade Balance (Jul) | 🟡🟡 | 0.77B | 3.20B | 4.20B |
| 13:45 | USD | S&P Global Composite PMI (Aug) | 🟡🟡 | 56.0 | 56.0 | 54.5 |
| 14:00 | USD | ISM Non-Manufacturing Employment (Aug) | 🟡🟡 | 47.8 | 48.3 | 47.4 |
| 16:20 | USD | Atlanta Fed GDPNow (Q3) | 🟡🟡 | 4.7% | 4.8% | 4.8% |
| 12:30 | USD | Fed Waller Speaks | 🟡🟡 | — | ||
| 17:15 | GBP | BoE MPC Member Pill Speaks | 🟡🟡 | — | ||
| 20:30 | USD | Fed's Balance Sheet | 🟡🟡 | — | 6,731B | |
| 23:30 | JPY | Household Spending (YoY) (Jul) | 🟡🟡 | — | -1.6% | -3.3% |
| 23:30 | JPY | Household Spending (MoM) (Jul) | 🟡🟡 | — | 2.6% | -6.4% |
Report published: September 03, 2026 — 22:21 CET
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