Tuesday Afternoon Coffee - Markets Update - 23 Sep 2025 - Wall Street Slips as Powell Urges Caution; Gold Extends Record Run

The Trade Academy Team
Sep 23
2 min read

Markets Update: U.S. stocks pulled back Tuesday as Federal Reserve Chair Jerome Powell underscored the delicate balance facing policymakers on rates, while Treasury yields eased and gold surged to yet another record high.

Global Markets Roundup: 23 Sep 2025

Markets retreated after three straight sessions of record closes, with technology shares leading the decline. Nvidia fell 3.1% a day after its stock hit a record on plans to invest in OpenAI, while Amazon, Microsoft, and Apple also slipped.

Major Indexes Retreat

Dow Jones Industrial Average: -0.20%
S&P 500: -0.54%
Nasdaq Composite: -0.91%
MSCI’s global equity gauge also fell 0.27%.

Fed Caution, Yields Ease

Powell offered few clues on the timing of future cuts, stressing the need to weigh inflation risks against labor market softness. Investors slightly raised expectations of a quarter-point rate cut in October to 94% from 89.8% the day prior, CME FedWatch data showed, with a 5.9% chance of a pause.

The 10-year Treasury yield slipped 3.1 basis points to 4.114%, down from 4.145% Monday, after touching its highest level since September 5. The 2-year yield eased 1.5 basis points to 3.586%.

Fed officials remain divided: Governor Stephen Miran pushed for steep cuts earlier this week, while others urged caution on inflation. Vice Chair Michelle Bowman said faster cuts may be needed to support jobs.

Currencies

The dollar index was steady at 97.24. The dollar was down 0.11% at 0.791 against the Swiss franc USDCHF . The euro EURUSD was up slightly by 0.08% at $1.1812 while sterling GBPUSD was flat at $1.3517.

Gold Hits New Peak

Gold prices climbed again as investors sought safety, with spot gold up 0.86% at $3,778.49 an ounce.

Oil Rises, Grains Recover

Crude prices advanced on stalled talks to restart exports from Iraq’s Kurdistan, easing supply worries.

WTI Crude: +1.8% to $63.41/barrel
Brent Crude: +1.6% to $67.63/barrel

In grains, soybeans steadied after touching a six-week low, while corn and wheat gained support from harvest concerns.

Soybeans (Nov SX25): +1 cent to $10.12/bushel
Corn (Dec CZ25): +4½ cents to $4.26¼/bushel
Wheat (Dec WZ25): +9¾ cents to $5.20½/bushel

The U.S. Department of Agriculture reported the corn harvest at 11% complete and soybeans at 9% as of Sunday.

Looking forward refer to the economic calendar below to see the upcoming events scheduled for today and the rest of the week.

General news - Information source from multiple newswires.

The article and the data is for general information use only, not advice!

The Trade Academy Team