Tech Stocks, Gold, and Silver Rally as Trump's Unpredictability Weighed On the Dollar
- Barry Adams
- U.S.A. New York City
-
Tech and resource stocks continued to advance ahead of the Fed's rate decisions, and the federal government is barreling toward a partial shutdown this weekend.
Wall Street indexes extended weekly advances ahead of the Fed's rate decisions and quarterly results from leading tech companies.
The S&P 500 index increased 0.4%, and the tech-heavy Nasdaq Composite index gained 0.7% as investors awaited earnings reports from Meta Platforms, Microsoft, and Meta Platforms Wednesday after the close of the regular trading session.
Health insurance stocks extended two-day losses amid pessimism about revenue growth over the next two years as the Trump administration proposed a 0.1% increase in payout for key insurance plans.
Gold surged 1.8% to $5,276.31 a troy ounce, and silver gained 1% to $113.18 an ounce after the U.S. president said he was not concerned about the recent decline in the dollar.
The U.S. dollar weakened for the fifth session in a row and hovered at a four-year low against a basket of currencies amid U.S. policy uncertainty, the chaotic trade policy of the Trump administration, and the attacks on the Federal Reserve's independence.
U.S. Movers
Texas Instruments gained 9.3% to $215.0 after the advanced chipmaker issued a better-than-expected outlook for the first quarter.
The company estimated revenue between $4.3 billion and $4.7 billion, and earnings per share between $1.22 and $1.48.
Seagate Technology soared 11% to $411.0 after the digital storage infrastructure company reported higher-than-expected earnings in its latest quarter.
Revenue in the fiscal second quarter increased to $2.8 billion, and adjusted earnings per share were $3.11.
Qorvo Inc. dropped 11% to $73.70 after the chipmaker's current quarter guidance fell short of market expectations.
The company reported higher-than-expected results in the fiscal third quarter, and revenue increased to $993 million, and earnings per share were $2.17.
Annual Returns
| Company | Ticker | 2026 | 2025 | 2024 |
|---|---|---|---|---|
| ASML Holding N V | ASML | 0% | 1% | -8% |
| Texas Instruments Incorporated | TXN | 0% | -1% | 10% |
| Seagate Technology PLC | STX | 0% | -2% | 4% |
| Qorvo Inc | QRVO | 0% | 0% | -38% |