Dow Climbs 3% and Gold Tops US$4,000 as Fear Drains From Markets
Written by AI from riotimesonline.com's report. Not checked by a person.
Wall Street staged a broad rally on 4 November 2026, with the Dow Jones Industrial Average rising 3.03% to 53,356, while gold jumped to US$4,066 an ounce as Treasury yields and the dollar retreated.
Wall Street posted a sweeping advance on 4 November 2026. The Dow Jones Industrial Average closed at 53,356, up 3.03%, outpacing both the S&P 500, which gained 1.58% to 7,689, and the Nasdaq Composite, which rose 1.44% to 25,737. The VIX volatility gauge dropped 20.26% to 16.61, signalling a sharp fall in investor anxiety. The Dow's wide margin over the Nasdaq pointed to buyers favouring broad, older-economy companies over technology — a classic pattern in a relief rally.
The move was supported by easing bond and currency markets. The US 10-year Treasury yield slipped 1.71% to 4.889% and the dollar index fell 0.59% to 101.262. Gold, which benefits when yields fall, jumped 3.23% to US$4,066 an ounce. Weekly EIA data showed US commercial crude inventories at 409.8 million barrels, down 0.9 million, while distillate stocks fell 3.6 million barrels to 99.3 million — the report's sharpest draw.
Economic data offered a mixed but resilient picture. ADP counted 86,000 private-sector jobs added in October, above the 69,000 forecast. The ISM services index eased to 54.5 from 54.9, and the US trade deficit narrowed to US$105.0 billion in September from US$105.7 billion.
Attention now turns to Thursday's Bank of England decision — Bank Rate stands at 3.75% — and Brazil's Copom, which held its Selic rate at 13.75% on Wednesday in a unanimous vote, ending five consecutive cuts. Friday's US payrolls report, with a consensus of 65,000 new jobs, will be the week's decisive test for Federal Reserve rate expectations.
