Precious metals retreated in U.S. trading on apparent profit-taking by traders, as well as the Israel-Gaza cease-fire. Gold futures fell 2.4% to $3,946.30 a troy ounce, while silver futures dropped 3.7%.
Airline stocks rose after solid earnings from Delta Air Lines. The carrier gave an upbeat forecast for the rest of the year, suggesting a strong holiday travel season. Delta shares rose 4.3%, while United Airlines gained 3.3%.
Treasury Secretary Scott Bessent announced a step-up in support of Argentina. He said the U.S. bought Argentinian pesos directly to support the country’s economic overhaul. Previously, Bessent promised that the U.S. would spend as much as $20 billion doing currency swaps.