US stocks drift near their records as gold’s price falls again - AP News
Original story by: Associated Press
Last updated: Oct 22, 2025
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- Context: Wall Street stocks are experiencing a slight pullback from their record highs on Wednesday, while the price of gold continues to decline from its significant yearly gains. This movement follows a period of strong stock performance and a substantial rise in gold prices.
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- Detailed Summary:
- The S&P 500 saw a 0.4% dip, remaining within 1% of its all-time high. The Dow Jones Industrial Average fell 0.3%, and the Nasdaq composite declined 0.9%.
- Netflix's stock dropped 9.7% after reporting weaker-than-expected profits, contributing to market pressure on companies to demonstrate solid profit growth amidst high valuations.
- Other notable stock movements included AT&T falling 1.4% and Texas Instruments sinking 5% due to profits matching or falling short of forecasts.
- On the positive side, Intuitive Surgical jumped 13.9% and Boston Scientific climbed 4.4% after exceeding profit expectations.
- Bank stocks showed resilience, with Capital One Financial and Western Alliance Bancorp reporting stronger summer profits, a welcome development for Western Alliance after recent concerns about its loans.
- Beyond Meat experienced a significant rise of 31%, partly attributed to increased availability at Walmart and its prominent position in the Roundhill Meme Stock ETF.
- Gold prices slipped 1.3% to $4,056.90 per ounce, following a prior day's 5.3% decline, with continued interest in gold driven by expectations of Federal Reserve interest rate cuts, inflation concerns, and rising government debt. Despite these factors, criticism had emerged regarding the rapid ascent of gold prices, which are still up over 50% for the year.
- International stock markets were mixed, with London's FTSE 100 rising 1% on hopes of interest rate cuts, South Korea's Kospi jumping 1.6%, while Hong Kong and Paris indexes saw declines.
- In the bond market, the yield on the 10-year Treasury edged down slightly to 3.96%.
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