US Stocks Rise as Fed Governor Signals Possible Rate Pause
US stocks rose on Thursday after Federal Reserve Governor Christopher Waller hinted at possible rate stability this month, citing easing inflationary pressures. The S&P 500 gained 0.5%, while the Dow Jones Industrial Average added 0.6% and the Nasdaq Composite rose 0.7%. Waller emphasized that he would support keeping interest rates unchanged if August's inflation data confirms a decline.
The US trade deficit widened in July, reaching its highest level since March 2025, driven by increased imports partly due to artificial intelligence infrastructure expansion and technology-related investments. Nvidia surged 1.7% after announcing the acquisition of AI platform Hugging Face for $12.9 billion, while Snowflake's shares jumped 25.17% following a strong annual revenue forecast.
Gold prices rose on Thursday as traders reassessed rate hike expectations after Waller's comments. Spot gold increased by 2% to $4,472.94 per ounce, while US gold futures for December delivery climbed 2.3% to $4,517.40 per ounce.