Gold Sinks 5% On Worst Day In 5 Years, Dow Jones Hits Record Highs: What's Moving Markets Tuesday?

Gold prices suffered a sharp correction on Tuesday as investors locked in profits following this year's explosive rally, while optimism across earnings kept industrial stocks powering higher and pushed the Dow Jones to fresh record highs.

The blue-chip index climbed 0.7% to 47,050 points, marking a new all-time high, while the S&P 500 and Nasdaq 100 hovered near record territory.

• GDX is among today’s weakest performers. Review the technical setup here.

General Motors Co. (NYSE:GM) surged more than 15% — leading the S&P 500 — after the Michigan-based automaker topped earnings expectations and raised its 2025 profit outlook to $12–$13 billion, buoyed by robust demand for pickups and SUVs. The stock is on track for its strongest session since March 2020.

In contrast, gold miners tumbled as bullion prices slumped more than 5% to $4,100 per ounce — their steepest one-day drop since August 2020.

Newmont Corp. (NYSE:NEM) plunged nearly 10%, while the VanEck Gold Miners ETF (NYSE:GDX) slid 9.5%, marking its worst day in over five years. Silver also dropped 6.7%.

Meanwhile, cryptocurrency markets regained momentum, with Bitcoin (CRYPTO: BTC) rising 2.5% to $113,000.

Tuesday’s Performance In Major U.S. Indices, ETFs

According to Benzinga Pro data:

• The Vanguard S&P 500 ETF (NYSE:VOO) edged 0.17% higher to $618.24.
• The SPDR Dow Jones Industrial Average (NYSE:DIA) inched 0.7% up to $470.45.
• The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) stalled at $611.92.
• The iShares Russell 2000 ETF (NYSE:IWM) held steady at $248.04.
• The Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) outperformed, up 1.3%; the Utilities Select Sector SPDR Fund (NYSE:XLU) lagged, down 0.8%.

Tuesday’s Movers On Earnings

• General Electric Company (NYSE:GE) up 1.4%
• The Coca-Cola Company (NYSE:KO) up 3.7%
• Philip Morris International Inc. (NYSE:PM) down 7.5%
• RTX Corporation (NYSE:RTX) up 7.5%
• Danaher Corporation (NYSE:DHR) up 7.0%
• Lockheed Martin Corporation (NYSE:LMT) down 3.7%
• 3M Company (NYSE:MMM) up 5.2%
• Northrop Grumman Corporation (NYSE:NOC) down 1.2%
• Elevance Health, Inc. (NYSE:ELV) down 2.4%
• General Motors Company up 15.5%
• Nasdaq, Inc. (NASDAQ:NDAQ) up 3.6%
• PACCAR Inc (NASDAQ:PCAR) up 3.3%
• Equifax Inc. (NYSE:EFX) down 0.4%
• W. R. Berkley Corporation (NYSE:WRB) up 1.1%
• PulteGroup, Inc. (NYSE:PHM) up 0.7%
• Halliburton Company (NYSE:HAL) up 8.3%
• Quest Diagnostics Incorporated (NYSE:DGX) down 4.6%
• Genuine Parts Company (NYSE:GPC) up 2.7%
• Crown Holdings, Inc. (NYSE:CCK) up 3.7%
• AGNC Investment Corp. (NASDAQ:AGNC) down 0.5%
• Wintrust Financial Corporation (NASDAQ:WTFC) up 0.5%
• Zions Bancorporation, National Association (NASDAQ:ZION) up 1.9%
• BOK Financial Corporation (NASDAQ:BOKF) down 3.1%
• Cadence Bank (NYSE:CADE) down 3.3%
• Cleveland-Cliffs Inc. (NYSE:CLF) down 16.7%

Stocks slated to report earnings after the close include Netflix Inc. (NASDAQ:NFLX), Texas Instruments Inc. (NASDAQ:TXN), Capital One Financial Corp. (NYSE:COF), Omnicom Group Inc. (NYSE:OMC), East West Bancorp Inc. (NASDAQ:EWBC), Manhattan Associates Inc. (NASDAQ:MANH), Western Alliance Bancorporation (NYSE:WAL), Agree Realty Corp. (NYSE:ADC), and Mattel Inc. (NASDAQ:MAT).

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