US Equity Indexes Mixed Amid Declining Treasury Yields, Rising Gold Futures

01:06 PM EDT, 09/08/2025 (MT Newswires) -- US equity indexes were mixed after midday on Monday amid government bond yields extending declines and gold surging to a new all-time high.

The Nasdaq Composite was up 0.5% to 21,800.1, after hitting a fresh record of 21,885.62 earlier in the session. The S&P 500 rose 0.2% to 6,493.2, and the Dow Jones Industrial Average was little changed at 45,405.5. Technology, consumer discretionary, and communication services were the gainers. Real estate and utilities were the steepest decliners.

Treasury yields declined, with the 10-year down 2.3 basis points to 4.06%, the lowest since early April. The two-year yield, little changed at 3.5%, was the weakest since September 2022.

At its Sept. 17 meeting, the probability that the Federal Open Market Committee will cut interest rates by 25 basis points stands at 90%, according to the CME FedWatch Tool. The remaining 10% likelihood is for a 50-basis-point reduction, implying the Fed is set to restart its policy easing program.

The current probability of the number of interest rate cuts between now and the end of this year is three, including the one in September, as concern mounts over the health of the labor market.

"The Fed remains committed to -- eventually -- achieving price stability, but as the Committee has shown for years, policy makers are willing to -- continue to -- tolerate above-target price pressures in order to stave off more pronounced weakness in the economy," Stifel said in a Friday note.

In company news, AppLovin (APP) is set to replace MarketAxess (MKTX) in the S&P 500, effective Sept. 22, S&P Dow Jones Indices said. Shares of AppLovin (APP) rose 10% intraday, the biggest gainer on the Nasdaq.

Broadcom (AVGO) received several analyst price upgrades, including from Angus Research, which raised its price target for the company's shares to $375 from $285. Shares gained 3.5% intraday, among the top outperformers on the S&P 500 and the Nasdaq.

T-Mobile US (TMUS) and Verizon's (VZ) shares fell 2.4% and 1.8%, respectively, intraday, after EchoStar (SATS) agreed to sell its wireless spectrum licenses to SpaceX in a stock-and-cash deal worth about $17 billion.

West Texas Intermediate crude oil futures rose 0.6% to $62.23 a barrel.

On Sunday, eight OPEC+ members agreed to increase production from October by 137,000 barrels a day. That's lower than monthly increases of about 555,000 barrels per day for September and August and 411,000 barrels in July and June, Reuters reported.

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