Old Economy Stocks Gain Ground as Tech Rally Stutters

Gold futures edged higher in recent sessions, reclaiming some of the ground lost earlier in the week as the greenback’s decline provided a tailwind for precious metals. This shift marks a notable pivot for market participants seeking refuge in tangible assets.

Meanwhile, labor tensions are rising in the industrial sector. Cleveland-Cliffs is moving forward with planned layoffs at its Stelco operations in Canada, a decision that has sparked a direct confrontation with Ottawa. The government of Prime Minister Mark Carney is currently reviewing potential legal avenues to challenge the move, highlighting the friction between corporate restructuring and state-level economic oversight.