Market Overview: S&P 500 index futures fell by 0.2%, with gold breaking through $3700.

US stocks may fall from historical highs as traders reduce risk exposure at the beginning of a week with a relatively quiet event calendar. Meanwhile, gold prices hit a new high. S&P 500 index futures fell by 0.2%. The benchmark index reached a new high last weekend due to market expectations of a series of rate cuts. European stock markets remained largely flat. Asian stock markets rebounded as concerns over the Bank of Japan's plan to reduce exchange-traded fund holdings eased. Following the Federal Reserve's first rate cut of the year, this week's data calendar appears thin, with Friday's release of the policymakers' preferred core inflation indicator being the main focus. Given the Fed's dovish stance largely influenced by weakness in the labor market, next week's nonfarm payroll report and the upcoming earnings season next month will become more important catalysts. Strategist Joachim Clement from Panmure Libermann stated: "From a macro perspective, this week is overall the calmest of the month. With the earnings season coming to an end, market trends may be influenced by rumors and market sentiment. While the Fed has resumed rate cuts and investor optimism for the US stock market's six-month outlook is increasing, we believe this is an expression of collective overconfidence." Gold prices broke through $3700 per ounce, with ETF inflows reaching a three-year high. Silver prices also rose to their highest level since 2011. As low-interest rates typically push up the prices of interest-free precious metals, coupled with market expectations of two more rate cuts this year, as well as safe-haven demand sparked by geopolitical risks and trade tensions, gold prices have risen by over 40% in 2025. Catherine Brooks, research director at XTB Limited, pointed out: "As the world's oldest tool against inflation and with the Fed preparing to embark on a new cycle of monetary easing, gold is likely to continue to receive strong support." Goldman Sachs strategist Sharon Bell believes that European stock markets will see a "moderate" increase. Corporate News A foreign bank in Spain has raised its bid to acquire Sabadell Bank by about 10% and proposed an increase in the share payment ratio in order to persuade the smaller competitor's investors to accept the acquisition offer. Pfizer is on the verge of finalizing a $73 billion deal to acquire the obesity treatment startup, Mycela. Reports indicate that Samsung Electronics has received approval from Nvidia to use its advanced storage chips, leading to a more than 5% increase in Samsung's stock price. Trump administration officials plan to link the active ingredient in Tylenol to autism on Monday. Following the release of the latest iPhone by Apple, a surge in consumer demand has driven up the stock prices of its Asian suppliers.