Dow, S&P 500, Nasdaq futures pull back from records as gold powers to fresh all-time high

Market Overview - US stock futures retreated with Dow Jones Industrial Average futures down approximately 0.4%, S&P 500 futures down 0.3%, and Nasdaq 100 futures also about 0.4% lower, following a strong week for stocks as investors anticipated the Fed's return to easing [1] - Gold reached a new all-time high, exceeding $3,750, driven by expectations of two more interest rate cuts by the Fed before the end of 2025 [2] - Bitcoin and other cryptocurrencies declined as traders liquidated over $1.5 billion in bullish positions [2] Inflation and Federal Reserve Insights - Markets are awaiting the upcoming reading of the personal consumption expenditures (PCE) price index, which is the Fed's preferred inflation gauge, with expectations that a weak print could increase the likelihood of a quarter-point rate cut in October [3] - Wall Street anticipates that the PCE for September will indicate persistent price pressures, but still manageable enough to keep the Fed's current trajectory [3] Federal Reserve Speakers - A series of Federal Reserve speakers, including Chair Jerome Powell and newly appointed governor Stephen Miran, are scheduled to provide insights on their policy views, with Miran expected to speak on Monday and Powell on Tuesday [4] Corporate Earnings Focus - Investors are particularly interested in earnings reports from Micron Technology, which will provide updates on AI-driven demand, and Costco, which will offer insights into consumer spending [6]