US stocks end mixed, gold jumps amid upbeat IMF forecast, trade tensions

Market Overview - Wall Street closed mixed with the Dow gaining modestly while the S&P 500 and Nasdaq finished in negative territory [2][5] - Gold reached a record high as investors reacted to economic sentiment from the IMF and Federal Reserve Chair Jerome Powell amidst renewed U.S.-China trade tensions [1][2] Economic Sentiment - Powell indicated that the U.S. economy may be on a firmer trajectory than expected, but warned of the risks in balancing employment and inflation goals [2] - The IMF raised its global growth outlook, citing improved tariff shocks and financial conditions, but cautioned that U.S.-China trade tensions could significantly slow output [2][4] Trade Tensions - Bilateral trade tensions escalated after China tightened controls on rare earth exports, prompting President Trump to threaten increased tariffs on Chinese imports [4] - The U.S. and China initiated tit-for-tat port fees, further complicating the trade relationship [3] Earnings Season - The third-quarter earnings season began with positive results from major financial firms such as JPMorgan Chase, Goldman Sachs, Citigroup, and Wells Fargo, suggesting a potentially strong earnings season [5] - The performance of banks is seen as a supportive factor for the market, validating recent highs [5]