The S&P 500 logged a record close on Tuesday, as contentment with the consumer price index (CPI) for February took hold of Wall Street. Meanwhile, the Dow and Nasdaq notched healthy triple-digit wins as investors — who still expect interest rate cuts in June — rotated back into the tech sector, with both Nvidia (NVDA) and Meta Platforms (META) leading the gainers. Elsewhere, the Cboe Volatility Index (VIX) had its worst day since Feb. 14.
OIL PRICES FALTER AFTER OPEC, IEA FORECASTS
Oil prices fell on Tuesday, as the Organization of the Petroleum Exporting Countries (OPEC) maintained its demand outlook for 2024, while the Energy Agency (IEA) raised its output growth forecast. April-dated West Texas Intermediate (WTI) shed 37 cents, or 0.4%, to finish at $77.56 per barrel.Inflation data weighed on gold prices, as traders became less optimistic about interest rate cuts in the near future. April-dated gold fell $22.50, or 1.2%, to settle at $2,161.90 per ounce.More By This Author:Dow, Nasdaq Up Triple Digits As Investors Cycle Back Into TechDow Emerges From Red Territory; S&P 500 Settles LowerDow Down Triple Digits As Stocks Fall Across The Board
