Fresh off a steep weekly loss, the Dow is already deep in the red to start the holiday-shortened week. The blue-chip index fell 216 points, as investors fretted over long-term bond yields, with the 10-year Treasury yield above 4.5% at the last check. Minneapolis Fed President Neel Kashkari noted in remarks about seeing “many more months” of low inflation data pointing before an interest rate cut. Meanwhile, the S&P 500 finished the day marginally lower, while the tech-heavy Nasdaq — thanks to an outsized move from Nvidia (NVDA) — closed above 17,000 for the first time ever.
OIL PRICES SPRING TO LIFE AHEAD OF OPEC+ MEETING
Oil futures were firmly higher today ahead of the Organization of the Petroleum Exporting Countries (OPEC+) meeting. July-dated West Texas Intermediate (WTI) crude added $2.11, or 2.7%, at $79.83 a barrel for the session.Gold prices rose today in response to the renewed Fed fatigue. For the session, June-dated gold added 0.9% at $2,356.50 per ounce. More By This Author:Nvidia Again Boosts Nasdaq To Record Highs Dow Sheds 605 Points, Logs Worst Day Of 2024 Stocks Mixed Amid Flood Of Economic Data
