The Nasdaq and S&P 500 marked their fourth-straight record close today, climbing once again on the back of upbeat inflation data. The PPI for May dropped to 0.2% from April, giving inflation watchers more space to breathe. The Dow suffered another loss, its third in a row, while Wall Street’s “fear gauge,” the Cboe Volatility Index (VIX) logged its lowest close in three weeks.
OIL AND GOLD SHIFT LOWER ON PPI AND INVENTORY DATA
On the back of an unexpected jump in gas and oil prices, crude futures sank for today’s trading. Nevertheless, July-dated West Intermediate (WTI) crude managed shed71 cents, or 0.9%, to close at $77.79 per barrel.PPI data pushed gold into the red today amid possible profit-taking. The now most-active, August-dated commodity closed off 1.5% near $2,318.90 an ounce.More By This Author:Stocks Mixed Despite Cooler-Than-Expected Inflation
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