The Dow and Nasdaq added triple digits on Tuesday, while the S&P 500 marked its first close above the 5,500 level. Investors reflected on Fed Chair Jerome Powell’s inflation remarks, which suggested the country is making progress, though the central bank is not yet ready to cut rates. Treasury yields cooled off alongside Nvidia (NVDA), while Apple (AAPL) climbed to a fresh record high.
OIL PRICES DIP DESPITE INCOMING HURRICANE
Despite the looming U.S. holiday and a potential production shutdown due to incoming Hurricane Beryl, oil prices settled lower. August-dated West Intermediate (WTI) crude dropped 57 cents, or 0.7%, to settle at $82.81 per barrel.Powell’s inflation comments sent gold futures slightly lower on Tuesday, with investors eyeing this week’s jobs data as well. August-dated gold was last seen down 0.2%, at $2,335.30 an ounce.More By This Author:Stocks Chop As Wall Street Unpacks Powell Comments Stocks Eke Out Solid Start to July, Holiday-Shortened WeekStocks Mixed As Historically Bullish Month Begins
