September’s consumer price index (CPI) reading drove stocks lower today, while jobless claims indicating a weakening labor market didn’t help Wall Street sentiment either. The Dow shed triple digits, pulling back from yesterday’s record close. The S&P 500 and Nasdaq, despite brief midday forays into the black, ultimately finished lower as well. Elsewhere, Wall Street’s “fear gauge,” the Cboe Volatility Index (VIX) held, above 20 for the fourth-straight day.
OIL STEPS INTO RECOVERY MODE
Oil managed to recover some of its recent losses today, as concerns over Middle East tensions resurfaced, though China demand kept a ceiling on gains. November-dated West Texas Intermediate (WTI) crude added $2.61, or 3.6%, to settle at $75.85 per barrel for the day.Following the release of CPI data and increased interest in a November rate cut from the Fed, Gold rose in today’s trading, snapping a six-day losing streak. Gold for December delivery added 0.5% to trade at $2,6239.30, at last glance.More By This Author:Stocks Retreat As Rate Cut Future Weighs Dow Logs Record Close As Investors Digest Fed Minutes Stocks Climb As Dow Eyes Another Triple-Digit Pop
