Mega caps drove stocks higher to start the week, with all three indexes marking solid gains. The Dow snapped a five-day losing streak, while the Nasdaq tried — but failed — to capture a new record peak. The S&P 500 recovered from its brief Friday pullback, with all eyes now on the incoming “Magnificent 7” earnings reports, with five due out just this week. Oil continued its steep descent after Israel’s strike on Iran did not compromise crude production.
Oil Suffers Steep Losses After Airstrike
After Israel’s airstrike missed key crude supply inventories this weekend, black gold has suffered steep losses. November-dated West Texas Intermediate (WTI) crude fell $4.40, or 6.1%, to settle at $67.38 per barrel for the session.Gold was flat today, as the U.S. dollar and 10-year Treasury yield strengthened. Gold for December delivery remained near breakeven at $2,755 at last check.More By This Author:Dow Poised To Snap Skid, Pops Over 300 Points Nasdaq Hits Record High, Extends Weekly Streak To 7 Nasdaq Up Triple Digits As Stocks Rally, Yields Cool
