Wall Street’s losses stretched into another day, with investor sentiment dinged by Salesforce’s (CRM) revenue whiff and rising Treasury yields. The Dow slid 330 points for a third-straight loss, its worth losing streak since mid-April, while the Nasdaq also shed triple digits. Investors are also bracing for the release of the Federal Reserve’s favorite inflation gauge, the personal consumption expenditures (PCE) price index, due out tomorrow and expected to show slow progress.
Commodities Prices Scatter Ahead Of Inflation Reading
Oil futures fell Thursday, pressured after a surprise rise in fuel inventories lead to a selloff of “risky” assets and equities. For the session, July-dated West Texas Intermediate (WTI) crude lost $1.32, or 1.7%, at $77.91 a barrel for the session.Gold prices, meanwhile, managed to eke out a win. For the session, June-dated gold added 0.1% at $2,366.50 per ounce. More By This Author:Dow Down 386 Points Amid Salesforce SlideRising Treasury Yields Weigh On Wall Street Dow Drops 342 Points Ahead Of Fed Updates
