Stocks were rangebound today, with the Dow closing slightly lower ahead of a pivotal week on Wall Street. Thanks to an outsized move from semiconductor stocks, the S&P 500 and Nasdaq both finished in the black for their fifth-straight session alongside a fourth consecutive record close. Elsewhere, the Cboe Volatility Index (VIX) snapped a three-day win streak, while investors now see around a 75% chance of a 25 basis-point rate cut in September, per CME’s FedWatch.
OIL, GOLD TAKE A BREATHER
Crude prices cooled some more today, as Beryl, a now tropical storm, makes landfall. August-dated West Intermediate (WTI) crude lost 83 cents, or 1%, to settle at $82.33 per barrel for the session.Gold prices also fell today as profit taking took hold over the safe-haven asset. August-dated gold 1.5%, at $2,362.70 an ounce for the day.More By This Author:S&P 500, Nasdaq Extend Record Highs; Dow Up Triple DigitsNasdaq Secures 5th-Straight Weekly WinTech Takes Off As Fed Fatigue Wears Down
