The S&P 500 snapped back from a three-day losing streak on Thursday, and the Nasdaq scored a triple-digit pop after Tesla (TSLA) beat quarterly expectations. The Dow, meanwhile, lost 140 points, extending its losing run to four days after IBM (IBM) shed more than 6% after a revenue miss. Elsewhere, Treasury yields began to ease, with the 10-year note pulling back from three-month highs as investors continued to ponder the path of interest rate cuts.
Geopolitical Tensions Bolster Gold Prices
After toeing the breakeven line for most of the session, oil futures closed Thursday lower. November-dated West Texas Intermediate (WTI) crude fell 58 cents, or 0.8%, to settle at $70.19 per barrel.Gold prices benefited from geopolitical tensions, but palladium — a rare metal that is mostly used in catalytic converters — was the talk of the town as the U.S. and several allies considered sanctions on Russian metals. Gold for December delivery tacked on 0.7% to trade at $2,749.10 at last check.More By This Author:Blue Chips Sitting Out Of Tesla-Fueled Tech Rally
Yield Surge Pressures Major Indexes Sharply Lower
Dow, S&P 500 Heading For 3rd-Straight Loss
