Stocks reversed earlier losses and finished higher Thursday as Treasury yields retreated from session highs and oil prices cooled, helping ease inflation concerns and boost sentiment. The Dow notched a new record close after surging triple digits for a second day, while the S&P 500 and Nasdaq both logged modest gains. Meanwhile, Nvidia’s strong earnings report did little to surprise investors.
Oil Extends Pullback on Resolution Hopes
Oil extended its pullback Thursday and earlier fell below $100 per barrel as hopes for a U.S.-Iran resolution continued. June-dated West Texas Intermediate (WTI) shed 1.9% to settle at $96.35 per barrel.
Gold prices finished higher for a second day as Treasury yields cooled down. June-dated gold futures added 0.2% to settle at $4,539.80 per ounce.
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