Stocks extended their midday gains, with the Dow and Nasdaq both finishing over 400 points higher -- the latter for its fourth-straight daily win alongside the S&P 500. A softer-than-expected PPI reading gave the market a boost, though investors are looking ahead to tomorrow's highly anticipated CPI data for a clearer inflation picture. The Fed's rate cut timeline remains a hot topic, while Atlanta Fed President Raphael Bostic blew off recession fears at a conference today.
Oil Prices Turn Lower
Oil prices snapped a five-day win streak as concerns of an attack on Israel by Iran faded. September-dated West Texas Intermediate (WTI) crude fell $1.71, or 2.1%, to close at $78.35 a barrel.
Gold prices are hovering near their July all-time highs. U.S. gold futures rose 0.1% to $2,507.50 per ounce.
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