Stocks ushered in August -- a historically bearish month -- with wins across the board. The Dow added 693 points to notch a record close and extend its winning streak to three sessions. The S&P 500 and Nasdaq secured their third-straight wins as well, helped by gains in Big Tech, with the former now within striking distance of its own record high. The small-cap Russell 2000 (RUT), meanwhile, logged its best single-session gain in over a month. As investors cheered cooling oil prices, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), logged its lowest close in three weeks.
Oil Pulls Back, But Holds $80/barrel
Oil prices sold off today after the U.S. suspended Iran attack plans. September-dated West Texas Intermediate (WTI) crude shed 5.1% to settle at $80.34 per barrel.
Gold prices moved lower for the second-straight session as the U.S. dollar fell. August-dated gold futures gave back 0.3% to settle at $4,033.70 per ounce.
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