Stocks bounced back in dramatic fashion today, as falling bond yields overshadowed a rotation out of tech. The Dow added 874 points for a record close and its best single-session pop since April 8. The S&P 500 and Nasdaq both erased sharp deficits from the morning, though the tech-heavy latter ultimately closed in the red amid a post-earnings selloff from Broadcom (AVGO). Small caps were an underrated winner today, with the Russell 2000 Index (RUT) nabbing a record close.
Oil Pivots Lower as Bullion Rises
Oil prices took a much-needed breather, after a Wall Street Journal report indicated President Donald Trump is hesitant to restart hostilities against Iran. July-dated West Texas Intermediate (WTI) shed 3.1% to settle at $93.04 a barrel.
Gold prices gained today, as the U.S. dollar fell and bond yields pulled back. June-dated gold futures added 0.9% to $4,508 per ounce.
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