The Dow logged a triple-digit loss today, halting its win streak at three, with the Fed meeting minutes from June unable to spark a late-afternoon rally. The central bank's notes signaled more interest rate hikes ahead -- albeit at a slower pace. What rattled investors today was news that an unspecified number of Fed officials were in favor of a rate hike last month. The S&P 500 also saw its three-day win streak snapped, while the Nasdaq finished marginally lower, despite a brief foray in the black this morning.
GOLD DINGED BY HAWKISH FED MINUTES
Oil futures climbed today, boosted by Saudi Arabia's comments at an Organization of the Petroleum Exporting Countries & allies (OPEC+) seminar. August-dated crude tacked on $2.00, or 2.9%, to settle at $71.79 per barrel -- a two-week high.
Gold prices fell as the details of the Fed minutes were unpacked. August-dated gold shed $2.40, or 0.1%, to close at $1,927.10 an ounce.
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