Unable extend yesterday's bounce, stocks settled lower across the board, with the Dow slipping firmly into the red in the last half hour of trading. The S&P 500 and Nasdaq also moved lower, as lawmakers continued to squabble over funding for the Department of Homeland Security and eyed Middle East updates. President Donald Trump claimed negotiations with Iran to end the conflict were "happening right now," while Iranian state media yesterday denied direct talks, with the country continuing to trade attacks with Israel. Meanwhile, crude charged higher, with Brent oil hitting $104 per barrel.
Oil Resumes Climb as Brent Tops $100
Crude resumed its move higher, with Brent surging above $100 as the continued Strait of Hormuz closure continued to plague Wall Street. Now the most active, front-month May-dated West Texas Intermediate (WTI) crude futures rose 4.2% to finish at $91.82 per barrel.
Despite paring earlier losses, gold futures remained in the red for the session due to a stronger U.S. dollar and high Treasury yields. April-dated gold futures dropped 0.3% to finish at $4,395.70 an ounce.
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