The Nasdaq and S&P 500 eked out modest gains in today's trading, as investors unpacked the latest reading of the consumer price index (CPI), which largely matched expectations with a 7% year-over-year jump. This marked the largest rise in almost 40 years for CPI. The Dow struggled to find direction for most of the session but eventually settled in the black as well.
The Dow Jones Average (DJI - 36,290.32) added 38.3 points or 0.1% for the day. Salesforce.com (CRM) led the gainers today, adding 1.3%, and Goldman Sachs (GS) paced the laggards with a 3.2% fall.
The S&P 500 Index (SPX - 4,726.35) climbed 13.3 points, or 0.3% for the day. Meanwhile, the Nasdaq Composite (IXIC -15,188.39) moved 34.9 points higher, or 0.2%, for today's session.
Lastly, the CBOE Volatility Index (VIX - 17.62) shed 0.8 points or 4.3% for the day.
GOLD LANDS 4 STRAIGHT ON HEELS OF CPI DATA
Oil prices locked in a nearly two-month high, after the Energy Information Administration (EIA) posted a weekly decline of 4.6 million barrels. February-dated oil added $1.42, or almost 1.8%, to finish at $82.64.
Gold marked a fourth-straight win this afternoon, buzzing on the heels of the latest CPI data. February-dated gold added $8.80, or 0.5%, to close at $1,827.30 per ounce -- its highest settlement of 2022 so far.
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