Stocks were a mixed bag Tuesday, as traders monitored Middle East developments closely. Thanks to resurgent memory stocks like Sandisk (SNDK), the Nasdaq scored another record close and a fourth-straight win. Following its best single-day percentage gain in over a month, the S&P 500 finished virtually flat today, while the Dow shed 185 points. Meanwhile, Wall Street's "fear gauge," the Cboe Volatility Index (VIX) logged its lowest close of the year.
Oil Extends Retreat on Middle East Promises
Crude oil prices moved lower for the fifth-straight session Tuesday, after President Trump reported a "very good meeting" with the Iran delegation, and hinted a resolution could come after the midterm elections. West Texas Intermediate crude shed just 1.2% to settle at $94.59 per barrel.
Gold prices also fell, while the U.S. dollar and Treasury yields gained slightly. December-dated futures dropped 0.9% to settle at $4,345.80 per ounce.
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