The Dow managed to fight its way into the black this afternoon, finishing just above breakeven alongside the S&P 500, while the Nasdaq added triple digits as chip stocks rebounded from yesterday's selloff. Investors digested this morning's softer-than-expected CPI data as bank earnings began to roll in, though geopolitical tensions remained in focus. President Trump dropped his demand that ships transiting the Strait of Hormuz pay a fee of 20% for U.S. military protection ahead of the blockade, though the U.S. continued its launch of airstrikes on Iran.
Gold Futures Climb Following Inflation Report
Oil prices rose after the U.S. moved forward with airstrikes against Iran. August-dated West Texas Intermediate (WTI) rose 1.5% to close at $79.34 per barrel.
Gold prices climbed after today's soft inflation data. August-dated gold futures gained 1.6% to settle at $4,069.70 per ounce.
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