Unable to maintain their healthy midday gains, the major indexes finished the session mixed. Investors weighed comments from Fed President Jerome Powell, who noted that even with rising energy prices, inflation expectations were "well anchored beyond the short term."
A struggling tech sector pulled both the S&P 500 and Nasdaq into the red, while rising banks and utility stocks helped the Dow score a modest gain. Alleged peace talks with Iran were overshadowed by President Donald Trump's threats that the U.S. would attack oil wells if a deal isn't reached shortly.
Oil, Gold Prices Push Higher
Crude prices continued to surge amid Trump's Iran threats, with Brent eyeing its largest monthly gain ever. Front-month May-dated West Texas Intermediate (WTI) crude futures rose 3.25%, or $3.24, to finish at $102.88 per barrel on the day -- its highest close since 2022.
Gold futures rose alongside safe-haven demand, as traders pushed aside geopolitical uncertainty. April-dated gold futures added $33.40 to finish at $4,526 an ounce for the day.
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