Wall Street's bounce back efforts were met with mixed results today. The S&P 500 finished modestly higher, while the Nasdaq added 220 points thanks to a stabilizing semiconductor sector. The Dow finished lower, paring a triple-digit gain from the morning. All three major indexes closed well off their morning session highs, as stubborn oil prices and geopolitical tensions in the Middle East remain an overhang. Despite the choppiness, Wall Street's "fear gauge," the Cboe Volatility Index (VIX) retreated back below 20.
Oil Prices Higher as Middle East Tensions Simmer
Oil prices gained, as the weekend hostilities between Iran and Israel rattle commodities. Black gold pared its larger returns though, after both sides agreed to hold off on further attacks. July-dated West Texas Intermediate (WTI) gained 0.8% to settle at $91.30 a barrel.
Gold prices fell for the second straight session. August-dated gold futures lost 0.3% to settle at roughly $4,352.30 per ounce.
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