The S&P 500 and Nasdaq scored fresh record closes on Tuesday, as cooling Treasury yields and strength in chip stocks boosted sentiment. The Nasdaq added triple digits for its fifth straight win, while the S&P 500 extended its winning streak to four sessions. The Dow climbed 253 points, notching a fourth consecutive gain of its own.
The 10-year and 30-year Treasury yields eased from their recent highs, with the former hovering around 5.28%. Investors also weighed a wider-than-expected August trade deficit of $105.6 billion and now look ahead to tomorrow’s release of the Federal Reserve’s September meeting minutes.
Oil, Gold Move Quietly
Oil prices were little changed today. November-dated West Texas Intermediate (WTI) futures rose 1 cent to settle at $89.44 per barrel.
Gold prices inched higher as Treasury yields eased. December-dated gold futures added 0.6% to settle at $4,182.30 per ounce.
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