Stocks finished mostly higher Wednesday. The S&P 500 and Nasdaq Composite shaking off Tuesday's Iran-fueled slide after July's consumer-price index matched Wall Street's expectations. The Dow, however, finished just below flatline, unable to keep pace. A resurgent AI trade was the talk of Wall Street today, while CME's FedWatch tool indicated a 60% chance — up from 45% a week ago — the Fed keeps interest rates steady at its September meeting. Against this backdrop, the Cboe Volatility Index (VIX) logged its lowest close since Jan 9.
Gold Nears 10-Week High on Cooler CPI
Oil prices were little changed Wednesday, as attacks on vessels in the Red Sea and Gulf of Oman kept black gold in check. September-dated West Texas Intermediate (WTI) crude added 7 cents to settle at $83.27 per barrel.
Gold prices logged a fourth-straight win today, approaching a 10-week high after July's inflation data fell in line with estimates. August-dated gold futures rose 1.2% to settle at $4,408.90.
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