The Dow closed 68 points lower today, as blue-chip stock Johnson & Johnson's (JNJ) vaccine distribution pause weighed on sentiment, with six reported cases of blood clots in patients post-inoculation. On the flip side, the S&P 500 rose to a new record close, while the Nasdaq finished the day with triple-digit gains. Investors have been unpacking higher-than-anticipated inflation data after the consumer price index (CPI) rose 0.6% from last month and 2.6% year-over-year -- its highest in two and a half years. According to the Federal Reserve, the uptick is likely temporary, which would help the Fed's current plan to keep monetary policy the same.
The Dow Jones Industrial Average (DJI - 33,677.27) fell 68.1 points today, or 0.2% for the day. Apple (AAPL) topped the list of blue chips, adding 2.4%, while IBM (IBM) dropped to the bottom after shedding 2.5%.
Meanwhile, the S&P 500 Index (SPX - 4,141.59) added 13.6 points, or 0.3%, for the day, and the Nasdaq Composite (IXIC - 13,996.10) gained 146.1 points, or 1.1%.
Lastly, the Cboe Volatility Index (VIX - 16.65) lost 0.3 points, or 1.5%, for the day.
GOLD, OIL GAIN ON FRESH ECONOMIC UPDATES
Oil futures closed higher for a second day, after a strong 2021 forecast for oil demand from the Organization of the Petroleum Exporting Countries (OPEC). May-dated crude rose 48 cents, or 0.8%, to settle at $60.18 a barrel.
Gold futures rose today after the higher-than-expected inflation data. June-dated gold closed up $14.90, or 0.9%, to settle at $1,747.60 an ounce.
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