Wall Street wrapped up the first day of February on a positive note. The Dow added 273 points, while the S&P 500 and Nasdaq both walked away with sizable gains, as all three major benchmarks nabbed their third consecutive daily wins. Meanwhile, Wall Street's "fear gauge" -- the Cboe Volatility Index (VIX) -- registered its fourth-straight loss to settle at its lowest level in just over two weeks.
Keeping today's optimism in check was the latest ISM manufacturing index, which hinted at slowing economic growth after hitting a 14-month low. Traders are now eyeing this week's batch of corporate earnings reports, as Alphabet (GOOGL) stepped into the confessional after the close.
The Dow Jones Average (DJI - 35,405.24) climbed 273.4 points or 0.8% for the day. Boeing (BA) led the gainers today with a 4.1% pop, while UnitedHealth Group (UNH) paced the laggards with a 0.9% drop.
The S&P 500 Index (SPX - 4,546.54) added 31 points, or 0.7%, while the Nasdaq Composite (IXIC - 14,346.00) tacked on 106.1 points, or 0.8%, for today's session.
Lastly, the Cboe Volatility Index (VIX - 21.96) shed 2.9 points or 11.6% for the day.
GOLD SETTLES ABOVE KEY LEVEL AS CURRENCY MARKETS FALTER
Oil prices edged higher on Tuesday, hovering near a seven-year highs as investors awaited a decision from the Organization of the Petroleum Exporting Countries and their allies (OPEC+). The group is expected to increase production to 400,000 barrels per day for March. In turn, March-dated oil added 5 cents, or 0.1%, to settle at $88.20 per barrel.
Gold prices were also higher, settling above the psychologically significant $1,800 level for the first time in roughly one week. Boosting the yellow metal was apparent weakness in the currency market. April-dated gold added $5.10, or 0.3%, to close at $1,801.50 per ounce.
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