The Dow continued to outperform, adding 213 points to kick off November trading. The S&P 500 and Nasdaq, on the other hand, pivoted into the red for their third-straight losses, as investors rotated out of large-cap tech names. Meanwhile, oil prices and bond yields retreated today, while the small cap Russell 2000 (RUT) nabbed its fifth win in the last six sessions. Despite the positives, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), closed above 20 for the first time since July 29.
Oil Prices Log Worst Day in Over 3 Months
December-dated West Texas Intermediate (WTI) dropped 7.4%, or $7.90, to close at $96.46, after President Donald Trump told reporters that Iran wants to make a deal. It was black gold's worst one-day decline since July 27.
Gold prices bounced back from Friday's selloff thanks to cooling crude. December-dated gold futures gained 1.8%, or $50, to settle at $3,919.60 per ounce.
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