7th Heaven For S&P 500, Nasdaq As Stocks Soar Into CPI

The S&P 500 and Nasdaq closed at session highs today to make it seven straight wins, with both indexes also logging their sixth and seventh-straight record close, respectively. The former is now on its best win streak since October, while the tech-heavy latter got a boost from resurgent chip stocks.

The Dow followed suit with a triple-digit pop of its own, surging into the close at session highs for its best single-day gain since May 31. All eyes now turn to tomorrow morning, when June's consumer price index (CPI) will shape price action to end the week. 

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Crude prices snapped a three-day skid today, gathering strength from a weekly decline in U.S. crude inventories for the second week running. August-dated West Intermediate (WTI) crude added 69 cents, or 0.9%, to settle at $82.10 per barrel.

Gold prices rose in anticipation of potentially encouraging CPI data tomorrow. August-dated gold added 0.7% to settle at $2,384.80 an ounce for the day.

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