Dow Breaks Higher Despite Lingering Recession Woes

Recession fears continued to dominate Wall Street on Thursday, though traders also unpacked a drop in weekly jobless claims. After trading on both sides of the aisle, the Dow settled 194 points higher, while both the Nasdaq and S&P 500 also erased earlier losses to post solid gains. Meanwhile, the Cboe Volatility Index (VIX) snapped a four-day losing streak. Consumer staple stocks led the gainers, with the energy sector bearing the brunt of losses as oil prices plummeted amid demand concerns.

The Dow Jones Average (DJI -30,677.36added 194.2 points or 0.6% for the day. Salesforce (CRM) led the gainers, adding 3.3%. Caterpillar (CAT), meanwhile, paced the laggards with a 4.9% drop.

The S&P 500 Index (SPX - 3,795.73) rose 35.8 points or 1% for the day. Meanwhile, the Nasdaq Composite (IXIC - 11,232.19) gained 179.1 points or 1.6% for the session.

Lastly, the Cboe Market Volatility Index (VIX - 29.05) added 0.1 points or 0.4% for the day.

closing index summary june 23

nyse and nasdaq june 23

earnings june 23

uvol june 23


GOLD PRICES EXTEND LOSSES AS U.S. DOLLAR STRENGTHENS

Oil prices finished lower for a second-straight session on Thursday to notch another six-week closing low. Demand concerns weighed on black gold today, as traders anticipated an economic slowdown. In turn, August-dated crude dropped $1.92, or 1.8%, to settle at $104.27 per barrel.

Gold prices also settled lower, extending their losing streak for a fourth consecutive day. The precious metal took a hit after Federal Reserve Chairman Jerome Powell reiterated his commitment to fighting inflation before the House Financial Services Committee, as the U.S. dollar regained strength. August-dated gold fell $8.60, or 0.5%, to close at $1,829.80 an ounce.

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