Earnings continued to flood headlines and influence investor sentiment today, giving Wall Street a much-needed boost after yesterday's selloff. Cisco Systems (CSCO) led the Dow 337 points higher, while traders also digested upbeat quarterly reports off the S&P 500. The Nasdaq managed to finish with a comfortable gain, an improvement from Tuesday's tech plunge, as Wall Street digests a second monthly fall in import prices.
Meanwhile, the market's "fear gauge," or Cboe Market Volatility Index (VIX), slipped back below 20, and small caps surged for a fourth day, after a vivid outperformance on the iShares Russell 2000 ETF (IWM).
CRUDE PRICES EXTEND LOSSES
Today marked a fourth consecutive loss for crude prices, the commodity maintaining two-week lows. November-dated West Texas Intermediate (WTI) crude fell 19 cents, or 0.3%, to settle at $70.39 per barrel for the session.
On the flipside, gold futures were enjoying more gains, nearing fresh record highs and a continued drop in the 10-year Treasury yield. Gold for December delivery added 0.5% to trade at $2,692.60, at last check.
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