Dow, Nasdaq Bounce Back With Triple Digit Wins

Stocks got back to their winning ways today, with the Dow and Nasdaq securing triple-digit pops, the latter logging a record close. After some midday waves that followed the hotter-than-expected producer price index (PPI), Wall Street eventually found its sea legs thanks to the downwardly revised wholesale prices reading. Now, investors shift their focus to the consumer price index (CPI) report due out tomorrow morning. 

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Oil prices drifted toward nine-week lows today after the Organization of the Petroleum Exporting Countries (OPEC) left its demand forecast unchanged for 2024. with June-dated West Texas Intermediate (WTI) crude shed $1.10, or 1.4%, at $78.02 a barrel.

Gold prices rose today, taking their cues from the PPI report. June-dated gold futures added 0.6%, to trade at $2,356.70 per ounce.  

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