Dow Snaps Losing Streak Despite Hawkish Fed Comments

The Dow managed to snap its six-day losing streak today, with help from UnitedHealth (UNH) stock's post-earnings rally, while the S&P 500 and Nasdaq finished modestly in the red after a choppy afternoon. Investors focused in on Fed Chair Jerome Powell's comments highlighting elevated inflation and the unlikelihood of there being interest rate cuts any time soon. Subsequently, bond yields continued to climb, with the 10-year Treasury yield rising above 4.7%. 

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OIL POSTS BACK-TO-BACK LOSSES

Oil prices inched lower for the second day, as concerns regarding conflict in the Middle East tentatively ease. May-dated West Texas Intermediate (WTI) fell 5 cents, or nearly 0.1%, to $85.36 a barrel. 

Gold prices rose once again, though still not touching Friday's record highs. June-dated gold futures settled 1% higher at $2,407.80. per ounce.  


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