All three major indexes were poised to bounce back today, until a last-minute collapse pared gains. The Dow and S&P 500 were on their way to outsized wins with a half hour to go, but ultimately inched into the red for their third-straight daily losses. The Nasdaq held on, but remains below the psychologically-significant round-number 19,000 level.
While bond yields -- the market's main source of ire the last two days -- retreated later in the day, the 10-year Treasury yield still remains near its highest level since 2007, and the late-afternoon collapse shows they are still on investors' minds.
OIL IN A SLUMP AS OPEC+ PRODUCTION INCREASES LOOM
Oil prices extended their rut, this time weighed down by reports that the Organization of the Petroleum Exporting Countries and its allies (OPEC+), was considering a production increase this summer. June-dated West Texas Intermediate (WTI) lost 37 cents, or 0.6%, to settle at $61.20 per barrel.
Gold prices pulled back today, as profit taking and a stronger dollar emerged. June-dated gold futures lost 0.4% to finish at $3,301 per ounce.
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