Tech rotation was the story on Wall Street today, as the Dow scored a sixth-straight win and fourth-straight record close. On the other end of the spectrum was the Nasdaq, which sold off for its worst single-session decline since September 2022. The S&P 500, meanwhile, suffered its worst single-session drop since April 30. Amidst this broad market fluctuation, the Cboe Volatility Index (VIX) closed above 14 for the first time since May 30. 

OIL BOUNCES BACK, GOLD SUFFERS PROFIT-TAKING

Oil prices popped today, snapping a three-day skid, after U.S. crude inventories fell for the third straight week. August-dated West Intermediate (WTI) crude added $2.09, or 2.6%, to settle at $82.85 per barrel.

Gold prices roared to all-time highs, initially boosted by the tech selloff, but then suffered a bout of profit-taking. August-dated gold futures were mostly flat, last seen near a record $2,461.88 an ounce for the day.

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