Dow Tacks On 3rd-Straight Triple-Digit Win
Wall Street's October rally keeps on chugging. The Dow marked its third consecutive triple-digit win, adding 337 points, while the S&P 500 and Nasdaq also extended their win streaks for a third-straight session. Cooling Treasury yields boosted sentiment today, as Alphabet (GOOGL) and Microsoft (MSFT) take to the earnings confessional after the close.
Elsewhere, consumer confidence took a turn lower in September, while home prices fell at a record pace in August. This has left some investors hoping the Federal Reserve will back off its hawkish stance sometime soon. Against this backdrop, the Cboe Volatility Index (VIX) logged its lowest close in over a month.
The Dow Jones Average (DJI - 31,836.74) added 337.1 points or 1.1% for the day. Nike (NKE) led the gainers, adding 4.2%, while Travelers (TRV) paced the laggards with a 2.1% loss.
The S&P 500 Index (SPX - 3,859.11) rose 61.8 points or 1.6% for the day. Meanwhile, the Nasdaq Composite (IXIC - 11,199.12) gained 246.5 points or 2.3% for the session.
Lastly, the Cboe Volatility Index (VIX - 28.46) fell 1.4 points or 4.7% for the session.
GOLD PRICES NUDGE HIGHER AS U.S. DOLLAR COOLS
Oil prices edged higher on Tuesday, despite tight supply concerns after China revealed crude imports are down 4.3% compared to a year ago, despite rising to 9.8 billion barrels in September. November-dated crude rose 74 cents, or 0.9%, to finish at $84.58 per barrel.
Gold settled higher as well, thanks in large part to a weaker U.S. dollar and retreating Treasury yields. In response, December-dated gold added $3.90, or 0.2%, to close at $1,658 an ounce.
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