Nasdaq Scores Record Close As Tech Stocks Soar
The Nasdaq held onto its midday triple-digit lead, closing at a new record high thanks to a resurgent tech sector. The S&P 500 logged a modest win of its own -- and closed two-hundredths of a point (0.02) from a record close -- while the Dow lagged the broader market with a 196-point loss. Against this backdrop, Wall Street's "fear gauge," the Cboe Volatility Index (VIX) turned in only its second win of the month.
GOLD FUTURES BOUNCE TO RECORD HIGH
Oil futures dipped Monday, reversing intraday gains amid fears of potential risks to global crude supplies after Iranian President Ebrahim Raisi died in a helicopter crash. In addition, the health of Saudi Arabia King Salman also has investors on edge. After trading as high as $80.60, June-dated West Texas Intermediate (WTI) crude lost 26 cents, or 0.3%, at $79.80 a barrel on the day.
Gold futures jumped to record high today, sent skyward by a conflux of positive catalysts, including potential U.S. interest rate cuts and stimulus measures in China. At last glance, June-dated gold was up $18.40 or 0.8%, to finish the day at $2,435.80.
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