Stocks were a resilient bunch today, shaking off the Moody's downgrade to finish well off their session lows. The Dow jumped 137 points for a third-straight win, paring a triple-digit loss from the morning. The S&P 500 and Nasdaq finished just above breakeven, the former securing a six-day win streak. Despite Wall Street steadying, the Cboe Volatility Index (VIX) logged its biggest single-session gain since April 21.
SAFE-HAVEN ASSETS BOUNCE BACK
Oil prices finished marginally higher today, as stalled talks between the U.S. and Iran offset the Moody's downgrade. June-dated West Texas Intermediate (WTI) rose 20 cents, or 0.3%, to settle at $62.69 per barrel.
The credit downgrade was a boon for safe-haven assets today. June-dated gold futures gained 1.5% to finish at $3,223 per ounce on the day.
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