Easing U.S.-China trade tensions and cooler inflation data fueled another round of risk-on buying today. The S&P 500 clawed back into positive territory for the year, while the Nasdaq popped on strength from chip stocks after Nvidia's (NVDA) deal with Saudi Arabia. The Dow lagged, however, closing 269 points lower after UnitedHealth Group's (UNH) CEO departure and suspended guidance. 

GOLD BOUNCES BACK

CRUDE OIL PRICES SURGED TODAY, BOOSTED BY THE U.S.-CHINA TARIFF TRUCE AND A SOFT INFLATION READING. JUNE-DATED WEST TEXAS INTERMEDIATE (WTI) ROSE $1.72, OR 2.8%, TO SETTLE AT $63.67 PER BARREL. 

Gold prices also rebounded, as bargain-hunters stepped in following Monday’s slide. Softer inflation data provided an added lift. June-dated gold futures rose 0.8% to finish near $3,254 per ounce.

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