Stocks End Thursday Session With Modest Losses

The major indexes were able to recuperate some of their deeper losses on Thursday, finishing the day modestly in the red, with the Dow shedding 7 points, and the S&P 500 and Nasdaq both shedding roughly 0.3%. Sentiment on Wall Street was soured today by hawkish comments from St. Louis Federal Reserve President James Bullard. Bullard said in a speech that the Fed's current policy rate is "not yet in a zone that may be considered sufficiently restrictive." In response, bond yields are back in the rise, with the 10-year Treasury yield rising back to 3.773%. 

The Dow Jones Industrial Average (DJI - 33,546.32) lost 7.5 points or 0.02% for the day. Cisco Systems (CSCO) led the Dow with a 5% win, while Salesforce (CRM) paced the laggards with a 3.5% drop.

The S&P 500 Index (SPX - 3,946.56) lost 12.2 points, or 0.3% for the day, while the Nasdaq Composite Index (IXIC - 11,144.96) lost 38.7 points or 0.4%.

Lastly, the Cboe Volatility Index (VIX - 23.93) shed 0.2 points or 0.8% for the session.

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OIL, GOLD PRICES INCH LOWER 

Oil prices plummeted today, settling at their lowest close since late September as sentiment over inflation, Covid-19 cases in China, and a looming recession worsens. December-dated crude lost $3.95, or 4.6% to trade at $81.64 per barrel.

Gold prices also dropped lower after this morning's hawkish Fed comments strengthened the dollar. December-dated gold lost $12.80 or roughly 0.7%, to settle at $1,763 an ounce.


More By This Author:

Fed Comments Continue To Weigh On Stocks Midday
Nasdaq Erases Tuesday's Win As Stocks Step Back
Stocks Choppy as Retail Sector Remains in Focus

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