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.

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