Stocks Pare Midday Slump; Dow Logs Another Record Close
Wall Street logged a third-straight win across the board today, with the Dow paring a hefty triple-digit midday loss and scoring another record close. The S&P 500 finished higher but is yet to overcome the 5,000 level for the first time ever, achieving an intraday high of 4,999.89. The tech-heavy Nasdaq, meanwhile, logged a modest win even after bond yields rose, the 10-year Treasury note touching 4.16% earlier today.
OIL PRICES LOG 4TH CONSECUTIVE WIN
Oil futures marked their fourth consecutive win, after Israel rejected a proposal made by Hamas for a ceasefire and release of hostages in Gaza. Further heightening tensions in the Middle East, the U.S. killed a militant commander in Iraq. For the session, March-dated West Texas Intermediate Crude (WTI) added $1.60, or 2.2%, to finish at $75.46 per barrel.
Gold prices continued to be influenced by a firm dollar and higher bond yields.April-dated gold lost $3.80, or 0.2%, to settle at $2,047.90 for the session.
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