The Dow scored its third-straight gain today, although inflation tailwinds wore off as the closing bell sounded. The blue-chip index was up over 325 points at its session highs, but still finished with solid gains to extend its hot streak. The S&P 500 and Nasdaq locked up three-day win streaks of their own, both closing at their highest level since April 2022. With investors reassessing the Fed's interest rate policy, the Cboe Volatility Index (VIX) logged its worst single-session drop since June 1. 

COMMODITIES ENJOY CPI TAILWINDS

Oil prices scored back-to-back gains today as the Organization of the Petroleum Exporting Countries and their allies' (OPEC+) supply cuts offset a weekly gain in U.S. commercial crude inventories. August-dated oil tacked on 92 cents, or 1.2%, to settle at $75.75 per barrel.

Gold prices stayed hot as well, buoyed by the prospect of a less-hawkish Fed. August-dated gold added $24.60 or 1.3%, to close at $1,961.70 an ounce.

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