Stocks Surge To Start June As "Fear Gauge" Folds

Stocks kicked off June on the right foot, with the Dow and Nasdaq enjoying triple-digit gains despite a sluggish start. The S&P 500, meanwhile, clocked its fourth win in five trading days. All eyes remain on debt ceiling talks, with the bill now slated to hit the Senate floor for approval. Elsewhere, ADP private payrolls data showed larger-than-expected growth, and the Cboe Volatility Index (VIX) closed below 16 for only the second time since November 2021.






Crude prices managed to recover some of its recent losses in today's trading, shifting back above the key $70 level for the first time in nearly a week. West Texas Intermediate (WTI) July-dated crude added $2.01, or 3%, to close at $70.10 per barrel.

Gold is also making upbeat moves too, climbing ahead of the round $2,000 mark for the first time in weeks. August-dated gold added $13.40, or 0.7%, to close at $1,995.50 an ounce.

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