Wall Street Slumps As Inflation Gauge Looms
Wall Street has fallen victim to profit-taking since nabbing record highs all around on Friday. Despite a mostly upbeat GDP report, the Dow logged a third-straight loss, while the tech-heavy Nasdaq logged its fourth loss in the last five trading days. Now, all eyes turn to the personal consumption expenditure reading for January -- the Federal Reserve's favorite inflation gauge -- due out tomorrow.
OIL, GOLD FUTURES FALL
Oil futures fell after government data showed domestic commercial crude inventories rose for a fifth straight week. For the session, April-dated West Texas Intermediate (WTI) lost 33 cents, or 0.4%, to finish at $78.54 per barrel.
Gold futures were slightly lower as well, with April-dated gold shed $1.40, or 0.07%, to settle at $2,042.70 per ounce.
More By This Author:
Indexes Remain Lower Midday; UnitedHealth Stock Drags Dow
Dow Drops As Nasdaq Nears Record Close
Stocks Mixed As Consumer Confidence Falls