Wall Street's Rally Heats Up As Stocks Score 3rd Daily Win

Wall Street's rally continued into Thursday, with the Dow adding 417 points to log a third-straight, triple-digit win. Tailwinds are still rolling in after yesterday's conclusion of the Federal Reserve's two-day policy meeting, in which the central bank followed through with plans to hike interest rates. However, the Kremlin shot down news that peace talks are progressing between Ukraine and Russia, which kept a lid on today's gains. Meanwhile, the S&P 500 and Nasdaq both finished with respectable leads, and while logging their third consecutive daily pop, the Cboe Market Volatility Index (VIX) turned in its third-straight drop.

The Dow Jones Average (DJI - 34,480.76) added 417.66 points or 1.2% for the day. Dow Inc (DOW) led the gainers with a 5.4% jump, while McDonald's (MCD) paced the losers with a 0.3% drop.

The S&P 500 Index (SPX - 4,411.67) climbed 53.8 points, or 1.2% for the day, while the Nasdaq Composite (IXIC - 13,641.78) rose 178.2 points, or 1.3% for today's session. The IXIC managed to also log a third-straight, triple-digit pop.

Lastly, the Cboe Market Volatility Index (VIX - 25.67) lost 1 point or 3.8% for the day.

closing summary march 17

nyse and nasdaq march 17

Earnings March 17

uvol march 17

OIL, GOLD SNAP LOSING STREAKS

Oil prices moved higher today, with West Texas Intermediate (WTI) crude closing back above the $100 mark follow three daily drops. The International Energy Agency (IEA) reported around 3 million barrels of Russian oil supply could be lost in the coming weeks, as hopes of a ceasefire between the country and Russia slipped. In response, April-dated crude added $7.94 or 8.4%, to settle at $102.98 per barrel.

Gold prices rose as well, nabbing their first win in five as the precious metal was buoyed by a weakened U.S. dollar. Wall Street largely shrugged off any impact interest rate hikes will have on bullion, so April-dated gold gained $34, or 1.8%, to settle at $1,943.20 per ounce.

Disclaimer: Schaeffer's Investment Research ("SIR" or "we" or "us") is not registered as an investment adviser. SIR relies upon the "publishers' ...

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