Tomorrow's FOMC meeting is already taking center stage
Stocks finished their relatively modest trading day flat or higher, as all eyes locked in on tomorrow's start to the Fed's two-day policy meeting. A 10-1 stock split with semiconductor sweetheart Nvidia (NVDA) was just enough to keep the tech-heavy Nasdaq from tacking on a third-straight loss. Even further, the index and S&P 500 managed to eke out record closes.* The stock market's "fear gauge," or Cboe Volatility Index (VIX), snapped a three-day losing streak.
*Editor's Note: In a previous version we stated the Nasdaq closed with a third-straight loss. We apologize for the error.
Continue reading for more on today's market, including:
5 Things to Know Today
- Transcontinental flights are getting a boost for Delta Air Lines (DAL) passengers, after the company announced plans to bring premium economy to the flights in September. (CNBC)
- Theories are bouncing around as to why gasoline prices have dropped as much as 10 cents in the past week. (MarketWatch)
- Is the crypto rally sustainable this summer?
- 3 stocks enjoyed the S&P 500 bump.
- Nvidia rival falling behind the leader.
There are no corporate earnings to report today.
Gold, Oil Sport Modest Wins
On the back of hope for stronger energy demand, July-dated West Intermediate (WTI) crude tacked on $2.21, or 2.9%, to close at $77.74 per barrel, black gold's best single-session pop since February.
Following Friday's steep fall, gold managed to recover its inflation-driven losses. The June-dated commodity closed up 0.2%, to settle at $2,328.50 an ounce.