The Dow, meanwhile, scored a third-straight win while the VIX popped
The S&P 500 and Nasdaq hit fresh all-time highs midday, and Wall Street looked poised to extend its record-breaking run. However, the surge was short-lived, with both indexes faltering into the red by the close, the latter snapping a seven-day win streak. On the flip side, the Dow snagged a third-straight gain, logging its highest close and best single-session pop in a month.
Elsewhere, the stock market's "fear gauge," or Cboe Volatility Index (VIX), settled at its highest mark since May 29, as investors weighed softening economic data with a low volume, lackluster session.
Continue reading for more on today's market, including:
- Nvidia stock is the culprit behind today's tech pivot.
- 2 pharma stocks making big moves today.
- Plus, HPE makes moves; Musk startup buzz; and two energy stocks to track.
5 Things to Know Today
- Car rental name Hertz (HTZ) is seeing a drop in both its bonds and stock, after revealing a larger-than-expected loss for its current quarter.(MarketWatch)
- SpaceX has unveiled its latest gadget, an antenna for its Starlink Mini in an exclusive release, placing the cost at $599 alongside its monthly data costs. (CNBC)
- All eyes on tech stock after U.K. buyout probe.
- Musk startup deal sends semiconductor stock higher.
- The chip sector is not all Nvidia.
Multi-Week Peaks for Oil, Gold
Crude enjoyed another day hitting seven-week highs, following inventory demand. July-dated West Intermediate (WTI) crude rose 60 cents, or 0.7%, to settle at $82.17 per barrel. August-dated WTI, now the front-month contract, settled at $81.29 a barrel, up 58 cents, or 0.7%.
Economic data managed to send gold to a two-week peak, with investors even more so expecting rate cuts from the Federal Reserve in late 2024. August-dated gold closed $22.10 or 0.9% higher, to settle at $2,369 an ounce.