As the closing bell rang on Wall Street, stocks maintained a flat trajectory amid a landscape of uncertainty. Investors are bracing themselves for the upcoming Federal Reserve policy meeting, scheduled to kick off tomorrow. Despite semiconductor juggernaut Nvidia (NVDA) executing a 10-1 stock split, the Nasdaq couldn’t dodge its third consecutive day of losses. However, a glimmer of resilience shone through in the form of the Cboe Volatility Index (VIX), colloquially referred to as the “fear gauge,” which snapped a three-day losing streak.
For those seeking further market insights:
Key Highlights of the Day
- Delta Air Lines (DAL) passengers are in for an upgrade, with the announcement of premium economy offerings on transcontinental flights, set to debut in September. (CNBC)
- The sudden drop in gasoline prices, plummeting as much as 10 cents in the past week, has sparked various speculations. (MarketWatch)
- Amidst the buzz surrounding the cryptocurrency world, the burning question remains: Will the crypto rally sustain its momentum through the summer?
- Three stocks basked in the glow of the S&P 500 nod, enjoying a notable surge in performance.
- A contender in the chip industry, struggling to keep pace with the frontrunner, Nvidia.
Today did not witness any significant corporate earnings announcements.
Market Movements: Gold and Oil Updates
In a bid to chase robust energy demand expectations, July-dated West Texas Intermediate (WTI) crude oil clocked a notable $2.21 gain, marking a 2.9% surge to a closing price of $77.74 per barrel – securing black gold’s most substantial single-session upswing since February.
Following a recent nosedive, gold managed to stage a recovery from inflation-induced losses. The June-dated precious metal saw a 0.2% uptick, concluding at $2,328.50 per ounce.