Stocks concluded the day with little fanfare, maintaining a flat trajectory as all attention turned towards the imminent commencement of the Federal Reserve’s two-day policy meeting. Even a notable 10-1 stock split within the semiconductor realm featuring Nvidia (NVDA) failed to shield the Nasdaq from succumbing to a third consecutive loss. Conversely, the Cboe Volatility Index (VIX), commonly referred to as the “fear gauge,” showcased resilience by halting a three-day decline.
Dive deeper into today’s market highlights:
Key Points to Keep in Mind
- Passengers flying transcontinental routes with Delta Air Lines (DAL) are set to enjoy an upgrade, as the company announced plans to introduce premium economy on flights starting September. (CNBC)
- Speculation abounds regarding the unexpected dip in gasoline prices, with reports indicating a drop of up to 10 cents over the past week.(MarketWatch)
- Can the current surge in cryptocurrencies maintain momentum throughout the summer?
- Three stocks benefited from a boost following their inclusion in the S&P 500.
- A notable Nvidia competitor seems to be lagging behind the frontrunner in the market.
No major corporate earnings announcements were made today.
Gold and Oil Register Modest Gains
On the heels of growing expectations for heightened energy consumption, the price of July-dated West Texas Intermediate (WTI) crude soared by $2.21, representing a substantial 2.9% surge to conclude the session at $77.74 per barrel – marking the most significant single-day increase for the “black gold” commodity since February.
Following a notable decline on Friday, gold managed to recoup its losses driven by inflation concerns. The June-dated product closed with a 0.2% gain, settling at $2,328.50 per ounce.
