The Dow shed over 344 points on Monday, while the S&P 500 marked a slim loss of its own, as both indexes took a breather from last week’s record highs. Meanwhile, the Nasdaq managed to reverse earlier losses to extend its daily win streak to four. Driving negative sentiment was a rising 10-year , as well as the continuation of earnings season, with homebuilding and consumer goods stocks bearing the brunt of today’s losses.
Oil Carves Out Modest Gains After Rough Week
On the back of last week’s lowered benchmark lending rates in China, oil recovered some of these losses today. November-dated West Texas Intermediate (WTI) crude added $1.34, or 1.9%, to settle at $70.56 per barrel for the session.Cooling off from last week’s notable performance, gold futures logged a more modest win for the session. Amid rising Treasury yields and U.S. dollar, gold for December delivery added 0.3% to trade at $2,738.90 at last check.More By This Author:
Surging Bond Yields Drag Dow; Nasdaq Reverses Losses
