The Dow and S&P 500 both extended their win streaks to seven straight sessions on Tuesday, while the Nasdaq saw a triple-digit win and marked its eighth consecutive day in the black as tech stocks enjoyed a decline in Treasury yields. Both the S&P 500 and Nasdaq secured their longest winning runs since November 2021, too. Elsewhere, Wall Street’s “fear gauge” — the Cboe Volatility Index (VIX) — is on its worst losing streak since April, after today registering its seventh daily loss in a row.
OIL MOVES SHARPLY LOWER AS CONCERNS ARISE
Oil prices fell sharply on Tuesday to close at their lowest level since July, after dismal economic data out of China spurred fears of stagflation. December-dated West Texas Intermediate (WTI) crude dropped $3.45, or 4.3%, to close at $77.37 a barrel.Gold prices moved lower as well and settled at their lowest level since Oct. 18, amid a bout of profit-taking. December-dated gold shed $15.10, or 0.7%, to close at $1,973.50 an ounce for the day.More By This Author:Wall Street Looks To Extend Red-Hot RallyNasdaq Bags Longest Win Streak Since JanuaryWall Street Clings To Last Week’s Rally