All three major indexes settled with losses today, brushing off modest midday gains and this morning’s upbeat ADP private payrolls data. Despite a softening labor market — a good sign for the Federal Reserve’s interest rate policy — the Dow and S&P 500 are now mired in a three-day losing streak. Despite the skid, Wall Street’s “fear gauge,” the Cboe Volatility Index (VIX), was range-bound and remains near annual low levels.
OIL FALLS FOR 5TH STRAIGHT
Oil futures dropped for the fifth-straight session after U.S. data showed high gasoline inventories. January-dated West Texas Intermediate (WTI) crude fell $2.94, or 4.1%, to settle at $69.38 a barrel — its lowest level since June.Gold futures are climbing back toward their recent record highs. At last look, February gold futures were up 0.5% at $2,045.50. More By This Author:Stocks Edge Higher On Hopes Of Soft Economic Landing
Dow, S&P 500 Stumble As Bond Yields Retreat
Nasdaq Rises As Jobs Openings Pressure Bond Yields
