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The Dow finished the day up 617 points for its best day in nearly three weeks, closing above 46,000 for the first time. The S&P 500 and Nasdaq finished firmly higher as well -- their fourth-straight gain -- while the tech-heavy latter cleared 22,000 for the first time ever. All three major indexes notched record closes -- the Nasdaq's fourth in a row -- and are on track for weekly gains heading into Friday.
Optimism regarding an interest rate cut next week flooded the market today, despite this morning's mixed consumer price index (CPI) data, with jobless claims data offering even more evidence of a weakening labor market. Elsewhere, the 10-year Treasury yield was last seen testing 4% and the Cboe Volatility Index (VIX) logged its lowest close in over two weeks.
Continue reading for more on today's market, including:
Oil prices fell as supply concerns overshadowed global conflicts. October-dated West Texas Intermediate (WTI) crude dropped $1.30, or 2.04%, to settle at $62.37.
Gold prices are still hovering below record highs, dropping slightly after weak U.S. jobs data and profit-taking. U.S. gold futures slid 0.2% to $3,673.60 per ounce.
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