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The Dow jumped 664 points on Tuesday to mark its best day since Aug. 22 as investors continued to bet on rate cut in December. Optimism grew on the heels of a smaller-than-anticipated jump in retail sales for September, while consumer confidence for November fell below estimates. The Nasdaq and S&P 500 also rallied, with the former reversing midday losses to secure a triple-digit gain, and all three major benchmarks notched their third-straight wins.
Continue reading for more on today's market, including:
Oil prices slumped amid reports of the potential Ukraine-Russia peace deal. January-dated West Texas Intermediate (WTI) crude dropped 89 cents, or 1.5%, to settle at $57.95 per barrel.
Renewed interest rate cut hopes pushed gold higher today. December-dated gold futures added 1.2% to settle at $4,141.70 per ounce.
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