Wall Street Logs Big Win as VIX Continues Slide

Wall Street's "fear gauge" remains near pre-pandemic lows

Deputy Editor
Jun 8, 2023 at 4:23 PM
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Wall Street logged impressive gains Thursday, as investors unpacked jobs data and looked towards the Federal Reserve's next interest rate decision. The Dow and Nasdaq both added triple digits -- a third-straight win for the former -- while the S&P 500 also closed comfortably in the black. Meanwhile, the Cboe Volatility Index (VIX) extended its drop, while the Russell 200 Index (RUT) took a breather.

Continue reading for more on today's market, including:

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5 Things to Know Today

  1. The supply of homes for sale is roughly half of what it was in 2019. (CNBC)
  2. A media report alleged the White House was near an interim deal with Iran to diminish the latter's nuclear program in return for sanction relief. (MarketWatch)
  3. GameStop stock's no good, very bad day.
  4. Why one analyst is bullish on this telecom stock.
  5. Cardinal Health's stock buyback program.

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Oil Pulls Back on Potential Iran Sanction Relief 

The media report alleging a U.S.-Iran nuclear deal put pressure on oil futures today. For the session, July-dated crude lost $1.24, or 1.7%, to close at $71.29 per barrel.

Gold prices recovered most of yesterday's losses, as the U.S. dollar weakened against unemployment data. August-dated gold added $20.20, or 1%, to close at $1,978.60 an ounce for the day.

 

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