Stock markets in the U.S. continue to trade in a narrow range. After a record-setting day yesterday, in which the Nasdaq set a new high and the S&P closed at its second-highest level ever, equity markets retreated slightly today.
The Industrials closed down 37 points, with the Transports following the decline, down 0.4%. Utilities were flat on the day while the Nasdaq fell 0.4% and the broader market fell 0.3%. Breadth was also down, with declining issues outpacing advancing.
In commodity markets, crude oil continued to decline, falling another 3% to roughly $41.50 per barrel. The move lower dragged the energy sector with it, which posted the biggest decline, falling 1.4%.
Gold managed to creep higher, adding $5 per ounce, while silver edged 32 cents higher. Both metals finished near the midpoint of their trading ranges for the day. Miners rose, with XAU up 1.4% at the close.
The dollar edged lower while Treasury prices rose. ... Log in or subscribe to continue reading.