Gold fell 3.54% and oil 4.14% as the dollar rose. Traders are betting on a calmer world — cheaper fuel helps inflation, but the move could snap back if Friday's PCE runs hot.
The S&P 500 inched up 0.12% and the Dow slipped 0.09%. Markets are holding their breath for the Fed's preferred inflation reading, due Thursday.
Another big chipmaker is paying up for AI software talent. The deals keep coming, a reminder that the AI spending race is far from cooling off.
Stocks barely moved. The S&P 500 ticked up 0.12%, the Nasdaq held flat, and the Dow slipped a hair. The real action was in commodities. Oil dropped 4.14% and gold fell 3.54% — both big moves for safe-haven and energy assets. When gold and oil sell off together while the dollar climbs, it usually means traders are dialing down their fear and betting on a calmer world. Quiet stocks, loud commodities. That's the day.
The gold drop is the one to watch. A 3.5% fall in one day means money is leaving the panic trade. That's good if you own stocks — it suggests confidence ahead of Friday's PCE inflation report, the Fed's favorite price gauge. But it's a setup. If PCE comes in hot, all that calm reverses fast, and the bets unwinding today get put right back on. Cheaper oil helps consumers and cools inflation, so the two stories could cancel out — or collide.
Sherwin-Williams sells paint and coatings, and factories and builders are buying less of it. That's a quiet warning sign: when an industrial bellwether struggles, it usually means the broader manufacturing economy is soft. If you own funds tied to housing, construction, or industrials, this is a hint that demand is cooling.
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