How Did the Stock Market Do Today? Dow Sheds 11 Points

How did the stock market do today ? All major benchmarks erased earlier gains in the last 15 minutes of trading to close in the red. The Dow Jones fell 11 points.

Investors weighed fluctuations in the U.S. dollar and its effect on global commodity prices.

Gold prices rose $3.10 to hit $1,187.70 per ounce. Silver prices climbed one cent to $16.89 an ounce.

Today's Scorecard:

Dow: 18,116.04, -11.61, -0.06%

S&P 500: 2,104.42, -3.68, -0.17%

Nasdaq: 5,010.97, -15.44, -0.31%

What Moved the Stock Market Today : The markets were relatively muted this afternoon as investors are still digesting monetary policy decisions from the U.S. Federal Reserve. Stanley Fischer, who is second-in-command at the Federal Reserve, said this morning that the bank is "widely expected" to raise interest rates later this year and that the decision could come after any FOMC meeting when policy makers feel the time is right.

Brent crude oil prices gained roughly 1.1% on the day, despite increased concerns about global oversupply. Saudi Arabia announced today it is pumping more than 10 million barrels of crude per day, a new record for the region. Domestic oil prices gained 1.5% on a weaker dollar. Investors will be keeping a tight eye on inventory reports due out later this week.

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How Did the Stock Market Do Today? Dow Sheds 11 Points