Dow finished up 18 after a late day rally, advancers over decliners 3-2 & NAZ gained 27.  The MLP index soared 7+ to the 221s & the REIT index fell 3+ to 447.  Junk bond funds remained weak & Treasuries saw a little buying, bringing slightly lower yields.  Oil rebounded 2+ to almost 91 & gold fell 4 to 1772 (more on both below).

AMJ (Alerian MLP Index tracking fund)

MONEY MAYHEM: Yellen determined to pour more money into Dems' spending package

The US & Taiwan will engage in formal trade talks, the office of the US Trade Representative said.  The talks are connected to the US-Taiwan Initiative on 21st-Century Trade, which was announced on Jun 1 & comes amid tense US-China relations.  "Today, we begin negotiations with Taiwan under the auspices of [the American Institute in Taiwan] and [the Taipei Economic and Cultural Representative Office] that will deepen our trade and investment relationship, advance mutual trade priorities based on shared values, and promote innovation and inclusive economic growth  for our workers and businesses," said Deputy US Trade Representative (USTR) Sarah Bianchi.  "We plan to pursue an ambitious schedule for achieving high-standard commitments and meaningful outcomes covering the eleven trade areas in the negotiating mandate that will help build a fairer, more prosperous and resilient 21st century economy."  The negotiations are expected to take place this fall, USTR said.

FORMAL DISCUSSIONS: US to hold wide-ranging trade talks with Taiwan amid tensions with China

Dr. Ashish Jha: BA.5 boosters could be here in the next 3 weeks

Gold futures gave up early gains to suffer a 4th straight session loss, with prices settling at their lowest in 3 weeks on the back of strength in the $, as investors digested the latest economic data & minutes from the Federal Reserve's Jul meeting.  Gold prices for Dec fell $5 to settle at $1771 per ounce, following 3 consecutive sessions of declines.  That was the lowest finish for a most-active contract since Jul 28.  Prices for gold declined following data that revealed a weekly fall in US jobless claims & strength in the $.  The ICE US Dollar index traded 0.9% higher today.  St Louis Fed Pres James Bullard signaled his support for another large 75 basis point rate increase at the central bank's Sep policy meeting.

Gold prices log a 4th straight loss to end at a 3-week low

US oil futures jumped, as recent US gov data showing weekly declines in domestic crude & gasoline supplies helped to ease worries about a recession, pulling West Texas Intermediate (WTI) crude prices to their highest finish in almost a week.  Sep WTI crude rose $2.39 (2.7%) to settle at $90.50 a barrel, the highest front-month contract finish since Aug 12.

U.S. oil futures rally to their highest finish in nearly a week

Dow began the day in the red.  During the midday period, buyers returned & the Dow closed in the black.  No dramatic news for the rise.  Buyers are hoping for the Fed to be gentile with the interest rate hikes & there will not be a "real" recession.  However there are concerns about retailers & home-building has been stumbling..

Dow Jones Industrials