The Dow pushed its way back into positive territory at the close today
It was a wild end to the trading week on Wall Street that ultimately was much ado about nothing. The Dow Jones finished marginally higher, digging out of a brief foray into the red. Meanwhile, the S&P 500 fell short of a record high yet again, and ultimately closed in the red despite spending the afternoon in positive territory. The Nasdaq Composite ended the day with a minimal loss as well, after several technology stocks dropped.
Investor sentiment was not particularly optimistic today, with lawmakers somehow even farther away from reaching a stimulus agreement in Washington as Senate entered recess until after Labor Day. To make matters worse, retail sales data for July came in below analyst expectations.
Continue reading for more on today's market, including:
- Kroger's options pits exploded today.
- A restaurant stock is flashing an intriguing bull signal.
- Plus, AutoZone adds jobs; a Chinese stock under investigation; and our latest podcast on TikTok and split stocks.
The Dow Jones Industrial Average (DJI - 27,931.02) gained 34.3 points, or 0.1% for the day, and 1.9% for the week. Walgreens Boots Alliance (WBA) finished with a 2.2% jump, pacing the 17 gainers. American Express (AXP) paced the 13 laggards with a less than 1% fall.
Meanwhile, the S&P 500 Index (SPX - 3,372.85) added 0.6 points, or was flat for the day, and up 0.7% for the week. The Nasdaq Composite (IXIC - 11,019.30) dropped 23.2 points, or 0.2% for today's session, and 0.6% for the week.
Lastly, the Cboe Volatility Index (VIX - 22.05) lost 0.1 point, or 0.4%, for the day.
- Epic Games, the maker of video-game name "Fortnite," is suing Apple (AAPL) and Alphabet (GOOGL) for allegedly exploiting a monopoly on app and in-app purchases. (MarketWatch)
- Clothing subscription startup Rent the Runway is permanently closing all stores to shift its focus to digital investments and adding drop-boxes for customers. (CNBC)
- AutoZone is adding more than 20,000 jobs in the U.S. as retail demand grows.
- This Chinese stock is being investigated by the SEC.
- Listen to Schaeffer's Market Mashup for the latest on TikTok and stock splits.
Data courtesy of Trade-Alert
Gold Registers First Weekly Loss in Months
Oil futures finished the week with a 1.9% win, thanks to a decline in U.S. crude supplies. Nonetheless, prices still settled lower on Friday as dismal global demand forecasts rolled in. September-dated crude was down 23 cents, or 0.5%, to end at $42.01 a barrel.
Meanwhile, gold prices registered their first weekly loss since early June, ending the day lower after two consecutive wins. Gold for December, which is the most-active contract, dropped $20.60, or 1.1%, to settle at $1,949.80 an ounce. It finished the week with a 3.9% loss.