The Dow and S&P 500 scored weekly wins
Looking to cap an already fantastic week off on a high note, the Dow and S&P 500 each scored their fourth-straight record close. The blue-chip index snagged a new intraday high, but pared some of those gains, finishing around 15 points higher, despite a blowout earnings report from crucial component Walt Disney (DIS). The S&P 500 also finished just above breakeven, while the tech-heavy Nasdaq closed the day just barely in the black, and turned in the only negative weekly performance out of the three major benchmarks. Elsewhere, the Cboe Volatility Index (VIX), Wall Street's "fear gauge," locked in its third-straight daily loss to close out the week lower.
Continue reading for more on today's market, including:
- Our latest Schaeffer's Market Mashup covers the typical mistakes options traders make.
- Breaking down and understanding options Greeks.
- Plus, how analysts' feel towards big name pizza stock; Airbnb's pandemic-induced breather; and why DoorDash stock pulled back.
The Dow Jones Average (DJI - 35,515.38) rose 15.5 points, or 0.04% for the day, and 0.9% for the week. Salesforce.com (CRM) topped the list of 30 Dow winners, rising 1.3%, while Boeing (BA) fell 1.6% to pace the laggards.
The S&P 500 Index (SPX - 4,468.09) added 7.3 points, or 0.2% for the day. Meanwhile, the Nasdaq Composite (IXIC - 14,822.89) rose 6.6 points, or 0.04%, for the day. The indexes added 0.7% and lost 0.09%, respectively, this week.
Lastly, the Cboe Volatility Index (VIX - 15.45) lost 0.1 point, or 0.9%, for the day, and 4.3% this week.
- A key Center for Disease Control and Prevention (CDC) panel recommended Covid-19 boosters to immunocompromised Americans. (CNBC)
- As the Delta variant continues to spread, face mask fights escalate in Texas and Florida. (MarketWatch)
- Bull notes could send this pizza name even higher.
- Airbnb Stock dips on Covid-19 threat.
- A mixed earnings report sunk food delivery powerhouse.
Oil, Gold Carve Out Weekly Gains
Oil prices dipped again to close out the week, as governments around the globe move to revive lockdown measures amid an increase in global Covid-19 cases. In response, the International Energy Agency (IEA) issued a warning, saying that black gold demand has come to a crawl. September-dated crude lost 65 cents, or 0.9%, to settle at $68.44 a barrel for the day, but rose 0.2% on the week.
Gold prices, on the other hand, rose on the heels of a retreating U.S. dollar. Further buoying bullion today was increased physical demand from large consumers, particularly India and China. As a result, December-dated gold added $26.40, or 1.5%, to settle at $1,778.20 an ounce today, and 0.9% this week.