Dow Marks Best Weekly Win Streak Since 2019

Oil prices fell over 3% this week

Deputy Editor
Nov 5, 2021 at 4:31 PM
facebook twitter linkedin

The major indexes closed out the first week of November at record levels, with investor sentiment boosted by a better-than-expected October jobs report. Pfizer (PFE) gave an update regarding its Covid-19 pill, which further fueled hope for a smooth economic reopening. In response, the Dow added over 200 points, nabbing a record close and its seventh win in the last eight trading days. In addition, the S&P 500 locked in its seventh-straight win and the Nasdaq landed its 10th. All three indexes locked in a fourth-straight weekly win, the Dow's longest such streak since February 2019.

Continue reading for more on today's market, including:

  • Digging into why Airbnb stock popped today.
  • Analyst turned pessimistic on this social media stock.
  • Plus, TripAdvisor stock could surge soon; unpacking Canada Goose's earnings; and what boosted EXPE today.

The Dow Jones Average (DJI - 36,327.95) gained 203.7 points or 0.6% for the day, and 1.4% this week. Boeing (BA) paced the winners with a 5.4% win, while Merck (MRK) plunged 9.9% to round out the list of laggards.

The S&P 500 Index (SPX - 4,697.53) added 17.5 points, or 0.4% for the day, while the Nasdaq Composite (IXIC - 15,971.59) tacked on 31.3 points, or 0.2% for the day. The indexes added 2% and 3.1%, respectively, this week.

Lastly, the Cboe Volatility Index (VIX - 16.48) added 1 point, or 6.7% for the day, and 1.2% this week.

closing summary chart 1105

nyse nasdaq 1105

  1. Pfizer announced its antiviral pill reduces the risk or hospitalization or death in adults at risk of developing severe Covid-19 by 89%. (Reuters)
  2. The U.S. Virgin Islands served Barclays a subpoena for a deluge of documents related to Jeffrey Epstein, four days after its CEO quit amid an investigation into his relationship with the late criminal. (CNBC)
  3. Post-pandemic traveling could breathe life back into this stock.
  4. Canada Goose stock popped after a beat-and-raise.
  5. Pfizer's antibody pill update put some wind at EXPE's sails.

Earnings 1105

UVOL 1105

Oil Prices Rise As OPEC+ Rebuffs Output Pleas

Oil prices rose on Friday, after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) ignored U.S. pleas to raise supply. The organization will instead move forward with plans to gradually increase outputs. For the day, December-dated crude added $2.46 cents, or 3.1% to settle at $81.27 a barrel. Black gold shed 2.8% on the week.

Gold prices rose as well, following the release of better-than-expected monthly jobs data in U.S. As a result, December-dated gold rose $23.30 or, 1.3%, to settle at $1,816.80 on the day, it's highest close since September. Meanwhile, a particularly dovish tone from major central banks helped bullion secure a 1.8% rise for the week.


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners