Stocks Eke Out Weekly Wins After Impressive Jobs Data

Oil and gold suffered weekly losses

Managing Editor
Jul 8, 2022 at 4:32 PM
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Buzz off the upbeat June jobs report ended up being short-lived, as the major indexes struggled to find their footing in the second half of Friday's session. The Dow and S&P 500 reversed earlier gains to log a modest loss, with the latter snapping its longest win streak since March. The Nasdaq managed to hold onto a small gain to register a fifth consecutive daily win, though, with the three benchmarks seeing solid weekly wins.

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

  • 4 weed stocks in focus this week.
  • Why investors should watch GoPro stock.
  • Plus, Sundial's latest valuation; Twitter's buyout uncertainty; and the suffering household staple.

The Dow Jones Average (DJI -  31,338.15) shed 46.4 points, or 0.2% for the day. UnitedHealth Group (UNH) led the gainers, adding 0.8%. Walgreens Boots Alliance (WBA) paced the laggards with a 1.7% fall. Over the past week, the DJI added 0.8%.

The S&P 500 Index (SPX - 3,899.38) lost 3.2 points, or 0.08% for the day. Meanwhile, the Nasdaq Composite (IXIC - 11,635.31) rose 14 points, or 0.1% for the session. Respectively, the indexes added 1.9% and 4.5% for the week.

Lastly, the Cboe Market Volatility Index (VIX - 26.64) shed 1.4 point, or 5.5% for the day. For the week, the VIX shed 7.7%.

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5 Things to Know Today

  1. A country-wide network outage led to emergency phone line and banking system issues in Canada, after Rogers Communications saw its second outage in less than two years. (CNBC)
  2. Former Japanese Prime Minister Shinzo Abe was killed with a reportedly homemade firearm while giving a speech outside a train station east of Osaka. (Bloomberg)
  3. Behind Sundial Growers stock's extreme valuation.
  4. Buyout uncertainty brings Twitter stock a bear note.
  5. Household name suffering a post-earnings plunge.

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Gold Prices Extend Weekly Losing Streak

Oil futures ended higher once again, brushing off recession worries thanks to tight global supplies. August-dated crude added $2.06, or 2%, to settle at $104.79 per barrel for the day, but dropped 3.4% on the week.

Gold registered its fourth-straight weekly loss, shedding 3.3%. For the day, however, the August-dated commodity added $2.60, or 0.2%, to close at $1,742.30 an ounce, despite a stronger U.S. dollar.

 

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