Dow Manages Weekly Win Ahead of the Holidays

The S&P 500 and Nasdaq both logged their third-straight weekly losses

Deputy Editor
Dec 23, 2022 at 4:28 PM
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Stocks finished with a flourish heading into the holidays. The Dow added 176 points today and scored a weekly win, while the both S&P 500 and Nasdaq logged their third-straight weekly losses after rising just above breakeven for the day. The Cboe Volatility Index (VIX) logged its fifth loss in the last six. This morning's inflation data was the highlight of the day, after November's PCE price index came in slightly higher than expected. 

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

  • Our Schaeffer's Market Mashup features the best podcast moments of the year. 
  • Avocado stock getting coal for Christmas .
  • Plus, Wall Street stories to watch; NTNX's buyout update; and three oil stocks in focus.

The Dow Jones Industrial Average (DJI - 33,203.93) added 0.9% for the week, while the S&P 500 Index (SPX - 3,844.82) shed 0.2%. Nasdaq Composite Index (IXIC - 10,497.86) posted a weekly loss of 1.9%.

The Cboe Volatility Index (VIX - 20.92) lost 7.8% for the week.  

Closing Indexes Summary Dec 23

NYSE and Nasdaq Stats Dec 23

5 Things to Know Today 

  1. The U.S. Senate approved a large year-end spending bill, which includes $858 billion in defense spending, among other things. (MarketWatch)
  2. Violet protests in Paris following an attack on a Kurdish cultural centre. (Reuters)
  3. What happened with the market this week?
  4. Put traders target Nutanix stock after halted deal. 
  5. Checking in with oil stocks as crude prices pop. 

There were no earnings of note today.

Unusual Options Activity Dec 23

Oil Stays Hot, Gold Reclaims $1,800

Oil prices climbed today, with all eyes on Russia's rumored drop in exports. West Texas Intermediate (WTI) crude for January delivery added $2.7 or 2.6%, to settle at $79.56 per barrel. For the week, black gold gained 6.9%.

Gold prices settled higher today, rising back above the $1,800 level to finish the week. February-dated gold gained $8.90, or 0.5%, to settle at $1,804.20 per ounce, rising 0.2% for the week.  

 

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