Stocks Score Daily, Weekly Wins as Bank Fears Subside

The Dow reversed triple-digit losses from earlier in the session

Fernanda Horner

Digital Content Manager

Mar 24, 2023 at 4:31 PM

DB
SPX
IXIC
DJIA

The Dow settled 132 points higher on Friday, impressively recovering from a triple-digit loss despite reignited bank sector fears following surging credit default swaps at Deutsche Bank (DB). The blue-chip index nabbed a weekly win alongside the S&P 500 and Nasdaq, both of which settled higher on the day as well. Elsewhere, the Cboe Volatility Index (VIX) had its worst week since March 18, 2022.

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

Embattled bank stock could still see tailwinds.
Why these 2 oil stocks pivoted lower today.
Plus, DB puts run red-hot; rejection weighs on pharma stock; and this week's biggest headlines.

Indexes March 242023

nysenasdaq March 242023

5 Things to Know Today

Inflation-stricken customers looking for deals are turning to reselling platforms such as ThredUp (TDUP), leading big apparel retailers to seek partnerships. (CNBC)
Former U.S. President and 2024 White House candidate Donald Trump suggested a New York Indictment could bring "potential death and destruction." (Wall Street Journal)
Options bears blasted Deutsche Bank stock after its slide.
Incyte stock sank after some bad news for its cancer drug.
Revisiting this week's highs and lows on Wall Street.

There were no earnings of note today.

Unusual Options Activity March 242023

Gold, Oil Prices Nab Weekly Wins

Oil prices finished lower on Friday, as investors once again worried about the health of banking systems in both the U.S. and Europe. May-dated crude, which is now the most active contract, shed 70 cents, or 1%, to close at $69.26 per barrel on the day, but was 3.5% higher for the week.

Gold prices settled lower as well, but still scored their fourth consecutive weekly gain despite failing to conquer the $2,000 level. April-dated gold fell $12.10, or 0.6%, to settle at $1,983.80 per ounce on the day. For the week, it gained 0.5%.

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