Stocks Snap 4-Day Losing Streak; Nasdaq Posts Weekly Win

Investors unpacked upbeat earnings results from Apple

Digital Content Manager
May 5, 2023 at 4:27 PM
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Stocks rallied on Friday, with the Dow adding 546 points on the heels of a red-hot U.S. jobs report and upbeat results from Apple (AAPL). Regional banks stocks also surged after J.P. Morgan Securities turned bullish on several names, pushing both the S&P 500 and Nasdaq higher as well. All three major indexes snapped four-day losing streaks, but the Nasdaq was the only one to notch a weekly win, though the blue-chip benchmark swung back into positive territory for the year.

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

Closing Index Summary May 52023

NYSE and Nasdaq Stats May 52023

 Things to Know Today 

  1. Wholesale used vehicle prices fell last month for the first time in 2023, but remain elevated as automakers ramp up production of new cars and trucks. (CNBC)
  2. The World Health Organization (WHO) ended the global emergency status for Covid-19 but noted the disease is not over as a global health threat. (Reuters)
  3. Cinco de Mayo could bode well for these 2 stocks.
  4. Options bulls blasted DraftKings stock after earnings.
  5. Fed fatigue after another rate hike dominated Wall Street.

Earnings May 52023

Unusual Options Activity May 52023

Gold Ekes Out Weekly Win

Oil prices settled higher on Friday, snapping a four-day losing streak after a strong jobs report for April. Black gold still shed a whopping 7.1% this week due to recession fears, making its third-straight in the red. June-dated crude added $2.78, or roughly 4.1%, to close at $71.34 per barrel on the day.

Gold prices moved in the opposite direction, settling lower after the aforementioned jobs report raised questions about the future of interest rate hikes. June-dated gold dropped $30.90, or 1.5%, to close at $2,024.80 an ounce on the day, but added 1.3% this week.



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