Stocks Pare Gains, Finish Choppy Week Lower

The blue-chip index logged a third-straight loss

Managing Editor
Jul 7, 2023 at 4:24 PM
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Wall Street closed out a choppy week on an uneven note, as investors fight Fed fatigue with the latest jobs numbers. The Dow was up triple digits at its session highs, but ultimately pared those gains to finish lower for a third straight session. The S&P 500 and Nasdaq followed suit, paring modest gains to stumble into the weekend in the red. All three major indexes finished with weekly losses. Despite today's back-and-forth trading, the Cboe Volatility Index (VIX) finished back below 15. 

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

  • This table shows how hot Big Tech stocks have been.
  • Another analyst ditches Paramount Global stock.
  • Plus, a down day for COST; Levi Strauss' earnings; and how to play AMZN. 

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5 Things to Know Today

  1. U.S. Treasury Secretary Janet Yellen is in China with a tough task. (MarketWatch)
  2. The fight for the middle class in 2024 is already underway. (Bloomberg)
  3. See what made Costco stock cool off.
  4. Options traders unfazed by Levi Strauss' subpar earnings.
  5. Amazon.com stock is red-hot -- is there more to come?

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Wins All Around for Oil, Gold

Oil prices finished higher for the session and week, thanks to a weekly decline in crude inventories. August-dated oil rose $2.06, or 2.9%, to settle at $73.86 per barrel. For the week, black gold rolled out its best performance since April, tacking on 4.6%. 

Gold rose as well, taking its cues once more from Fed rate hike speculation and jobs data. August-dated gold shed $17.10, or 0.9%, to close at $1,932.50 an ounce. For the week, the safe-haven asset added 0.2%.

 

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