Dow Logs Best Weekly Performance Since March

Oil logged its longest weekly win streak since April

Managing Editor
Jul 14, 2023 at 4:24 PM
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Stocks ended the day mixed, with the blue-chip index the only winner, logging a fifth-straight gain. All three benchmarks logged impressive weekly wins, with the Dow snagging its best week since March. A strong start to the second-quarter earnings season was an upbeat omen for stocks, with inflation data boosting sentiment as well. The Cboe Volatility Index (VIX), or the market's "fear gauge," backpedaled more than 10% for the week. 

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

  • The hero behind Wall Street's near-perfect week.
  • Software stock slated for impressive gains.
  • Plus, tech powerhouse surges; bank sector blowout; and latest Disney c-suite news.

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5 Things to Know Today

  1. Around 8,000 student loan borrowers will be getting relief, after the Biden administration axed $39 billion in debt. (CNBC)
  2. Import prices have fallen for another month, down 0.2% in June. (MarketWatch)
  3. Tech mogul neared fresh highs after bull note.
  4. Behind the bank sector earnings blowout.
  5. Why call traders jumped on Walt Disney stock.

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Gold Logs Best Week Since April

Oil prices inched lower for Friday's session, but managed to log its longest weekly win streak since April. August-dated oil shed $1.47, or 1.9%, settle at $75.42 per barrel for the day, and added 2.1% for the week.

Inflation buzz sent gold futures to its best weekly performance since April 6. August-dated gold added 60 cents or just under 0.1%, to close at $1,964.40 an ounce on the day and 1.7% for the week.

 

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