Dow Resumes Rally to Close Out Another Winning Week

The Dow and S&P 500 nabbed a third-straight weekly win

Digital Content Manager
Jul 28, 2023 at 4:30 PM
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The Dow bounced back from snapping its win streak on Friday, adding 176 points as it registered its 14th gain in 15 sessions. The blue-chip benchmark also marked its third-straight weekly win alongside the S&P 500, which settled higher as well. The Nasdaq notched a triple-digit gain and weekly win of its own, thanks to earnings and a softer-than-expected personal consumption expenditures price (PCE) index for June.

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

  • 25 stocks that historically outperform in August.
  • Looking back on this week's top earnings reports.
  • Plus, bull notes galore for chipmaker; put debit spreads how-to; and unpacking Enphase Energy stock's slide.

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5 Things to Know Today

  1. The Food and Drug Administration (FDA) approved the sale of a second opioid overdose reversal drug that does not require a prescription. (CNBC)
  2. Higher prices helped Procter & Gamble (PG) report a fiscal fourth-quarter profit win. (MarketWatch)
  3. Blue-chip stock draws bull notes on surprise profit.
  4. How to buy put debit spreads on Charles Schwab.
  5. Enphase Energy stock sank on mixed Q2 results.

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Oil Scores 5th-Straight Weekly Win

Oil prices settled higher on Friday as fears of the global economy slowing down eased, which helped the commodity score a fifth-straight weekly gain. September-dated gold rose 49 cents to settle at $80.58 per barrel. For the week, oil prices added 4.6%.

Gold moved higher as the U.S. dollar took a breather on cooler-than-expected inflation data. August-dated gold rose $14.70, or 0.7%, to settle at $1,999.90 an ounce, but lost 0.3% this week.

 

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