Major Indexes Close Muted After Lackluster Week

Gold logged its first daily gain in nine sessions

Managing Editor
Aug 18, 2023 at 4:27 PM
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After wavering on both sides of the aisle today, the Dow closed with a slim 25-point gain this afternoon. It was a losing week for all three indexes, with the S&P 500 and Nasdaq logging a third-straight weekly drop, as several bouts of domestic and international economic data markers drove investor sentiment lower. A few last-minute earnings trickled in as well, but the blue-chip index still clocked its worst week since March.

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

  • 2 stocks dragged on sector headwinds.
  • August slump slams broader market.
  • Plus, chip sector crossroads; motorcycle giant bags big win; and cyber stock has options traders buzzing.

Closing Indexes Summary Aug 18

NYSE and Nasdaq Stats Aug 18

5 Things to Know Today

  1. Walt Disney (DIS) is seeking damages for a breach of development contracts that are crucial in its lawsuit against Florida Governor Ron DeSantis. (CNBC)
  2. SoftBank Group could hold a 90% stake in Arm Ltd., after buying the 25% it did not already own after its roughly $64 billion acquisition of the latter's Vision Fund unit.  (Reuters)
  3. Semiconductors approach critical crossroads.
  4. Unpacking how HOG bears cashed in a major win.
  5. Cybersecurity stock popular in the options pits.

Corporate Earnings Aug 18

Unusual Options Activity Aug 18

Oil Snaps Weekly Win Streak

Crude prices snapped a seven-week win streak today, settling 2.3% lower for the time period. However, for the day, a lift in bond yields and the greenback managed to send September-dated oil up 86 cents, or 1.1%, to settle at $81.25 per barrel.

On the flip side, gold sliced its nine days of losses with an overdue gain, as the aforementioned Treasury yields continue to climb. December-dated gold added $1.30, or roughly 0.1%, to settle at $1,916.50 an ounce for the session, but fell 1.6% for the week.

 

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