S&P 500 Logs Worst Week Since March as Stocks Stumble

The Dow and Nasdaq boasted solid gains earlier in the session

Managing Editor
Sep 22, 2023 at 4:32 PM
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In a trend that's become all too familiar, stocks gave back their gains today and turned in another losing week. The Dow was up nearly triple digits at its session highs but finished with a 105-point loss, while the Nasdaq pared stronger gains to ultimately finish lower as well. All three major indexes finished with steep weekly losses and their fourth-straight daily drop, with the S&P 500 logging its worst week since March 10.  

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

  • Q&A: Are 0DTE options worth it?
  • How McDonald's stock stopped its slide. 
  • Plus, a rough week for Deere; Micron's latest bull note; and Wayfair stock upgraded.

Summary 0922

NYSE Nasdaq 0922

5 Things to Know Today

  1. Here's the latest on the United Auto Workers strike. (Reuters)
  2. The U.S. is all in on reforming the World Trade Organization (WTO). (Bloomberg)
  3. Downgrade cycle continues for Deere stock
  4. Smooth sailing for Micron Technology stock.
  5. Upgrade couldn't lift Wayfair stock today.

There are no earnings of note to report.

UVOL 0922

Oil Notches Yet Another Weekly Win

Oil rose today, but similar to the broader market, pared stronger gains in the afternoon. Crude for November delivery rose 40 cents, or 0.5%, to settle at $90.03 per barrel. For the week, black gold notched its 11th win in 13 weeks.

Gold prices rallied for the day to help ease some of yesterday's steep drop, but still saw a small weekly loss. December-dated gold dropped $6, or 0.3% to close at $1,946.20 an ounce on the day.

 

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