All three major indexes logged their fifth-straight weekly win
Wall Street picked up right where it left off in November today, with the Dow, S&P 500, and Nasdaq all kicking off December with solid wins. The blue-chip scored its fourth win in a row and closed at its highest level since January 2022, while the S&P 500 closed at 2023 highs. Thanks to renewed optimism that interest rate cuts are forthcoming in 2024, all three major indexes also clocked their fifth-straight weekly win.
- Retail stocks are head into a huge month.
- 2 shipping stocks to avoid in December.
- Plus, Pfizer's rough day; a gold stock to target; and the big winners of the week.
5 Things to Know Today
- Fossil fuels are a once more a contentious issue at COP28. (Reuters)
- Enigmatic cryptocurrency Bitcoin (BTC) is quietly having a renaissance. (CNBC)
- Why this Dow stock sat out the broad market rally.
- Gold stock cruising into historically bullish month.
- What stocks were the focus during this breakout week?
Gold Gains on Powell Comments
Oil prices trekked lower, with a news gap in the wake of the Organization of the Petroleum Exporting Countries and its Allies (OPEC+) meeting. Today, January West Texas Intermediate (WTI) crude gave back $1.89, or 2.5%, to settle at $74.07 a barrel. For the week, black gold shed 2%.
Gold prices bounced back today, rising for the third-straight week. February gold futures added $32.50, or 1.6%, to settle at $2,089.70 an ounce. The safe-haven asset rose 3% for the week.