Wall Street Nabs 6th-Straight Weekly Win

Upbeat consumer sentiment data gave the market a boost

Deputy Editor
Dec 8, 2023 at 4:24 PM
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Stocks rose on Friday, with all three major indexes securing their sixth-straight weekly wins. Coming into today, it looked like the Nasdaq Composite (IXIC) was the only benchmark that would mark a weekly gain, but the S&P 500 (SPX) hit a fresh 2023 high in today's trading, while the Dow Jones Industrial Average (DJIA) closed the day with a triple-digit lead. Consumer sentiment data lifted investor spirits today, although Treasury yields are still surging after this morning's nonfarm payrolls report. 

  • The best and worst stocks to own in December, historically. 
  • Outperforming biotech stock upgraded ahead of anticipated FDA nod. 
  • Plus, LULU's strong revenue; Spotify's busy week; and options trading advantages. 
 

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5 Things to Know Today

    1. The Biden administration is giving U.S. cities 10 years to replace their lead pipes -- a billion-dollar endeavor -- though some cities such as Chicago could get longer. (MarketWatch)
    2. According to the Federal appeals court, New York can ban guns at a number of "sensitive locations," including public parks and sports venues. (MarketWatch)
    3. Popular athleisure stock starting the holiday season off strong. 
    4. Unpacking Spotify's restructuring plans
    5. The many advantages of options trading vs. stock trading. 

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    Oil Marks Longest Weekly Losing Streak Since 2018

    Oil snapped a six-day losing streak today, though still logged a seventh-straight weekly decline -- its longest losing streak since 2018. West Texas Intermediate (WTI) crude for January delivery added $1.89, or 2.7%, to settle at $71.23 a barrel for the day, and finished the week 3.8% lower. 

    Gold prices fell today, as the U.S. dollar strengthened in the wake of the strong jobs data. December-dated gold futures fell $31.90, or 1.6%, to settle at $2,014.50 an ounce. For the week, prices fell 3.6%, despite the safe-haven asset notching record highs early in the week -- their first weekly loss since Nov. 10. 

     

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