Stocks Snap 9-Week Win Streak to Start 2024

The VIX nabbed its best weekly gain since October

Deputy Editor
Jan 5, 2024 at 4:27 PM
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Wall Street clawed into the black in the final minutes of Friday's trading, but still snapped its nine-week win streak to start the new year. Today's struggling market came in the wake of a red-hot jobs reading that sent bond yields higher, sending the 10-year note to briefly touch 4.1%. The VIX closed lower, but still logged its best weekly gain since October. 

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

  • Food delivery stock a top pick for bulls this year.
  • How traders can use 2023 as a guide for the year ahead.
  • Plus, STZ's post-earnings bounce; COST's bull note barrage; and PLTR's downgrade

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5 Things to Know Today

    1. Apple (AAPL) is staring at its biggest antitrust risk in years, as the U.S. Justice Department prepares to move in on the iPhone maker. (CNBC)
    2. The White House is withholding payments to three student-load servicers after finding that timely billing statements were not sent to 758,000 borrowers. (MarketWatch)
    3. Unpacking Constellation Brands' earnings report.
    4. Behind this big box retailer's bull notes.
    5. AI favorite is overhyped, says analyst. 

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    Oil Continues Climb for Day, Week

    Oil futures continue to benefit from tensions in the Middle East, as investors stress potential disruptions, should the Israel-Gaza conflict spread further. Today, West Texas Intermediate (WTI) crude for February delivery added $1.62, or 2.2%, to finish at $73.81 a barrel, and gained 4.9% for the week.

    Gold futures were slightly lower Friday, after a stronger-than-expected U.S. nonfarms payrolls report put pressure on the precious metal. For the session, February-dated gold futures fell 20 cents to settle at $2,049.80 per ounce, and dropped 1.1% for the week.

     

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