SPX Closes at Record High; Wall Street in Bull Market

Wall Street is officially in the black for the year

Deputy Editor
Jan 19, 2024 at 4:27 PM
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Wall Street rallied in a big way Friday after investors cycled back into tech stocks despite a higher Treasury yield. The S&P 500 closed at an all-time high, while the Dow added nearly 400 points, and the Nasdaq also gained triple digits. With all three benchmarks turning in their second consecutive weekly win, Wall Street is positive for the year and back in bull market territory that started in October 2022.

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

  • How America's election season impacts stocks.
  • The Treasury market rocked stocks this week.
  • Plus, TXN's upgrade; Wayfair's layoffs; and the healthcare sector's struggles.

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5 Things to Know Today

    1. December home sales fell 6.2% month over month to finish out their worst year since 1995. (CNBC)
    2. BlackRock's (BLK) spot bitcoin exchange-traded fun (ETF) is the first to clinch $1 billion in assets. (Reuters)
    3. Behind Texas Instruments stock's bull note.
    4. Wayfair announced a major round of job cuts.
    5. Why the healthcare sector took a big hit.

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    Oil Enjoys Weekly Win Despite Uncertain Demand

    Oil prices were slightly lower Friday as investors tried to balance higher supplies, an uncertain demand outlook, and ongoing tensions in the Middle East. The now front-month March-dated West Texas Intermediate Crude (WTI) contract lost 70 cents, or 1%, to finish at $73.25 a barrel on the day, but gained 1% for the week.

    Gold prices were higher Friday, but still logged a fractional weekly loss as traders continued to weigh comments from the U.S. Federal Reserve. At last look, February-dated gold was up $7.70, or 0.4%, to settle at at $2,029.30 for the session, but fell 0.04% for the week.

     

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