Dow, S&P 500 See Best Week of 2024; VIX Marks Worst

Stocks took a step back, however

Digital Content Manager
Mar 22, 2024 at 4:26 PM
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Despite taking a major step back from yesterday's record closes and snapping four-day win streaks, the Dow and S&P 500 still had their best week of 2024. The Nasdaq scored a modest fifth-straight daily gain, however, and saw its best week since January thanks to a strong tech sector. Conversely, Wall Street's fear gauge -- the Cboe Volatility Index (VIX) -- had its worst week since November.

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

  • Government hits Apple with antitrust lawsuit.
  • Allstate stock boasting several support layers.
  • Plus, 6 chip stocks to watch; LULU's dismal revenue outlook; and why NKE tumbled.

Closing Indexes Summary March 22

NYSE and Nasdaq Stats March 22

5 Things to Know Today

  1. FedEx (FDX) stock surged after the delivery company revealed a quarterly profit beat, $5 billion share buyback program, and cost-cutting measures. (MarketWatch)
  2. Airbus CFO Thomas Toepfer said he is "not happy" about the issues Boeing (BA) is facing, noting Airbus is now "obsessed" with preventing similar problems. (CNBC
  3. Don't miss this week's biggest semiconductor headlines.
  4. Nike stock gaps lower amid growth struggles in China.
  5. Disappointing revenue forecast dings Lululemon stock.

Corporate Earnings March 22

Unusual Options Activity March 22

Oil Lower on Efforts to Ease Global Tensions

Oil prices moved lower on Friday, amid cease-fire talk efforts in Gaza, and U.S. calls for Ukraine to stop attacking Russia’s refineries.May-dated West Texas Intermediate (WTI) shed 44 cents, or 0.5%, to settle at $80.63 per barrel on the day, and dropped 1.9% this week.

Gold prices also fell, cooling from yesterday's record highs thanks to a stronger U.S. dollar. April-dated gold shed $24.70, or 1.1%, to settle at $2,160.00 per ounce on the day. For the week, the yellow metal shed 0.2%.

 

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