The Dow ended its second-quarter slump with a triple-digit win
The Dow recovered some of yesterday's staggering 530-point drop today, snapping a four-day losing streak and finally ending its second-quarter slump. The blue-chip index finished the day up 307 points, though it's still notching its worst week since March 2023, while the S&P 500 and Nasdaq suffered weekly losses as well.
Investors inspected better-than-expected jobs data today, though it brought mixed sentiment regarding its potential reverberations into Fed rate decisions. Meanwhile, consumer credit rose 3.4% in February, down from January's 4.2% rate.
Continue reading for more on today's market, including:
5 Things to Know Today
- Due to stiff competition from China-based electric vehicle (EV) makers, Tesla (TSLA) is getting rid of its low-cost car plan. (Reuters)
- McDonald's (MCD) will buy all 225 franchises in Israel from local company Alonyal Ltd. due to boycotts. (CNBC)
- Rosenblatt Securities sees tailwinds blowing for 2 tech stocks.
- Analyzing the risks and rewards of options trading.
- Cinemark stock hit with double upgrade.
There were no earnings of note today.
Oil Rose Nearly 5% This Week
Oil prices rose for the sixth consecutive session amid tensions in the Middle East. May-dated West Texas Intermediate (WTI) added 32 cents, or 0.4%, to $86.91 a barrel for the day, and 4.5% for the week.
Gold prices hit even more record highs today, with June-dated U.S. gold futures rising $36.90 or 1.6%, to $2,345.40 per ounce on Friday and 3.9% on the week.