The Dow has logged back-to-back weekly wins
A rising tech sector lifted all stocks today. The S&P 500 and Nasdaq finished Friday with sizable gains to secure their first weekly wins this month and best since Nov. 3, with the latter also seeing its best single-session percentage pop since Feb. 22. The Dow has now logged back-to-back weekly wins, while Wall Street's "fear gauge," the Cboe Volatility Index (VIX), just turned in its worst weekly drop since Nov. 3.
Continue reading for more on today's market, including:
5 Things to Know Today
- Another Fed President is in no rush to cut interest rates. (MarketWatch)
- U.S. President Joe Biden is ready to debate former President Trump. (Reuters)
- Earnings season is the perfect time for protective puts.
- Intel stock capped the Dow's gains today.
- Snap stock is officially up off the mat.
Oil, Gold Log Very Different Weeks
Oil prices were subdued by the latest inflation data that cast doubt on interest rate cuts in June. June-dated West Texas Intermediate (WTI) crude added 28 cents, or 0.3%, to settle at $83.85 a barrel. For the week, black gold rose 2%.
Gold prices were steadily higher today, but fell for the week. June-dated gold futures rose 0.4% to settle at $2,351.90 per ounce.