Stocks Rise, Still Finish Volatile Week Lower

The S&P 500 and Nasdaq finished in the red for a fourth-straight week

Laura McCandless

Deputy Editor

Aug 9, 2024 at 4:22 PM

Stocks finished the day higher, extending last session's impressive rally. It wasn't enough to recover from the global selloff earlier this week, however, with all three major indexes logging a weekly loss. For the S&P 500 and Nasdaq, it was their their fourth-straight week in the red. The VIX, meanwhile, finished the week lower despite its wild surge a few days ago.

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

Industrial stock with support in place.
Paramount Global stock rose after job cuts.
Plus, 2 stocks moving after earnings; and 3 chip stocks to watch.

Summary 0809

NYSE Nasda 0809

5 Things to Know Today

Merck announced plans to buy CN201, an experimental drug targeting B-cell diseases, from Curon Biopharmaceuticals for up to $1.3 billion. (MarketWatch)
Colin Huang, founder of Temu, just became China's richest person. (Bloomberg)
Unpacking Sweetgreen's mixed earnings report.
Video game stock bouncing off its recent lows.
Checking in with 3 chip stocks amid AI buzz.

Earnings 0809

UVOL 0809

Oil Breaks Weekly Losing Streak

Oil prices rose for the fourth consecutive day as recession fears eased. September-dated West Texas Intermediate (WTI) crude rose 65 cents, or 0.9%, to settle at $76.84 per barrel. For the week, U.S. crude rose 4.5%, snapping a four-week losing streak.

Gold fell sharply for the week following Monday's slide. For the day, December-dated gold futures held steady at $2,462.

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.