The Nasdaq is on its longest weekly win streak since December
The S&P 500 and Dow both snapped their six-week win streaks, succumbing to this week's pressure from rising Treasury yields, though the bond market has since cooled off. The blue-chip index closed 259 points lower, reversing its early-morning pop for its fifth-straight daily loss. The tech-heavy Nasdaq hit record highs today, however, notching a triple-digit gain and seventh consecutive weekly win -- its longest streak since December.
Continue reading for more on today's market, including:
- 5-minute rundown on this week's volatile movers.
- Aviation stock sinks on public offering buzz.
- Plus, ETF outperforming the SPY; homebuilding stock could climb; and footwear giant sees fresh surge.
5 Things to Know Today
- Cathie Wood cut back even further on Tesla (TSLA), her flagship Ark Innovative ETF (ARKK) making another sale of its stake after the electric vehicle's (EV) latest post-earnings surge. (MarketWatch)
- The race against Tesla's robotaxi continues, with Alphabet's (GOOGL) latest funding update for it's own driverless vehicle. (CNBC)
- An outperforming ETF to watch now.
- Which homebuilding stock could keep climbing.
- Hoka sales boost footwear giant.
Gold and Oil Post Daily, Weekly Wins
Crude has continued higher due to Middle East tensions, boosting black gold for the day and week. November-dated West Texas Intermediate (WTI) crude fell $1.59, or 2.3%, to settle at $71.78 per barrel for the session, and 4.5% higher on the week.
Gold finished with gains today, a boost coming from upcoming election buzz. Gold for December delivery tacked on 0.7% to trade at $2,754.60 at last check. For the week, gold has tacked on around 0.6%.