Blue Chips, S&P 500 Reach Key Milestones

Small caps, meanwhile, logged their best week since the pandemic

Jake Scott

Deputy Editor

Nov 8, 2024 at 4:25 PM

RUT
VIX
SPX
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DJIA

Stocks finished a volatile and monumentally-important week with a flourish today. Thanks to outsized gains today, the Dow and S&P 500 notched their best weekly performances since November 2023. The former crossed above 44,000 for the first time ever, and the latter notched a third-straight record close while briefly surpassing 6,000 for the first time ever.

The tech-heavy Nasdaq logged a record close of its own and turned in its best weekly performance since September 13. Not to be outdone, the small-cap Russell 2000 Index (RUT) had its best weekly gain since April 2020, adding 8.4%. Against this backdrop, Wall Street's "fear gauge," the Cboe Volatility Index (VIX) clocked its lowest close since Aug. 19.

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

Ge Aerospace stock has room to run.
Your guide to options ETFs after Election Day.
Plus, cloud stock cools; unpacking Airbnb earnings; and the fintech sector in focus.

Closing Indexes Summary Nov 8

NYSE and Nasdaq Stats Nov 8

5 Things to Know Today

At the request of special counsel Jack Smith, a judge paused proceedings in the criminal case against President-elect Donald Trump. (CNBC)
Consumer credit climbed in September, albeit slowly. (MarketWatch)
Cloud stock suffers post-earnings pullback
Mixed quarterly results weighed on Airbnb stock.
These fintech stocks moved in opposite directions.

Unusual Options Activity Nov 8

Gold Poised for Steep Weekly Loss; Oil Brushes off China Stimulus

Oil futures edged lower Friday, as President-elect Trump's call for more U.S. production overshadowed China's new stimulus measures and their impact on energy demand expectation. For the session, December-dated West Texas Intermediate (WTI) crude shed $1.98 cents, or 2.7%, to settle at $70.38 a barrel, but the front-month contract rose 1.3% this week.

Gold prices also tumbled today, heading for their biggest weekly fall in more than five months amid a strong dollar. Traders also weighed the implications for bullion following Trump's victory and the future of interest rate moves. Gold futures settled 0.3% lower at $2,697.90.

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