Tech Stands Tall as S&P 500, Nasdaq Nab Weekly Wins

The Cboe Volatility Index logged its third-straight weekly loss

Patrick Martin

Managing Editor

Dec 6, 2024 at 4:26 PM

The first full week of December ended with a lot of the same themes. Tech stayed hot, powering the Nasdaq to a 3% weekly win and fourth record close of the week. The Dow pared modest gains to finish lower for the session and week. The S&P 500 hit an intraday record high and snagged a weekly win, but finished only marginally higher on the day. November jobs data was solid enough to avoid panic, but still left the door open for the Fed later this month. Elsewhere, the Cboe Volatility Index (VIX) logged its third-straight weekly loss.

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

A lot to like about this aluminum stock.
Smith & Wesson stock is nearing single digits.
Plus, Samsara stock slumps; Ulta stock shines; and an earnings report to watch.

closing summary dec6

nyse nasdaq Dec 6

5 Things to Know Today

The TikTok ban in the U.S. was just upheld by an appeals court. (MarketWatch)
U.S. consumer borrowing rose in October to two-year highs. (Bloomberg)
Options bears blast Samsara stock after guidance whiff.
Ulta Beauty stock could burn shorts post-earnings.
Oracle earnings sure to make headlines next week.

Commodities Log Weekly Losses

Oil prices fell again today, black gold still reeling from the Organization of the Petroleum Exporting Countries and its allies (OPEC+) decision to postpone production cuts. For the session, January-dated West Texas Intermediate (WTI) crude shed $1.10, or 1.6%, to settle at $67.20 per barrel. For the week, oil shed 1.2%.

Gold prices gained, cautiously, on the heels of November's solid yet unspectacular jobs data. For the session, gold for December delivery shed 0.3% to settle at $2,656.70 an ounce. The safe-haven asset fell for the week.

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