The Dow and S&P 500 logged their best weeks since November
Following a week of softer-than-expected inflation data and a slew of bank earnings that knocked the 10-year Treasury yield from its recent highs, all three major indexes logged healthy session wins -- both the Dow and Nasdaq seeing triple-digit pops. The blue chip index and S&P 500 enjoyed their best weekly performances since November, and the Nasdaq marked its best weekly jump since early December. Looking ahead, investors are preparing for another holiday-shortened week and the inauguration of President-elect Donald Trump.
Continue reading for more on today's market, including:
- More on inflation's big market push.
- Facility fire pressures Vistra stock.
- Plus, cloud stocks climb on bull notes; Q4 results fell FAST; and a strategy for earnings season.
5 Things to Know Today
- Despite public pressure, the Supreme Court maintained its TikTok ban ruling, with the platform expected to go dark in the U.S. unless the President-elect interferes. (Bloomberg)
- The Securities and Exchange Commission (SEC) will fine retirement and asset manager Vanguard $100 million for charges regarding target date retirement funds. (CNBC)
- Two cloud names surging on bull notes.
- Fastenal stock felled on fourth-quarter results.
- Here's a good trading strategy for earnings season.
Oil, Gold Log Comfortable Weekly Gains
Oil prices settled lower on Friday amid energy policy uncertainty. February-dated West Texas Intermediate (WTI) crude fell 80 cents, or 1%, to settle at $77.88 per barrel. Black gold rose for a fourth consecutive week, however, charging 1.7% higher thanks to supply concerns.
Despite a recovering U.S. greenback sending the commodity lower for the session, gold still managed to grip to a weekly win. For the day, gold for the now most-active February delivery slid 0.1% to settle at $2,747.40 an ounce. On the week, gold futures rose 2.6%.