Fresh jobs data gave market sentiment a boost
An upbeat jobs report that eased recession fears sent all three indexes higher to close out the week. The lift led the S&P 500 and Dow to a ninth consecutive win, while the Nasdaq added triple digits. This marks the longest daily win streak for the S&P 500 in over 20 years, and for the blue-chip Dow since 2023.
Unemployment data remained on par with estimates at 4.2%. For the week, all three benchmarks logged a second-straight win. The market's "fear gauge," or Cboe Volatility Index (VIX), suffered its fourth-straight weekly drop, its longest such streak in exactly 12 months.
Continue reading for more on today's market, including:
- Forecast falter overshadows Amazon earnings beat.
- Everything that happened this week on Wall Street.
- Plus, more earnings tariff turmoil; streaming name slides after earnings; and how to get the best options broker.
5 Things to Know Today
- The largest American shoe brand manufacturers are asking to be made the exception to Trump's tariff policies. (CNBC)
- Trump is retaliating against Harvard's recent pushback, today threatening in a tweet that he would eliminate the university's tax exempt status. (Bloomberg)
- Tariff turmoil takes its toll on Apple stock.
- Revenue outlook tanks streaming giant.
- Find the best broker for your options trading endeavors.
Oil Posts Worst Week Since March
As anticipation grows for an output decision from the Organization of the Petroleum Exporting Countries & allies (OPEC+), oil sank to a weekly loss of more than 1% -- its lowest since March. June-dated West Texas Intermediate (WTI) oil fell 95 cents, or 1.6%, to settle at $58.29 per barrel.
Gold managed to ease off Thursday's pullback to close modestly higher, as upbeat jobs data took center stage. June-dated gold added 1.3% to settle near $3,262.10 an ounce for the day, but shed 2.1% for the week.