Resilient growth stocks restored investor optimism, but the Dow still finished lower
Stocks finished out Friday with some fireworks, as investors weigh a choppy tech sector with rate-cut anxieties. The Dow lost over 300 points, though the blue-chip index closed well off its session lows to finish the week marginally higher. The S&P 500 managed to pick up its fourth weekly win in the last five after paring significant losses as well.
The biggest story was the Nasdaq, however, which snapped a three-day losing streak with its largest single-day reversal since April, per Dow Jones Data. Despite growth stocks rallying to end a rough week, the tech-heavy benchmark still logged a weekly loss.
Continue reading for more on today's market, including:
- Robinhood stock bouncing off key trendline.
- This construction stock has an intriguing chart.
- Plus, WMT moves lower; a tech stock in focus; and a new place to read Schaeffer's.
Weekly Wins for Oil, Gold
A Ukrainian drone strike on a Russia port sent black gold higher today, sparking supply disruptions concerns. December-dated West Texas Intermediate (WTI) crude added $1.40, or 2.4%, to settle at $60.04 per barrel. For the week, black gold added 0.2%.
Gold prices stumbled into the weekend as hawkish comments from Fed officials dulled the hope of a rate cut in December. December-dated gold futures gave back 2.2% to settle at $4,100.40 per ounce. For the week, the safe-haven asset tacked on 3.7%.