The Dow recouped yesterday's dramatic pivot lower
Stocks gathered themselves today to finish a rough week on a high note. The Dow recouped yesterday's dramatic pivot and reclaimed 46,000 thanks to a 493-point pop, though it still finished 1.9% lower on the week. The S&P 500 and Nasdaq finished confidently higher on the day but both slid for the week as well.
Driving the Friday rally was some favorable rate-cut rhetoric from New York Fed President John Williams this morning. Nvidia (NVDA) is also up off the mat, amid reports the Trump administration is weighing a sale of the chipmaker’s H200 chips to China.
Continue reading for more on today's market, including:
- Retail stock breaks out after upbeat earnings.
- Our Substack is heating up. See the latest.
- Plus, TMUS upgraded; Bitcoin ETF struggles; and an energy stock for contrarians.
The unusual volume chart is unavailable due to technical difficulties out of Trade Alert today. We apologize for the inconvenience.
Weekly Losses Stain Commodities
Oil prices continued their trek lower, with all eyes on the reported U.S.-backed peace deal between Russia and Ukraine. January-dated West Texas Intermediate (WTI) crude fell $1.04, or 1.6%, to settle at $57.96 per barrel. For the week, black gold lost 3.3%.
Gold prices cautiously rose, even as the chances of a rete cut increased with the dovish comments today. December-dated gold futures added 0.5% to settle at $4,080.30 per ounce. For the week, gold lost 0.7%.