All three major indexes posted weekly losses
The Dow and Nasdaq both dropped over 300 points on Friday, while the S&P 500 finished deep in the red as well, firming up weekly losses for all three benchmarks. Another semiconductor selloff weighed on the market today, as well as a sharp post-earnings drop from Netflix (NFLX). Wall Street's "fear gauge," the Cboe Volatility Index (VIX) notched its highest close in almost three weeks, while the small-cap Russell 2000 Index (RUT) marked its third-straight weekly loss as it extends its pullback from record highs.
Continue reading for more on today's market, including:
- Why we recommended an Intel options trade last Sunday.
- Next week will bring earnings from Alphabet, Tesla, and more.
- Plus, more on NFLX; AAPL pushes past NVDA; and a list stocks to watch by 2030.
5 Things to Know Today
- President Donald Trump has made election security a top priority, accusing China of intervening in the 2020 presidential race. (Reuters)
- Sweetgreen (SG) shares soared after the recent Cyclospora outbreak was linked back to Taylor Farms. (Stocktwits)
- Netflix to end biannual viewership reports.
- Apple reclaimed its spot as the world's most valuable company.
- Incase you missed it: a list of stocks with long-term potential.
Oil Prices Surge 16% on the Week
Oil prices ticked higher Friday after Kuwait said Iran attacked a major power and water desalination plant. August-dated West Texas Intermediate (WTI) crude rose 4.5% to settle at $82.49, marking a roughly 16% rise for the week.
August-dated gold futures inched 0.7% higher to $4,015.09 per ounce, still losing roughly 3% for the week as Middle East tensions ramped up. This marked its largest weekly drop in six.