Earnings season has taken over Wall Street
Stocks ended the day mixed, with the blue-chip index the only winner, logging a fifth-straight gain. All three benchmarks logged impressive weekly wins, with the Dow snagging its best week since March. A strong start to the second-quarter earnings season was an upbeat omen for stocks, with inflation data boosting sentiment as well. The Cboe Volatility Index (VIX), or the market's "fear gauge," backpedaled more than 10% for the week.
Continue reading for more on today's market, including:
- The hero behind Wall Street's near-perfect week.
- Software stock slated for impressive gains.
- Plus, tech powerhouse surges; bank sector blowout; and latest Disney c-suite news.
5 Things to Know Today
- Around 8,000 student loan borrowers will be getting relief, after the Biden administration axed $39 billion in debt. (CNBC)
- Import prices have fallen for another month, down 0.2% in June. (MarketWatch)
- Tech mogul neared fresh highs after bull note.
- Behind the bank sector earnings blowout.
- Why call traders jumped on Walt Disney stock.
Gold Logs Best Week Since April
Oil prices inched lower for Friday's session, but managed to log its longest weekly win streak since April. August-dated oil shed $1.47, or 1.9%, settle at $75.42 per barrel for the day, and added 2.1% for the week.
Inflation buzz sent gold futures to its best weekly performance since April 6. August-dated gold added 60 cents or just under 0.1%, to close at $1,964.40 an ounce on the day and 1.7% for the week.