The Nasdaq saw its best weekly performance since January
Despite taking a major step back from yesterday's record closes and snapping four-day win streaks, the Dow and S&P 500 still had their best week of 2024. The Nasdaq scored a modest fifth-straight daily gain, however, and saw its best week since January thanks to a strong tech sector. Conversely, Wall Street's fear gauge -- the Cboe Volatility Index (VIX) -- had its worst week since November.
Continue reading for more on today's market, including:
- Government hits Apple with antitrust lawsuit.
- Allstate stock boasting several support layers.
- Plus, 6 chip stocks to watch; LULU's dismal revenue outlook; and why NKE tumbled.
5 Things to Know Today
- FedEx (FDX) stock surged after the delivery company revealed a quarterly profit beat, $5 billion share buyback program, and cost-cutting measures. (MarketWatch)
- Airbus CFO Thomas Toepfer said he is "not happy" about the issues Boeing (BA) is facing, noting Airbus is now "obsessed" with preventing similar problems. (CNBC)
- Don't miss this week's biggest semiconductor headlines.
- Nike stock gaps lower amid growth struggles in China.
- Disappointing revenue forecast dings Lululemon stock.
Oil Lower on Efforts to Ease Global Tensions
Oil prices moved lower on Friday, amid cease-fire talk efforts in Gaza, and U.S. calls for Ukraine to stop attacking Russia’s refineries.May-dated West Texas Intermediate (WTI) shed 44 cents, or 0.5%, to settle at $80.63 per barrel on the day, and dropped 1.9% this week.
Gold prices also fell, cooling from yesterday's record highs thanks to a stronger U.S. dollar. April-dated gold shed $24.70, or 1.1%, to settle at $2,160.00 per ounce on the day. For the week, the yellow metal shed 0.2%.