The Dow had its best single-session gain since March 27
For the second-straight Friday, Wall Street stuck the landing. Thanks to jobs data that supports interest rate cuts in the future, the Dow scored its best single-session pop since March 27 and secured a third-straight weekly win. The S&P 500 and Nasdaq also made outsized moves today for back-to-back positive weeks. As the 10-year Treasury yield breaches 4.5%, the Cboe Volatility Index (VIX) logged its lowest close in over a month.
Continue reading for more on today's market, including:
- Get ready for Walt Disney earnings next week.
- Retail stock ripe for a short squeeze.
- Plus, stock replacement strategy; SQ's post-earnings pop; and bear notes for EXPE.
5 Things to Know Today
- This service sector gauge also weakened in April. (MarketWatch)
- Social media platforms are courting TikTok for ad deals. (Reuters)
- This options strategy could settle the nerves.
- Square stock enjoys Bitcoin (BTC) bump.
- Travel stock draws bear notes after earnings.
Oil Marks Worst Week Since February
Oil prices tumbled again, following news the Organization of the Petroleum Exporting Countries (OPEC+) is weighing production cuts beyond the second quarter. June-dated West Texas Intermediate (WTI) crude fell 84 cents, or 1.1%, to settle at $78.11 a barrel. For the week, black gold fell about 6.9% -- its worst percentage loss since February.
Gold prices were static in response to the jobs report. June-dated gold futures settled at $2,309.10 per ounce.