The Dow closed above 40,000 for the second time ever
Stocks surged into the weekend, with the Dow scoring a record high and closing above 40,000 for just the second time ever. Not to be outdone, the S&P 500 turned in a record high of its own, while the tech-heavy Nasdaq bounced back from yesterday's selloff to post a triple-digit gain. All three major indexes secured comfortable weekly wins, the Dow's best in over two months and Nasdaq's sixth straight, as investors cheered signs of a soft landing for the broader economy.
Continue reading for more on today's market, including:
- How did the AT&T breach impact options traders?
- Dow stock holding key support level.
- Plus, in defense of long strangles; JPMorgan's earnings report; and FAST calls pop.
5 Things to Know Today
- Corn prices have dug out of a bear market, temporarily. (MarketWatch)
- Bitcoin exchange-traded funds (ETFs) had quite a week. (Bloomberg)
- Long strangles could be key to this earnings season.
- JPMorgan stock sits out today's blue-chip rally.
- Call traders are feasting on FAST today.
Oil Prices Run Out of Weekly Steam
Oil prices fell today, helping black gold to its first weekly loss in five weeks. August-dated West Intermediate (WTI) crude shed 41 cents, or 0.5%, to settle at $82.21 per barrel. For the week, the loss came out to 1.1%.
Gold prices cooled today, but held the $2,400 level. August-dated gold futures lost 0.1% to settle at $2,419.10 an ounce for the day. For the week, the safe-haven asset added 1%.