Netflix earnings and tech led stocks higher today
Stocks finished the day higher, with the Nasdaq rising triple-digits for its third-straight daily gain with help from Netflix's (NFLX) post-earnings pop. For the week, all three benchmarks notched their sixth consecutive weekly gains, marking the Dow and S&P 500's longest weekly win streaks since December. Both benchmarks also continued their record runs, closing at all-time highs. Elsewhere, small caps outperformed for the week, with the Russell 2000 Index (RUT) carrying out a 1.9% weekly gain.
Continue reading for more on today's market, including:
5 Things to Know Today
- Hopes for a cease-fire in Gaza have been ignited after Israel killed Hamas' top leader on Wednesday. (Bloomberg)
- Automobile maker Stellantis (STLA) is continuing in its process to cut costs, next with plans to sell land in Arizona. (CNBC)
- Streaming parent enjoyed a major post-earnings pop.
- C-suite shakeup triggered drugstore stock slide.
- Three retail stocks with major contrarian potential.
Oil Marks Worst Week in Over a Year
Despite yesterday's brief respite, oil logged a steep loss for the day and week, as demand worries seem unshakable. November-dated West Texas Intermediate (WTI) crude shed $1.45, or 2.1%, to settle at $69.22 per barrel for the session, and 8.4% for the week -- its largest weekly drop in over a year.
On the flip side, gold managed to log a healthy weekly gain, climbing around 2.4% as election uncertainty and Middle East tensions continued. For the session, gold for December delivery has added 0.9% to trade at $2,732.40, at last check.