The Nasdaq and S&P 500 just extended their weekly losses to four
Stocks staged a massive comeback today, rebounding from a tariff-fueled selloff, pushing aside a marked drop in consumer sentiment. The Dow snapped a four-day losing streak with a 674-point pop, notching its best single-day percentage gain since Jan. 15. This sent Wall Street's "fear gauge," or Cboe Volatility Index (VIX), to its worst day since the same date, while the S&P 500 notched a rare triple-digit win, and alongside the Nasdaq, marked its best day since Nov. 6.
Despite the Friday rally, stocks still finished sharply lower for the week. The S&P 500 and Nasdaq both locked in a fourth consecutive weekly drop, while the Dow saw its worst week since March 2023.
Continue reading for more on today's market, including:
- General Mills stock pulls back ahead of earnings.
- It's time for bulls to buy Starbucks stock.
- Plus, a quick weekly market recap; more on ULTA's earnings beat; and PTON's new 'buy' rating.
5 Things to Know Today
- A struggling United States Postal Service (USPS) will cut 10,000 jobs after striking a deal with Elon Musk's Department of Global Efficiency (DOGE). (Reuters)
- Stifel recruited a financial advisor team from Raymond James that handles $1.35 billion in client assets. (Barron's)
- Earnings roundup this week: plenty of uncertainty going forward.
- Ulta Beauty stock brushes off downbeat forecast.
- Analyst: Peloton stock 'regains its footing.'
Gold Crosses Over $3,000 Mark
Oil prices finished higher after the U.S. imposed sanctions on Iran, marking a weekly win for the first time in eight. April-dated West Texas Intermediate (WTI) crude rose 63 cents, or nearly 1%, to settle at at $67.18 a barrel, marking a 0.2% weekly rise.
Gold futures closed at an all-time high of $3,001.1 an ounce today, following an extended period of investors targeting the safe-haven. For the week, gold gained around 3% for the week.