All three major indexes comfortable secured weekly wins
Stocks finished the week with modest gains across the board, cementing four-day win streaks for the Dow, S&P 500, and Nasdaq. All three major indexes pared early morning losses and secured weekly wins, thanks today to a renewed rally from large-cap tech stocks, as well as a final consumer sentiment survey from the University of Michigan that topped expectations.
Investors will monitor tariff negotiations over the weekend, especially after President Trump told reporters from Air Force One that he wouldn’t drop tariffs on China unless “they give us something.” Even amid this uncertainty, Wall Street's "fear gauge," the Cboe Volatility Index, fell for the fourth-straight day and logged a third-straight weekly loss.
Continue reading for more on today's market, including:
- 2 pharma stocks heading in opposite directions.
- What part of T-Mobile earnings caused a selloff today?
- Plus, retail stock to watch; sectors in focus; and Alphabet's outstanding earnings.
5 Things to Know Today
- The housing market suffered another setback today. (MarketWatch)
- Between a drought and now tariffs, Kentucky farms can't buy a break. (Reuters)
- Dollar General stock could catapult off of support.
- Which sectors made noise this week?
- Alphabet stock scores best day since early 2023.
Weekly Losses for Commodities
Oil prices turned in a win today but a loss for the week, plagued by oversupply concerns and a robust U.S. dollar. June-dated West Texas Intermediate (WTI) crude added 23 cents to finish at $63.02 per barrel. For the week, black gold fell over 2%.
Gold prices cooled off today and for the week, weighed down by the dollar. June-dated gold shed 1.6% to settle at $3,299 an ounce. For the week, bullion lost 1.2%.