The Dow added another 153 points during Friday’s holiday-shortened session, as end-of-year optimism blooms on Wall Street. The Federal Reserve’s promising commentary this week helped boost sentiment, though China’s Covid-19 restrictions are still something to monitor heading into 2023. The S&P 500 struggled for direction before eventually settling with a muted loss, while the Nasdaq spent the day in the red, logging a loss on Friday. All three indexes did notch comfortable weekly wins, however.
Continue reading for more on today’s market, including:
- Video game stock weakens on antitrust drama.
- Embattled Bed Bath & Beyond faces more issues.
- Plus, COUP’s buyout buzz; more on the retail sector; and two auto recalls to watch.
The Dow Jones Industrial Average (DJI – 34,347.97) gained nearly 153 points, or 0.5% for the day. Boeing (BA) paced the gainers with a 2% win. Apple (AAPL) led the laggards with a 2% loss. For the week, the index added 1.8%.
The S&P 500 Index (SPX – 4,026.12) lost 1.1 point, or 0.03% for the day, while the Nasdaq Composite Index (IXIC – 11,226.36) shed 59 points, or 0.5%. The former added 1.5%, and the latter tacked on 0.7% for the week.
Lastly, the Cboe Volatility Index (VIX – 20.50) added 0.1 point, or 0.4% for the session, and lost 11.3% for the week.
5 Things to Know Today
- A Moody’s analyst found that inflation raised household spending by $433 a month in October. (CNBC)
- Online shopping sales are expected to rise just 1% to $9 billion on Black Friday, according to data released by Adobe. (MarketWatch)
- Buyout buzz strengthens Coupa Software stock.
- Keeping an eye on the retail sector ahead of the gift-giving season.
- How did Ford Motor and Tesla stock fare amid today’s recall news?
There were no earnings of note today.
Due to technical difficulties the Unusual Options Volume chart is unavailable today
Group of Seven Meet Over Russian Oil’s Price Cap
Oil prices rose the day after Thanksgiving, though the commodity logged a weekly loss as anxieties over demand in China loom. The now front-month, January-dated crude shed 27 cents, or 0.5%, to trade at $78.31 per barrel. For the week, black gold lost 2%.
The U.S. dollar saw a rebound on Friday, making gold prices volatile. December-dated gold added $1 or roughly 0.1%, to settle at $1,746 an ounce.
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