U.S. stocks logged modest gains in today's trading, driven by encouraging jobs data and news that noticeable progress is being made between the U.S. and China regarding a trade deal -- with President Donald Trump saying earlier the two countries are "rounding the turn." The Dow took a third straight gain, while the S&P 500 marked a seventh -- its longest daily win streak since October 2017. Both indexes, as well as the tech-heavy Nasdaq, logged a second weekly gain.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJI - 26,424.99) added 40.4 points, or 0.2%. Cheveron ( CVX ) was the best of the 23 blue-chip gainers, adding 1.3%. Meanwhile, Dow ( DOW ) was the biggest loser, shedding 4.1%. For the week, the DJI rose 1.9%.
The S&P 500 Index (SPX - 2,892.74) tacked on 13.4 points, or 0.5%, while the Nasdaq Composite (IXIC - 7,938.69 ) managed to add 46.9 points, or 0.6%. The indexes closed 2% and 2.1% higher for the week, respectively.
The Cboe Volatility Index (VIX - 12.82) lost 0.8 point, or 5.6%. The market's "fear gauge" shed 6.3% for the week.
5 Items on our Radar Today
- MacKenzie Bezos will maintain a 4% stake in Amazon ( AMZN ), as part of a divorce settlement with the company's founder and CEO Jeff Bezos. This amount of stock is reportedly worth $36.5 billion -- making Bezos one of the top four wealthiest women in the world. ( MarketWatch )
- Another E. coli outbreak has hit the Midwest, though the source still unidentified. Earlier today, the Centers for Disease Control and Prevention ( CDC ) said 72 people have been affected and eight hospitalized across five states. Without a cause pinpointed, the CDC did not have a specific food or restaurant chain for civilians to avoid. ( CNBC )
- This pot stock is burning shorts.
- LYFT calls were hot on Citron Research nod.
- Bullish analysts chimed in on Snap stock .
Data courtesy of Trade-Alert
Crude Soars 4.9% on the Week
Crude saw a notable lift in today's trading, as political tensions ramped up in oil-rich Libya. May-dated crude futures closed up 98 cents, or 1.6%, at $63.08 per barrel. For the week, crude logged a 4.9% gain.
Gold prices suffered following this morning's jobs data. June-dated gold shed $1.30, or 0.1%, to settle at $1,295.60 an ounce for the day, and 0.2% for the week.