Stocks finished a volatile and monumentally-important week with a flourish today. Thanks to outsized gains today, the Dow and S&P 500 notched their best weekly performances since November 2023. The former crossed above 44,000 for the first time ever, and the latter notched a third-straight record close while briefly surpassing 6,000 for the first time ever.
The tech-heavy Nasdaq logged a record close of its own and turned in its best weekly performance since September 13. Not to be outdone, the small-cap Russell 2000 Index (RUT) had its best weekly gain since April 2020, adding 8.4%. Against this backdrop, Wall Street's "fear gauge," the Cboe Volatility Index (VIX) clocked its lowest close since Aug. 19.
Continue reading for more on today's market, including:
- Ge Aerospace stock has room to run.
- Your guide to options ETFs after Election Day.
- Plus, cloud stock cools; unpacking Airbnb earnings; and the fintech sector in focus.
5 Things to Know Today
- At the request of special counsel Jack Smith, a judge paused proceedings in the criminal case against President-elect Donald Trump. (CNBC)
- Consumer credit climbed in September, albeit slowly. (MarketWatch)
- Cloud stock suffers post-earnings pullback
- Mixed quarterly results weighed on Airbnb stock.
- These fintech stocks moved in opposite directions.
Gold Poised for Steep Weekly Loss; Oil Brushes off China Stimulus
Oil futures edged lower Friday, as President-elect Trump's call for more U.S. production overshadowed China's new stimulus measures and their impact on energy demand expectation. For the session, December-dated West Texas Intermediate (WTI) crude shed $1.98 cents, or 2.7%, to settle at $70.38 a barrel, but the front-month contract rose 1.3% this week.
Gold prices also tumbled today, heading for their biggest weekly fall in more than five months amid a strong dollar. Traders also weighed the implications for bullion following Trump's victory and the future of interest rate moves. Gold futures settled 0.3% lower at $2,697.90.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
