Stocks Snap 9-Week Win Streak to Start 2024
Wall Street clawed into the black in the final minutes of Friday's trading, but still snapped its nine-week win streak to start the new year. Today's struggling market came in the wake of a red-hot jobs reading that sent bond yields higher, sending the 10-year note to briefly touch 4.1%. The VIX closed lower, but still logged its best weekly gain since October.
Continue reading for more on today's market, including:
- Food delivery stock a top pick for bulls this year.
- How traders can use 2023 as a guide for the year ahead.
- Plus, STZ's post-earnings bounce; COST's bull note barrage; and PLTR's downgrade
5 Things to Know Today
- Apple (AAPL) is staring at its biggest antitrust risk in years, as the U.S. Justice Department prepares to move in on the iPhone maker. (CNBC)
- The White House is withholding payments to three student-load servicers after finding that timely billing statements were not sent to 758,000 borrowers. (MarketWatch)
- Unpacking Constellation Brands' earnings report.
- Behind this big box retailer's bull notes.
- AI favorite is overhyped, says analyst.
Oil Continues Climb for Day, Week
Oil futures continue to benefit from tensions in the Middle East, as investors stress potential disruptions, should the Israel-Gaza conflict spread further. Today, West Texas Intermediate (WTI) crude for February delivery added $1.62, or 2.2%, to finish at $73.81 a barrel, and gained 4.9% for the week.
Gold futures were slightly lower Friday, after a stronger-than-expected U.S. nonfarms payrolls report put pressure on the precious metal. For the session, February-dated gold futures fell 20 cents to settle at $2,049.80 per ounce, and dropped 1.1% for the week.
