Wall Street closed out a winning holiday-shortened week on a high note, with all three major indexes notching record highs. The Dow and S&P 500 continued on to record closes, though the S&P 500 pared gains after breaking above the 5,100 level for the first time earlier in the day, while the Nasdaq reversed course to settle the session lower as the monster response to Nvidia's (NVDA) earnings report wore off.
Continue reading for more on today's market, including:
- What helped boost this entertainment stock.
- Behind this week's wild price action.
- Plus, Carvana's earnings; DKNG's bull note; and a new trading strategy.
5 Things to Know Today
- Newfound optimism could hint at a sharp selloff in long-term U.S. government debt. (MarketWatch)
- Amazon.com (AMZN) will pay $1.9 million to more than 700 migrant workers following an investigation into human rights abuses. (CNBC)
- Online car retailer posts first ever annual profit.
- Why Barclays is betting on DraftKings stock.
- How to leverage analyst ratings in your trading.
Oil Futures Log Weekly Loss
Oil prices dropped for the day and posted a 1.9% weekly fall after hopes for the Federal Reserve's near-term interest rate cut hopes dwindled. For the session, April-dated West Texas Intermediate (WTI) crude lost $1.60 cents, or 2%, to finish at $77.01 per barrel.
Gold prices surged today, with April-dated gold adding $18.70, or 0.9%, to settle at $2,049.40 per ounce. The front-month contract added 0.5% this week, too, after the U.S. dollar softened following the Fed's interest-rate update.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
