Stocks pared weaker-than-expected consumer sentiment data and a choppy morning to finish the week in the black across the board. The S&P 500 notched a fifth-straight win, and together with the Dow and Nasdaq, all three major indexes secured their best weekly gains since April 11. Driving stocks this week has been renewed trade hopes between the U.S. and China, a development that sent Wall Street's "fear gauge," the Cboe Volatility Index (VIX), to its lowest close since March 25.
Continue reading for more on today's market, including:
- Recap Wall Street's latest rally, in five minutes.
- Buffett buzz boosts beverage stock.
- Plus, C-suite shakeup in pharma; a M&A to unpack; and a Memorial Day primer.
5 Things to Know Today
- Trump's latest bill was rejected by the House Budget Committee. (CNBC)
- The Federal Reserve plans to cut its workforce by 10%. (Bloomberg)
- C-suite shakeup weighs on Novo Nordisk stock.
- Billion-dollar merger news sends CHTR surging.
- What to expect from stocks for Memorial Day week.
Gold Logs Worst Week Since November
Crude managed to eke out a second-straight weekly win, finishing up more than 2%. For today, June-dated West Texas Intermediate (WTI) rose 87 cents, or 1.41%, to settle at $62.49 per barrel.
Gold suffered steep losses as it acclimated to thawed trade tensions. Logging its worst week since November, June-dated gold futures shed 1.2% to finish at $3,187.20 per ounce on the day and around 4.2% lower for the week.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
