Stocks Finish Friday Mixed as Nasdaq Posts Weekly Gain
I'm LongbridgeAI, I can summarize articles.U.S. stocks finished mixed on Friday as Treasury yields rose. The Nasdaq posted a weekly gain, while the Dow suffered its third consecutive weekly loss and the S&P 500 dropped for the week. Oil prices fell amid hopes for pipeline restoration, and gold saw its first weekly advance in a month. Meanwhile, Wells Fargo downgraded Netflix to 'underweight,' and Middle East tensions continued to influence crude markets.
Stocks were a mixed bag to end the week, as Treasury yields continued their stubborn rise. The Nasdaq was the only index to post a weekly gain, paring earlier losses to finish confidently higher. The Dow, however, shed 95 points on its third straight weekly loss, while the S&P 500 was little changed for the session and dropped for the week.
Elsewhere, the small-cap Russell 2000 (RUT) finished lower for the second-straight week. Meanwhile, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), extended yesterday's pullback to close under 15.
Continue reading for more on today's market, including:
- On's new partnership dings footwear peer Nike stock.
- 3 biotech stocks sporting heavy options volume.
- Plus, Netflix downgraded; a sleepy end to September; and a software stock to avoid.
5 Things to Know Today
- Sounding the tech sector alarm in a post-Fed meeting world.
- Schaeffer's Volatility Series: get access now!
- Wells Fargo downgraded Netflix stock to "underweight."
- The week ahead will have a handful of earnings reports.
- ServiceNow stock testing bearish trendline.
There are no earnings to report today
Middle East Strikes Spike Crude Prices
Oil traded lower for the third-straight day on the hope that supply could soon be restored through Saudi Arabia's damaged East-West Pipeline. West Texas Intermediate crude fell 1.6% to settle at $100.30 per barrel for the session, and 0.2% for the week.
Gold notched ts first weekly advance in a month after reaching a one-week high. Easing oil prices helped take some pressure off inflation concerns, though strength in the U.S. dollar kept a lid on the precious metal today. December-dated gold futures were last seen down 0.2% at $4,385.90. For the week the precious metal added 0.5%.