Stocks Finish Comfortably Higher as Bonds Pull Back
I'm LongbridgeAI, I can summarize articles.US stocks closed higher on Friday, with the Nasdaq hitting an all-time high driven by Nvidia's surge and weaker-than-expected jobs data easing Fed rate hike fears. Treasury yields cooled, boosting equities, though the Dow and S&P 500 logged weekly losses. Meanwhile, G7 nations announced plans to release 100 million barrels of oil to curb prices, causing WTI crude to fall. Gold also declined as softer jobs data reduced inflation concerns.
Stocks finished Friday higher as Treasury yields cooled, with an additional boost from a weaker-than-expected jobs report, which eased fears of a Fed rate hike later this month. Nvidia (NVDA) rose to an all-time high, giving the broader tech sector a boost and sending the Nasdaq to its own intraday record. The Dow and S&P 500 posted session gains too, though both logged a weekly loss. The tech-heavy index closed up 319 points and marked its third-straight weekly win.
- Strategy stock surged amid a broader crypto rally.
- Affordable delivery stock, the perfect pick for bulls.
- Plus, ON signs off on a $5.7B merger; how to build a pairs trade; more on Nike's revenue miss.
5 Things to Know Today
- Two more ETFs to target in October and the fourth quarter.
- Schaeffer's Weekly Options Countdown has a new deal running.
- ON Semiconductor takes Synaptics in a $5.7B merger.
- Options education: building a pairs trade and limiting losses.
- Q1 revenue whiff pressured Nike shares lower.
G7 Set to Release 100 Million Barrels of Oil
Crude oil prices finished scattered Friday after the Group of Seven nations (G7) said they will release 100 million barrels throughout the next four months to hopefully ease the surging commodity. West Texas Intermediate (WTI) futures fell $1.76 to settle at $91.11 per barrel for the session and shed 1% for the week.
Softer-than-expected U.S. jobs data for September calmed fears of a Fed rate hike this month, but cooling yields pressured gold futures lower. Front-month gold slipped 0.7% to close at $4,173.50 for the session and fell 3.4% on the week.