Despite taking a major step back from yesterday’s record closes and snapping four-day win streaks, the Dow and S&P 500 still had their best week of 2024. The Nasdaq scored a modest fifth-straight daily gain, however, and saw its best week since January thanks to a strong tech sector. Conversely, Wall Street’s fear gauge — the Cboe Volatility Index (VIX) — had its worst week since November.
OIL LOWER ON EFFORTS TO EASE GLOBAL TENSIONS
Oil prices moved lower on Friday, amid cease-fire talk efforts in Gaza, and U.S. calls for Ukraine to stop attacking Russia’s refineries.May-dated West Texas Intermediate (WTI) shed 44 cents, or 0.5%, to settle at $80.63 per barrel on the day, and dropped 1.9% this week.Gold prices also fell, cooling from yesterday’s record highs thanks to a stronger U.S. dollar. April-dated gold shed $24.70, or 1.1%, to settle at $2,160.00 per ounce on the day. For the week, the yellow metal shed 0.2%.More By This Author:Dow, SPX Head For Best Week Of 2024
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