Stocks Cap Week with Another Run to Record Highs
The Dow rose above 28,000 for the first time ever
Stocks finished out the week with a strong performance, as the Dow, S&P 500, and Nasdaq all hit record highs -- and the former made its first-ever trek above 28,000. The bullish bias was stoked by upbeat trade talk and well-received retail sales, while investors also kept tabs on all the impeachment hearing headlines out of Washington. Today's gains only added to a strong weekly performance for the major indexes, which extended their weekly winning streaks.
Continue reading for more on today's market, including:.
AMD stock kept its huge winning streak alive.A REIT that could record new highs next month. Plus, options markets awaits Kohl's earnings; 2 hot stocks with heavy call trading; and communications stock has horrible week.The Dow Jones Industrial Average (DJI - 28,004.89) added 222.93, or 0.8%, with 24 of its 30 components closing higher. UnitedHealth (UNH) led the way with a 5.3% rally, and Walt Disney (DIS) paced the six losers with a 1.7% loss. The Dow ended the week up 1.2%.
The S&P 500 Index (SPX - 3,120.46) rose 23.8 points, or 0.8%, and the Nasdaq Composite (IXIC - 8,540.83) added 61.8 points, or 0.7%. The S&P added 0.8% for the week, and the Nasdaq picked up 0.7%.
The Cboe Volatility Index (VIX - 12.05) dipped 1 point, or 7.7%, ending the week down 0.2%.
5 Items on Our Radar Today
Freezing temperatures in Canada are compounding a shortage in canola. Canola is Canada's most profitable crop, and sliding canola futures are only making the problem worse for the industry. (Reuters)Healthcare stocks got a boost today as President Donald Trump discussed a plan to make hospitals disclose some prices they negotiate with insurers. While the rule is expected to go into effect in 2021, it'll likely face legal challenges. (CNBC) Options traders are gearing up for the Kohl's earnings release. 2 surging stocks that saw heightened call activity. The communications stock that had a horrible week.
Oil Prices Post Weekly Gain
Oil prices pushed higher today as data suggested a decline in production. December crude futures finished up 95 cents, or 1.7%, at $57.72 per barrel -- putting the weekly gain at 0.8%.
Gold prices struggled as stocks pushed higher. December gold futures finished down $4.90, or 0.3%, at $1,468.50 an ounce. Gold's weekly gain was 0.7%.