Stocks Stall But Grab Big Weekly Wins
President Trump isn't sure about rolling back tariffs on China
U.S. stocks ended the week with a quiet session that saw the major indexes close near breakeven. Traders responded to news that President Donald Trump hasn't agreed to roll back tariffs on China, wiping away early morning gains. The Dow ended up with a small win, while the S&P 500 and Nasdaq also edged out gains. All three indexes closed the week in positive territory, with the latter notching its sixth straight weekly win.
Continue reading for more on today's market, including:
The deep out-of-the-money Tesla calls that were popular today. Wedbush thinks this software stock could slide. Plus, Shopify could rally; 2 drug stocks that made massive moves; and a big earnings winner.The Dow Jones Industrial Average (DJI - 27,681.24) finishedwith a 6.4-point, or 0.02%, win, settling at an all-time-high close. Of the Dow's 30 components, 19 closed higher, led by Walt Disney's (DIS) 3.8% earnings win. Verizon (VZ) had the worst day, down 2% by the close. The Dow added 1.2% for the week.
The S&P 500 Index (SPX - 3,093.08) gained 7.9 points, or 0.3%, for another record close and a fifth straight weekly win, adding 0.8%. The Nasdaq Composite (IXIC - 8,475.31) added 40.8 points, or 0.5%, also grabbing a record close, and bringing its weekly advance to 1%.
The Cboe Volatility Index (VIX - 12.07) dipped 0.7 point, or 5.2%, settling down 1.9% on the week.
5 Items on Our Radar Today
Coca-Cola (KO) next year is coming out with a new brand of sparkling water, Aha. Sugarless drinks were a major point of strength in KO's last two quarters. (MarketWatch)Google's self-driving car division Waymo is closing its operations in Austin, Texas. Analysts have become skeptical of the business as it's struggled to find commercial footing. Why bulls should watch Shopify. 2 drug stocks that made massive moves. Inside one of today's biggest earnings winners.
Gold Has Worst Week Since '17
Oil managed a win today despite the weakness in equities. December crude futures finished up 9 cents, or 0.2%, at $57.24 per barrel. Oil added 1.9% on the week.
Gold ended an ugly week with another loss. December-dated gold lost $3.50, or 0.2%, to end at $1,462.90 an ounce. For the week, the metal lost 3.2%, marking its worst week since 2017.