Dow Nabs Weekly Win Despite Volatile Week On Wall Street

Stocks were mixed on Friday to wrap up a volatile week on Wall Street, despite earlier surging in response to Treasury Secretary Janet Yellen's calls for additional stimulus. The Dow added one single point, while the tech-heavy Nasdaq Composite also finished in the black, thanks to outsized gains from Applied Materials (AMAT). The same cannot be said for the S&P 500, though, which registered a modest loss. Rising interest rates, as well as a Big Tech selloff, are behind today's lackluster price action. For the week, only the Dow walked away with marginal gains. 

The Dow Jones Industrial Average (DJI - 31,494.32) added 1 point, or was flat for the day, and rose 0.1% for the week. Caterpillar (CAT) led the Dow components with a 5% rise, while Visa (V) paced the laggards, falling 2.2%.

Meanwhile, the S&P 500 Index (SPX - 3,906.71fell 7.3 points, or 0.2% for the day, and 0.7% for the week. The Nasdaq Composite (IXIC - 13,874.46added 9.1 points, or 0.07% for the day, but fell 1.6% for the week.

Lastly, the Cboe Volatility Index (VIX - 22.05) fell 0.4 points, or 2% for the day, but added 10.4% for the week.

closing indexes february 19

nyse and nasdaq february 19

  1. U.S. President Joe Biden backed the North Atlantic Treaty Organization (NATO) military alliance, and promised to fix strained relationships with its partners and European allies. (CNBC)
  2. Twitter (TWTR), Facebook (FB), and other companies have signed onto a Silicon Valley-born initiative that seeks to boost diversity in leadership to 25% by 2025. (MarketWatch)
  3. Tripadvisor stock took a ride to annual highs despite an earnings miss.
  4. This outperforming restaurant name has affordable options right now.
  5. slew of bull notes and quarterly win failed to boost Roku stock.

earnings feb 19

uvol feb 19

GOLD PRICES REGISTER BIGGEST WEEKLY DROP SINCE JANUARY

Oil prices were lower on Friday, falling back below the $60 level on expectations that crude output in Texas will soon return to normal, following a brutal winter storm that left refineries either closer or working at reduced capacity. Investors were also worried the Organization of the Petroleum Exporting Countries and its allies (OPEC+) may ease production curbs and were closely monitoring tense U.S.-Iran relations. In response, March-dated crude fell $1.28, or 2.1%, to settle at $59.24 per barrel on the day. For the week, it fell 0.4%.

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Disclaimer: Schaeffer's Investment Research ("SIR" or "we" or "us") is not registered as an investment adviser. SIR relies upon the "publishers' ...

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