Wall Street's "fear gauge," the VIX, enjoyed its best week since mid-March
A big comeback for the retail sector -- despite this morning's devastating data -- just barely saved the Dow today. The blue-chip index capped off a week of dramatic dips 60 points north of the breakeven. The S&P, also turned its luck around during the 11th hour, ending with a shallow gain, while the Nasdaq also enjoyed a modest move higher. All three major indexes saw harsh weekly losses, their worst in nearly two months, though the Cboe Market Volatility Index (VIX) enjoyed its best week since mid-March.
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The Dow Jones Industrial Average (DJI - 23,685.42) tacked on 60 points, or 0.3% on Friday. Half of the 30 index members finished higher, with Walt Disney (DIS) leading the charger and Raytheon Technologies (RTX) sliding to the bottom on a .3% loss. For the week, the Dow 2.9%
The S&P 500 Index (SPX - 2,863.70) added 11.2 points for the day, or 0.4%, and lost 2.3% for the week. Meanwhile, the Nasdaq Composite (IXIC - 9,014.56) ended 70.8 points, or 0.8%, higher, with a 1.2% weekly drop.
The Cboe Volatility Index (VIX - 32.61) lost 0.7 points, or 2.2%, but gained 14% for the week.
Data courtesy of Trade-Alert
Oil futures got another blast of wind at their back today, with cuts in crude output and an expected uptick in demand continuing to be the two driving factors.June-dated crude added $1.87, or 6.8%, to settle at $29.43 a barrel, with a 19% pop for the week.
Lackluster economic data, hit hard by the pandemic, is giving gold yet another boost today. Gold for June delivery added $15.40, or 0.9%, to settle at $1,756.30 an ounce, its highest settlement since April 14. For the week, gold futures tacked on 2.5%.