Stocks Right the Ship But Still Suffer Steep Weekly Losses

Stocks gathered themselves today to finish a rough week on a high note. The Dow recouped yesterday's dramatic pivot and reclaimed 46,000 thanks to a 493-point pop, though it still finished 1.9% lower on the week. The S&P 500 and Nasdaq finished confidently higher on the day but both slid for the week as well.

Driving the Friday rally was some favorable rate-cut rhetoric from New York Fed President John Williams this morning. Nvidia (NVDA) is also up off the mat, amid reports the Trump administration is weighing a sale of the chipmaker’s H200 chips to China.

Continue reading for more on today's market, including:

• Retail stock breaks out after upbeat earnings.
• Our Substack is heating up. See the latest.
• Plus, TMUS upgraded; Bitcoin ETF struggles; and an energy stock for contrarians. 

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Weekly Losses Stain Commodities

Oil prices continued their trek lower, with all eyes on the reported U.S.-backed peace deal between Russia and Ukraine. January-dated West Texas Intermediate (WTI) crude fell $1.04, or 1.6%, to settle at $57.96 per barrel. For the week, black gold lost 3.3%. 

Gold prices cautiously rose, even as the chances of a rete cut increased with the dovish comments today. December-dated gold futures added 0.5% to settle at $4,080.30 per ounce. For the week, gold lost 0.7%.