Dow Surges Over 860 Points with Best Weekly Gain Since June
On Friday the Dow added over 860 points after WTI crude prices plunged about 12% to $83.85 per barrel. The index notched its third-straight weekly gain and strongest weekly advance since June, contributing to record closes for the S&P 500 and a 12-day Nasdaq win streak.
1. Dow Gains Over 860 Points on Oil Slide
On Friday the Dow rose over 860 points as May-delivery WTI crude tumbled about 12% to $83.85 per barrel, easing supply concerns related to the Strait of Hormuz.
2. Third Straight Weekly Gain, Best Since June
The index recorded its third consecutive weekly gain and strongest weekly advance since June, contributing to record closes for the S&P 500 and extending the Nasdaq’s win streak to 12 days.
3. Volatility Drops as Gold Climbs
The Cboe VIX slipped for an eighth straight session and declined for the third week, while June gold jumped 1.6% to $4,883.20 an ounce as investor risk appetite improved.