I'm Peter Schack, CNBC.Stocks are mostly higher as the Dow and S&P 500 wrap up their best weeks of 2024.The Dow up by 245 points at 43,975.The S&P 500 22 points higher, or about four-tenths of a percent.
The Nasdaq barely above break-even, up less than three points.Both the Dow and S&P 500 have hit record intraday highs during today's trading.
Today marks the first day of the new-look Dow Jones Industrial Average, with NVIDIA and Sherwin-Williams replacing Intel and Dow Inc.
Some have speculated that NVIDIA could benefit from potential tariffs on Chinese-made products, but Wolf Research senior analyst Chris Casso says that's not necessarily the case.
China is already very, very significantly hampered in what they can produce already.So any other restrictions from here, it's either kind of tweaking along the edges or a full stop.And a full stop hasn't been on the table.
The Biden administration has purchased 2.4 million barrels of oil for the nation's Strategic Petroleum Reserve.That exhausts the Energy Department's fund to purchase oil for the reserve, crude, by the way, down more than 3% today.
Tesla stock is surging 7% as traders bet on more favorable treatment for Elon Musk's companies under the Trump administration.That also puts Tesla over the $1 trillion market cap level.Peter Schack now, CNBC.
November 13th in New York City an elite group will gather discussing what the business of tomorrow will look like and you can be a part of it.Register now at deliveringalpha.com
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