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Wall Street Ends Wild Week in the Green on Quadruple Witching Day

July 23, 2023
in Trade Tube
Reading Time: 1 min read
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Wall Street finished a wild week on a high note. The day was expected to be even more volatile due to quadruple witching, when four options and futures contracts expire. But it was a steady climb up for stocks as investors cheered the weaker dollar. Oil prices added more than a buck to settle at $46.57 a barrel. UnitedHealth (UNH) was the only blue chip to not join the rally. Shares fell despite its price target getting a boost from Barclays (BCS) to $138 from $124. Nike (NKE) was by far the best performing Dow component. Shares spiked more than 4% on better than expected earnings results. The athletic retailer did warn the stronger dollar will hit its current quarter. Currency headwinds took down shares of Tiffany (TIF). The high-end jeweler blamed the greenback for missing same-store sales and issuing a weak guidance.

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