Stocks Rise, Still Finish Volatile Week Lower

Stocks finished the day higher, extending last session's impressive rally. It wasn't enough to recover from the global selloff earlier this week, however, with all three major indexes logging a weekly loss. For the S&P 500 and Nasdaq, it was their their fourth-straight week in the red. The VIX, meanwhile, finished the week lower despite its wild surge a few days ago. 

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

• Industrial stock with support in place. 
• Paramount Global stock rose after job cuts. 
• Plus, 2 stocks moving after earnings; and 3 chip stocks to watch. 

5 Things to Know Today 

1. Merck announced plans to buy CN201, an experimental drug targeting B-cell diseases, from Curon Biopharmaceuticals for up to $1.3 billion. (MarketWatch)
2. Colin Huang, founder of Temu, just became China's richest person. (Bloomberg)
3. Unpacking Sweetgreen's mixed earnings report. 
4. Video game stock bouncing off its recent lows. 
5. Checking in with 3 chip stocks amid AI buzz. 

Oil Breaks Weekly Losing Streak

Oil prices rose for the fourth consecutive day as recession fears eased. September-dated West Texas Intermediate (WTI) crude rose 65 cents, or 0.9%, to settle at $76.84 per barrel. For the week, U.S. crude rose 4.5%, snapping a four-week losing streak.

Gold fell sharply for the week following Monday's slide. For the day, December-dated gold futures held steady at $2,462.