Wall Street Eyes Strong Weekly Finish as Dow Jones Holds Onto Recent Gains

Wall Street is wrapping up the week on a positive note today. Specifically, the major indices are working hard to lock in solid weekly gains. As a result, the Dow Jones Industrial Average (DJIA) edged up by 16.04 points (+0.03%) to reach 49,668.18. Similarly, the S&P 500 climbed 44.22 points (+0.61%) to a fresh record high at 7,253.23. Meanwhile, the tech-heavy Nasdaq led the major gainers higher. Specifically, it jumped 285.31 points (+1.15%) to trade at 25,177.62. Furthermore, this rally happened as oil prices fell and Apple shares jumped sharply.

Dow Jones Industrial Average (INDU)

The Dow Jones Industrial Average (DJIA) successfully closed higher yesterday with strong momentum. Furthermore, the index opened higher again at the start of today’s session. However, the price now looks slightly under bearish pressure. Despite this minor weakness, the index is still managing to keep its overall gains. Consequently, the market will likely close the week firmly on the positive side. Therefore, the broader bullish bias remains undeniably intact heading into the new trading week.

Hecla Mining Company (HL)

Hecla Mining (HL) has been undergoing a sharp bearish correction recently. Specifically, the share price has now reached the daily EMA 200 support level. Currently, the stock appears to be in a clear bottoming process around this dynamic floor. As a result, traders could start accumulating positions on the hope of a bullish continuation. However, a bearish close below the EMA 200 could quickly become a critical signal to exit. Alternatively, traders could place a hard stop loss safely below the $15.00 psychological level.