After struggling for direction most of the day, the Dow finished modestly higher, while the S&P 500 eked out a fourth consecutive gain and record close. The tech-heavy Nasdaq logged a triple-digit gain for its fourth-straight win and an all-time peak of its own.All three indexes finished with healthy weekly wins, the lattermost’s fifth-straight and best performance since April 26. Trading volume was muted during the holiday-shortened week, but after the jobs data this morning, investors head into the thick of summer encouraged by the prospect rate hikes in September.
OIL, GOLD MARK IMPRESSIVE WEEKLY WINS
Crude prices fell for the day but logged a solid weekly win. August-dated West Intermediate (WTI) crude shed 72 cents, or 0.9%, to settle at $83.16 per barrel for the session and climbed by more than 2% for the week.As pressure continued to weigh on the U.S. dollar and economic reports suggested a slowing economy, gold finished at its highest mark since May. August-dated gold added $28.30, or 1.2%, at $2,397.70 an ounce for the day, and posted its best week since May 10, gaining 2.5%.More By This Author:Tech Takes Off As Fed Fatigue Wears Down
S&P 500, Nasdaq Log Record Closes After Impressive Recovery
S&P 500 Conquers 5500; Nasdaq, Dow Add Triple Digits
