The Dow scored another triple-digit pop and all-time high to close out the week, while the S&P 500 erased earlier gains to settle lower alongside the Nasdaq, which snapped a four-day win streak. The three major indexes still nabbed their third-straight weekly wins, however, as traders unpacked a personal consumption expenditures (PCE) price index for August that was mostly in line with expectations, fueling hopes of additional interest rate cuts going forward.
OIL PRICES NABS DAILY GAIN, WEEKLY LOSS
Oil prices settled higher on Friday, but still marked a 4% weekly loss as investors questioned how much demand will stem from China’s stimulus, and anticipated the Organization of the Petroleum Exporting Countries and their allies (OPEC+) to boost production before the end of 2024. November-dated West Texas Intermediate (WTI) crude rose 51 cents, or 0.8%, to settle at $68.18 per barrel on the day.Gold prices settled lower today despite interest rate cut optimism, but the safe-haven commodity is still on track for its best quarter since 2016. Gold for December delivery was last seen 0.8% lower at $2,673.20.More By This Author:Stocks Higher On Week; Dow Grabs Fresh Record
Dow, Nasdaq Add Triple Digits; S&P 500 Nabs Another Record
Stocks Resume Uptrend As SPX Nabs Another All-Time High
