Stocks limped into the weekend once again, with steep five-day losses across all three major indexes. The Dow turned in its worst weekly performance since March 10, and is now trading at its lowest level since Aug. 18. The S&P 500 and Nasdaq also closed the week lower, with the latter still firmly in correction territory despite a modest win today. As earnings reports continue to rattle Wall Street all eyes turn to a pivotal Fed meeting next week for interest rate clarity.
OIL PRICES MARK BIG WEEKLY LOSSES
Oil futures marked their highest close in a week today, as tensions in the Middle East mounted, sparking anxieties of a more widespread conflict in the oil-rich region. For the session, December-dated West Texas Intermediate (WTI) crude added $2.33, or 2.8%, to settle at $85.54 a barrel, but fell 2.9% for the week. Gold prices rose sharply Friday, touching $2,016.40 an ounce — their highest intraday levels since May. The safe haven asset’s value is appealing to investors seeking stability amid volatility in the Middle East. December-dated gold added $13.60, or 0.7%, to settle at $2,011 an ounce for the day, and gained roughly 0.5% this week.More By This Author:Stocks Mixed As Nasdaq Rallies To End The Week
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