After a modest day of trading, the major indexes finished lower across the board, succumbing to a jobs data underscoring a red-hot labor market, and the subsequent boost in bond yields. Despite the choppy price action today, the Dow, S&P 500, and Nasdaq all logged weekly wins, the former hitting another record peak today and the tech-heavy latter logging its best week since April 26.
GOLD, OIL SINK NEARLY 2% FOR THE WEEK
Fed worries and jobs data sent oil futures barely for Friday’s session. July-dated West Intermediate (WTI) crude dropped 2 cents, or 0.1%, to close at $75.53 per barrel on the day and off 1.9% for the week, black gold’s third consecutive week in the red. Gold fared no better, falling to its worst close in nearly a month on the back of strong jobs data and China central bank updates. The June-dated commodity closed down $65.90, or 2.8%, to settle at $2,323.80 an ounce for the day and 1.9% lower on the week.More By This Author:Stocks Choppy As ‘Higher for Longer’ Fed Rhetoric WeighsS&P 500, Nasdaq Slip Despite Fresh RecordsStocks Stall As Investors Await Key Jobs Report
