The Dow posted a 235-point gain as easing oil prices lifted sentiment, with Apple (AAPL) shares climbing on rising expectations ahead of next week's earnings. The S&P 500 finished little changed, while the Nasdaq dropped triple digits amid chip weakness, with Intel (INTC) leading losses despite a strong second-quarter report.
The Dow logged its third consecutive weekly loss, while the S&P 500 and Nasdaq each notched a second-straight weekly decline. Meanwhile, the previously outperforming Russell 2000 Index (RUT) finished its fourth consecutive week in the red.
Oil, Gold Post Large Weekly Rises
Oil prices finally took a breather despite ongoing Middle East tensions, though news that Pakistan is looking for a way to revive talks between the U.S. and Iran reignited peace deal hopes. September-dated West Texas Intermediate (WTI) crude dropped 3% to settle at $89.31 a barrel for the day, but notched a 9.2% weekly gain -- its best week since May.
Gold prices rose today, with July-dated gold futures climbing 1.4% for the week to settle at $4,067.60 per ounce -- its largest weekly gain since May 8.
Comments
Log in or sign up to join the conversation.