The stock selloff kept strong to close out the week, though the major indexes closed Friday with more modest losses than the previous session thanks to an uplifting April jobs report. The Dow's 98-point drop today resulted in its sixth-straight weekly dip, while the S&P 500 and Nasdaq also finished the day lower, each scoring their fifth-consecutive week of losses. Elsewhere, Wall Street's "fear gauge," the Cboe Market Volatility Index (VIX), snapped a four-week win streak.
The Dow Jones Average (DJI - 32,899.37) shed 98.60 points, or 0.3% for the day, and 0.2% for the week. Of the 12 blue-chip winners today, Chevron (CVX) gained the most with a 2.7% rise. Meanwhile, Nike (NKE) rounded out the laggards after losing 3.5%.
The S&P 500 Index (SPX - 4,123.34) fell 23.5 points, or 0.6% for the day, and the Nasdaq Composite (IXIC - 12,144.66) lost 173 points, or 1.4% for the day. The benchmarks dipped 0.2% and 1.5%, respectively, this week.
Lastly, the Cboe Market Volatility Index (VIX - 30.19) fell 1 point or 3.2% for the day. For the week, the fear gauge erased 9.6%.
OIL SCORES 2ND-STRAIGHT WEEKLY RISE
Oil prices notched a small win to close out the week, with supply anxieties giving black gold a modest bump. Gasoline prices also surged to a record high in intraday trading. June-dated crude added $1.51, or 1.4%, to close at $109.77 per barrel, and 4.9% this week for its second-straight weekly pop.
Stronger-than-expected employment data in the U.S. helped gold log a win on Friday, though its losing weekly losing streak was extended. Specifically, June-dated gold added $7.10, or 0.4%, to settle at at $1,882.80 an ounce today, but fell 1.5% over the last five days for its third-straight weekly loss.
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