Dow Manages 3rd Weekly Win Despite Sharp Friday Losses

Stocks finished lower on Friday, thanks to the usual suspects; rising oil prices and renewed Middle East tensions. The Dow tumbled over 600 points, marking its worst day since August, with American Express (AXP) weighing on the blue-chip index after announcing plans to cut about 5% of its global workforce. Still, the blue-chip index managed its third consecutive weekly win. The small cap Russell 2000 (RUT), meanwhile, logged its first weekly win since Sept. 4.

The S&P 500 and Nasdaq finished modestly lower, the latter failing to sustain its midday rebound. Both logged their second straight weekly losses. Looking ahead, investors are turning their attention to next week's Federal Reserve meeting, where interest rates are widely expected to remain unchanged.

Brent Crude Hits 6-Month High; Gold Hits 3-Month Low

Oil prices continue to rise amid U.S.-Iran tensions. December-dated West Texas Intermediate (WTI) futures added 3.8% to settle at $103.27 a barrel, while Brent crude rose 3.1% to close at $116.72 a barrel, its highest settlement since April 29. For the week, Brent jumped 6.2% while WTI advanced 2%. 

Gold prices fell sharply ahead of next week's Fed decision, hitting three-month lows and marking a weekly loss. December-dated gold futures settled 1.3% lower at $4,007.90 per ounce.