Following Friday's pattern, the Dow added triple digits and once again led the major indexes as tech weakness weighed on the broader market. The Nasdaq Composite Index (IXIC) conversely dropped 43 points, while the S&P 500 Index (SPX) finished little changed. Chip stocks remained under pressure amid mounting competition from China and growing uncertainty surrounding artificial intelligence spending. Meanwhile, easing Middle East tensions sent oil prices sharply lower. Investors now turn their attention to a busy week featuring Big Tech earnings and the Federal Reserve's latest interest rate decision.
Oil, Gold Post Large Weekly Rises
Oil prices fell as Middle East tensions steadied, with September-dated West Texas Intermediate (WTI) crude dropping 7.7% to settle at $82.43 per barrel.
Gold prices rose today, extending last week's large gains as inflation concerns lessened, with August-dated gold futures climbing 0.5% to $4,090.80 per ounce.
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