The Dow closed out the first week of August with a record close, climbing 144 points thanks to a better-than-expected jobs report. The S&P 500 also nabbed a record close, while the Nasdaq finished in the red as tech investors took profits amid a jump in the 10-year Treasury yield. For the week, all three major benchmarks turned in healthy wins. Elsewhere, the Cboe Volatility Index (VIX) logged its fourth-straight loss and lowest close since mid July, as well as its worst weekly performance since late June.
The Dow Jones Average (DJI - 35,208.51) rose 144.3 points or 0.4% for the day, and 0.8% for the week. Of the 30 Dow components, Goldman Sachs (GS) topped the list of winners today, adding 3.6%, while Amgen (AMGN) paced the laggards with a 1.6% dip.
The S&P 500 Index (SPX - 4,436.52) gained 7.4 points or 0.2% for the day. Meanwhile, the Nasdaq Composite (IXIC - 14,835.76) shed 59.4 points, or 0.4%, for the day. The benchmarks added 0.9% and 1.1%, respectively, for the week.
Lastly, the Cboe Volatility Index (VIX - 16.15) shed 1.1 points or 6.5%, for the day, and 11.1% for the week.
DEMAND CONCERNS SEND OIL PRICES LOWER
Oil finished out the week with a loss, and in fact turned in a steep weekly dip. Fuel demand woes amid increased coronavirus-related travel restrictions impacted black gold's appeal. As a result, September-dated crude fell 81 cents, or 1.2%, to settle at $68.28 a barrel for the day, and 4.6% for the week.
Bullion was also dragged lower today, with gold prices languishing beneath the pivotal $1,800 level thanks to a firmer U.S. dollar. On the week, the safe-haven metal turned in its worst week since mid-June. December-dated gold, the most active contract, shed $45.80, or 2.5%, to settle at $1,763.10 an ounce today, and 2.9% on the week.
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