Stocks closed out the week with a flourish, with all three benchmarks finishing near their session highs. The Dow added 152 points and a record close. The S&P 500 and Nasdaq secured record closes of their own, the former's seventh straight. Upbeat jobs data supplied the tailwinds today heading into the holiday weekend, while the Cboe Volatility Index closed at pre-pandemic levels for the first time ever. All three benchmarks secured comfortable weekly wins.
The Dow Jones Average (DJI - 34,786.35) gained 152.8 points or 0.4% for the day. Of the 30 Dow components, Microsoft (MSFT) saw the biggest jump, adding 2.2%, while IBM (IBM) fell to the bottom, shedding 4.6%. For the week, the Dow tacked on 1%.
Meanwhile, the S&P 500 Index (SPX - 4,352.34) rose 32.4 points or 0.8% on the day, and the Nasdaq Composite (IXIC - 14,639.33) tacked on 116.9 points or 0.8% for the day. The SPX added 1.7% on the week, while the Nasdaq scored a 1.9% weekly win.
Lastly, the Cboe Volatility Index (VIX - 15.07) lost 0.4 points or 2.7%. It lost 3.5% for the week.
OPEC+ MEETING STALEMATE STALLS OIL
Oil prices drifted cautiously lower, after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) meeting struggled to reach a deal on output production. August-dated crude shed seven cents, or 0.1%, to settle at $75.16 a barrel. For the week, black gold gained 1.5%.
Gold prices rose for the third-straight day, taking cues from a weakened dollar. August-dated gold added $6.50, or 0.4%, to settle at $1,783.30 an ounce. For the week, the safe-haven currency tacked on 0.4%.
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