The S&P 500 and Nasdaq pulled back from their early gains but still secured their third-straight weekly wins. The Dow continued to lag, however, logging its fourth loss in five sessions and finishing the week in the red. Per the University of Michigan, consumer confidence slid to 51.0 in August, below the July reading of 55.2. This represented a roughly 8% fall, though expectations for the coming year rose to 4.3%. Meanwhile, retail sales fell 0.6% last month, missing expectations of a 0.1% rise.
Gold, Oil Futures Log Weekly Wins
Comments from the U.S. that it would continue its blockade toward Iran's ports sent crude prices higher. September-dated West Texas Intermediate (WTI) oil added 37 cents to settle at $81.62 per barrel for Friday, climbing 4% over the past week.
Gold futures resumed their climb after yesterday's bout of profit taking, with added influence stemming from a weakening greenback. August-dated gold futures rose 0.4% to settle at $4,437.30 for the day, and added 1% for the week.
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