Stocks closed out the holiday-shortened week with the same volatility we've seen since Monday. Today, optimism from this morning's jobs report battled with a stubborn tech sector, which resulted in choppy trading into the closing bell. Nevertheless, the Dow continued to outperform, adding 594 points for a record close. The S&P 500 finished marginally lower, while semiconductor weakness dinged the Nasdaq 207 points. Despite the whipsaw price action, all three major indexes nabbed weekly wins, while the Russell 2000 Index (RUT) slipped below 3,000 and into the red for the week.
Oil Logs 4th-Straight Weekly Loss, Gold Keeps 4K
Oil prices are flat going into the long weekend. August-dated West Texas Intermediate (WTI) added 11 cents, or 0.2% to finish at $68.69/barrel. Black gold logged its fourth-straight weekly loss, falling 4.2%.
Gold futures gained after jobs data satisfied the appeal for safe-haven assets. August-dated gold futures added 1.2%, to settle at $4,103.10/oz for the session. Gold is up 2.3% for the week, building some separation between $4,000.
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