Stocks finished the week on a high note after a weaker-than-expected July nonfarm payrolls report fueled hopes the Federal Reserve will keep interest rates steady. The Dow (DIA) and Nasdaq (QQQ) both added triple digits, while the S&P 500 (SPY) notched another record close. For the week, all three major benchmarks secured their second-straight weekly wins and marked their best weekly performances since April.
Gold Hits 7-Week High
Oil prices continued to rise as investors awaited updates on a reopening for the Strait of Hormuz. September-dated West Texas Intermediate (WTI) crude finished 1% higher to settle at $78.18 per barrel on the day, but fell over 7% for the week.
Gold prices surged to hit a seven-week high as Wall Street digested today's jobs data. August-dated gold futures added 2.3% to settle at $4,396.9 per ounce. For the week, gold charged roughly 7% higher.
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