Stocks finished lower Friday, as traders reacted to August's hotter-than-expected jobs report, which more than tripled analysts' estimates. In response, the two-year Treasury yield resumed its climb to pressure equities, earlier reaching its highest level since January 2025. The Dow suffered the steepest decline, falling more than 200 points to finish the first week of September in the red. Meanwhile, the tech-heavy Nasdaq and S&P 500 posted more modest losses, though both still secured their second straight weekly gains.
Gold, Oil Mixed to End Week
Oil prices pulled back Friday while middle east tensions rose over supply risk concerns. Front-month WTI crude added 0.2% to settle at $91.48 per barrel on today's session. Black gold locked in a 9.7% weekly gain, its sharpest rally since July 13.
Gold fell as well after a hotter-than-anticipated nonfarm payrolls report sparked concerns about an interest rate hike in the near future. December gold futures shed 2.4% to finish at $4,428.80 per ounce and dropped 1.3% for the week.
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