The major indexes managed to finish strong, each securing a third-straight daily win while simultaneously snapping three-week losing streaks -- brushing off interest rate concerns and comments from Federal Reserve Chairman Jerome Powell. Both the Dow and Nasdaq closed up triple digits, while the S&P 500 finished firmly in the black as well. Wall Street's "fear gauge," the Cboe Volatility Index (VIX) logged its worst week since late June.
The Dow Jones Average (DJI - 32,151.71) added 377.2 points, or 1.2% for the day, and 2.7% for the week. Salesforce.com (CRM) paced the winners with a 3.6% rise, while UnitedHealth Group (UNH) landed at the bottom of the list with a slim 0.3% drop.
The S&P 500 Index (SPX - 4,067.36) tacked on 61.2 points, or 1.5% for the day, and 3.7% for the week. Meanwhile, the Nasdaq Composite (IXIC - 12,112.31) added 250.2 points, or 2.1% for the day, and 4.1% for the week.
Lastly, the Cboe Volatility Index (VIX - 22.79) shed 0.8 points, or 3.5% for today's session, dropping 10.5% for the week.
OIL PRICES POST SMALL WEEKLY LOSS
Oil prices climbed for the second day as supply concerns loom. October-dated crude rose $3.25, or 3.9%, to settle at $86.79 per barrel on the New York Mercantile Exchange. For the week, the front-month contract inched 0.1% lower.
Gold futures rose today as the U.S. dollar retreated from a 20-year high. December-dated gold added $8.40, or 0.5% settling at $1,728.60 per ounce for the day, and gained roughly 0.4% for the week.
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