Dow Logs Longest Losing Streak Since June

The Dow stumbled into the weekend with another loss -- its fifth straight -- for the index's longest losing streak since mid-July. The S&P 500 and Nasdaq also finished in the red, marking the former's fifth straight drop as well, thanks to looming economic uncertainty wrought by the latest inflation data. All three indexes turned in sizable weekly losses, while Wall Street's "fear gauge," the Cboe Volatility Index (VIX), closed at its highest level in nearly a month.

The Dow Jones Average (DJI - 34,607.72) fell 271.7 points or 0.8%. Of the 30 Dow components, seven finished higher, with Intel (INTC) leading the charge with a 0.8% jump, while Apple (AAPL) fell to the bottom, shedding 3.3%. For the week, the Dow lost 2.2%, marking its biggest weekly loss since mid-June.

The S&P 500 Index (SPX- 4,458.58) lost 34.7 points or 0.8%, while the Nasdaq Composite (IXIC - 15,115.49) shed 132.8 points, or 0.9%. The indexes lost 1.7% and 1.6%, respectively, this week.

Lastly, the Cboe Volatility Index (VIX - 20.95) added 2.2 points or 11.4%. and 27.7% on the week.

closing index summary sept 10

nyse and nasdaq sept 10

earnings sept 10

uvol sept 10


Thanks to growing signs of supply tightness following Hurricane Ida, oil prices rose to close out the week. Black gold was also boosted along with other riskier assets, as the U.S. and China talked trading the latter country's oil reserves. As a result, October-dated crude fell $1.58, or 2.3%, to settle at $69.72 a barrel for the day and 0.6% this week.

Gold also moved lower as investors eyed the Federal Reserve's future moves and the mystery surrounding their plans to taper economic support, while the U.S. dollar strengthened slightly. In response, December-dated gold dropped $7.90, or 0.4%, to settle at $1,792.10 an ounce today and over 2.3% for the week. It was gold's first weekly loss in five weeks.

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