Stocks were a mixed bag Friday. The Dow logged its seventh consecutive daily loss and a weekly drop, while the S&P 500 snapped a three-week winning streak. Elsewhere, the Nasdaq finished the week higher, the only index to do so thanks to Broadcom (AVGO) crossing the $1 trillion market cap.

With inflation data in the rearview mirror, Wall Street turned its eyes towards the Federal Reserve's upcoming interest rate decision. According to the CME FedWatch tool, there's a 97% chance that the central bank will cut interest rates at its meeting next week.  

OIL POSTS BIGGEST WEEKLY GAIN IN THREE WEEKS

Oil prices turned in a 5.7% weekly win, their largest weekly pop in three weeks despite a supply surplus forecast at the International Energy Agency (IEA). Black gold also climbed for the session, with February-dated West Texas Intermediate (WTI) crude adding 85 cents, or 1.6%, to settle at $71.11 per barrel.

Gold prices fell Friday, but turned in a win on the week as investors anticipated the Fed's interest rate cut next week. For the session, gold for December delivery lost 1.1% to settle at $2,678.50 an ounce, but popped 1% this week.

More By This Author:

Stocks Pull Back, Head For Weekly Losses
Dow Stumbles Again, Stuck In Worst Rut Since April
Stocks Struggle For Gains After Inflation Report