The Dow finished August in style, logging its fourth record close in the last five days. The blue-chip index -- along with the S&P 500 -- closed out the week in the black while both indexes also secured their fourth-straight monthly win. The Nasdaq picked up a win for August as well, but despite a triple-digit pop today, the tech-heavy index closed in the red for the week.

Investor anxieties were soothed today by the Fed's preferred inflation gauge that was in line with expectations. That reading, paired with upbeat economic data from earlier in the week, boosted confidence regarding consumer spending and overall economic growth. 

Black Gold Takes a Hit in August

Oil prices were sharply lower on Friday, weighed down by concerns over weaker demand. For the session, October-dated West Texas Intermediate (WTI) crude lost $2.36, or 3.1%, to close at $73.55 per barrel. For the week, the front-month contract lost 1.7%, while shedding 5.6% for the month. 

Gold prices fell Friday, dragged by a firmer dollar and Treasury yield market. Gold for December delivery was last seen 0.9% lower at $2,536.40, but gained roughly 2% for the month after multiple record highs over the course of the week.

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