Stocks closed Friday mostly lower, burdened by rising oil prices and inflation expectations. The Dow secured its fifth in six sessions and the S&P 500 logged a significant loss, though both indexes finished the week higher. The Nasdaq shed triple digits Friday, ultimately closing the week modestly lower, while the Cboe Volatility Index (VIX) recorded its largest single-session pop since March 9.

SAFE-HAVEN ASSET RECLAIMS $1,900

Oil futures surged nearly 6% this week amid concerns that Israel is prepared to launch a ground invasion of Gaza, fears that were heightened after the Israeli government ordered the evacuation of over a million people from the strip. Today, crude for November delivery gained $4.78, or 5.8%, to settle at $87.69 per barrel.

Gold futures broke higher amid the rising geopolitical tensions as well, with bullion moving back above the key $1,900 level. For the session, December-dated gold added $58.50, or 3.1%, to settle at $1,941.50 an ounce, and jumped 5.2% this week. 

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