Nasdaq Secures Fifth-Straight Weekly Win
A strong jobs report once more sparked fears that the Federal Reserve may continue hiking interest rates. The anxiety sent the broader market lower for the day, though the Nasdaq and S& 500 Index both logged strong weekly wins -- the former its fifth straight thanks to an upbeat round of Big Tech earnings. The Dow, meanwhile, closed the week with a marginal loss.
GOLD, OIL TURN IN WEEKLY LOSSES
Oil futures slid once again Friday, and logged a modest weekly loss. For the session, March-dated crude fell $2.49, or 3.3%, to settle at $73.39 per barrel, and turned in a 7.9% loss on the week.
Gold prices breached the psychologically significant 1,900 level Friday, after a better-than-expected monthly jobs report boosted Treasury yields and strengthened the U.S. dollar. April-dated gold lost $54.20, or 2.8%, to settle at $1,876.60 per ounce for the day -- their lowest level since Jan. 10. On the week, the safe-haven asset lost 2.7%.
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