Stocks Finish Week Strong Despite Robust Labor Report
After a muted midday performance, Wall Street closed the week in style despite a stronger-than-expected jobs report that sent Treasury yields surging. The Dow pared early-morning losses to add 288 points. However, it wasn't enough to stop the blue-chip index from logging its third-straight weekly loss.
The Nasdaq also marked a triple-digit win --it's best since July 29 -- for a second consecutive week of gains. The S&P 500 logged its best single-session digit gain since Aug. 29 to snap a four-week losing streak and close above the key 4,300 level.
DEMAND WORRIES PUSH OIL PRICES LOWER THIS WEEK
Oil futures notched a modest gain Friday, but shed 8.8% for the week amid an increase in gasoline inventories. For the session, crude for November delivery added 48 cents, or 0.6%, to settle at $82.79 per barrel.
Gold prices snapped a nine-day losing streak today, but were pressured lower this week by U.S. jobs data and interest rate fears. December-dated gold gained $13.40, or 0.7%, to close at $1,845.20 an ounce on the day, but lost 1.5% over the last five days.
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