Stocks Rise, Still Finish Volatile Week Lower

By Staff of Schaeffer's Research
Friday, August 9, 2024 4:52 PM EDT

Stocks finished the day higher, extending last session's impressive rally. It wasn't enough to recover from the global selloff earlier this week, however, with all three major indexes logging a weekly loss. For the S&P 500 and Nasdaq, it was their their fourth-straight week in the red. The VIX, meanwhile, finished the week lower despite its wild surge a few days ago. 

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Oil Breaks Weekly Losing Streak

Oil prices rose for the fourth consecutive day as recession fears eased. September-dated West Texas Intermediate (WTI) crude rose 65 cents, or 0.9%, to settle at $76.84 per barrel. For the week, U.S. crude rose 4.5%, snapping a four-week losing streak.

Gold fell sharply for the week following Monday's slide. For the day, December-dated gold futures held steady at $2,462. 

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