Wall Street wrapped up the week on a high note, with the Dow rising 206 points, the Nasdaq notching another record close, and the S&P 500 settling within a hair of its own closing high. All three major indexes logged their biggest weekly wins in over a month, with help from Big Tech, especially Apple's (AAPL) U.S. manufacturing investment and subsequent stock rally.

Meanwhile, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), suffered its largest weekly percentage drop since November 2024. Next week, investors will be watching for key inflation data on Tuesday and Thursday, as well as another batch of corporate earnings reports. 

WHITE HOUSE TO ISSUE CLARIFICATION ON GOLD TARIFFS

Oil prices inched lower once again ahead of the meeting between President Trump and Russian President Vladimir Putin. September-dated West Texas Intermediate (WTI) fell 49 cents, or 0.8%, to settle at $63.39 per barrel. For the week, black gold lost 5.9%. 

Gold prices earlier hit a record high of $3,534.20, after reports that the U.S. would impose tariffs on imported 1-kg gold bars, but pared gains after the White House said it will "clarify misinformation" regarding gold tariffs. August-dated gold futures were last seen up 1.1% at $3,463.50 per ounce, finishing the week up 2.7%. 

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