The Fed's favorite inflation gauge, the core PCE, was in-line with expectations, but Wall Street still turned in a lackluster session. While the Dow managed to snap a three-day losing streak with its best single-session pop of 2024, it closed the week lower. The Nasdaq and S&P 500 both turned in their first weekly loss in six after investors took to profit-taking amid higher Treasury yields. For the month, all three benchmarks settled higher after a downtrodden April performance. 

OIL PRICES POST THE BIGGEST MONTHLY DECLINE OF THE YEAR

Oil futures fell Friday and marked their largest monthly decline of 2024 ahead of a meeting from the Organization of the Petroleum Exporting Countries and its allies (OPEC+). For the day, July-dated West Intermediate (WTI) crude lost 92 cents, or 1.2%, at $76.99 a barrel for the session.

Gold futures also dropped, as investors parsed today's inflation report. For the session, June-dated gold shed 0.9% at $2,346.40 per ounce; however, bullion gained 1.8% for the month.

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