Wall Street bounced higher Friday, with U.S. markets closing out their best week of 2024 thanks to a slew of upbeat economic data. The Dow scored its fourth-straight daily win, locking in its best week since December. Snapping four-week losing streaks, the Nasdaq and S&P 500 both logged their seventh straight daily wins and best weeks since November. Elsewhere, the Cboe Volatility Index (VIX) marked four straight daily losses and suffered its worst weekly performance of 2024.

Oil Loses, Gold Wins the Week

Oil futures pulled back today, as investors worried over a potential strike by Iran on Israel. In response, September-dated West Texas Intermediate (WTI) crude lost $1.49, or 1.9%, to close at $76.67 a barrel for the session, dropping 0.2% for the week.

Gold prices scored fresh record highs, their 28th such settlement in 2024 thanks to investors seeking out the "safety" asset amid strong volatility. For the session, gold for December delivery added $40, or 1.6%, to settle at $2,532.40. The precious metal gained 2.4% for the week.

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