The S&P 500 and Nasdaq both finished the day with modest gains
Recently renewed tensions between the U.S. and China kept the Dow at bay for most of today's trading session, and the blue chip index finally settled with a shallow loss, off less than nine points on Friday. Meanwhile, the S&P 500 and Nasdaq were able to climb modestly higher, as optimism over a potential coronavirus vaccine helped keep some of these losses in check. Despite the lukewarm sentiment Wall Street saw today, all three indexes managed to clock impressive weekly wins, each locking in gains of over 3% by the close.
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The Dow Jones Industrial Average (DJI - 24,465.16) lost nearly 9 points, or 0.04% for the day, but added 3.3% for the week. Half of the 30 members finished higher, with United Health (UNH) leading the charge on a 1% pop, while Chevron (CVX) slid to the bottom of the index on a 1.9% dip.
The S&P 500 Index (SPX - 2,955.451) ended 6.9 points, or 0.2% higher, while the Nasdaq Composite (IXIC - 9,324.59) ended 39.7 points, or 0.4%, higher. The former was up 3.2% for the week, and the latter saw a 3.4% weekly pop.
The Cboe Volatility Index (VIX - 28.16) dropped 1.4 points or 4.6% on Friday, and finished the week down 11.7%.
Data courtesy of Trade-Alert
Oil futures fell back on Friday as geopolitical tensions raised concerns over demand, though the commodity wound up grabbing a win for the week. July-dated crude fell 67 cents, or 2%, to settle at $33.25 a barrel, but added almost 13% for the week.
Gold futures settled higher today as tensions between the U.S. and China had some nervous investors turning back to the safe-haven commodity. However, the overall economic optimism that has returned to Wall Street sent the precious metal towards a weekly loss. Gold for June delivery settled up $13.60, or 0.8% to $1,735.50 an ounce.