Wall Street was a mixed bag today as rate-cut optimism wore off, though all three major indexes still scored their second consecutive winning week. The Dow rallied in the final hour of trading to score a solid win and staying above the key 42,000 level. The S&P 500 and Nasdaq finished the session just below breakeven, while the Cboe Volatility Index (VIX) fell for the day and turned in its second-straight weekly loss.
GOLD, OIL ENJOY RATE CUT OPTIMISM
Oil prices remained steady today, turning in their second straight weekly win amid support from the Fed’s rate cut and falling U.S. supply. October-dated West Texas Intermediate (WTI) crude shed 22 cents cents, or 0.3%, to close at $71.73 a barrel, and rose roughly 4% for the week.Gold prices also stayed elevated, buoyed by bets that the Fed would issue more interest rate cuts in the near term. Gold for December delivery added 1% to close the session at $2,644.60.More By This Author:Dow Surges Over 500 Points For Record Close
Dow, SPX Score Record Highs On Heels Of Rate Cut
Dow, S&P 500 Erase Gains Despite Robust Rate Cut
