The Chicago Entrepreneur

U.S. stocks zigzag late Friday, but end mostly higher and book weekly gains

U.S. stocks zigzagged Friday to end mostly higher heading into the weekend after reports of a Saudi oil refinery attack pushed elevated crude prices higher. The three major equity also booked another week of gains. The Dow Jones Industrial Average advanced about 153 points, or 0.4%, ending near 34,861 Friday, but was up 0.3% for the week. The S&P 500 index advanced 0.5% for the session, while the Nasdaq Composite Index fell 0.2%. For the week, the S&P 500 rose 1.8% and the Nasdaq gained 2%, according to FactSet. Oil prices rebounded Friday after news reports of a missile strike on a Saudi Aramco facility, with the U.S. crude benchmark settling at $113.90 a barrel. Investors also continued to weigh the path higher for policy rates, with New York Federal Reserve President John Williams saying Friday he would support a half-point move if justified, but indicated it was premature to make a call on the size of a future rate increase.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Previous post Wisconsin senator urges Kohl’s to reject buyout offers that threaten jobs in retailer’s home state
Next post Oil futures finish higher after reports of an attack on a Saudi oil facility