Wall Street up modestly, but posts weekly loss
Main U.S. indexes end green: S&P 500 closes up ~0.5%
Comm Svcs leads S&P 500 sector gainers; Materials sole loser
Dollar slips; gold edges up; crude up ~1%; bitcoin up ~2%
U.S. 10-Year Treasury yield falls to ~3.94%
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WALL STREET UP MODESTLY, BUT POSTS WEEKLY LOSSES
Wall Street ended with marginal gains on Friday in choppy trading, but with all three main indexes posting weekly losses, as investors remained cautious about U.S. prospects and fearful that world's largest economy could tip into recession.
The communication services sector .SPLRCL led all gainers among S&P 500 .SPX sectors, even as the benchmark index and the Nasdaq .IXIC had their fourth straight week of declines. Their losses for the week though were modest.
The Cboe Volatility Index .VIX, meanwhile, Wall Street's "fear gauge", was down after surging to 65.73 at the start of the week.
Investors are focused on next week's data on U.S. consumer prices and retail sales for July, which should provide fresh guidance on where the economy is, including the size of rate cuts next month, and the depth of the Federal Reserve's looming easing cycle.
Here's a snapshot of where different asset classes stand at the market's close at 1600 EDT:
(Gertrude Chavez-Dreyfuss)
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FOR FRIDAY'S EARLIER LIVE MARKETS POSTS:
US SOFT LANDING NOT A LONG SHOT - CLICK HERE
TECH STOCKS ARE ATTRACTIVE AGAIN, DESERVES UPGRADE TO 'OVERWEIGHT, - TRUIST'S LERNER - CLICK HERE
INDIVIDUAL INVESTOR BEARS DANCE TO A 9-MONTH HIGH - AAII - CLICK HERE
WALL STREET MIXED, BUT ON PACE FOR WEEKLY LOSSES - CLICK HERE
S&P 500 INDEX: WHIPLASH - CLICK HERE
AI RALLY'S FIRST SETBACK "OVERDUE" - DWS CIO - CLICK HERE
STOXX 600 SET FOR FURTHER 10% DRAWDOWN - BOFA - CLICK HERE
EUROPEAN SHARES TURN POSITIVE FOR THE WEEK - CLICK HERE
EUROPEAN STOCK FUTURES EDGE UP - CLICK HERE
TURBULENT WEEK ENDING ON A HIGH -CLICK HERE
US closing market snapshot https://tmsnrt.rs/46Dre6B
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