U.S. equity markets rose for a third straight day on Friday, snapping a three-week losing streak for the major averages. It was a broad-based advance, with all but six of the Dow’s constituents posting gains.
For the week, the Dow closed 2.7% higher, the S&P 500 added 3.7%, while the Nasdaq gained over 4%. rose to their highest levels since mid-June, with the yield on the 10-year note briefly rising above 3.35% on Tuesday, before closing the week at 3.32%. Crude oil prices fell to their lowest level since January earlier this week, but rose on Friday as Russian President Vladimir Putin threatened to cut supplies.
The price of crude briefly fell below $82 per barrel on Wednesday, before rebounding to $86 per barrel on Friday.
Next week, we can expect an eventful week of economic reports in the U.S. and abroad. On Tuesday, the Labor Department’s will offer the latest update on consumer. The will follow on Wednesday. On Thursday, August figures will be released, along with updates on the strength of the industrial and manufacturing sectors.