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 August 11, 2017 - 4:30 PM EDT
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Stocks End Second-Worst Week of the Year

Stocks End Second-Worst Week of the Year

U.S. equities edged higher on Friday as investors weighed tensions between the U.S. and North Korea heading into the weekend.

The Dow Jones Industrials finished in the green 14.31 points to 21,858.32, after briefly dipping into negatively territory, with Apple contributing the most gains. The Dow closed out its second-worst weekly performance of the year.

The S&P 500 regained 3.11 points to 2,441.32, with information technology rising 0.8% to lead advancers. The index also posted its second-worst weekly performance of the year, falling 1.4% for the week, the most since the week of March 24.

The NASDAQ recovered 39.68 points to 6,256.56, as large-cap tech stocks rebounded. The index posted its third-worst weekly performance of the year.

Before this week, U.S. stocks have been hitting record highs, boosted by mostly stronger-than-expected earnings.

Snap, however, did not beat expectations. The social media company posted a larger-than-expected loss and smaller-than-expected revenue, sending the stock down more than 14%

J.C. Penney's stock also fell sharply Friday after the struggling retailer turned in a mixed second-quarter report that included a greater-than-expected loss in earnings. The stock fell over 17% Friday.

Graphics chipmaker Nvidia saw its stock fall 5% after reporting stronger-than-expected earnings. Though one of the best-performing stocks in the entire market, investors were disappointed by its slow growth in its unit that serves artificial intelligence applications.

In economic tidings, the U.S. Labor Department said on Friday the Consumer Price Index edged up 0.1% last month, versus expectations of a 0.2% gain.

Prices for the benchmark 10-year Treasury note fell slightly back, raising yields to 2.19% from Thursday's 2.2%. Treasury prices and yields move in opposite directions.

Oil prices recaptured 18 cents to $48.77 U.S. a barrel

Gold prices gained $6.60 to $1,296.70 U.S. an ounce.


Source: Livemoney US Market Commentary (August 11, 2017 - 4:30 PM EDT)

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