Stocks Closed Higher for the Week and July

U.S. stocks closed mildly lower on Friday, as investors digested energy earnings misses and soft data that could push an initial rate hike further out. The Dow Jones Industrial Average slipped 56.12 points, or 0.32%, to 17,689.86, but ended the week with a gains of 0.7% and booked a 0.4% gain over the month. The S&P 500 was down 4.79 points, or 0.23%, to 2,103.84. The weekly gain for the benchmark stood at 1.2%, while it booked a 2% gain over the month. The Nasdaq Composite was off 0.50 point, or 0.01%, to 5,218.28. The tech-heavy index rose 0.8% over the week and 2.9% over the month.

U.S. Federal Reserve chief Janet Yellen has made it clear she’s looking out for “some” improvement in the job market before voting for the first Fed interest rate rise in nearly a decade.

Crude-oil futures closed lower Friday, with West Texas Intermediate crude for September delivery giving up $1.40, or roughly 2.9%, to settle at $47.12 a barrel.

Exxon Mobil and Chevron on Friday posted their worst quarterly results of the current decade as oil and natural gas prices continued to plunge.


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