Stocks
Dow Surges Over 500 Points But Still Posts Weekly Loss
The Dow Jones index surged over 500 points on Friday, closing at 53,277.01, but despite this gain, all major indices recorded losses last week. The S&P 500 fell 1.4% and the Nasdaq lost 2%, ending three-week winning streaks.
The CNN Money Fear and Greed index showed an improvement in overall market sentiment, remaining in the 'Neutral' zone at a reading of 55. This is up from the prior week's reading of 53.
On the economic data front, S&P Global's flash composite PMI jumped to 56.0 in August from 54.5, with services surging to 56.8 versus 54.0 expected.