Stocks finished two weeks of somersaults Friday, heading into the weekend on an up note as investors displayed ambivalence over the reopening of the U.S. economy after weeks ofThe Dow Jones industrial average closed Friday at 23,685.42, up 60 points or a 0.3 percent. The blue chips finished the week 2.6 percent lower than it started. The Standard & Poor’s 500 index settled at 2,863.70, up nearly 0.4 percent on the day. The broad market finished down 2.2 percent for the week.
Despite market jitters, the Dow and S&P 500 are up roughly 28 percent from their late March lows and the Nasdaq has advanced 31 percent. All three indexes are well off their all-time highs. Oil prices continue to recover as more drivers take to the road and producers trim output. West Texas Intermediate, the U.S. benchmark, climbed nearly 8 percent Friday to $29.67 per barrel. That’s nearly three times the price that WTI was selling for three weeks ago. Brent crude, the international benchmark, was up more than 5 percent at $32.74 per barrel.The week was full of the ups and downs as the nation feels its way through the pandemic. Dr. Anthony S.
Wall Street investment chatter during the week further shows the divergence of opinion on the economy and the prospects for defeating the coronavirus. Billionaire investors Stanley Druckenmiller of the Duquesne Family Office and David Tepper of Appaloosa Management in separate interviews expressed doubts about the near-term economy and investment opportunities.
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