Stock Market Today: Dow ends lower but still logs fifth month of gains; Nasdaq and S&P 500 gain in August despite Brent oil above $90 and 30-year yields at 5.25%
U.S. stocks closed mixed Friday as the Dow fell while the Nasdaq and S&P 500 edged higher, capping a winning August despite pressure from surging oil and Treasury yields. Brent crude climbed above $90 per barrel and the 30-year Treasury yield touched 5.25%, while the 10-year yield reached 4.75%. Rising tensions involving Iran added to end-of-month volatility.
All three major indexes posted their fifth consecutive monthly gain. The Dow's decline on the session contrasted with modest advances in the Nasdaq and S&P 500, which shrugged off the yield and energy headwinds. The moves came as traders weighed geopolitical risks in the Middle East against a string of positive months for equities.
The climb in longer-dated Treasury yields reflects rising concerns about inflation persistence, particularly as crude oil holds above the psychologically significant $90 level. Higher yields typically pressure growth-oriented stocks by making future earnings less valuable in present terms, though technology shares held firm Friday.