August 6, 2018
Amid a dearth of economic data, strong second-quarter company earnings growth overshadowed escalating trade tensions between China and U.S., pushing the Dow up 0.16 percent to a close of 25,502.18, the S&P 500 index up 0.35 percent to 2,850.40, and the Nasdaq up 0.61 percent to 7,859.68. Interest rates edged slightly lower from Friday's levels, with the 2-year at 2.65 percent and the 10-year at 2.94 percent, pulled down by an employment report that was less robust than expected. Oil prices rose 39 cents to $68.9 per barrel, boosted by supply concerns following Friday's report of output cuts by Saudi Arabia and by today's announcement of the reimposition of the first round of Iran sanctions. The dollar Index was up 0.21 to 95.37, helping to push down the price of gold by 7.6 dollars to $1,215.60.