Tech helps Wall Street close out 4th straight winning month

Wall Street's rally fizzles as oil prices suddenly plunge
Posted at 10:51 AM, Aug 01, 2020
and last updated 2020-08-01 13:51:16-04

NEW YORK (AP) — Strong gains for some of the market’s most influential companies helped Wall Street close out its fourth straight winning month.

The S&P 500 rose 25 points on Friday following blowout profit reports from Apple and several other tech titans. The Dow Jones Industrial Average gained 115 and the Nasdaq composite jumped 158.

Despite the gains, caution was clearly present across markets as the coronavirus pandemic continues to cloud the economy’s prospects.

The 10-year Treasury yield touched its lowest level since it dropped to a record low in March. Gold also continued its record-setting run as investors searched for safety.