The markets ended mixed today as commodities fell across the board, leaving traders unsure of the larger ramifications for the economy, MarketWatch reports. The Dow gained 43.97 points to close at 11,659.90, the Nasdaq slid 1.15 points to 2,452,52, and the S&P 500 climbed 5.27 points to 1,298.20.
Shares of everything from oil to wheat to gold were down. Traditionally, a big drop in commodities benefits companies because their production costs drop. But within the last year energy producers have moved to occupy a greater percentage of the Dow and S&P 500 than ever before, so the indices feel commodity shocks dearly. In economic news, the Fed said that factory output climbed 0.4% in July.
- For the week, the Dow fell 0.6%, the Nasdaq 1.15%, and the S&P 500 was up 0.1%.