The stock market enjoyed its second straight rally Friday,allowing the S&P 500 Index to post a modest loss of 1.7 for the week,while the Dow dropped 1.5 and the NASDAQ 1.0,respectively.For the year,however,the S&P has lost a more serious 6.27,and the CBOE VIX Volatility Index is up an astonishing 104.85.
Indeed,2 trillion dollars of wealth has been lost so far this month.All the same,Friday's trading volume was considerably more normal at about 1.2 billion shares versus around 3 billion shares earlier in the week.Some portfolios were able to return to the black after the two good days in a row.
The S&P futures gained 8.30 Friday evening,hinting at a positive Monday opening.Oil futures were down 0.34 to 85.38 a barrel,while gold futures dropped 8.90 to 1742.60 an ounce.Bond index futures were mostly higher.
At the PGA Championship at the Atlanta Athletic Club,Tiger Woods failed to make the cut for that event for the first time in his career,along with Graeme McDowell,Martin Kaymer and Darren Clarke,among other notable golfers who couldn't handle the course.His weekend,and indeed his season,is over.The PGA Tour Playoffs will begin in a few weeks' time for those who do qualify.
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