Dow Jones finishes higher, but Nasdaq posts largest weekly loss since March

Most of the US stock indices closed higher on Friday, as investors shrugged off uncertainty about the ongoing debate in the US Congress on the second coronavirus relief package, while sell-off on tech stocks continued, which costed Nasdaq the largest weekly losses since March.

Data showed today that the US consumer price index rose 0.4% in August, beating analysts' estimates of 0.3%.

The US Senate failed to agree on the second relief package bill to address the coronavirus impact on the economy.

The next US presidential election draw near between the current Republican President Donald Trump and the Democratic candidate Joe Biden, which is due to take place in November.

To the oil market, WTI crude September futures at NYMEX rose 0.1% to close at $37.33 a barrel, and posted a weekly loss of 6.1%, after hitting a day high of $37.8 and a low of $36.6.

Brent October futures fell 0.6% to $39.83 a barrel, and posted weekly loss of 6.6%, with a high of $40.3 and a low of $39.3.

As for stocks, Dow Jones rose 0.5% or 131 points to settle at 27,665, but posted weekly losses of 1.7%, with a session-high of 27,828 and a low of 27,448.

S&P 500 rose 0.1% or 1.5 point to close at 3,341, with 2.5% weekly loss, and hit a high of 3,368 and a low of 3,310.

Nasdaq fell 0.6% or 66 points to 10,853, and posted the largest weekly loss since March 12 of 4.1%, a high of 11,033 and a low of 10,728.