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Stocks Posted Fourth Straight Monthly Gains

-- Friday, July 31, 2020, 16:22 --

U.S. stocks ended higher on Friday and posted gains for July, with the Nasdaq outperforming after a slew of better than expected corporate earnings results from major tech firms. The Dow Jones Industrial Average rose 114.67 points, or 0.44%, to 26,428.32. The S&P 500 added 24.90 points, or 0.77%, to 3,271.12. The Nasdaq Composite advanced 157.46 points, or 1.49%, to 10,745.27. For the month, the Dow rose 2.4%, the S&P 500 advanced 5.5% and the Nasdaq Composite gained 6.8%.

Oil futures ended higher Friday, logging a monthly gain, as investors weighed an uncertain demand outlook and an expected rise in supplies as major producers relax output curbs. West Texas Intermediate crude for September delivery rose 35 cents, or 0.9%, to close at $40.27 a barrel, while October Brent crude added 27 cents, or 0.6%, to finish at $43.52 a barrel. WTI logged a monthly rise of around 2.6%, while Brent rose more than 5% for July.

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