Stocks Log Record Closes as Dow Clears 47K

Stocks stuck the landing today, finishing strong into the weekend. The Dow closed above 47,000 for the first time ever this afternoon, while the S&P 500 and Nasdaq scored record closes of their own.

Cooler-than-expected consumer price index (CPI) data ushered sentiment higher today, as investors looked to push aside U.S. trade tensions with China and Canada. For the week, all three benchmarks saw healthy gains, while the Cboe Volatility Index (VIX) marked its lowest close since Oct. 8 and worst week since August.

Gold Logs 1st Weekly Drop in 10

Crude managed a weekly gain as Russian supply concerns persisted. The black gold inched lower for the session, however, December-dated West Texas Intermediate (WTI) falling 0.3%, or 17 cents, to settle at $61.62 per barrel. For the week, oil added around 7%.

Gold brushed off today's inflation news, continuing into its first weekly drop in 10. December-dated gold futures fell 0.2%, to close at $4,137.80 per ounce on the day and 3% for the week.