After dramatic dips and spikes that brought the S&P 500 to its lowest level since October 2014, all three major Americanindicesendedthe week with modest gains. According to managing director of trading and derivatives for Charles Schwab in Austin, TX, Randy Frederick, investors spent mostof Friday recalibrating their portfolios before heading into the weekend.
Fears overChina and uncertaintyin the global market have many on Wall Street banking onthe Fed delaying a rate increase until the climateis more stable. According to analysts, traders estimate that there is a 35 percent chance thatthe Fed will hike rates in September. Earlier in the week, estimates ofthe probability were closer to 22 percent.
The Dow Jones industrial average ended the weekdown 0.07 percent at 16,643.01, and the S&P500 increased0.06 percent to 1,988.87. The Nasdaq reported0.32 percent gains to finishat 4,828.33, dueto a 2.52 percent increase in Intel Corp.
A number of American companies performed well over the week, but trading volume has remainedlight. Nearly 7.8 billion shares were traded on United Statesexchanges, comparedto a global average of 11.2 billion over the last five days.