The Dow Jones Industrial Average climbed 1.5% in August to finish higher for a second straight month. The August gains totaled 1.2% for the S&P 500, 1.8% for the Nasdaq Composite Index, and 3.5% for the Russell 2000 index. The Nasdaq and the Russell have rallied over five of the past six months.
But that momentum has begun to flail as oil's pullback stalls near $115 a barrel, and it remains to be seen if stocks can advance without the greasing of receding oil. The Dow had its third straight weekly loss, ending last week down 85, or 0.7%, to 11,544. The S&P 500 retreated for a second straight week, falling 9, or 0.7%, to 1283. The Nasdaq fell 47, or 2%, to 2368, while the Russell 2000 eked out a rise of 2, or 0.3%, to 740.
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