U.S. stock-market action next week is likely to take cues from the currency and commodities markets.
"The biggest driver we'll see in the market next week is the price of a barrel of oil," said Art Hogan, chief market strategist at Jefferies & Co.
"Unless we get some crazy M&A activity on Monday, the only monkey wrench I see is some skeleton falling out of some financial closet, or something heats up in Georgia," Hogan said, referring to Russia's recent military conflict with its former Soviet Republic neighbor.
On Friday, stocks ended mostly higher, with the major indexes scoring mixed results for the week, with the Dow Jones Industrial Average (DJI) ended up 43.97 points at 11,659.90, giving it a weekly loss of 0.6%.
The broader indexes had a like finish, with the S&P 500 (SPX) climbing 5.27 points to close at 1,298.19, leaving it virtually flat from the prior Friday's close. The Nasdaq Composite (RIXF) fell 1.15 points to end at 2,452.52, giving the index a weekly gain of 1.6%.
Last week saw crude futures dip more than 1%, with strength in the U.S. dollar and ongoing concerns over global oil demand pressuring prices. September crude finished at $113.77 a barrel, down $1.24, or 1.1%, for the session and off 1.2% for the week.
The dollar's rally extended to multiple-month highs , while metals futures were pounded, with gold for December delivery falling $22.40 to close at $792.10 an ounce, a weekly loss of 8.4%. .
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