Oil Hits One-Month Low

The major averages trending lower today on weaker conviction as volume was 12.3%  below the one-month average and the lowest volume day this week.

As we head into Friday, the Dow is down 0.6%. If these losses hold, this will be the second weekly loss in a row, which hasn't happened for more than two months.

One notable index to watch is the Russell 2000, which is up almost a full point this week. If the small-cap index closes higher, this will be its fourth straight weekly win, its longest in three months.

And, while oil closed higher today, the commodity did hit a one-month low today. Crude is down 2.94% so far this week. If it does close lower, it will snap a 10-week winning streak, its longest since crude started trading in 1983.