The Closing Bell 🔔

⬆️ The Dow closed up 30 points and the Nasdaq ended its four-week losing streak.

Photo: Getty Images.

Federal Reserve Chair Janet Yellen defended bank regulations while speaking at a conference in Jackson Hole. She said the regulations, which President Trump has criticized, made banks “safer” following the 2008 financial crisis. The only thing missing in her speech? A clear idea on where monetary policy is heading.

Meanwhile, the list of sanctions against Venezuela is growing. On Friday, President Trump signed a new executive order barring citizens and banks from buying bonds from Venezuela.

Hurricane Harvey could knock the Texas economy off its feet after it rips through the state. Texas is home to a cluster of important oil and gas facilities with drivers already bracing for gas price hikes. The hurricane has been upgraded to Category 3.

Other market items:

• Macron spends $30,000 on makeup as policies stall (CNNMoney)
• These European cities are fed up with tourists (CNNMoney)
• Gold is shaken by a mysterious 2 million-ounce trade (Bloomberg)