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Hi. I'm Tracey Fitzpatrick. Welcome to the 'Weekly Market Wrap' for July 11, 2014.

The Dow Jones Industrial Average and NASDAQ Composite are both lower for the week, while the S&P 500 is currently higher for the period.

Crude oil futures are lower this week, trading at $100.66 per barrel on Friday afternoon.

And Gold futures are higher for the week, trading at $1337.72 an ounce.

In economic news, in the week ending July 5, the advance figure for seasonally adjusted initial claims was 304,000, a decrease of 11,000 from the previous week's unrevised level of 315,000. The 4-week moving average was 311,500, a decrease of 3,500 from the previous week's unrevised average of 315,000. There were no special factors impacting this week's initial claims.

The advance seasonally adjusted insured unemployment rate was 2.0 percent for the week ending June 28, unchanged from the previous week's unrevised rate.

The U.S. Census Bureau announced that May 2014 sales of merchant wholesalers, except manufacturers' sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $453.2 billion, up 0.7 percent from the revised April level and were up 6.6 percent from the May 2013 level.

The April preliminary estimate was virtually unchanged. May sales of durable goods were up 0.2 percent from last month and were up 5.9 percent from a year ago.

In highlights of corporate dividend news, Occidental Petroleum (NYSE:OXY) has declared a regular quarterly dividend of $.72 per share on common stock payable on October 15, 2014, to stockholders of record as of September 10, 2014.

Thermo Fisher Scientific (NYSE:TMO) has declared a quarterly cash dividend of $0.15 per share. The dividend will be paid on October 15, 2014, to shareholders of record as of September 15, 2014.

CVS Caremark (NYSE:CVS) has approved a quarterly dividend of $0.275 (27.5 cents) per share on the corporation's common stock. The dividend is payable on August 1, 2014, to holders of record on July 21, 2014.

Ford Motor Company declared a third quarter dividend of $0.125 per share on the company's outstanding Class B and common stock. The third quarter dividend is payable on Sept. 2, 2014 to shareholders of record on Aug. 1, 2014.

ConocoPhillips (NYSE:COP) has raised the company's quarterly dividend to 73 cents per share, an increase of 5.8 percent. This marks ConocoPhillips' second dividend increase since the company separated its downstream operations in May 2012 to become the world's largest independent E&P company based on production and proved reserves.

The board of directors of Phillips 66 (NYSE:PSX) has declared a quarterly dividend of 50 cents per share on Phillips 66 common stock. The dividend is payable on Sept. 2, 2014, to shareholders of record at the close of business on Aug. 15, 2014.

CSX (NYSE:CSX) approved a $0.16 per share quarterly dividend on the company's common stock. The dividend is payable on September 15, 2014, to shareholders of record at the close of business on August 29, 2014.

This is the 'Weekly Market Wrap' for Friday, July 11, 2014. Please join us on Monday for the Week Ahead Market Report.

For MarketNewsVideo.com, I'm Tracey Fitzpatrick.