US Market Indexes Lower on Friday

GuruFocus.com
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- By Julie Young

U.S. market indexes were lower on Friday. For the day, the Dow Jones Industrial Average closed at 20940.51 for a loss of -40.82 points or -0.19%. The S&P 500 closed at 2384.20 for a loss of -4.57 points or -0.19%. The Nasdaq Composite closed at 6047.61 for a loss of -1.33 points or -0.02%. The VIX Volatility Index was higher for the day at 10.77 for a gain of 0.41 points or 3.96%.


For the week, the Dow Jones gained 1.89%, the S&P 500 gained 1.50% and the Nasdaq Composite gained 2.31%. For the month, the Dow Jones gained 1.32%, the S&P 500 gained 0.90% and the Nasdaq Composite gained 2.29%.

Friday's market movers

Stocks gained for the week and the month. According to FactSet, approximately half of the companies in the S&P 500 have reported first-quarter earnings with approximately two-thirds of the companies beating estimates by an average of 5%.

Economic reports affecting trading included the following:

  • First quarter GDP reported a seasonally adjusted annual growth rate increase of 0.7% SAAR.

  • The Employment Cost Index increased 0.8% for the quarter and 2.4% for the year.

  • The University of Michigan's Consumer Sentiment Index decreased to 97 from 98.



In the Dow Jones Industrial Average, the following stocks led losses for the day:

Intel (INTC) -3.47%

Verizon (VZ) -1.63%

American Express (AXP) -1.34%

Goldman Sachs (GS) -0.89%

JPMorgan (JPM) -0.70%

In the broad market, financial stocks led losses. Technology stocks in the S&P 500 gained with the sector reporting an increase of 0.26%.

Small-cap stocks

In small-caps, the Russell 2000 Index closed at 1400.43 for a loss of -16.70 points or -1.18%. The S&P 600 Small-Cap Index closed at 851.36 for a loss of -10.48 points or -1.22%. The Dow Jones Small-Cap Growth TSM Index closed at 8378.68 for a loss of -76.94 points or -0.91%. The Dow Jones Small-Cap Value TSM Index closed at 9685.98 for a loss of -137.16 points or -1.40%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1732.76 for a loss of -16.65 points or -0.95%; the S&P 100 Index at 1054.86 for a loss of -0.41 points or -0.04%; the Russell 3000 Index at 1414.84 for a loss of -4.53 points or -0.32%; the Russell 1000 Index at 1322.44 for a loss of -3.28 points or -0.25%; and the Dow Jones U.S. Select Dividend Index at 655.46 for a loss of -4.96 points or -0.75%.

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This article first appeared on GuruFocus.


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