The Dow Jones Industrial Average closed at 26,154.67 on Friday with a gain of 8.68 points or 0.03%. The S&P 500 closed at 2,904.98 for a gain of 0.80 points or 0.03%. The Nasdaq Composite closed at 8,010.04 for a loss of -3.67 points or -0.05%. The VIX Volatility Index was lower at 12.07 for a loss of -0.30 points or -2.43%.
For the week, the Dow Jones gained 0.9%, the S&P 500 returned 1.2% and the Nasdaq Composite had a gain of 1.4%. Year to date, the Nasdaq Composite has a gain of 16.47%, the S&P 500 has gained 9.91% and the Dow Jones has gained 7.22%.
Friday’s market movers
U.S. market indexes gained on Friday, but saw resistance after news that President Trump would like to proceed with the next round of tariff action despite proposals to further negotiate with China. Meanwhile, the U.S. and Canada continued their trade negotiations with no final agreement reached at the end of the week.
Tech stocks were lower Friday while the financial, energy and industrial sectors led gains. Top contributors for the day included Invitae (NVTA, Financial) and Principia Biopharma (PRNB, Financial). Top detractors included China Rapid Finance (XRF, Financial) and Apple (AAPL, Financial).
Economic reports affecting market trading included the following:
- Retail sales increased 0.1% for the month, slightly below consensus of 0.4%.
- Import and export price data was released. Import prices decreased -0.6% for the month and increased 3.7% for the year. Export prices decreased -0.1% for the month and increased 3.6% for the year.
- Industrial production reported a monthly increase of 0.4%.
- Business inventories increased 0.6% for the month.
- The University of Michigan’s Consumer Sentiment Index increased to 100.8 from 96.2.
- The Baker Hughes North American rig count increased to 1,281 from 1,252.
In the Dow Jones Industrial Average, the following stocks led gains:
- United Technologies (UTX, Financial) 1.68%
- Boeing (BA, Financial) 1.22%
- Chevron (CVX, Financial) 0.93%
Small-cap stocks
In small-caps, the Russell 2000 closed at 1,721.72 for a gain of 7.40 points or 0.43%. The S&P 600 closed at 1,086.35 for a gain of 7.37 points or 0.68%. The Dow Jones Small-Cap Growth TSM Index closed at 10,811.32 for a gain of 46.41 points or 0.43%. The Dow Jones Small-Cap Value TSM Index closed at 10,627.38 for a gain of 41.59 points or 0.39%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,046.56 for a gain of 7.33 points or 0.36%; the S&P 100 at 1,285.60 for a loss of -0.96 points or -0.07%; the Russell 3000 at 1,726.35 for a gain of 1.50 points or 0.09%; the Russell 1000 at 1,612.42 for a gain of 0.95 points or 0.06%; the Wilshire 5000 at 30,275.52 for a gain of 30.12 points or 0.10%; and the Dow Jones U.S. Select Dividend Index at 726.12 for a gain of 0.38 points or 0.05%.
