The Dow Jones Industrial Average closed at 24,388.95 on Friday with a loss of 558.72 points or -2.24%. The S&P 500 closed at 2,633.08 for a loss of 62.87 points or -2.33%. The Nasdaq Composite closed at 6,969.25 for a loss of 219.01 points or -3.05%. The VIX Volatility Index was higher at 23.30 for a gain of 2.11 points or 9.96%.
For the week, the Dow Jones was down 6%, the S&P 500 was down 5.9% and the Nasdaq Composite was down 6.6%.
Year to date, the Dow Jones is down 1.75%, the S&P 500 is down 2.33% and the Nasdaq Composite has a loss of 0.54%.
Friday’s market movers
Stock losses on Friday raised concerns of correction. All the leading indexes sold off, with a third day of consecutive losses for the Dow Jones and S&P 500. In the S&P 500, technology, consumer discretionary and industrials led losses.
The November jobs report was slightly weaker than expected. Trade between the U.S. and China also continued to be a concern for investors as the media reported opposing views from country officials.
Oil prices gained Friday after an agreement by OPEC to cut production beginning in January. The S&P 500 energy sector was mostly flat for the day.
Economic reports affecting market trading included the following:
- The November Employment Situation Report showed nonfarm payrolls increasing by 155,000. The unemployment rate remained the same at 3.7%.
- The University of Michigan’s Consumer Sentiment Index was unchanged at 97.5.
- Wholesale inventories increased 0.8% in October.
- The Baker Hughes North American rig count decreased to 1,261 from 1,275.
- The Federal Reserve’s Consumer Credit Report showed consumer credit increasing $25.38 billion in October.
In the Dow Jones Industrial Average, the following stocks led losses:
- Microsoft (MSFT, Financial) -3.94%
- DowDuPont (DWDP, Financial) -3.74%
- Intel (INTC, Financial) -3.74%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,450.12 for a loss of -27.29 points or -1.85%. The S&P 600 closed at 905.26 for a loss of 17.17 points or -1.86%. The Dow Jones Small-Cap Growth TSM Index closed at 9,013.37 for a loss of 203.72 points or -2.21%. The Dow Jones Small-Cap Value TSM Index closed at 9,312.25 for a loss of 115.19 points or -1.22%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,782.35 for a loss of 35.13 points or -1.93%; the S&P 100 at 1,168.02 for a loss of 28.18 points or -2.36%; the Russell 3000 at 1,550.42 for a loss of 36.76 points or -2.32%; the Russell 1000 at 1,456.03 for a loss of 34.61 points or -2.32%; the Wilshire 5000 at 27,143.46 for a loss of 632.33 points or -2.28%; and the Dow Jones U.S. Select Dividend Index at 678.33 for a loss of -7.04 points or -1.03%.
