The Dow Jones Industrial Average closed at 28,989.73 on Friday with a loss of 170.36 points or -0.58%. The S&P 500 closed at 3,295.47 for a loss of 30.07 points or -0.90%. The Nasdaq Composite closed at 9,314.91 for a loss of 87.57 points or -0.93%. The VIX Volatility Index was higher at 14.56 for a gain of 1.58 points or 12.17%.
For the week, the Dow Jones was down 1.2%, the S&P 500 was down 1% and the Nasdaq had a return of 0.8%. For the year, the Nasdaq has gained 2.4%, the S&P 500 is up approximately 1.2% and the Dow Jones has a gain of 0.4%.
Friday’s market movers
Concerns over China’s pneumonia virus outbreak weighed on investors Friday. Deaths in China have risen and a second case was reported in the U.S. The Disney (DIS, Financial) Shanghai Resort has also been closed.
In the tech sector, proposed regulations were repealed that created increased challenges for U.S. companies selling to Huawei.
American Express (AXP, Financial) made top headlines from the earnings calendar. The company reported revenue of $11.37 billion, increasing 8.6% year over year and in line with estimates. Fourth-quarter GAAP earnings of $2.03 per share beat estimates by 2 cents.
Economic reports affecting market trading included the following:
- The World Economic Forum ended in Davos.
- The Markit Composite PMI increased to 53.1 in January from 52.7. Separately, the Markit Manufacturing PMI decreased to 51.7 from 52.4 and the Markit Services PMI increased to 53.2 from 52.8.
- The Baker Hughes North American oil rig count decreased to 1,038 from 1,040.
In the S&P 500, health care and consumer discretionary led losses. In the Dow Jones Industrial Average, the following stocks led losses:
Small-cap stocks
In small caps, the Russell 2000 closed at 1,662.23 for a loss of 22.78 points or -1.35%. The S&P 600 closed at 1,015.98 for a loss of 15.49 points or -1.50%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,726.72 for a loss of 137.42 points or -1.26%. The Dow Jones U.S. Small-Cap Value Index closed at 9,741.62 for a loss of 137.58 points or -1.39%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,065.15 for a loss of 21.71 points or -1.04%; the S&P 100 at 1,474.44 for a loss of 12.78 points or -0.86%; the Nasdaq 100 at 9,141.47 for a loss of 75.52 points or -0.82%; the Russell 3000 at 1,929.12 for a loss of 18.02 points or -0.93%; the Russell 1000 at 1,821.88 for a loss of 16.47 points or -0.90%; the Wilshire 5000 at 33,673.02 for a loss of 316.63 points or -0.93%; and the Dow Jones U.S. Select Dividend Index at 759.52 for a loss of 6.47 points or -0.84%.
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