The Dow Jones Industrial Average closed at 21,636.78 on Friday with a loss of 915.39 points or -4.06%. The S&P 500 closed at 2,541.47 for a loss of 88.60 points or -3.37%. The Nasdaq Composite closed at 7,502.38 for a loss of 295.16 points or -3.79%. The VIX Volatility Index was higher at 65.54 for a gain of 4.54 points or 7.44%.
For the week, the Dow Jones gained 12.8%, the S&P 500 gained 10.3% and the Nasdaq reported a return of 9.1%. For the year, the Nasdaq is down 13% and the S&P 500 and Dow Jones are both down approximately 21%.
Friday’s market movers
U.S. indexes closed lower Friday but reported gains for the week of March 27.
The House of Representatives passed a $2 trillion stimulus package to combat the economic effects of Covid-19, which was signed by President Trump. Across the world, nearly 600,000 Covid-19 cases have been reported.
In India, the country is reporting a new lockdown that will affect the economy and particularly cause challenges for American companies with factory operations there, including Amazon (AMZN).
Economic reports affecting U.S. market trading included the following:
- Personal income increased 0.6% in February and personal spending increased 0.2%
- The PCE Price Index increased 0.1% in February and 1.8% year over year. The Core PCE Price Index excluding food and energy increased 0.2% in February and 1.8% year over year.
- The Michigan Consumer Sentiment Index decreased to 89.1 in March from 101.
- The Baker Hughes North American oil rig count decreased to 782 from 870.
- The 10-year Treasury ended with a yield of approximately 0.683%.
In the S&P 500, energy and technology led losses. In the Dow Jones Industrial Average, the following stocks led losses:
- Boeing (BA, Financial) -11.22%
- Chevron (CVX, Financial) -10.20%
- Disney (DIS, Financial) -8.50%
- United Technologies (UTX, Financial) -7.16%
- JPMorgan (JPM, Financial) -7.12%
Small-cap stocks
In small-caps, the Russell 2000 closed at 1,131.99 for a loss of 48.33 points or -4.09%. The S&P 600 closed at 669.88 for a loss of 30.78 points or -4.39%. The Dow Jones U.S. Small-Cap Growth Index closed at 7,563.78 for a loss of 291.61 points or -3.71%. The Dow Jones U.S. Small-Cap Value Index closed at 5,860.54 for a loss of 246.02 points or -4.03%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,422.92 for a loss of 48.61 points or 3.30%; the S&P 100 at 1,162.30 for a loss of 42.20 points or -3.50%; the Nasdaq 100 at 7,588.37 for a loss of 308.76 points or -3.91%; the Russell 3000 at 1,466.36 for a loss of 51.21 points or -3.37%; the Russell 1000 at 1,394.65 for a loss of 48.04 points or -3.33%; the Wilshire 5000 at 25,646.02 for a loss of 882.55 points or -3.33%; and the Dow Jones U.S. Select Dividend Index at 526.99 for a loss of 12.26 points or -2.27%.
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