The Dow Jones Industrial Average closed at 23,685.42 on Friday with a gain of 60.08 points or 0.25%. The S&P 500 closed at 2,863.70 for a gain of 11.20 points or 0.39%. The Nasdaq Composite closed at 9,014.56 for a gain of 70.84 points or 0.79%. The VIX Volatility Index was lower at 31.31 for a loss of 1.30 points or -3.99%.
For the week, the Nasdaq was down 1.1%, the S&P 500 was down 2.2% and the Dow Jones had a loss of 2.6%. For the year, the Nasdaq has a gain of 0.47%, the S&P 500 is down 11.3% and the Dow Jones is down 17.01%.
Friday’s market movers
U.S. indexes were mostly flat Friday, with the major indexes posting losses for the week. Retail sales were down 16% in April. Investors were, however, encouraged by reopenings across the county, including parts of New York and the New York Stock Exchange on May 26. Speculators believe retail sales could improve somewhat in May.
Internationally, President Trump said he was taking steps to block semiconductor supplies to China with some retaliation by China against Apple (AAPL) and Qualcomm (QCOM). Trump is also seeking to increase pharmaceutical drug manufacturing activity in the U.S.
Economic reports affecting market trading included the following:
- Retail sales decreased 16.4% in April following a decrease of 8.3% and off from the estimate of -12%. Retail sales excluding autos decreased 17.2%. Year over year, retail sales are down 21.6%.
- The New York Empire State Manufacturing Index improved to -48.5 in May from -78.2.
- Industrial production decreased 11.2% in April following a decrease of 4.5%. Year over year, industrial production is down 15%.
- Manufacturing production decreased 13.7% in April following a decrease of 5.5%. Year over year, manufacturing production is down 18%.
- Capacity utilization decreased to 64.9% in April from 73.2%.
- The Michigan Consumer Sentiment Index increased to 73.7 in May from 71.8.
- Business inventories decreased 0.2% in March.
- The Job Openings and Labor Turnover Survey showed job openings of 6.191 million in March, down from 7.004 million.
- The Baker Hughes North American oil rig count decreased to 362 from 400.
- Net long-term treasury international capital flows were -$112.6 billion in March. Overall net capital flows were $349.9 billion and foreign bond investment was -$299.3 billion.
In the S&P 500 consumer discretionary, materials and consumer staples led gains. In the S&P 100, the following stocks led gains:
- Nvidia (NVDA, Financial) 5.29%
- Home Depot (HD, Financial) 2.96%
- Lowe's (LOW, Financial) 2.94%
- Colgate-Palmolive (CL, Financial) 2.62%
- BlackRock (BLK, Financial) 2.44%
- ConocoPhillips (COP, Financial) 2.35%
- American International Group (AIG, Financial) 2.35%
- PepsiCo (PEP, Financial) 2.27%
- Disney (DIS, Financial) 2.2%
- Netflix (NFLX, Financial) 2.05%
In small caps, the Russell 2000 closed at 1,256.38 for a gain of 18.83 points or 1.52%. The S&P 600 closed at 712.38 for a gain of 9.21 points or 1.31%. The Dow Jones U.S. Small-Cap Growth Index closed at 8,769.40 for a gain of 140.90 points or 1.63%. The Dow Jones U.S. Small-Cap Value Index closed at 5,861.26 for a gain of 18.76 points or 0.32%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,578.26 for a gain of 11.11 points or 0.71%; the S&P 100 at 1,323.54 for a gain of 6.15 points or 0.47%; the Nasdaq 100 at 9,152.64 for a gain of 58.21 points or 0.64%; the Russell 3000 at 1,656.81 for a gain of 8.20 points or 0.50%; the Russell 1000 at 1,577.46 for a gain of 6.81 points or 0.43%; the Wilshire 5000 at 28,958.20 for a gain of 135.10 points or 0.47%; and the Dow Jones U.S. Select Dividend Index at 535.68 for a loss of 4.12 points or -0.76%.
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