The Dow Jones Industrial Average closed at 25,871.46 on Friday with a loss of 208.64 points or -0.80%. The S&P 500 closed at 3,097.74 for a loss of 17.60 points or -0.56%. The Nasdaq Composite closed at 9,946.12 for a gain of 3.07 points or 0.03%. The VIX Volatility Index was higher at 34.48 for a gain of 1.54 points or 4.68%.
For the week, the Nasdaq gained 3.7%, the S&P 500 gained 1.9% and the Dow Jones gained 1%. For the year, the Nasdaq is up 10.85%, the S&P 500 is down 4.12% and the Dow Jones is down 8.61%.
Friday’s market movers
Stocks ended mostly lower Friday with rising coronavirus cases continuing to cause concern for investors. Apple (AAPL, Financial) announced store closures in parts of Florida, Arizona and the Carolinas. These states have topped the list for recent increases.
China has said it will increase its agricultural purchases, as discussed in phase one trade negotiations. Purchases had previously fallen during the Covid-19 pandemic.
Biotech stocks continued their momentum, helping weekly returns and the Nasdaq’s year-to-date gain. In the iShares NASDAQ Biotechnology Index, Inovio Pharmaceuticals (INO, Financial) is up 335% year to date, followed by Moderna (MRNA, Financial) with a 232% increase.
In other news:
- The International Transactions report showed a current account balance of -$104.2 billion.
- The Baker Hughes North American oil rig count decreased to 283 from 300.
- News reports suggested Uber (UBER, Financial) may be in talks to buy Postmates.
In the S&P 500, health care led gains and utilities led losses. In the S&P 100, the following stocks led gains and losses:
- Biogen (BIIB, Financial) +3.62%
- Walgreens Boots Alliance (WBA, Financial) +3.5%
- Gilead Sciences (GILD, Financial) +3.07%
- Target (TGT, Financial) +2.98%
- Simon Property Group (SPG, Financial) -5.65%
- Raytheon (RTN, Financial) -4.47%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,418.63 for a loss of 8.44 points or -0.59%. The S&P 600 closed at 818.76 for a loss of 10.53 points or -1.27%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,864.34 for a loss of 31.65 points or -0.32%. The Dow Jones U.S. Small-Cap Value Index closed at 6,963.05 for a loss of 99.59 points or -1.41%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,784.72 for a loss of 8.09 points or -0.45%; the S&P 100 at 1,422.04 for a loss of 5.74 points or -0.40%; the Nasdaq 100 at 10,008.64 for a loss of 3.41 points or -0.034%; the Russell 3000 at 1,806.39 for a loss of 10.01 points or -0.55%; the Russell 1000 at 1,716.24 for a loss of 9.47 points or -0.55%; the Wilshire 5000 at 31,574.94 for a loss of 173.52 points or -0.55%; and the Dow Jones U.S. Select Dividend Index at 589.88 for a loss of 6.11 points or -1.03%.
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