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Julie Young
Julie Young
Articles (1560) 

US Indexes End Higher Friday and for the Week

Nasdaq up 38.91% for the year

December 04, 2020 | About:

The Dow Jones Industrial Average closed at 30,218.26 on Friday with a gain of 248.74 points or 0.83%. The S&P 500 closed at 3,699.12 for a gain of 32.40 points or 0.88%. The Nasdaq Composite closed at 12,464.23 for a gain of 87.05 points or 0.70%. The VIX Volatility Index was higher at 20.66 for a loss of 0.62 points or -2.91%.

For the week, the S&P 500 and Nasdaq both gained approximately 2% while the Dow Jones gained 1.7%. For the year, the Nasdaq is up 38.91%, the S&P 500 is up 14.5% and the Dow Jones has a gain of 5.01%.

Friday's market movers

U.S. indexes ended higher Friday and for the week. All three of the major indexes reported record closing highs.

The November jobs report was the day's leading headline. Results included the following:

  • Unemployment rate decreased to 6.7% from 6.9%.
  • Non-farm payrolls up 245,000 following an increase of 610,000 and missing the estimate of 500,000.
  • Non-farm private payrolls up 344,000 following an increase of 877,000 and missing the estimate of 590,000.
  • Government payrolls decreased 99,000 following a decrease of 267,000 and worse than the estimate of -90,000.
  • Manufacturing payrolls increased 27,000 following an increase of 33,000 and below the estimate of 35,000.
  • Average hourly earnings increased 0.3% for the month and 4.4% year over year.
  • Average weekly hours were unchanged at 34.8.
  • Participation rate decreased to 61.5% from 61.7%.

Economists reported some disappointment with the lower-than-expected data. The November results could be a reason for more Federal Reserve asset purchases.

In other news for the day:

  • Semiconductors gained after October global sales showed a significant increase.
  • Pfizer (NYSE:PFE) up 0.62% after Covid vaccine approval in Bahrain.
  • S&P 500 energy sector gained 5.45% following the OPEC+ compromise to increase total production by 500,000 barrels in January.
  • U.S. Coronavirus infections reported a new record high at 217,664.
  • The October balance of trade report showed a deficit of $63.1 billion. Exports were $182.0 billion and imports were $245.1 billion.
  • Factory orders increased 1% in October following an increase of 1.3%. Factory orders excluding transportation increased 1% following an increase of 0.9%.
  • The Baker Hughes oil rig count showed an increase of three rigs in the U.S. and an increase of 13 rigs internationally.

Small-cap stocks

In small caps, the Russell 2000 closed at 1,892.45 for a gain of 43.75 points or 2.37%. The S&P 600 closed at 1,085.44 for a gain of 26.41 points or 2.49%. The Dow Jones U.S. Small-Cap Growth Index closed at 13045.24 for a gain of 269.54 points or 2.11%. The Dow Jones U.S. Small-Cap Value Index closed at 8,905.71 for a gain of 230.16 points or 2.65%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,244.94 for a gain of 41.46 points or 1.88%; the S&P 100 at 1,692.62 for a gain of 10.38 points or 0.62%; the Nasdaq 100 at 12,528.48 for a gain of 61.35 points or 0.49%; the Russell 3000 at 2,204.08 for a gain of 22.51 points or 1.03%; the Russell 1000 at 2,082.21 for a gain of 19.48 points or 0.94%; the Wilshire 5000 at 38,484.15 for a gain of 382.14 points or 1.00%; and the Dow Jones U.S. Select Dividend Index at 694.38 for a gain of 10.96 points or 1.60%.

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About the author:

Julie Young
Julie Young is a financial writer with comprehensive experience in the financial services industry. She writes about investments, investment products, financial market news and economic trends. Julie has a Master of Science in finance from Boston College and a Bachelor of Science in finance from the University of Arkansas.

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