The Dow Jones Industrial Average closed at 33,874.85 on Friday with a loss of 185.51 points or -0.54%. The S&P 500 closed at 4,181.17 for a loss of 30.30 points or -0.72%. The Nasdaq Composite closed at 13,962.68 for a loss of 119.86 points or -0.85%. The VIX Volatility Index was higher at 18.61 for a gain of 1.00 points or 5.68%.
For the week, the S&P 500 gained 0.06%, the Nasdaq was down approximately 0.39% and the Dow Jones fell around 0.41%. For the month, the Nasdaq gained 5.45%, the S&P 500 gained 5.2% and the Dow Jones gained 2.76%. For the year, the S&P 500 has a gain of 11.3%, the Dow Jones has a gain of 10.76% and the Nasdaq is up 8.45%.
Friday's market movers
The major U.S. indexes ended lower on the last trading day of April. Energy stocks topped earnings headlines for the day:
- Exxon Mobil (XOM, Financial): Revenue of $59.15 billion increased 5.3% year over year and beat estimates by $2.61 billion. First-quarter GAAP earnings of 64 cents per share beat estimates by 7 cents and non-GAAP earnings of 65 cents beat estimates by 5 cents.
- Chevron (CVX, Financial): Revenue of $31.07 billion increased 4.6% year over year and missed estimates by $1.48 billion. First-quarter GAAP earnings of 72 cents per share missed estimates by 16 cents and non-GAAP earnings of 90 cents per share missed estimates by 4 cents.
On the economic calendar, stimulus checks certainly helped personal income data for March. In March, personal income increased 21.1% following a decrease of 7%. Personal spending increased 4.2% following a decrease of 1%. Also in the personal income report was the Fed's key inflation metric, the PCE Price Index. In March, the PCE Price Index increased 0.5%, with a 2.3% increase year over year. The Core PCE Price Index increased 0.4% with a 1.8% increase year over year. With the higher year-over-year inflation data, economists began to question when the Federal Reserve will begin to start discussing asset purchase tapering, which Fed Chair Jerome Powell has noted as the Fed's first post-pandemic policy move.
In other news:
- The Chicago PMI increased to 72.1 from 66.3.
- The Michigan Consumer Sentiment Index increased to 88.3 from 84.9.
- The Baker Hughes weekly rig count showed an increase of two rigs in the U.S., a decrease of four rigs in Canada and an increase of 14 rigs internationally.
- Apple (AAPL, Financial) declined 1.51% with new antitrust challenges in the European Union.
- Disney (DIS, Financial) gained 0.38% on California park reopenings.
- Brooklyn Immunotherapeutics (BTX, Financial) rose 45.53%.
- Tesla (TSLA, Financial) was up 4.79%.
Small-cap stocks
In small caps Friday, the Russell 2000 closed at 2,266.45 for a loss of 29.01 points or -1.26%. The S&P 600 closed at 1,345.54 for a loss of 18.02 points or -1.32%. The Dow Jones U.S. Small-Cap Growth Index closed at 15,055.30 for a loss of 193.80 points or -1.27%. The Dow Jones U.S. Small-Cap Value Index closed at 11,221.44 for a loss of 141.93 points or -1.25%.
Other notable indexes
Other notable index closes Friday included the S&P 400 Mid-Cap Index at 2,725.15 for a loss of 37.17 points or -1.35%; the S&P 100 at 1,900.83 for a loss of 12.02 points or -0.63%; the Nasdaq 100 at 13,860.76 for a loss of 109.45 points or -0.78%; the Russell 3000 at 2,503.56 for a loss of 19.74 points or -0.78%; the Russell 1000 at 2,356.67 for a loss of 17.74 points or -0.75%; the Wilshire 5000 at 43,870.09 for a loss of 350.87 points or -0.79%; and the Dow Jones U.S. Select Dividend Index at 846.67 for a loss of 5.03 points or -0.59%.
Other notable April index returns
- Russell 2000: 2.1%
- Russell 3000: 5.1%
- Nasdaq 100: 5.9%
- Wilshire 5000: 5.1%
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