The Dow Jones Industrial Average closed at 34,382.13 on Friday with a gain of 360.68 points or 1.06%. The S&P 500 closed at 4,173.85 for a gain of 61.35 points or 1.49%. The Nasdaq Composite closed at 13,429.98 for a gain of 304.99 points or 2.32%. The VIX Volatility Index was lower at 18.81 for a loss of 4.32 points or -18.68%.
For the week, the Dow Jones was down 1.1%, the S&P 500 was down 1.4% and the Nasdaq had a return of 2.4%. For the year, the Dow Jones has a gain of 12.16%, the S&P 500 has a gain of 11.1% and the Nasdaq has a return of 4.12%.
Friday's market movers
U.S. stocks were higher for a second day after Colonial Pipeline's reopening, post-cyberattack. Reports say Colonial Pipeline paid a $5 million ransom for decryption tools to restore its technology. The cyberhacking group has been reported as the DarkSide, a Russian group, which may potentially be shutting down.
Retail sales were a top headline for the day. Retail sales were unchanged in April following an increase of 10.7%. Retail sales excluding autos decreased 0.8% following an increase of 9%. Year over year, retail sales increased 51.2%, up from 29%.
In other news:
- U.S. Senators have a $52 billion semiconductor proposal. The current semiconductor chip shortages could potentially reduce revenues for the global automotive industry by $100 billion in revenue in 2021, according to consulting firm AlixPartners.
- Fully vaccinated people no longer have to wear masks in most social situations.
- April export and import price data was released. Export prices increased 0.8% following an increase of 2.4%. Year over year, export prices increased 14.4%, up from 9.5%. Import prices increased 0.7% following an increase of 1.4%. Year over year, import prices increased 10.6%, up from 7%.
- The Federal Reserved released its April Industrial Production and Capacity Utilization Report. Industrial production increased 0.7% following an increase of 2.4%. Year over year, industrial production increased 16.5%, up from 1%. Manufacturing production increased 0.4% following an increase of 3.1%. Year over year, manufacturing production increased 23%, up from 3.2%. Capacity utilization increased to 74.9% from 74.4%.
- The Michigan Consumer Sentiment Index decreased to 82.8 in May from 88.3.
- The Baker Hughes weekly oil rig count showed an increase of five rigs in the U.S., an increase of four rigs in Canada and a decrease of 20 rigs internationally.
- Business inventories increased 0.3% in March following an increase of 0.6%.
Across the board:
- DoorDash (DASH, Financial) gained 21.68% following earnings and growth potential.
- Facebook (FB, Financial) up 3.50% with bid potentially blocking data transmission from the European Union to the U.S.
- Western Digital (WDC, Financial) gained. 8.29%.
- Moderna (MRNA, Financial) up 7.68%.
- Zoom Video Communications (ZM, Financial) rose 6.11%.
- Nvidia (NVDA, Financial) climbed 4.23%.
- Norwegian Cruise Line Holdings (NCLH, Financial) inched up 8.09%.
- iShares PHLX Semiconductor ETF (SOXX, Financial) was up 3.10%.
- Energy Select Sector SPDR Fund (XLE, Financial) swelled 3.10%.
- The 10-year Treasury ended with a yield of 1.635%.
Small-cap stocks
In small caps, the Russell 2000 closed at 2,224.63 for a gain of 53.68 points or 2.47%. The S&P 600 closed at 1,354.82 for a gain of 29.22 points or 2.20%. The Dow Jones U.S. Small-Cap Growth Index closed at 14,367.17 for a gain of 385.79 points or 2.76%. The Dow Jones U.S. Small-Cap Value Index closed at 11,478.86 for a gain of 224.14 points or 1.99%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,721.89 for a gain of 45.49 points or 1.70%; the S&P 100 at 1,890.32 for a gain of 27.84 points or 1.49%; the Nasdaq 100 at 13,393.12 for a gain of 283.97 points or 2.17%; the Russell 3000 at 2,486.56 for a gain of 40.16 points or 1.64%; the Russell 1000 at 2,342.65 for a gain of 36.50 points or 1.58%; the Wilshire 5000 at 43,470.94 for a gain of 709.13 points or 1.66%; and the Dow Jones U.S. Select Dividend Index at 875.80 for a gain of 10.85 points or 1.25%.
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