The Dow Jones Industrial Average closed at 34,529.45 on Friday with a gain of 64.81 points or 0.19%. The S&P 500 closed at 4,204.11 for a gain 3.23 points or 0.08%. The Nasdaq Composite closed at 13,748.74 for a gain 12.46 points or 0.09%. The VIX Volatility Index was mostly flat Friday at 16.76 with an increase of 0.020 points or 0.12%.
For the week, the Nasdaq gained 2.08%, the S&P 500 gained 1.17% and the Dow Jones gained 0.93%.
For the month of May, the Dow Jones gained 2.1%, the S&P 500 gained 0.5%, and the Nasdaq had a loss of -1.6%.
For the year, the Dow Jones gained 12.79%, the S&P 500 gained 11.9% and the Nasdaq gained 6.69%.
Friday's Market Movers
U.S. indexes closed out the week with gains, heading into the Memorial Day holiday weekend. Bond markets closed at 2:00 PM EST and markets will be closed Monday.
U.S. President Joe Biden's 2022 fiscal budget was a top headline for the day. Biden is proposing a $6 billion budget for 2022. It appears his main focus areas will be infrastructure, public health and tax increases for corporations and the wealthy.
Across the board Friday, stocks gained but were mostly mellow as the VIX Volatility Index showed only a 0.02 point increase.
- Nvidia (NVDA, Financial) 4.88%
- Amgen (AMGN, Financial) gained 1.12% with news of lung cancer drug approval
- iShares PHLX Semiconductor ETF (SOXX, Financial) 0.93%
- Vertex Energy (VTNR, Financial) 95.74%
- Prism Technologies (PRZM, Financial) 64.45%
In other news:
- Personal income decreased -13.1% in April following an increase of 20.9%. Personal spending increased 0.5% in April following an increase of 4.7%.
- Wholesale inventories increased 0.8% in April following an increase of 1.1%.
- Retail inventories decreased -1.6% in April following a decrease of -1.4%.
- The international goods trade balance showed a deficit of $-85.23 billion in April following a deficit of -$91.98 billion.
- The PCE Price Index increased 0.6% in April following an increase of 0.6%. Year over year, the PCE Price Index had an increase of 3.6%, up from 2.4%. The Core PCE Price Index increased 0.7% in April following an increase of 0.4%. Year over year, the Core PCE Price Index increased 3.1% following an increase of 1.9%.
- The Chicago PMI increased to 75.2 in May from 72.1.
- The Michigan Consumer Sentiment Index decreased to 82.9 from 88.3.
- The Baker Hughes weekly oil rig count showed an increase of two rigs in the U.S., an increase of four rigs in Canada, and a decrease of -20 rigs internationally.
Small-Cap Stocks
In small-caps, the Russell 2000 closed at 2,268.97 for a loss of 4.10 points or -0.18%. The S&P 600 closed at 1,371.94 for a loss of 4.19 points or -0.30%. The Dow Jones U.S. Small-Cap Growth Index closed at 14,818.20 for a loss of 14.86 points or -0.10%. The Dow Jones U.S. Small-Cap Value Index closed at 11,532.69 for a loss of 19.06 points or -0.16%.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,727.44 for a gain of 1.53 points or 0.056%; the S&P 100 at 1,904.55 for a gain of 0.88 points or 0.046%; the Nasdaq 100 at 13,686.51 for a gain of 28.67 points or 0.21%; the Russell 3000 at 2,511.52 for a gain of 1.93 points or 0.077%; the Russell 1000 at 2,364.53 for a gain of 2.26 points or 0.096%; the Wilshire 5000 at 43,920.47 for a gain of 33.64 points or 0.077%; and the Dow Jones US Select Dividend Index at 862.15 for a loss of 0.43 points or -0.050%.
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