US Market Indexes Lower for the Week

U.S. market indexes were mostly lower on Friday. The Dow Jones Industrial Average closed at 23,422.21 for a loss of -39.73 points or -0.17%. The S&P 500 closed at 2,582.30 for a loss of -2.32 points or -0.09%. The Nasdaq Composite closed at 6,750.94 for a gain of 0.89 points or 0.01%. The VIX Volatility Index was higher at 11.21 with a gain of 0.71 points or 6.76%.

For the week, the Dow Jones was down -0.49%, the S&P 500 was down -0.21% and the Nasdaq Composite was down -0.21%.

Friday’s market movers

The Senate House Committee’s draft tax proposal for tax reform has changed investors' outlook slightly. Market indexes were lower again on Friday as investors factored in the Senate House Committee’s 2019 proposal for corporate tax decreases.

Economic reports affecting market trading included the following:

• The University of Michigan’s Consumer Sentiment Index decreased to 97.8 from 100.7.
• The Baker Hughes rig count reported an increase of 20 rigs for the week.

In the Dow Jones Industrial Average, the following stocks led losses:

Intel (INTC, Financial) -1.56%

Merck (MRK, Financial) -1.28%

McDonald's (MCD, Financial) -0.80%

IBM (IBM, Financial) -0.76%

In the broad market, health care and energy stocks led losses. Technology was also lower with the S&P 500 technology sector down -0.02%.

Small-cap stocks

In small-caps, the Russell 2000 Index closed at 1,477.33 for a gain of 2.31 points or 0.16%. The S&P 600 Index closed at 894.11 for a gain of 0.95 points or 0.11%. The Dow Jones Small-Cap Growth TSM Index closed at 9,013.26 for a gain of 7.85 points or 0.09%. The Dow Jones Small-Cap Value TSM Index closed at 9,880.33 for a loss of -4.32 points or -0.04%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,825.85 for a loss of -0.35 points or -0.02%; the S&P 100 Index at 1,141.04 for a loss of -1.03 points or -0.09%; the Russell 3000 Index at 1,528.18 for a loss of -0.22 points or -0.01%; the Russell 1000 Index at 1,431.03 for a loss of -0.48 points or -0.03%; and the Dow Jones U.S. Select Dividend Index at 678.76 for a loss of -0.09 points or -0.01%.