The Dow Jones Industrial Average closed at 25,883.25 on Friday with a gain of 443.86 points or 1.74%. The S&P 500 closed at 2,775.60 for a gain of 29.87 points or 1.09%. The Nasdaq Composite closed at 7,472.41 for a gain of 45.46 points or 0.61%. The VIX Volatility Index was lower at 14.88 for a loss of 1.34 points or -8.26%.
For the week, the Dow Jones gained 2.8%, the S&P 500 gained 2.2% and the Nasdaq Composite gained 1.8%. For the year, the Nasdaq has a gain of 12.6%, the Dow Jones has a gain of 11.0% and the S&P 500 has gained 10.7%.
Friday’s market movers
President Trump signed Congress’ spending deal, ending the long government shutdown debate. On Friday, Trump also declared a national emergency to fund border wall barriers and mitigate immigration issues. The developments, along with positive U.S.-China negotiations extending to next week, increased investors’ risk appetite and helped the Dow Jones to gain 1.74%.
In Treasuries, yields were mostly higher on the longer-term end of the yield curve with yields falling on the shorter end. The one-month Treasury yield decreased to 2.425% while the 10-year Treasury yield increased to 2.666%. The U.S. Dollar Index was lower, but the dollar reported gains against the Mexican peso and the Chinese yuan.
Economic reports affecting market trading included the following:
- Export and import prices were released. Export prices decreased 0.6% in January and decreased 0.2% year over year. Import prices decreased 0.5% in January and decreased 1.7% year over year.
- Industrial production decreased 0.6% in January and increased 3.8% year over year.
- The University of Michigan’s Consumer Sentiment Index increased to 95.5 from 91.2.
- The Baker Hughes North American oil rig count decreased to 1,275 from 1,289.
In the Dow Jones Industrial Average, the following stocks led gains:
- Goldman Sachs (GS, Financial) 3.23%
- JPMorgan (JPM, Financial) 3.12%
- United Technologies (UTX, Financial) 3.00%
- Home Depot (HD, Financial) 2.61%
- Caterpillar (CAT, Financial) 2.59%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,567.00 for a gain of 21.90 points or 1.42%. The S&P 600 closed at 974.25 for a gain of 13.10 points or 1.36%. The Dow Jones Small-Cap Growth TSM Index closed at 9,880.90 for a gain of 138.64 points or 1.42%. The Dow Jones Small-Cap Value TSM Index closed at 9,820.73 for a gain of 136.32 points or 1.41%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,911.49 for a gain of 19.83 points or 1.05%; the S&P 100 at 1,216.12 for a gain of 11.32 points or 0.94%; the Russell 3000 at 1,641.33 for a gain of 15.85 points or 0.98%; the Russell 1000 at 1,538.56 for a gain of 14.48 points or 0.95%; the Wilshire 5000 at 28,804.76 for a gain of 311.51 points or 1.09%; and the Dow Jones U.S. Select Dividend Index at 691.99 for a gain of 5.11 points or 0.74%.
