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Julie Young
Julie Young
Articles (1239) 

US Market Indexes Close Lower on Friday

S&P 500 down 0.58% on Friday and 0.80% for the week

May 17, 2019 | About:

The Dow Jones Industrial Average closed at 25,767.89 on Friday with a loss of -94.79 points or -0.37%. The S&P 500 closed at 2,859.53 for a loss of -16.79 points or -0.58%. The Nasdaq Composite closed at 7816.28 for a loss of -81.76 points or -1.04%. The VIX Volatility Index was higher at 16.10 for a gain of 0.81 points or 5.30%.

For the week, the S&P 500, Dow Jones and Nasdaq were all down approximately -1%. Year to date, the Nasdaq has a gain of 17.8%, the S&P 500 has a gain of 14.1% and the Dow Jones is up 10.9%.

Friday’s Market Movers

U.S. stocks traded lower on Friday and ultimately closed with losses. A late afternoon report stated that the U.S. had reached a deal with Canada and Mexico, ending steel and aluminum tariffs for the North American countries. The deal will help the new North American trade agreement to move to its final phases.

Internationally, investors were also watching sentiment from China, which now seems more reluctant to negotiate a trade deal following the higher imposed import tariffs and new restrictions on Huawei. In Europe, headlines reported that the U.K. government had stalled Brexit discussions, which is likely to lead to opposition for Prime Minister Theresa May. Meanwhile, the U.S. will be continuing its negotiations on auto import tariffs for the European Union and Japan over the next 180 days following a delayed deadline.

In Treasuries, prices were mostly flat for the day. However, the 30-year Treasury bond’s price did increase 4/32 to a yield of 2.826%

Economic reports affecting market trading included the following:

  • The Michigan Consumer Sentiment Index increased to 102.4 in May from 97.2.
  • The Conference Board’s Leading Economic Indicators Index increased 0.2% in April.
  • The Baker Hughes North American oil rig count decreased to 1,050 from 1,051.

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

Small-Cap Stocks

In small caps, the Russell 2000 closed at 1,538.54 for a loss of -18.70 points or -1.20%. The S&P 600 closed at 934.56 for a loss of -14.78 points or 1.56%. The Dow Jones Small-Cap Growth TSM Index closed at 9,772.92 for a loss of -136.90 points or -1.38%. The Dow Jones Small-Cap Value TSM Index closed at 9,482.93 for a loss of -103.35 points or -1.08%.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1889.40 for a loss of -22.01 points or -1.15%; the S&P 100 at 1267.41 for a loss of -6.91 points or -0.54%; the Russell 3000 at 1683.93 for a loss of -11.67 points or -0.69%; the Russell 1000 at 1583.91 for a loss of -10.14 points or -0.64%; the Wilshire 5000 at 29389.74 for a loss of -203.79 points or -0.69%; and the Dow Jones US Select Dividend Index at 699.65 for a loss of -2.75 points or -0.39%.

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About the author:

Julie Young
Julie Young is a financial writer with comprehensive experience in the financial services industry. She writes about investments, investment products, financial market news and economic trends. Julie has a Master of Science in finance from Boston College and a Bachelor of Science in finance from the University of Arkansas.

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