The Dow Jones Industrial Average closed at 24,815.04 on Friday with a loss of 354.84 points or -1.41%. The S&P 500 closed at 2,752.06 for a loss of 36.80 points or -1.32%. The Nasdaq Composite closed at 7,453.15 for a loss of 114.57 points or -1.51%. The VIX Volatility Index was higher at 18.69 for a gain of 1.39 points or 8.03%.
For the week, the S&P 500 and Nasdaq were both down approximately 3.0% while the Dow Jones fell 3.3%. For the month, the Dow Jones was down 4.8%, the S&P 500 was down 5.9% and the Nasdaq reported a loss of 7.4%. Year to date, the Nasdaq is up 12.3%, the S&P 500 has a gain of 9.8% and the Dow Jones has a return of 6.4%.
Friday’s market movers
U.S. market indexes closed lower Friday after new threats from President Trump to impose monthly rising tariffs from 5% to 25% on imports from Mexico. Automakers led losses for the day with a substantial portion of production in Mexico. In the S&P 500, the energy sector led losses, down 1.59%, with oil also forming a significant share of Mexico’s imports potentially subject to new import taxes. The latest tariff threats from the Trump administration are part of a tactic seeking to stop illegal immigration.
Economic reports on the calendar for the day included the following:
- The PCE Price Index increased 0.3% in April and 1.5% year over year.
- The Core PCE Price Index (excluding food and energy) increased 0.2% in April and 1.6% year over year.
- Personal income increased 0.5% in April, while personal spending increased 0.3%.
- The Michigan Consumer Sentiment Index increased to 100.0 from 97.2.
- The Baker Hughes North American oil rig count increased to 1,069 from 1,061.
In the Dow Jones Industrial Average, the following stocks led losses:
- Verizon (VZ, Financial) -4.10%
- Dow (DOW, Financial) -3.37%
- Cisco (CSCO, Financial) -2.68%
- Goldman Sachs (GS, Financial) -2.47%
- Procter & Gamble (PG, Financial) -2.35%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,465.48 for a loss of 20.05 points or -1.35%. The S&P 600 closed at 888.72 for a loss of 12.60 points or -1.40%. The Dow Jones Small-Cap Growth Total Stock Market Index closed at 9,357.01 for a loss of 117.27 points or -1.24%. The Dow Jones Small-Cap Value Total Stock Market Index closed at 9,024.51 for a loss of 103.60 points or -1.13%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,810.51 for a loss of 18.16 points or -0.99%; the S&P 100 at 1,215.02 for a loss of 18.65 points or -1.51%; the Russell 3000 at 1,619.72 for a loss of 20.97 points or -1.28%; the Russell 1000 at 1,524.42 for a loss of 19.65 points or -1.27%; the Wilshire 5000 at 28,253.81 for a loss of 371.60 points or -1.30%; and the Dow Jones U.S. Select Dividend Index at 666.04 for a loss of 8.90 points or -1.32%.
Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.
