1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Julie Young
Julie Young
Articles (1178) 

US Indexes Close Higher for the June 7 Week

S&P 500 up 4.4% for the week and 14.6% for the year

June 07, 2019 | About:

The Dow Jones Industrial Average closed at 25,983.94 on Friday with a gain of 263.28 points or 1.02%. The S&P 500 closed at 2,873.34 for a gain of 29.85 points or 1.05%. The Nasdaq Composite closed at 7,742.10 for a gain of 126.55 points or 1.66%. The VIX Volatility Index was higher at 16.30 for a gain of 0.37 points or 2.32%.

The leading U.S. market indexes reported their largest weekly gains of 2019. The Dow gained 4.7%, the S&P 500 gained 4.4% and the Nasdaq returned 3.9%.

Year to date, the Nasdaq has a gain of 16.7%, the S&P 500 has gained 14.6% and the Dow Jones has a return of 10.3%.

Friday’s market movers

Stocks closed higher for a fourth consecutive day with improved risk appetite for the week. Investors received a lower-than-expected jobs report reading on Friday, but saw some strength in the underlying labor market data, specifically for average hourly earnings. The unemployment rate also remained unchanged at 3.6%. The lower-than-expected payrolls increase helped to further fuel the week’s sentiment that the Federal Reserve could potentially raise its federal funds rate to fight signs of weakening economic growth. Over the weekend, investors will be watching progress between the U.S. and Mexico on trade negotiations ahead of new tariffs set to go in place on Monday if no deal is reached.

Economic reports affecting market trading included the following:

  • The May Employment Situation Report showed nonfarm payrolls increasing by 75,000, following an increase of 224,00 in April and below the forecast of 190,000. The unemployment rate was unchanged at 3.6%.
  • Within the Employment Situation Report, other key factors included: an average hourly earnings increase of 0.2% in May; an increase in average hourly earnings of 3.1% year over year following an increase of 3.2%; average weekly hours of 34.4, unchanged from the previous month; government payrolls down 15,000; private sector nonfarm payrolls up 90,000; the participation rate unchanged at 62.8%.
  • Wholesale inventories increased 0.8% in April following no change in March.
  • The Baker Hughes North American oil rig count increased to 1,078 from 1,069.
  • Consumer credit increased $17.5 billion in April, exceeding the forecast of $9 billion and following an increase of $11.03 billion.

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

Small-cap stocks

In small caps, the Russell 2000 closed at 1,514.39 for a gain of 10.85 points or 0.72%. The S&P 600 closed at 919.89 for a gain of 6.47 points or 0.71%. The Dow Jones Small-Cap Growth Total Stock Market Index closed at 9,717.21 for a gain of 77.47 points or 0.80%. The Dow Jones Small-Cap Value Total Stock Market Index closed at 9,317.22 for a gain of 19.60 points or 0.21%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,892.00 for a gain of 10.48 points or 0.56%; the S&P 100 at 1,265.65 for a gain of 15.44 points or 1.23%; the Russell 3000 at 1,689.43 for a gain of 16.63 points or 0.99%; the Russell 1000 at 1,591.13 for a gain of 15.98 points or 1.01%; the Wilshire 5000 at 29,458.22 for a gain of 290.26 points or 1.00%; and the Dow Jones U.S. Select Dividend Index at 694.00 for a loss of 0.04 points or -0.01%.

Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.

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.

Rating: 0.0/5 (0 votes)


Please leave your comment:

Performances of the stocks mentioned by Julie Young

User Generated Screeners

pascal.van.garsseHigh FCF-M2
kosalmmuseBest one1
DBrizanall 2019Feb26
kosalmmuseBest one
DBrizanall 2019Feb25
MsDale*52-Week Low
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat