The Dow Jones Industrial Average closed at 26,089.61 on Friday with a loss of 17.16 points or -0.07%. The S&P 500 closed at 2,886.98 for a loss of 4.66 points or -0.16%. The Nasdaq Composite closed at 7,796.66 for a loss of 40.47 points or -0.52%. The VIX Volatility Index was lower at 15.28 for a loss of 0.54 points or -3.41%.
For the week, the Nasdaq reported a gain of 0.7%, the S&P 500 gained 0.5% and the Dow Jones gained 0.4%.
Year to date, the Nasdaq has a gain of 17.5%, the S&P 500 has a gain of 15.2% and the Dow Jones has gained 11.8%.
Friday’s market movers
Technology stocks continued to drag down equity valuations Friday with the Nasdaq closing down 0.52% on Friday, but slightly higher for the week. The U.S.’s largest tech stocks continued to see negative pressure as government investigation headlines were a factor. China trade negotiations involving technology and the Huawei ban were also technology detractors.
Economic reports affecting market trading included the following:
- Retail sales increased 0.5% in May following a 0.3% monthly increase. Retail sales year over year increased 3.2%, following a 3.7% increase. Separately, retail sales excluding auto increased 0.5% in May.
- The Manufacturing and Trade Inventory and Sales report from the U.S. Census Bureau showed business inventories increased 0.5% after unchanged in the previous month.
- The Fed’s Industrial Production and Capacity Utilization report included a multitude of data. Manufacturing production increased 0.2% in May and 0.7% year over year. Capacity utilization was 78.1% in May following a report of 77.9%. Industrial production increased 0.4% in May and 2% year over.
- The Michigan Consumer Sentiment Index decreased to 97.9 from 100.
- The Baker Hughes North American oil rig count decreased to 1,076 from 1,078
In the Dow Jones Industrial Average, the following stocks led losses on Friday:
- Dow (DOW, Financial) -3.27%
- Cisco (CSCO, Financial) -2.53
- 3M (MMM, Financial) -1.27
- Intel (INTC, Financial) -1.09
- Apple (AAPL, Financial) -0.73
Small-cap stocks
In small caps, the Russell 2000 closed at 1,522.50 for a loss of 13.30 points or -0.87%. The S&P 600 closed at 923.57 for a loss of 8.65 points or -0.93%. The Dow Jones Small-Cap Growth Total Stock Market Index closed at 9,743.76 for a loss of 88.23 points or -0.90%. The Dow Jones Small-Cap Value Total Stock Market Index closed at 9,374.91 for a loss of 46.68 points or -0.50%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,899.92 for a loss of 12.53 points or -0.66%; the S&P 100 at 1,274.40 for a loss of 1.05 points or -0.082%; the Russell 3000 at 1,697.05 for a loss of 4.35 points or -0.26%; the Russell 1000 at 1,598.20 for a loss of 3.37 points or -0.21%; the Wilshire 5000 at 29,595.64 for a loss of 72.35 points or -0.24%; and the Dow Jones U.S. Select Dividend Index at 698.99 for a loss of 0.45 points or -0.06%.
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