The Dow Jones Industrial Average closed at 26,599.96 on Friday with a gain of 73.38 points or 0.28%. The S&P 500 closed at 2,941.76 for a gain of 16.84 points or 0.58%. The Nasdaq Composite closed at 8,006.24 for a gain of 38.49 points or 0.48%. The VIX Volatility Index was lower at 15.22 for a loss of 0.60 points or -3.79%.
Friday’s market movers
U.S. stocks closed higher on the last day of June as investors showed confidence in the country's economic position. Over the weekend, investors will be watching the outcome of trade talks between the U.S. and China at the G20 Summit. International relations will also be a key factor for July along with the Federal Reserve's next move at its July 30 and 31 meeting.
On Friday, financials were a top contributor, gaining after all 18 large banks passed stress testing this week. The S&P 500 financial sector was up 1.42% Friday, followed by gains from the energy, industrial and materials sectors. Technology and consumer staples were the only two sectors reporting losses in the S&P 500.
Stocks posted a loss for the week, but reported their best June returns in decades. The S&P 500 was down 0.38%, the Nasdaq reported a loss of 0.45% and the Dow Jones was down 0.72% for the week. For the month of June, the Nasdaq gained 7.4%, the S&P 500 gained 6.9% and the Dow Jones gained 7.2%. At midyear, the Nasdaq is up 20.7%, the S&P 500 has a gain of 17.3% and the Dow Jones has a gain of 13.7%.
Economic reports affecting market trading on Friday included the following:
- The Bureau of Economic Analysis released the May Personal Income and Outlays report. Personal income increased 0.5% in May and personal spending increased 0.4%. The PCE Price Index increased 0.2% in May and 1.5% year over year. The Core PCE Price Index excluding food and energy increased 0.2% in May and 1.6% for the year.
- The Michigan Consumer Sentiment Index decreased to 98.2 from 100.
- The Baker Hughes North American oil rig count increased to 1,091 from 1,086.
In the Dow Jones Industrial Average, the following stocks led gains for the day:
In the S&P 100, the following stocks are leading gains for the year:
- Facebook (FB, Financial) 44.56%
- Celgene (CELG, Financial) 44.09%
- General Electric (GE, Financial) 39.63%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,566.57 for a gain of 20.02 points or 1.29%. The S&P 600 closed at 953.25 for a gain of 12.91 points or 1.37%. The Dow Jones Small-Cap Growth Total Stock Market Index closed at 10,016.57 for a gain of 121.34 points or 1.23%. The Dow Jones Small-Cap Value Total Stock Market Index closed at 9,562.90 for a gain of 108.70 points or 1.15%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,945.51 for a gain of 23.21 points or 1.21%; the S&P 100 at 1,297.46 for a gain of 5.21 points or 0.40%; the Russell 3000 at 1,730.91 for a gain of 11.43 points or 0.66%; the Russell 1000 at 1,629.02 for a gain of 10.00 points or 0.62%; the Wilshire 5000 at 30,180.71 for a gain of 197.36 points or 0.66%; and the Dow Jones U.S. Select Dividend Index at 711.77 for a gain of 6.18 points or 0.88%.
Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.
