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Julie Young
Julie Young
Articles (1202) 

US Indexes Lower for the July 19 Week

S&P 500 has a gain of 18.7% for the year

July 19, 2019 | About:

The Dow Jones Industrial Average closed at 27,154.20 on Friday with a loss of 68.77 points or -0.25%. The S&P 500 closed at 2,976.61 for a loss of 18.50 points or -0.62%. The Nasdaq Composite closed at 8,146.49 for a loss of 60.75 points or -0.74%. The VIX Volatility Index was higher at 14.22 for a gain of 0.69 points or 5.10%.

For the week, the Dow Jones was down 0.29%, the S&P 500 was down 0.79% and the Nasdaq was down 0.88%. For the year, the Nasdaq is up 22.8%, the S&P 500 has a gain of 18.7% and the Dow Jones has a return of 16.7%.

Friday’s market movers

Indexes closed lower Friday and reported losses for the week. Stocks retracted some of Thursday’s gains with uncertainty still remaining over the Federa Reserve’s next move on July 30 and 31. Sentiment from Fed officials as they enter their next media blackout period, which begins tomorrow, is for a proactive rate cut. The Fed’s Williams suggested Thursday that the Fed be proactive in taking action ahead of a downturn, also suggesting the central bank had plenty of room to adjust policy with the federal funds rate at 225 to 250 basis points. The Fed’s Bullard echoed the dovish sentiment on Friday in comments at the 2019 Annual Meeting of the Central Bank Research Association.

Treasury demand was higher on the shorter end of the yield curve versus the longer end with the one-month Treasury bill’s price rising 2/32 and yield closing at 2.116%. In the S&P 500, real estate, utilities and health care led losses.

Key second-quarter earnings making headlines Friday included the following:

  • Microsoft (NASDAQ:MSFT): Reported earnings after the bell on Thursday. Beat revenue estimates. Beat GAAP earnings per share estimates by 50 cents.
  • American Express (NYSE:AXP): Reported earnings Friday. Missed on revenue. Earnings beat by 5 cents.

Economic reports affecting market trading included the following:

  • The Michigan Consumer Sentiment Index increased to 98.4 from 98.2.
  • The Baker Hughes North American oil rig count decreased to 1,072 from 1,075.

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

Small-cap stocks

In small caps, the Russell 2000 closed at 1,547.90 for a loss of 7.73 points or -0.50%. The S&P 600 closed at 940.44 for a loss of 2.22 points or -0.24%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,006.35 for a loss of 41.41 points or -0.41%. The Dow Jones U.S. Small-Cap Value Index closed at 9,478.51 for a loss of 30.71 points or -0.32%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,937.40 for a loss of 6.20 points or -0.32%; the S&P 100 at 1,315.42 for a loss of 8.30 points or -0.63%; the Nasdaq 100 at 7,834.90 for a loss of 69.24 points or -0.88%; the Russell 3000 at 1,749.49 for a loss of 10.67 points or -0.61%; the Russell 1000 at 1,649.20 for a loss of 10.18 points or -0.61%; the Wilshire 5000 at 30,502.66 for a loss of 186.31 points or -0.61%; and the Dow Jones U.S. Select Dividend Index at 717.01 for a loss of 2.75 points or -0.38%.

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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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