The Dow Jones Industrial Average closed at 26,935.07 on Friday with a loss of 159.72 points or -0.59%. The S&P 500 closed at 2,992.07 for a loss of 14.72 points or -0.49%. The Nasdaq Composite closed at 8,117.67 for a loss of 65.20 points or -0.80%. The VIX Volatility Index was higher at 15.32 for a gain of 1.27 points or 9.04%.
For the week, the S&P 500 and Nasdaq were down approximately 0.21%. For the year, the Nasdaq is up 22.3%, the S&P 500 is up 19.4% and the Dow Jones is up 16.1%.
Friday’s market movers
U.S. stocks closed lower Friday after China announced it would be canceling visits to farms in Montana and Nebraska. China’s negotiators are in the U.S. this week for discussions leading to the larger scale talks planned for October. The Trump administration said Friday that it would exempt 437 product types manufactured in China from already imposed tariffs.
Investors were also watching a fourth day of Federal Reserve intervention in the fixed-income markets. The New York Fed used $75 billion in repurchase activities to help keep the federal funds target rate at its current level. The week’s activities occurred simultaneously to a federal funds rate decrease of 25 basis points Wednesday.
In the S&P 500, the consumer discretionary and technology sectors led losses. The S&P 500 energy sector was down 0.83% with the Baker Hughes North American oil rig count showing a decrease from 1,020 to 987.
Treasury demand was higher for the day. The 30-year bond’s price gained 1 and 28/32 to a yield of 2.156%.
In the Dow Jones Industrial Average, the following stocks led losses on Friday:
- Intel (INTC, Financial) -1.80%
- Caterpillar (CAT, Financial) -1.51%
- Home Depot (HD, Financial) -1.51%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,559.76 for a loss of 1.72 points or -0.11%. The S&P 600 closed at 962.11 for a loss of 3.23 points or -0.33%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,963.97 for a loss of 21.86 points or -0.22%. The Dow Jones U.S. Small-Cap Value Index closed at 9,487.14 for a loss of 11.89 points or -0.13%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,944.64 for a loss of 5.02 points or -0.26%; the S&P 100 at 1,321.70 for a loss of 6.96 points or -0.52%; the Nasdaq 100 at 7,823.55 for a loss of 78.24 points or -0.99%; the Russell 3000 at 1,755.31 for a loss of 7.97 points or -0.45%; the Russell 1000 at 1,654.17 for a loss of 7.91 points or -0.48%; the Wilshire 5000 at 30,617.84 for a loss of 138.61 points or -0.45%; and the Dow Jones U.S. Select Dividend Index at 723.49 for a loss of 1.91 points or -0.26%.
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