The Dow Jones Industrial Average closed at 28,004.89 on Friday with a gain of 222.93 points or 0.80%. The S&P 500 closed at 3,120.46 for a gain of 23.83 points or 0.77%. The Nasdaq Composite closed at 8,540.83 for a gain of 61.81 points or 0.73%. The VIX Volatility Index was lower at 12.05 for a loss of 1.00 points or -7.66%.
For the week, the Dow Jones gained 1.60%, the S&P 500 gained 1.31% and the Nasdaq gained 1.25%. For the year, the Nasdaq is up 26.74%, the S&P 500 has a gain of 23.24% and the Dow Jones has a gain of 19.51%.
Friday’s market movers
U.S. indexes ended higher for the week. The Dow Jones posted its first close above 28,000 on Friday. Investors were bullish on earnings as the third-quarter earnings season comes to a close. Next week, investors will be watching the last of the big third-quarter earnings reports with releases from Home Depot (HD, Financial), Lowe's (LOW, Financial) and Target (TGT, Financial).
Friday's retail sales and optimistic China trade news were also contributors ending the week. Retail sales increased 3.1% year over year. The U.S.'s top trade advisor also reported that trade negotiations were moving forward toward a final agreement.
Economic reports affecting market trading included the following:
- Retail sales increased 0.3% in October following a 0.3% decrease. Year over year retail sales increased 3.1% following an increase of 4.1%. Retail sales excluding autos increased 0.2% in October following a 0.1% decrease.
- Export and import prices were released. Export prices decreased 0.1% in October following a 0.2% decrease. Year over year export prices decreased 2.2% following a 1.6% decrease. Import prices decreased 0.5% in October following an increase of 0.1%. Year over year import prices decreased3% following a 2.1% decrease.
- The Federal Reserve's Industrial Production and Capacity report showed industrial production down 0.8% in October and down 1.1% year over year. Manufacturing production decreased 0.6% in October and 1.5% year over year. Capacity utilization decreased to 76.7% from 77.5%.
- Business inventories were unchanged in September following a decrease of 0.1%
- The Baker Hughes North American oil rig count decreased to 940 from 957.
In the S&P 500, the health care, technology and energy sectors led gains. In the Dow Jones Industrial Average, the following stocks led gains Friday:
- UnitedHealth (UNH, Financial) 5.30%
- Johnson & Johnson (JNJ, Financial) 3.04%
- Pfizer (PFE, Financial) 2.00%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,596.45 for a gain of 7.66 points or 0.48%. The S&P 600 closed at 982.71 for a gain of 4.83 points or 0.49%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,199.41 for a gain of 69.76 points or 0.69%. The Dow Jones U.S. Small-Cap Value Index closed at 9,711.96 for a gain of 12.66 points or 0.13%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,000.61 at for a gain of 9.15 points or 0.46%; the S&P 100 at 1,388.81 for a gain of 10.47 points or 0.76%; the Nasdaq 100 at 8,315.52 for a gain of 57.69 points or 0.70%; the Russell 3000 at 1,827.11 for a gain of 13.70 points or 0.76%; the Russell 1000 at 1,723.87 for a gain of 13.25 points or 0.77%; the Wilshire 5000 at 31,862.01 for a gain of 233.00 points or 0.74%; and the Dow Jones U.S. Select Dividend Index at 741.10 for a gain of 3.39 points or 0.46%.
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