US Indexes End Lower for the W

The Dow Jones Industrial Average closed at 36,100.31 on Friday with a gain of 179.08 points or 0.50%. The S&P 500 closed at 4,682.85 for a gain of 33.58 points or 0.72%. The Nasdaq Composite closed at 15,860.96 for a gain of 156.68 points or 1.00%. The VIX Volatility Index was lower at 16.29 for a loss of 1.37 points or -7.76%.

Friday’s market movers

U.S. stocks ended the day higher on Friday, but the major indexes reported losses for the week. The weekly losses ended a five-week streak of gains. For the week, the Nasdaq was down 0.7%, the Dow Jones had a return of -0.6%, and the S&P 500 had a return of -0.3%. For the year, the S&P 500 is up 24.7%, the Dow Jones has a gain of 17.9% and the Nasdaq is up 22.8%.

Stocks started off the week strong after a good jobs report for October. However, earnings season is winding down and investors were watching fiscal spending with some uncertainty. Several companies announced they would split this week, starting with General Electric (GE, Financial). Toshiba (TSE:6502, Financial) and Johnson & Johnson (JNJ, Financial) are also reportedly dividing up their businesses.

On the economic calendar Friday:

  • Michigan Consumer Sentiment 66.8, down from 71.7.
  • Job Openings and Labor Turnover Survey showed 10.438 million jobs open.
  • According to the Baker Hughes weekly oil rig count, the U.S. added six rigs, Canada added eight rigs and internationally 13 rigs were added.

Across the board Friday:

Small-cap stocks Friday

In small caps, the Russell 2000 closed at 2,411.78 for a gain of 2.63 points or 0.11%. The S&P 600 closed at 1,455.51 for a loss of 1.52 points or -0.10%. The Dow Jones U.S. Small-Cap Growth Index closed at 15,980.83 for a gain of 67.96 points or 0.43%. The Dow Jones U.S. Small-Cap Value Index closed at 11,901.26 for a gain of 2.04 points or 0.02%.

Other notable indexes Friday

Other notable index closes included the S&P 400 Mid-Cap Index at 2,902.19 for a gain of 8.92 points or 0.31%; the S&P 100 at 2,155.54 for a gain of 16.02 points or 0.75%; the Nasdaq 100 at 16,199.88 for a gain of 167.41 points or 1.04%; the Russell 3000 at 2,781.44 for a gain of 19.51 points or 0.71%; the Russell 1000 at 2,626.35 for a gain of 19.53 points or 0.75%; the Wilshire 5000 at 48,661.31 for a gain of 331.28 points or 0.69%; and the Dow Jones U.S. Select Dividend Index at 860.75 for a loss of 0.96 points or -0.11%.

Week in review highlights

  • The $1 trillion infrastructure bill passed through Congress and is planned to be signed by President Biden Monday.
  • Inflation remained a top concern. The Producer Price Index showed an increase of 8.6% in October. The Consumer Price Index increased 6.2% in October.
  • Freddie Mac’s weekly mortgage market survey showed mortgage rates lower. The 30-year fixed-rate mortgage averaged 2.98%, down from 3.09%. The 15-year fixed-rate mortgage averaged 2.27%, down from 2.35%.
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