U.S. Markets closed

US Indexes Close Higher Friday and for the Week

The Dow Jones Industrial Average closed at 27,347.36 on Friday with a gain of 301.13 points or 1.11%. The S&P 500 closed at 3,066.91 for a gain of 29.35 points or 0.97%. The Nasdaq Composite closed at 8,386.40 for a gain of 94.04 points or 1.13%. The VIX Volatility Index was lower at 12.27 for a loss of 0.95 points or -7.19%.

For the week, the Nasdaq gained approximately 1.03%, the S&P 500 gained 0.91% and the Dow Jones was up 0.84%. Year to date, the Nasdaq is up 25.81%, the S&P 500 is up 22.19% and the Dow Jones has a gain of 15.85%.

Friday's market movers

U.S. indexes closed higher Friday after a stronger-than-expected jobs report. Both the S&P 500 and Nasdaq closed at new record highs. The gains also helped to show increases for the week.

Earnings continued to help stock momentum. According to Factset, approximately 70% of companies in the S&P 500 Index have reported third-quarter results, with 75% of the reports showing better-than-feared earnings. On Friday's earnings calendar, the following companies topped earnings headlines:

  • MoneyGram (NASDAQ:MGI): Revenue of $324.6 million decreased 6.5% year over year and missed estimates by $9.86 million. A GAAP earnings loss of 10 cents per share missed estimates by 6 cents and a third-quarter non-GAAP loss of 3 cents missed estimates by 6 cents.
  • Exxon Mobil (NYSE:XOM): Revenue of $65.05 billion decreased 15.1% year over year and missed estimates by $810 million. Third-quarter GAAP earnings of 75 cents per share beat estimates by 8 cents and non-GAAP earnings per share of 68 cents beat estimates by 2 cents.
  • Chevron (NYSE:CVX): Revenue of $36.12 billion decreased 17.9% year over year and missed estimates by $1.57 billion. Third-quarter GAAP earnings of $1.36 per share missed estimates by 18 cents.
  • Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) will report earnings Saturday.

Economic reports affecting market trading included the following:

  • Non-farm payrolls increased by 128,000 in October following an increase of 180,000, beating estimates of 89,000 to 100,000. The unemployment rate increased to 3.6% from 3.5%.
  • Within the October Employment Situation report: average hourly earnings increased 0.2% in October and 3% year over year, average weekly hours were unchanged at 34.4, government payrolls decreased by 3,000, manufacturing payrolls decreased by 36,000, private sector payrolls increased by 131,000 and the participation rate increased to 63.3% from 63.2%.
  • The Markit Manufacturing PMI increased to 51.3 in October from 51.1.
  • The ISM Manufacturing PMI increased to 48.3 in October from 47.8. Separately, the ISM Manufacturing Employment Index increased to 47.7 from 46.3, the ISM Manufacturing New Orders Index increased to 49.1 from 47.3 and the ISM Manufacturing Prices Index decreased to 45.5 from 49.7.
  • Construction spending increased 0.5% in September following a decrease of 0.3%.
  • The Baker Hughes North American oil rig count decreased to 964 from 977.

In the S&P 500, the energy and industrial sectors led gains. In the S&P 100, the following stocks led gains for the day:

  • DuPont (NYSE:DD) 5.61%
  • Caterpillar (NYSE:CAT) 4.85%
  • Walgreens Boots Alliance (NASDAQ:WBA) 4.75%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,589.32 for a gain of 26.87 points or 1.72%. The S&P 600 closed at 980.42 for a gain of 15.07 points or 1.56%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,073.14 for a gain of 160.86 points or 1.62%. The Dow Jones U.S. Small-Cap Value Index closed at 9,740.66 for a gain of 157.20 points or 1.64%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,983.50 for a gain of 28.13 points or 1.44%; the S&P 100 at 1,363.03 for a gain of 13.27 points or 0.98%; the Nasdaq 100 at 8,161.17 for a gain of 77.33 points or 0.96%; the Russell 3000 at 1,796.77 for a gain of 18.57 points or 1.04%; the Russell 1000 at 1,693.80 for a gain of 16.72 points or 1.00%; the Wilshire 5000 at 31,357.92 for a gain of 320.76 points or 1.03%; and the Dow Jones U.S. Select Dividend Index at 737.70 for a gain of 8.92 points or 1.22%.

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This article first appeared on GuruFocus.