U.S. Markets closed

US Indexes Close Lower Friday and for the Week

The Dow Jones Industrial Average closed at 28,256.03 on Friday with a loss of 603.41 points or -2.09%. The S&P 500 closed at 3,225.52 for a loss of 58.14 points or -1.77%. The Nasdaq Composite closed at 9,150.94 for a loss of 148.00 points or -1.59%. The VIX Volatility Index was higher at 18.84 for a gain of 3.35 points or 21.63%.

For the week, the Dow Jones lost 2.5%, the S&P 500 was down 2.1% and the Nasdaq reported a loss of 1.8%. For the month and year to date, the Nasdaq reported a gain of 0.6%, the S&P 500 has a loss of 1.0% and the Dow Jones is down 2.1%.

Friday's market movers

Global concerns over the spreading of China's coronavirus and economic effects pushed stocks lower for the last trading day of January. In the U.K., the country will officially leave the European Union after today. In Congress, Senators have finished impeachment questioning and will vote on whether to allow witnesses in the trial.

On the earnings calendar:

  • Caterpillar (NYSE:CAT): Revenue of $13.14 billion decreased 8.1% year over year and missed estimates by $280 million. Fourth-quarter GAAP earnings of $1.97 per share missed estimates by 40 cents and non-GAAP earnings of $2.63 beat estimates by 25 cents.
  • Exxon Mobil (NYSE:XOM): Revenue of $67.17 billion increased 3.3% year over year and beat estimates by $2.59 billion. Third-quarter GAAP earnings of $1.33 per share beat estimates by 79 cents and non-GAAP earnings of 41 cents missed estimates by 4 cents.
  • Chevron (NYSE:CVX): Revenue of $36.35 billion decreased 14.3% year over year and missed estimates by $2.63 billion. The fourth-quarter GAAP earnings loss was $3.51 per share. Non-GAAP earnings of $1.49 beat estimates by 3 cents.

Economic reports affecting market trading included the following:

  • Personal income increased 0.2% in December and personal spending increased 0.3%.
  • The PCE Price Index increased 0.3% in December and 1.6% year over year.
  • The Core PCE Price Index increased 0.2% in December and 1.6% year over year.
  • The Employment Cost Index increased 0.7% in the fourth quarter. Separately, the Employment Cost Benefits Index increased 0.5% and the Employment Cost Wages Index increased 0.7%.
  • The Michigan Consumer Sentiment Index increased to 99.8 in January from 99.3.
  • The Baker Hughes North American Oil Rig count decreased to 1,037 from 1,038.

In the S&P 500, energy and technology led losses. In the Dow Jones Industrial Average, the following stocks led losses:

  • Dow Inc. (NYSE:DOW) -4.95%
  • Apple (NASDAQ:AAPL) -4.68%
  • Visa (NYSE:V) -4.44%
  • Exxon (NYSE:XOM) -4.12%
  • Chevron (NYSE:CVX) -3.82%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,614.06 for a loss of 34.16 points or -2.07%. The S&P 600 closed at 979.84 for a loss of 23.19 points or -2.31%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,438.15 for a loss of 223.17 points or -2.09%. The Dow Jones U.S. Small-Cap Value Index closed at 9,438.32 for a loss of 185.63 points or -1.93%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,007.22 for a loss of 40.70 points or -1.99%; the S&P 100 at 1,446.71 for a loss of 24.53 points or -1.67%; the Nasdaq 100 at 8,991.51 for a loss of 144.58 points or -1.58%; the Russell 3000 at 1,888.03 for a loss of 34.22 points or -1.78%; the Russell 1000 at 1,784.03 for a loss of 31.97 points or -1.76%; the Wilshire 5000 at 32,970.54 for a loss of 585.94 points or -1.75%; and the Dow Jones U.S. Select Dividend Index at 740.89 for a loss of 11.40 points or -1.52%.

Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.

This article first appeared on GuruFocus.