U.S. Markets closed

US Indexes Close Lower Friday After Weak China Data Report

The Dow Jones Industrial Average closed at 26,770.20 on Friday with a loss of 255.68 points or -0.95%. The S&P 500 closed at 2,986.20 for a loss of 11.75 points or -0.39. The Nasdaq Composite closed at 8,089.54 for a loss of 67.31 points or -0.83%. The VIX Volatility Index was higher at 14.25 for a gain of 0.46 points or 3.34%.

For the week, the S&P 500 gained approximately 0.70%, the Nasdaq gained 0.5% and the Dow Jones was down 0.03%. For the year, the Nasdaq is up 21.9%, the S&P 500 is up 19.1% and the Dow Jones has a gain of 14.8%.

Friday's market movers

U.S. indexes closed lower Friday after China's third-quarter gross domestic product reported its lowest growth in 26 years at 6%. The day's losses capped gains for the week. A strong start to the third-quarter earnings season helped both the S&P 500 and Nasdaq to gain approximately 0.70% and 0.50% respectively for the week.

Third-quarter earnings continued on Friday with top results from:

  • Coca-Cola (NYSE:KO): Revenue of $9.5 billion increased 8% year over year and beat estimates by $80 million. Third-quarter GAAP earnings of 60 cents per share beat estimates by 4 cents and non-GAAP earnings of 56 per share were in line with estimates.
  • American Express (NYSE:AXP): Revenue of $10.99 billion increased 8.4% year over year and beat estimates by $50 million. Third-quarter GAAP earnings of $2.08 per share beat estimates by 5 cents and non-GAAP earnings of $2.08 beat estimates by 6 cents per share.

Economic reports affecting market trading included the following:

  • The Conference Board's Leading Economic Indicators Index decreased 0.1% in September following a decrease of 0.2%.
  • The Baker Hughes North American oil rig count decreased to 994 from 1,002.
  • The International Monetary Fund and World Bank began annual meetings.

In the S&P 500, the technology and industrial sectors led losses. In the S&P 100, the following stocks led losses:

  • Boeing (NYSE:BA) -6.40%
  • Netflix (NASDAQ:NFLX) -6.27%
  • Johnson & Johnson (NYSE:JNJ) -6.22%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,535.48 for a loss of 6.36 points or -0.41%. The S&P 600 closed at 950.37 for a loss of 5.04 points or -0.53%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,763.29 for a loss of 55.52 points or -0.57%. The Dow Jones U.S. Small-Cap Value Index closed at 9,439.77 for a gain of 12.16 points or 0.13%

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,936.76 for a loss of 1.89 points or -0.097%; the S&P 100 at 1,321.61 for a loss of 8.21 points or -0.62%; the Nasdaq 100 at 7,868.49 for a loss of 73.65 points or -0.93%; the Russell 3000 at 1,748.07 for a loss of 7.09 points or -0.40%; the Russell 1000 at 1,648.69 for a loss of 6.67 points or -0.40%; the Wilshire 5000 at 30,506.22 for a loss of 120.71 points or -0.39%; and the Dow Jones U.S. Select Dividend Index at 725.05 for a gain of 2.34 points or 0.32%.

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This article first appeared on GuruFocus.