- By Julie Young
The Dow Jones Industrial Average closed at 30,179.05 on Friday with a loss of 124.32 points or -0.41%. The S&P 500 closed at 3,709.41 for a loss of 13.07 points or -0.35%. The Nasdaq Composite closed at 12,755.64 for a loss of 9.11 points or -0.07%. The VIX Volatility Index was lower at 21.57 for a loss of 0.36 points or -1.64%.
For the week, the Nasdaq gained 3.1%, the S&P 500 gained 1.3% and the Dow Jones gained 0.5%. For the year, the Nasdaq is up 42.16%, the S&P 500 is up 14.81% and the Dow Jones has a gain of 6.18%.
Friday's market movers
Congress has been unable to agree on a combined spending and stimulus bill ahead of Friday night's government shutdown deadline. Lawmakers could potentially pass a two-day stopgap to give more time for negotiations.
Vaccine distributions continued in the U.S. long-term care facilities are now in focus. The European Union also announced plans to begin Pfizer's (NYSE:PFE) vaccine on Dec. 27.
In other news:
The Food and Drug Administration's Covid-19 vaccine panel gave their support for Moderna's (NASDAQ:MRNA) vaccine, setting it up for full emergency use approval.
Nike (NYSE:NKE) reported earnings. The company beat revenue estimates and beat earnings per share estimates by 16 cents.
Tesla (NASDAQ:TSLA) gained 5.96% and will be added to the S&P 500 on Monday.
Financials were down 0.87% after the Federal Reserve released stress testing results and said it would allow bank buybacks in 2021 with some new limitations.
Semiconductors were lower on news of a new list of 80 Chinese companies to be blocked from business with the U.S.
The third-qiarter Current Account report, a measure of the country's trade balance, showed a deficit of $178.5 billion.
The Conference Board's Leading Economic Indicators Index increased 0.6% in November.
The Baker Hughes weekly oil rig count showed eight rigs added in the U.S., a decrease of nine in Canada and an increase of 13 internationally.
In small caps, the Russell 2000 closed at 1,969.99 for a loss of 8.06 points or -0.41%. The S&P 600 closed at 1,108.16 for a loss of 8.58 points or -0.77%. The Dow Jones U.S. Small-Cap Growth Index closed at 13,764.74 for a gain of 27.71 points or 0.20%. The Dow Jones U.S. Small-Cap Value Index closed at 8,939.92 for a loss of 103.45 points or -1.14%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,287.26 for a loss of 10.65 points or -0.46%; the S&P 100 at 1,695.72 for a loss of 8.08 points or -0.47%; the Nasdaq 100 at 12,738.18 for a loss of 13.88 points or -0.11%; the Russell 3000 at 2,227.00 for a loss of 5.17 points or -0.23%; the Russell 1000 at 2,099.61 for a loss of 4.62 points or -0.22%; the Wilshire 5000 at 38,805.73 for a loss of 111.45 points or -0.29%; and the Dow Jones U.S. Select Dividend Index at 681.50 for a loss of 5.20 points or -0.76%.
Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.
This article first appeared on GuruFocus.