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US Indexes Higher Friday, but Down for the Week

The Dow Jones Industrial Average closed at 27,875.62 on Friday with a gain of 109.33 points or 0.39%. The S&P 500 closed at 3,110.29 for a gain of 6.75 points or 0.22%. The Nasdaq Composite closed at 8,519.88 for a gain of 13.67 points or 0.16%. The VIX Volatility Index was lower at 12.42 for a loss of 0.71 points or 5.41%.

For the week, the Dow was down 0.5% and the S&P 500 and Nasdaq were both down approximately 0.3%. For the year, the Nasdaq is up 27.81%, the S&P 500 is up 23.91% and the Dow Jones has a gain of 19.4%.

Friday's market movers

U.S. indexes closed higher Friday, but ended with weekly losses. The outlook on China trade kept stocks volatile through the week. Both countries say they want to agree on a deal, but several specifics continue to delay negotiations. This week, President Trump also threatened to raise tariffs if no deal can be reached.

Foot Locker (NYSE:FL) and Best Buy (NYSE:BBY) are the last of the retail companies to report for the third-quarter earnings season. Foot Locker reported Friday with revenue of $1.93 billion increasing 3.8% year over year, but missing estimates by $10 million. GAAP earnings of $1.16 per share beat estimates by 10 cents and non-GAAP earnings of $1.13 per share beat estimates by 5 cents. Best Buy will report earnings on Tuesday.

Economic reports affecting market trading included the following:

  • The Markit Composite PMI increased to 51.9 in November from 50.9. Separately, the Markit Manufacturing PMI increased to 52.2 from 51.3 and the Markit Services PMI increased to 51.6 from 50.6.
  • The Michigan Consumer Sentiment Index increased to 96.8 from 95.5.
  • The Baker Hughes North American oil rig count was unchanged at 940.

In the S&P 500, financials and consumer discretionary led gains. In the Dow Jones, the following stocks led gains and losses:

  • Pfizer (NYSE:PFE) +1.56%
  • 3M (NYSE:MMM) +1.49%
  • Boeing (NYSE:BA) +1.34%
  • Intel (NASDAQ:INTC) -1.05%
  • Exxon (NYSE:XOM) -0.43%
  • Walmart (WMT ) -0.42%
  • Home Depot (NYSE:HD) -0.23%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,588.94 for a gain of 4.98 points or 0.31%. The S&P 600 closed at 972.13 for a gain of 2.67 points or 0.28%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,167.28 for a gain of 36.06 points or 0.36%. The Dow Jones U.S. Small-Cap Value Index closed at 9,603.96 for a gain of 39.77 points or 0.42%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,985.87 for a gain of 5.43 points or 0.27%; the S&P 100 at 1,384.81 for a gain of 3.52 points or 0.25%; the Nasdaq 100 at 8,272.05 for a gain of 6.43 points or 0.078%; the Russell 3000 at 1,821.99 for a gain of 4.11 points or 0.23%; the Russell 1000 at 1,719.27 for a gain of 3.77 points or 0.22%; the Wilshire 5000 at 31,771.70 for a gain of 70.67 points or 0.22%; and the Dow Jones U.S. Select Dividend Index at 735.64 for a gain of 2.51 points or 0.34%.

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This article first appeared on GuruFocus.