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US Indexes Lower Friday, but Higher for the Week

The Dow Jones Industrial Average closed at 29,102.51 on Friday with a loss of 277.26 points or -0.94%. The S&P 500 closed at 3,327.71 for a loss of 18.07 points or -0.54%. The Nasdaq Composite closed at 9,520.51 for a loss of 51.64 points or -0.54%. The VIX Volatility Index was higher at 15.47 for a gain of 0.51 points or 3.41%.

For the week, the Nasdaq gained 4%, the S&P 500 gained 3.2% and the Dow Jones gained 3%. For the year, the Nasdaq is up 5.3%, the S&P 500 has a gain of 2.1% and the Dow Jones is showing a return of 1.8%.

Friday's market movers

The January Jobs Report was in focus Friday. New payrolls increased by 225,000, beating the estimate of 148,000 and increasing from the previous month's 147,000. The unemployment rate moved slightly higher to 3.6% from 3.5%. Despite the good news, investor demand pulled back slightly after valuations reached new peaks Thursday following a four-day rally. Impacts of the coronavirus were also a factor Friday after China delayed some important economic data releases because of it.

Economic reports affecting market trading included the following:

  • Nonfarm payrolls increased by 225,000 in January following an increase of 147,000 and beating the estimate of 148,000. The unemployment rate increased to 3.6% from 3.5%.
  • Separately in the January Jobs Report, private nonfarm payrolls increased by 206,000, average hourly earnings increased 0.2% in January and 3.1% year over year, average weekly hours were unchanged at 34.3, government payrolls increased by 19,000, the participation rate increased to 63.4% from 63.2% and manufacturing payrolls decreased by 12,000.
  • Wholesale inventories decreased by 0.2% in December following an increase of 0.1%.
  • The Baker Hughes North American oil rig count increased to 1,047 from 1,037.
  • Consumer credit increased by $22.06 billion in December following an increase of $11.81 billion.

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

  • Caterpillar (NYSE:CAT) -2.83%
  • Dow Inc. (NYSE:DOW) -2.38%
  • 3M (NYSE:MMM) -1.73%
  • Intel (NASDAQ:INTC) -1.59%
  • Apple (NASDAQ:AAPL) -1.59%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,656.78 for a loss of 20.68 points or -1.23%. The S&P 600 closed at 1,002.05 for a loss of 14.61 points or -1.44%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,720.73 for a loss of 120.89 points or -1.12%. The Dow Jones U.S. Small-Cap Value Index closed at 9,626.68 for a loss of 117.66 points or -1.21%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,049.30 for a loss of 20.39 points or -0.99%; the S&P 100 at 1,498.07 for a loss of 6.07 points or -0.40%; the Nasdaq 100 at 9,401.10 for a loss of 44.82 points or -0.47%; the Russell 3000 at 1,946.35 for a loss of 11.42 points or -0.58%; the Russell 1000 at 1,839.68 for a loss of 9.97 points or -0.54%; the Wilshire 5000 at 33,980.90 for a loss of 189.71 points or -0.56%; and the Dow Jones U.S. Select Dividend Index at 751.49 for a loss of 6.15 points or -0.81%.

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This article first appeared on GuruFocus.