U.S. markets open in 8 hours 48 minutes

US Indexes Rebound Friday

The Dow Jones Industrial Average closed at 23,185.62 on Friday with a gain of 1,985.00 points or 9.36%. The S&P 500 closed at 2,711.02 for a gain of 230.38 points or 9.29%. The Nasdaq Composite closed at 7,874.23 for a gain of 672.43 points or 9.34%. The VIX Volatility Index was lower at 57.77 for a loss of 17.70 points or -23.45%.

For the week, the Dow Jones was down 10.4%, the S&P 500 fell 8.8% and the Nasdaq had a return of -8.2%. For the year, the Nasdaq is down 12.24%, the S&P 500 is down 16.09% and the Dow Jones is down 18.76%.


Friday's market movers

U.S. indexes rebounded Friday after reaching new lows Thursday. Developments pertaining to the coronavirus included the following:

  • President Trump declared a national emergency in the U.S. after announcing a ban on European travel earlier in the week.
  • The number of newly infected cases was down from its peak of 400 yesterday at approximately 215 on Friday.
  • Apple reopened all of its stores in China.
  • Canadian Prime Minister Justin Trudeau will be quarantined after his wife tested positive.
  • Disney World and Disneyland will close.
  • States are banning large gatherings in efforts to stop the coronavirus from spreading.



In other news:

  • Overstock.com (NASDAQ:OSTK) reported earnings with revenue of $370.9 million down 18.0% year over year and beating estimates by $14.24 million. A fourth-quarter GAAP earnings loss of 73 cents per share missed estimates by 33 cents.
  • The U.S. led new attacks in Iraq.
  • The Federal Reserve announced $37 billion in government debt purchases on Friday.
  • Export and import prices were released. Export prices decreased 1.1% in February and 1.3% year over year. Import prices decreased 0.5% in February and 1.2% year over year.
  • The Michigan Consumer Sentiment Index decreased to 95.9 in March from 101.
  • The Baker Hughes North American oil rig count decreased to 967 from 996.



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

  • American Express (NYSE:AXP) 16.40%
  • Goldman Sachs (NYSE:GS) 15.58%
  • JPMorgan (NYSE:JPM) 15.14%
  • Intel (NASDAQ:INTC) 14.04%
  • Procter & Gamble (NYSE:PG) 11.08%
  • Microsoft (NASDAQ:MSFT) 10.21%
  • Disney (NYSE:DIS) 10.16%
  • Walmart (NYSE:WMT) 9.51%
  • Apple (NASDAQ:AAPL) 9.33%
  • Walgreens Boots Alliance (NASDAQ:WBA) 9.17%



Small-cap stocks

In small caps, the Russell 2000 closed at 1,208.99 for a gain of 86.06 points or 7.66%. The S&P 600 closed at 725.46 for a gain of 54.16 points or 8.07%. The Dow Jones U.S. Small-Cap Growth Index closed at 7,949.73 for a gain of 547.52 points or 7.40%. The Dow Jones U.S. Small-Cap Value Index closed at 6,713.06 for gain of 541.00 points or 8.77%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,546.75 for a gain of 120.01 points or 8.41%; the S&P 100 at 1,237.20 for a gain of 113.77 points or 10.13%; the Nasdaq 100 at 7,995.26 for a gain of 731.61 points or 10.07%; the Russell 3000 at 1,564.59 for a gain of 128.65 points or 8.96%; the Russell 1000 at 1,488.00 for a gain of 123.35 points or 9.04%; the Wilshire 5000 at 27,369.81 for a gain of 2,276.88 points or 9.07%; and the Dow Jones U.S. Select Dividend Index at 568.31 for a gain of 43.08 points or 8.20%.

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

This article first appeared on GuruFocus.