US Indexes Close Mostly Flat Friday With Gains for the Week

Dow Jones reports a weekly gain of 2.2% Continue reading... Read More...

The Dow Jones Industrial Average closed at 29,398.08 on Friday with a loss of 25.23 points or -0.09%. The S&P 500 closed at 3,380.16 for a gain of 6.22 points or 0.18%. The Nasdaq Composite closed at 9,731.18 for a gain of 19.21 points or 0.20%. The VIX Volatility Index was lower at 13.76 for a loss of 0.39 points or -2.76%.

For the week, the Dow Jones gained 2.2%, the S&P 500 gained 1.6% and the Nasdaq was up 1%. For the year, the Nasdaq is up 7%, the S&P 500 is up 3.8% and the Dow Jones is up 1.8%.

Friday’s market movers

U.S. indexes closed mostly flat Friday to close out a positive week. Investors continued to watch China’s count on coronavirus infections. Retail sales were also in focus for the day. January retails sales were in line with expectations.

On the earnings calendar:

Canopy Growth (NYSE:CGC) gained 15.88%. Revenue of 123.76 million Canadian dollars ($93.4 million) increased 49% year over year and beat estimates by CA$18.91 million. The third-quarter GAAP earnings loss of 35 cents beat estimates by 14 cents.
Immunogen (NASDAQ:IMGN) led earnings gains, up 26.49%, after earnings per share of 3 cents beat estimates by 8 cents.

Economic reports affecting market trading included the following:

Retail sales increased 0.3% in January, in line with the estimate. Year over year, retail sales increased 4.4%. Retail sales excluding autos increased 0.3%.
Export and import prices were released. Export prices increased 0.7% in January and 0.5% year over year. Import prices were unchanged in January and increased 0.3% year over year.
The Federal Reserve’s production and capacity report showed industrial production down 0.3% in January and down 0.8% year over year. Manufacturing production decreased 0.1% in January and decreased 0.8% year over year. Capacity utilization decreased to 76.8% from 77.1%.
Business inventories increased 0.1% in December following a decrease of 0.2% and in line with the estimate of 0.1%.
The Michigan Consumer Sentiment Index increased to 100.9 in February from 99.8.
The Baker Hughes North American Oil Rig Count decreased to 1,045 from 1,047.

In the S&P 500, real estate and utilities led gains. In the Dow Jones Industrial Average, the following stocks led gains:

Visa (NYSE:V) 1.39%
Home Depot (NYSE:HD) 1.10%
American Express (NYSE:AXP) 1.05%
Microsoft (NASDAQ:MSFT) 1.00%
Procter & Gamble (NYSE:PG) 0.94%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,687.58 for a loss of 6.15 points or -0.36%. The S&P 600 closed at 1,018.27 for a loss of 5.20 points or -0.51%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,959.75 for a loss of 18.12 points or -0.17%. The Dow Jones U.S. Small-Cap Value Index closed at 9,763.56 for a loss of 33.06 points or -0.34%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,096.61 for a loss of 0.68 points or -0.032%; the S&P 100 at 1,515.53 for a gain of 2.30 points or 0.15%; the Nasdaq 100 at 9,623.58 for a gain of 27.88 points or 0.29%; the Russell 3000 at 1,979.52 for a gain of 3.30 points or 0.17%; the Russell 1000 at 1,870.83 for a gain of 3.79 points or 0.20%; the Wilshire 5000 at 34,565.20 for a gain of 61.21 points or 0.18%; and the Dow Jones U.S. Select Dividend Index at 755.92 for a loss of 1.98 points or -0.26%.

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This article first appeared on GuruFocus.