US Indexes Lower Friday and for the Week

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The Dow Jones Industrial Average closed at 28,992.41 on Friday with a loss of 227.57 points or -0.78%. The S&P 500 closed at 3,337.75 for a loss of 35.48 points or -1.05%. The Nasdaq Composite closed at 9,576.59 for a loss of -174.37 points or -1.79%. The VIX Volatility Index was higher at 17.08 for a gain of 1.52 points or 9.77%.

For the week, the Nasdaq was down 1.6%, the Dow Jones reported a loss of 1.4% and the S&P 500 returned -1.3%. Year to date, the Nasdaq is up 5.3%, the S&P 500 is up 2.5% and the Dow Jones is up 0.4%.

Friday’s market movers

U.S. indexes reported another day of losses Friday. Data on the coronavirus showed 76,785 confirmed cases and 2,249 deaths. In South Korea, the number of people infected doubled overnight for a second day to 204. Attention also moved to Japan, where 105 people have been diagnosed and 600 people were infected on a cruise ship in Yokohama. Cruise ship operators were all lower for the day and the State Department has issued travel warnings.

Also on the global radar, Paris-based Financial Action Task Force announced plans to blacklist Iran, which puts more pressure on the country’s financial activities.

On the earnings calendar, John Deere (NYSE:DE) reported a gain of 7% after earnings of $1.63 per share beat estimates by 35 cents. On Saturday, Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) will release its annual results on its website at around 8 a.m. Eastern.

Economic reports affecting market trading included the following:

The Markit Composite PMI decreased to 49.6 in February from 53.3. Separately, the Markit Manufacturing PMI decreased to 50.8 from 51.9 and the Markit Services PMI decreased to 49.4 from 53.4.
Existing home sales decreased 1.3% in January to a seasonally adjusted annual rate of 5.46 million.
The Baker Hughes North American oil rig count decreased to 1,035 from 1,045.

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

Microsoft (NASDAQ:MSFT) -3.02%
Apple (NASDAQ:AAPL) -2.36%
Nike (NYSE:NKE) -2.31%
Boeing (NYSE:BA) -1.75%
Intel (NASDAQ:INTC) -1.70%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,678.61 for a loss of 17.46 points or -1.03%. The S&P 600 closed at 1,009.62 for a loss of 11.34 points or -1.11%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,909.48 for a loss of 119.53 points or -1.08%. The Dow Jones U.S. Small-Cap Value Index closed at 9,706.36 for a loss of 96.58 points or -0.99%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,084.33 for a loss of 21.79 points or -1.03%; the S&P 100 at 1,493.89 for a loss of 17.38 points or -1.15%; the Nasdaq 100 at 9,446.69 for a loss of 181.14 points or -1.88%; the Russell 3000 at 1,957.64 for a loss of 20.91 points or -1.06%; the Russell 1000 at 1,849.43 for a loss of 19.79 points or -1.06%; the Wilshire 5000 at 34,183.57 for a loss of 364.53 points or -1.06%; and the Dow Jones U.S. Select Dividend Index at 750.88 for a loss of 5.14 points or -0.68%.

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This article first appeared on GuruFocus.