The Dow Jones Industrial Average closed at 24,285.95 on Friday with a loss of 178.74 points or -0.73%. The S&P 500 closed at 2,632.56 for a loss of 17.37 points or -0.66%. The Nasdaq Composite closed at 6,938.98 for a loss of 33.27 points or -0.48%. The VIX Volatility Index was higher at 21.45 for a gain of 0.65 points or 3.13%.
Friday’s market movers
Lower oil prices sent stocks lower Friday. Technology stocks also sold off with Apple (AAPL, Financial) leading losses as the company continues to see downgrades and pressure from analysts over its future production and sales outlook.
Since a September peak, the S&P 500 and Nasdaq are now nearing bear market territory with losses of -9% and -12% respectively. For the shortened holiday week, the S&P 500 had a loss of 3.5%, the Dow Jones was down 4.1% and the Nasdaq had a return of -3.7%. Year to date, the S&P 500 is down 2.3%, the Dow Jones has a loss of 2.4% and the Nasdaq has a return of -0.97%.
The Markit PMI was the only major report on the economic calendar Friday. The Markit PMI Composite decreased to 54.4 in November from 54.9. The Markit Manufacturing PMI decreased to 55.4 from 55.7. The Markit Services PMI decreased to 54.4 from 54.8.
In the Dow Jones Industrial Average, the following stocks led losses:
Small-cap stocks
In small caps, the Russell 2000 closed at 1,488.68 for a gain of 0.40 points or 0.03%. The S&P 600 closed at 937.56 for a gain of 0.15 points or 0.02%. The Dow Jones Small-Cap Growth TSM Index closed at 9,234.81 for a gain of 0.70 points or 0.01%. The Dow Jones Small-Cap Value TSM Index closed at 9,526.88 for a loss of 9.23 points or -0.10%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,824.88 for a loss of 2.99 points or -0.16%; the S&P 100 at 1,161.40 for a loss of 9.89 points or -0.84%; the Russell 3000 at 1,554.01 for a loss of 8.67 points or -0.55%; the Russell 1000 at 1,456.23 for a loss of 8.79 points or -0.60%; the Wilshire 5000 at 27,196.58 for a loss of 148.91 points or -0.54%; and the Dow Jones U.S. Select Dividend Index at 675.79 for a loss of 3.86 points or -0.57%.
