The Dow Jones Industrial Average closed at 26,089.61 on Friday with a loss of 17.16 points or -0.07%. The S&P 500 closed at 2,886.98 for a loss of 4.66 points or -0.16%. The Nasdaq Composite closed at 7,796.66 for a loss of 40.47 points or -0.52%. The VIX Volatility Index was lower at 15.28 for a loss of 0.54 points or -3.41%.
For the week, the Nasdaq reported a gain of 0.7%, the S&P 500 gained 0.5% and the Dow Jones gained 0.4%.
Year to date, the Nasdaq has a gain of 17.5%, the S&P 500 has a gain of 15.2% and the Dow Jones has gained 11.8%.
Friday’s market movers
Technology stocks continued to drag down equity valuations Friday with the Nasdaq closing down 0.52% on Friday, but slightly higher for the week. The U.S.’s largest tech stocks continued to see negative pressure as government investigation headlines were a factor. China trade negotiations involving technology and the Huawei ban were also technology detractors.
Economic reports affecting market trading included the following:
Retail sales increased 0.5% in May following a 0.3% monthly increase. Retail sales year over year increased 3.2%, following a 3.7% increase. Separately, retail sales excluding auto increased 0.5% in May. The Manufacturing and Trade Inventory and Sales report from the U.S. Census Bureau showed business inventories increased 0.5% after unchanged in the previous month. The Fed’s Industrial Production and Capacity Utilization report included a multitude of data. Manufacturing production increased 0.2% in May and 0.7% year over year. Capacity utilization was 78.1% in May following a report of 77.9%. Industrial production increased 0.4% in May and 2% year over. The Michigan Consumer Sentiment Index decreased to 97.9 from 100. The Baker Hughes North American oil rig count decreased to 1,076 from 1,078
In the Dow Jones