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