US Market Indexes Close Lower With Inflation Worries

The Dow Jones Industrial Average closed at 25,989.30 on Friday with a loss of 201.92 points or -0.77%. The S&P 500 closed at 2,781.01 for a loss of 25.82 points or -0.92%. The Nasdaq Composite closed at 7,406.90 for a loss of 123.98 points or -1.65%. The VIX Volatility Index was higher at 17.35 for a gain of 0.63 points or 3.77%.

For the week, the Nasdaq gained 1%, the S&P 500 increased 1.9% and the Dow Jones gained 2.6%. Year to date, the S&P 500 has a gain of 3.2%, the Dow Jones has a gain of 4.7% and the Nasdaq has a return of 5.7%.

Friday’s market movers

U.S. market indexes closed lower Friday. A higher-than-expected inflation reading from the Producer Price Index and the continued planning by the Federal Reserve for more rate increases renewed risk-off trading worries and sent stocks lower. Oil prices also closed lower Friday, marking their tenth day of consecutive declines, pushing farther into bear market territory.

In the S&P 500, technology, materials, consumer discretionary and financials led losses. On the earnings calendar, Moneygram (NASDAQ:MGI) led losses Friday with an earnings beat of 8 cents but a loss of 46%.

Economic reports affecting market trading included the following:

The Producer Price Index reported an annual increase of 2.9% and a seasonally adjusted monthly increase of 0.6% in October. The annual increase was above the consensus estimate of 2.5%. The University of Michigan’s Consumer Sentiment Index decreased to 98.3 from 98.6. Wholesale inventories increased 0.4% in September following a 0.9% increase. The Baker Hughes North American rig count increased to 1,277 from 1,265.

In the Dow Jones Industrial Average, the following stocks led losses:

Small-cap stocks

In small-caps, the Russell 2000 closed at 1,550.90 for a loss of -27.31 points or -1.73%. The

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